United Health Products (UEEC) 10-K 6 May 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2014
Document And Entity Information
Entity Registrant Name	UNITED HEALTH PRODUCTS, INC.
Entity Central Index Key	1096938
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
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	136,319,126
Entity Public Float		$13,770,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current Assets
Cash and Cash Equivalents	$8,272	$1,855
Inventory	31,873	33,651
Prepaid expenses	870
Total current assets	41,015	35,506
Other Assets
Intangible Assets, net of accumulated amortization of $500,000 and $450,000, respectively		50,000
TOTAL ASSETS	41,015	85,506
Current Liabilities
Accounts payable and accrued expenses	372,483	285,457
Liability for unissued shares	567,043	160,543
Notes payable - related parties	542,776	625,224
Other current liabilites	168,223	136,106
Total current liabilities	1,650,525	1,207,330
Commitments and Contingencies
Stockholders' Deficiency
Common Stock - $.001 par value, 150,000,000 Shares Authorized, 108,197,640 and 102,260,140 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively	108,198	102,260
Additional Paid-In Capital	7,609,329	6,299,869
Stock subscriptions	341,250
Accumulated Deficit	-9,668,287	-7,523,953
Total Stockholders' Deficiency	-1,609,510	-1,121,824
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY	$41,015	$85,506

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Current Assets
Intangible Assets, net of accumulated amortization	$500,000	$450,000
Stockholders' Deficiency
Common Stock, par value	$0.00	$0.00
Common Stock, Authorized	150,000,000	150,000,000
Common Stock, Issued	108,197,640	102,260,140
Common Stock, Outstanding	108,197,640	102,260,140

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statements Of Operations
Revenues	$162,677	$3,060
Cost of sales	82,963
Total revenues	79,714	3,060
Operating Costs and Expenses
Amortization of Intangibles	50,000	100,000
Selling, general and administrative expenses	2,121,902	1,219,767
Total Operating Expenses	2,171,902	1,319,767
Loss from Operations	-2,092,188	-1,316,707
Other income (expenses)
Other Income		259,043
Interest Expense, Net	-52,146	-68,702
Total other income (expense)	-52,146	190,341
Net Loss	($2,144,334)	($1,126,366)
Net Loss per common share:
Basic	($0.02)	($0.01)
Weighted average number of shares outstanding	102,945,825	94,403,138

Consolidated_Statements_of_Sto

Consolidated Statements of Stockholders' Equity (USD $)	Common Stock	Additional Paid-In Capital	Stock Subscription	Accumulated Deficit	Total
Beginning Balance, Amount at Dec. 31, 2012	$84,644	$4,623,553		($6,397,587)	($1,689,390)
Beginning Balance, Shares at Dec. 31, 2012	84,644,133
Issuance of Common Stock in connection with conversion of indebtedness to related party, Amount	11,706	339,474			351,180
Issuance of Common Stock in connection with conversion of indebtedness to related party, Shares	11,706,007
Forfeiture of shares, Amount	-2,090	2,090
Forfeiture of shares, Shares	-2,090,000
Issuance of Common Stock in connection with Services, Amount	8,000	967,269			975,269
Issuance of Common Stock in connection with Services, Shares	8,000,000
Capital contributed		367,483			367,483
Net Loss				-1,126,366	-1,126,366
Ending Balance, Amount at Dec. 31, 2013	102,260	6,299,869		-7,523,953	-1,121,824
Ending Balance, Shares at Dec. 31, 2013	102,260,140
Forfeiture of shares, Amount	-950	950
Forfeiture of shares, Shares	-950,000
Issuance of Common Stock in connection with Services, Amount	6,700	677,900			684,600
Issuance of Common Stock in connection with Services, Shares	6,700,000
Proceeds received for stock subscriptions, issued in 2015			341,250		341,250
Options issued		21,247			21,247
Forgiven debt in settlement, related parties		594,551			594,551
Issuance of common stock in exchange of liabilities for unissued shares, Amount	188	14,812			15,000
Issuance of common stock in exchange of liabilities for unissued share, Shares	187,500
Net Loss				-2,144,334	-2,144,334
Ending Balance, Amount at Dec. 31, 2014	$108,198	$7,609,329	$341,250	($9,668,287)	($1,609,510)
Ending Balance, Shares at Dec. 31, 2014	108,197,640

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net Loss	($2,144,334)	($1,126,366)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:
Depreciation and Amortization	50,000	100,000
Interest accrued	52,146	68,702
Issuance of Stock Based Compensation	1,127,347	975,269
Changes in assets and liabilities:
Inventory	1,778
Prepaid expense	-870
Accounts Payable and Accrued Expenses	156,945	-136,403
Other current liabilities		68,702
Expenses paid by related party	422,155
Net Cash Used In Operating Activities	-334,833	-118,798
Cash Flows from Financing Activities:
Proceeds from Related Parties		120,621
Proceeds from stock subscription	341,250
Net Cash Provided By Financing Activities	341,250	120,621
Increase (Decrease) in Cash and Cash Equivalents	6,417	1,823
Cash and Cash Equivalents - Beginning of period	1,855	32
CASH AND CASH EQUIVALENTS - END OF PERIOD	8,272	1,855
Schedule of Non-Cash Financing Activities:
Issuance of Common Stock in connection with Conversion of Convertible Notes and Related Interest		351,180
Capital Contributed		367,483
Issuance of stock in exchange for liability, accounted in prior year as unissued shares	15,000
Settlement of debt and accrued expenses	$594,551

Organization_and_Basis_of_Prep

Organization and Basis of Preparation	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
1. Organization and Basis of Preparation	United Health Products, Inc. (formerly United EcoEnergy Corp.) (“United” or the “Company”) is a product development and solutions company focusing its growth initiatives on the expanding wound-care industry and disposable medical supplies markets. The Company produces an innovative gauze product that absorbs exudate (fluids which have been discharged from blood vessels) by forming a gel-like substance upon contact. Epic Wound Care, Inc. (“Epic”), the Company’s principal operating subsidiary, was dissolved by the State of Florida and, accordingly, all operations are now directly in the Company.
	While the Company has funded its initial operations with private placements and secured loans from a related party, there can be no assurance that adequate financing will continue to be available to the Company and, if available, on terms that are favorable to the Company. The Company’s ability to continue as a going concern is also dependent on many events outside of its direct control, including, among other things, improvement in the economic climate. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the outcome of this uncertainty.

Significant_Accounting_Policie

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
2. Significant Accounting Policies	Going Concern
	The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has incurred operating losses of $2,144,334 and $1,126,366 for the years ending December 31, 2014 and 2013, respectively. The Company’s history of recurring losses result in an accumulated deficit of $9,668,287. The Company has negative working capital and operations have not provided cash flows. Additionally, the Company does not currently have sufficient revenue producing operations to cover its operating expenses and meet its current obligations. In view of these matters, the Company’s ability to continue as a going concern is dependent upon the Company’s ability to expand operations and to achieve a level of profitability. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources, including term notes until such time that funds provided by operations are sufficient to fund working capital requirements. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.
	The Chief Executive Officer has agreed to advance funds or make payments of the Company’s obligations at his discretion. There is no written agreement to continue this support.
	Consolidation
	The accompanying consolidated financial statements include the accounts of the Company and its former wholly owned subsidiary, Epic Wound Care, Inc. (which was recently dissolved by the State of Florida), as of the dates and for the fiscal years indicated. All intercompany accounts and transactions have been eliminated in consolidation.
	Use of Estimates
	The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reported period. Changes in the economic environment, financial markets, as well as in the healthcare industry, and any other parameters used in determining these estimates, could cause actual results to differ.
	Fair Value Measurements
	Accounting principles generally accepted in the United States define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Additionally, the inputs used to measure fair value are prioritized based on a three-level hierarchy. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:
	Level 1 — Quoted prices in active markets for identical assets or liabilities. The Company’s investment in securities held for sale is fair valued by this method.
	Level 2 — Observable inputs other than quoted prices included in Level 1. We value assets and liabilities included in this level using dealer and broker quotations, bid prices, quoted prices for similar assets and liabilities in active markets, or other inputs that are observable or can be corroborated by observable market data.
	Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
	Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2014 and 2013. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
	Income Taxes
	The Company accounts for income taxes using a method that requires recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between tax bases and financial reporting bases of the Company’s assets and liabilities which is commonly known as the asset and liability method. In assessing the ability to realize deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	The Company evaluates its tax positions taken or expected to be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are ‘‘more-likely-than-not’’ of being sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are recorded as an expense in the applicable year. The Company does not have a liability for any unrecognized tax benefits. Management’s evaluation of uncertain tax positions may be subject to review and adjustment at a later date based upon factors including, but not limited to, an on-going analysis of tax laws, regulations and interpretations thereof, with due consideration given to the fact that tax periods are open to examination by tax authorities. Management believes the Company is no longer subject to income examinations for years prior to 2010.
	As of December 31, 2014, the Company has approximately $9.5 million of net operating loss carry-forwards available to affect future taxable income and has established a valuation allowance equal to the tax benefit of the net operating loss carry forwards and temporary differences as realization of the asset is not assured.
	Revenue Recognition
	The Company recognizes revenues when persuasive evidence of an arrangement exists, product has been delivered or services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Revenue is recognized net of estimated sales returns and allowances.
	Revenues are attributable to the sale of medical products through distributor agreements. The principal terms of the agreements provide that the distributor orders be accompanied by partial payment in advance, which at least equals 50% of total manufactured cost, as defined, for orders for distributor inventory and, in addition, an agreed portion of the distributor’s gross profit on special orders. The balance of the manufactured cost is due from the distributor at the time of shipment. The Company is also entitled to an agreed percentage of the distributor’s profit on receipt by the distributor. The Company defers all amounts received in advance of shipment and recognizes as revenue the aggregate of amounts invoiced in advance and an estimate of the Company’s portion of distributor’s profit at the time of shipment.
	Stock Based Compensation
	The Company issues restricted stock to consultants and employees for various services. Cost for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock for non-employees is measured at the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached and expense is recognized during the term at which the counterparty's performance is earned or at the date the shares are considered non-forfeitable. The Company recognized consulting expenses and a corresponding increase to additional paid-in-capital related to stock issued for services. Compensation for employee stock grants are recognized at the fair market value of the shares at the date of grant and recognized at the grant date, as it is considered that the shares issued are considered non-forfeitable at the date of grant. Stock compensation for the periods presented were issued for past services provided, accordingly, all shares issued are fully vested, and there is no unrecognized compensation associated with these transactions.
	Per Share Information
	Basic earnings per share are calculated using the weighted average number of common shares outstanding for the period presented. Diluted loss per share is the same as basic loss per share, as the effect of potentially dilutive securities (-0- options and -0- warrants at December 31, 2014 and 2,150,000 options and 1,698,378 warrants at December 31, 2013), is anti-dilutive.
	New Accounting Pronouncements, Recently Adopted Accounting Pronouncements
	In May 2014, FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The revenue recognition standard affects all entities that have contracts with customers, except for certain items. The new revenue recognition standard eliminates the transaction-and industry-specific revenue recognition guidance under current GAAP and replaces it with a principle-based approach for determining revenue recognition. Public entities are required to adopt the revenue recognition standard for reporting periods beginning after December 15, 2016, and interim and annual reporting periods thereafter. Early adoption is not permitted for public entities. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.
	In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. Management has reviewed the ASU and believes that they currently account for these awards in a manner consistent with the new guidance, therefore there is no anticipation of any effect to the consolidated financial statements.
	In August 2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met conditions which would subject these consolidated financial statements for additional disclosure.
	The Company considers all new pronouncements and management has determined that there have been no other recently adopted or issued accounting standards that had or will have a material impact on its Consolidated Financial Statements.

Acquisition_of_Intellectual_Pr

Acquisition of Intellectual Property Rights	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
3. Acquisition of Intellectual Property Rights	In June 2009, the Company acquired the intellectual property rights of Epic Wound Care, LLC, through the then wholly-owned subsidiary, Epic Wound Care, Inc. (“Epic”). The intellectual property includes the right to manufacture and distribute innovative gauze to serve the wound care market. The acquisition cost for the rights was 30 million shares of Company’s common stock. The Company valued the rights acquired at $500,000 based upon the Company's expectation for commercialization of the rights less costs to effectuate applicable approvals.
	The Company is amortizing the intangibles acquired over a five year period and, accordingly recorded an amortization charge of $50,000 in 2014 and $100,000 in 2013. The intellectual property is fully amortized as of December 31, 2014.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
4. Related Party Transactions	At January 1, 2013, the Company owed LeadDog Capital LP $448,099. At January 1, 2014, the beginning balance owed to LeadDog Capital was $594,551. As described under Note 6 titled “Litigation,” a settlement agreement was reached effective August 18, 2014 pursuant to which all monies owed by the Company to LeadDog Capital LP were forgiven. The aforementioned settlement agreement was confirmed by the Nevada Court on October 2, 2014. See “Note 6.”
	For the year ended December 31, 2014 and 2013, payables to related parties totaled $542,776 and $625,224, respectively. The monies, at December 31, 2014, were owed to Doug Beplate, our Chief Executive Officer. See Note 10.

Issuances_of_Securities

Issuances of Securities	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
5. Issuances of Securities	In May 2013, the Company entered into an agreement with Bibicoff & MacInnis, Inc. to provide stockholder financial community and investor relations and to serve as a consultant to the Company’s Board of Directors as described in “Note 7.” In connection with said agreement, Mr. Bibicoff subscribed to purchase 507,864 shares of Common Stock at $.04 per share at a subscription price of $20,314. Mr. MacInnis subscribed to purchase 338,576 shares at $.04 per share at a subscription price of $13,543. In each case the subscription price is payable pursuant to promissory notes payable with interest at 1.5% quarterly and due February 21, 2016. These shares won’t be issued until the promissory notes are paid in full. The Company has not recorded the subscription receivable as of December 31, 2014 and 2013 and will recognize the transaction upon payment in part or full.
	In May 2013, the Company issued a $15,000 promissory note to MayerMeinberg for accounting and relating services rendered. The note was converted in December 2013 at $.08 per share into 187,500 shares, which shares were issued in January 2014. The exchange was at the fair market price at the date of exchange, therefore no gain or loss was recognized in this conversion transaction.
	Enterprise Partners LLC made loans to the Company prior to 2009. These monies which totaled $175,781 plus accrued interest of $175,399 were transferred to Beplate & Associates on or about December 1, 2011. These notes automatically converted into 11,706,007 shares on March 31, 2012 and the shares were issued in June 2013.
	In July 2013, Dr. Forman voluntarily surrendered his ownership of 2,750,000 options and 2,090,000 shares of Common Stock of the Company.
	In August 2013, the Company entered into a consulting agreement with Douglas Beplate. Pursuant to said agreement, the Company retained Mr. Beplate for the exclusive purpose of developing and marketing its hemostatic gauze products. A signing bonus of 6,000,000 shares of Common Stock which resulted in recording compensation expense of $744,000 was agreed upon and was issued pursuant to the Company’s 2013 Employee Benefit and Consulting Services Compensation Plan. These 6,000,000 shares were issued in September 2013 after the Plan was filed with the Securities and Exchange Commission on Form S-8. In the event sales of the Company’s hemostatic gauze products exceed $10 million, the Company is required to pay Mr. Beplate a cash commission of ½ of 1% on all sales achieved by the Company.
	On October 1, 2013, the Company entered into an operating agreement with Hemo Manufacturing LLC as described under “Note 7.” Pursuant to said agreement, the Company issued 2,000,000 shares of restricted Common Stock valued at $231,270 to the managing member of Hemo Manufacturing LLC.
	On January 18, 2014, the Company entered into a consulting agreement with Steve Z. Safran to assist the Company in the areas of corporate networking, sales, marketing and strategic planning. Pursuant to said agreement, the Company issued 200,000 shares of restricted stock and immediately upon executing the agreement an option to purchase an additional 300,000 shares of stock at $0.12 per share. The shares were recorded as expense at the fair market value at the date of contract, in the amount of $34,000. The options issued were valued using the Black Scholes valuation model, resulting in an expense of $21,247. The assumptions used in determining the value were:
	Expected volatility	102	%
	Expected dividend yield	0	%
	Risk-free interest rate	1.75	%
	Expected term (in years)	0.5
	On November 7, 2014, the Board of Directors approved the issuance and sale of 9.6 million shares of its Common Stock pursuant to various employment agreements and to consultants in exchange for services rendered valued at $.083 per share. For the year ending December 31, 2014, the Company issued 6,500,000 shares, at the fair market value of $539,500. The Company has not issued 100,000 shares to a director or 3,000,000 shares to be distributed to Phillip Forman, upon the submission of cancellation of the 2,090,000 shares. The Company has accrued a liability of $324,000 for the issuance of these shares.
	In the fourth quarter of 2014, the Company sold 4,121,486 shares of its Common Stock in a private placement offering at an offering price of $.083 per share (166,666 shares were sold at $.078 per share), for gross proceeds of $341,250 which was received in 2014. These shares were issued subsequent to the year end. Exemption from registration is claimed under Rule 506 of Regulation D of the Securities Act of 1933, as amended.

Litigation

Litigation	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
6. Litigation	There are no legal proceedings pending or threatened against us, and we are unaware of any governmental authority initiating a proceeding against us, except as described below.
	On November 8, 2013, the Company filed a Complaint in the Second Judicial District Court, State of Nevada, County of Washoe, against a former officer and director of the Company, LeadDog Capital LP, a corporation which in the past has loaned money to the Company, and certain other defendants. The Company sought among other things to have LeadDog Capital LP cancel its indebtedness owed by the Company. A settlement agreement was reached effective August 18, 2014 pursuant to which all monies owed by the Company to LeadDog Capital LP were cancelled.
	In August 2014, the Company, a former officer and director of the Company, LeadDog Capital LP and other defendants in the litigation referenced above, agreed to settle the litigation in order to avoid the inconvenience and expense of continued litigation. The settlement made by the parties does not constitute an admission of liability. Pursuant to the Settlement Agreement, LeadDog Capital LP agreed to cancel all principal and accrued interest thereon. The forgiveness included loans payable of $504,603, accrued compensation of $50,000 and accrued interest of $39,948, for a total of $594,551, which was accounted for as a debt forgiveness from a related party and therefore a contribution of capital, in the amount of $594,551, recognized for the year ending December 31, 2014. Additionally, the former officer and director agreed as part of the settlement to sell 1.5 million shares owned by him with one-third of the proceeds to be retained by him, including an expected minimum of $55,000, and two-thirds of the proceeds to be paid to the Company. The Nevada Court confirmed the settlement agreement on October 2, 2014. Subsequent to the Court confirmation of the Settlement Agreement, the former officer and director entered into an amendment to the Settlement Agreement pursuant to which he agreed to cancel 950,000 of the 1,500,000 shares, while retaining 550,000 shares.

Material_Agreements_and_Other_

Material Agreements and Other Matters	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
7. Material Agreements and Other Matters	In May 2013, the Company entered into an agreement with Bibicoff & MacInnis, Inc. to provide stockholder financial community and investor relations and to serve as a consultant to the Company’s Board of Directors. The agreement became effective May 1, 2013 and terminates on October 30, 2014. If the agreement is not terminated by September 1, 2014, the agreement will convert to a month-to-months basis after October 2014 until cancelled with 60 days prior written notice. Fees payable to Bibicoff are $8,000 per month for the first four months, increasing to $11,000 per month for the next four months and increasing to $13,000 per month thereafter. The agreement with Bibicoff also requires the payment of certain fees to Bibicoff in connection with financing transactions. In connection with said agreement, Mr. Bibicoff subscribed to purchase 507,864 shares of Common Stock at $.04 per share at a subscription price of $20,315. Mr. MacInnis subscribed to purchase 338,576 shares at $.04 per share at a subscription price of $13,543 (see note 5 above). The Company has not recorded the subscription receivable as of December 31, 2014 and 2013 and will recognize the transaction upon payment in part or full.
	On October 1, 2013, the Company entered into an Operating Agreement with Hemo Manufacturing LLC. Hemo Manufacturing is to act as the exclusive supplier of manufactured products for the Company’s products. Pursuant to said agreement, 2,000,000, valued at $231,270, restricted shares of the Company’s Common Stock were issued. Under certain conditions, an additional 2,000,000 shares of the Company’s Common Stock would be issued in the event the Company is bought out by a third party. The Company anticipates booking all sales directly to customers and making payment for goods directly to Hemo Manufacturing. The managing member of Hemo Manufacturing will retain 100% of the profits earned by Hemo Manufacturing unless the Company is sold to a third party. In the event of such a sale, the managing member of Hemo Manufacturing and the Company would have equal share in the gross profits.
	In 2013, the Company entered into distribution agreements for Australasia and the military and the equestrian, dental and U.S. military markets.
	In August 2013, the Company entered into a consulting agreement with Douglas Beplate. Pursuant to said agreement, the Company retained Mr. Beplate for the exclusive purpose of developing and marketing its hemostatic gauze products. A signing bonus of 6,000,000 shares of Common Stock which resulted in recording compensation expense of $744,000 was agreed upon and was issued pursuant to the Company’s 2013 Employee Benefit and Consulting Services Compensation Plan. These 6,000,000 shares were issued in September 2013 after the Plan was filed with the Securities and Exchange Commission on Form S-8. In the event sales of the Company’s hemostatic gauze products excel $10 million, the Company is required to pay Mr. Beplate a cash commission of ½ of 1% on all sales achieved by the Company.
	In August 2013, the Company entered into an agreement with Melwood Partners. Pursuant to said agreement, the Company agreed to remove the restrictive legend on 250,000 shares owned by Melwood Partners and Melwood Partners agreed to cancel all cash and stock compensation owed to it by the Company. The Company agreed to enter into a new marketing agreement with Melwood Partners within 45 days on terms to be mutually agreed upon, however no said agreement has been entered into as of the filing date of this Form 10-K.
	In November 2014, the Company entered into employment agreement with Dr. Phillip Forman, Chairman of the Board, and Nate Knight, our Chief Financial Officer. Each employment agreement is terminable by the Company “at will.” Dr. Forman and Mr. Knight receive cash compensation of $5,000 per month and $4,000 per month, respectively. Dr. Forman received 3,000,000 shares as a signing bonus, subject to his cancellation of 2,090,000 shares which he volunteered to cancel in July 2013. Dr. Forman has been reportedly unable to locate his certificates totaling 2,090,000 shares to cancel. Mr. Knight received 500,000 shares as a signing bonus pursuant to his employment agreement. The spouse of our Chief Executive Officer entered into an employment agreement for her services in November 2014 as an office administrator and she received as an employee “at will” 500,000 shares as a signing bonus and a monthly salary of $4,000.

Other_Current_Liabilities

Other Current Liabilities	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
8. Other Current Liabilities	As of December 31, 2014 and 2013, included in other current liabilities are four outstanding notes to various individuals aggregating approximately $168,223 and $136,106 in principal and accrued interest, respectively. Interest accrues at the rate of 9% - 14% per annum.
	The Company has recognized a “Liability for unissued shares” for shares granted to employees and consultants, but unissued as of the balance sheet date. The granted shares are recorded at the fair market value of the shares to be issued at the grant date and a corresponding current liability is recorded for these unissued shares. The activity in this account and balances, classified as Liabilities for unissued shares, as of December 31 was as follows:
		2014			2013
	Balance, beginning	$	160,543		$	496,723
	Stock based compensation recognized		421,500			15,000
	Issuance of shares in satisfaction of liability		(15,000	)		(351,180	)
	Balance, ending	$	567,043		$	160,543
	The total number of shares granted but unissued were 5,595,711 and 1,683,211, as of December 31, 2014 and 2013, respectively.

Stock_Option_Plan

Stock Option Plan	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
9. Stock Option Plan	On August 8, 2013, the Board of Directors approved the 2013 Employee Benefit and Consulting Services Compensation Plan which has 15,000,000 shares that may be issued under said Plan. The Plan provides for the direct issuance of shares of common stock under the Plan and for the grant of non-statutory stock options on terms established by the Board of Directors or committee thereof. While the Plan does not require stockholder approval to be implemented, in the event stockholder approval is obtained on or before August 8, 2014, then incentive stock options could be granted under the Plan. In September 2013, the Company issued 6,000,000 shares of stock under said Plan to Douglas Beplate pursuant to his consulting contract described in Note 7.
	A summary of the option activity both under and outside of the 2013 Employee Benefit and Consulting Services Compensation Plan as of December 31, 2013 and 2014, and changes during the year then ended is presented below:
	Options
	Outstanding at January 1, 2013	7,025,000
	Forfeited	(4,875,000	)
	Outstanding at December 31, 2013	2,150,000
	Forfeited	(2,150,000	)
	Outstanding at December 2014	-0-

Income_Tax

Income Tax	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
10. Income Tax	The Company accounts for income taxes under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) No. 740, Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
		December 31,
		2014			2013
	Income tax provision (benefit) at statutory rate	$	(729,000	)	$	(383,000	)
	Change in valuation allowance		729,000			383,000
	Income Tax Expense	$	-		$	-
	Net deferred tax assets and liabilities were comprised of the following:
	Net Operating Losses	$	3,287,000		$	2,558,000
	Valuation allowance		(3,287,000	)		(2,558,000	)
	Deferred tax asset, net	$	-		$	-
	As of December 31, 2014, the Company has taxable net loss carryovers of approximately $9,668,000. The change in the valuation allowance for the years ended December 31, 2014 was $729,000.  Under the Internal Revenue Code of 1986, as amended, these losses can be carried forward twenty years. Net operating losses will expire through 2034.
	The Company did not take any uncertain tax positions and had no adjustments to its income tax liabilities or benefits pursuant to the provisions of Section 740-10-25 for the years ended December 31, 2014 or 2013. The Company's federal income tax returns for the years ended December 31, 2010 through December 31, 2014 remain subject to examination by the Internal Revenue Service as of December 31, 2014.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
11. Subsequent Events	In January 2015, Douglas Beplate converted $542,776 of indebtedness and a bonus of $147,803 for a total of $821,700 into 9.9 million shares of restricted Common Stock. Contemporaneously, the Company entered into an employment agreement with Douglas Beplate pursuant to which he received as a bonus 11.1 million shares of restricted Common Stock.
	On January 12, 2015, the Company entered into an employment agreement with Douglas Beplate pursuant to which he received a signing bonus of 11.1 million shares of restricted common stock and a monthly salary of $8,333. Mr. Beplate is entitled to an annual restricted stock bonus equal to 2 ½% of gross sales with the number of shares computed based upon the average closing sales price of the Company’s common stock in the month of December of each year. Upon the sale of all or substantially all of the assets of the Company or other change in control or merger transaction in which the Company is involved, Mr. Beplate will be rewarded with a number of shares of restricted common stock of the Company which equals 5% of the then outstanding shares of the Company’s common stock on a fully diluted basis. The common shares issued, at fair market value, is $1,000,000, which will be recognized as expense in the first quarter of 2015.
	In November and December 2014, the Company sold a private equity offering, whereby they received proceeds of $341,250 for subscriptions of 4,121,486 shares of our common stock. The shares were issued in January 2015. Since January 2015 to the date of this report, the Company has raised approximately $130,000 through a private equity offering at an offering price of $.083 per share. This offering is ongoing.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Notes to Financial Statements
Going Concern	The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company has incurred operating losses of $2,144,334 and $1,126,366 for the years ending December 31, 2014 and 2013, respectively. The Company’s history of recurring losses result in an accumulated deficit of $9,668,287. The Company has negative working capital and operations have not provided cash flows. Additionally, the Company does not currently have sufficient revenue producing operations to cover its operating expenses and meet its current obligations. In view of these matters, the Company’s ability to continue as a going concern is dependent upon the Company’s ability to expand operations and to achieve a level of profitability. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources, including term notes until such time that funds provided by operations are sufficient to fund working capital requirements. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.
	The Chief Executive Officer has agreed to advance funds or make payments of the Company’s obligations at his discretion. There is no written agreement to continue this support.
Consolidation	The accompanying consolidated financial statements include the accounts of the Company and its former wholly owned subsidiary, Epic Wound Care, Inc. (which was recently dissolved by the State of Florida), as of the dates and for the fiscal years indicated. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reported period. Changes in the economic environment, financial markets, as well as in the healthcare industry, and any other parameters used in determining these estimates, could cause actual results to differ.
Fair Value Measurements	Accounting principles generally accepted in the United States define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Additionally, the inputs used to measure fair value are prioritized based on a three-level hierarchy. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:
	Level 1 — Quoted prices in active markets for identical assets or liabilities. The Company’s investment in securities held for sale is fair valued by this method.
	Level 2 — Observable inputs other than quoted prices included in Level 1. We value assets and liabilities included in this level using dealer and broker quotations, bid prices, quoted prices for similar assets and liabilities in active markets, or other inputs that are observable or can be corroborated by observable market data.
	Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.
	Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of December 31, 2014 and 2013. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values due to the short-term nature of these instruments.
Income Taxes	The Company accounts for income taxes using a method that requires recognition of deferred tax assets and liabilities for expected future tax consequences of temporary differences that currently exist between tax bases and financial reporting bases of the Company’s assets and liabilities which is commonly known as the asset and liability method. In assessing the ability to realize deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized.
	The Company evaluates its tax positions taken or expected to be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are ‘‘more-likely-than-not’’ of being sustained by the applicable tax authority. Tax positions not deemed to meet the “more-likely-than-not” threshold are recorded as an expense in the applicable year. The Company does not have a liability for any unrecognized tax benefits. Management’s evaluation of uncertain tax positions may be subject to review and adjustment at a later date based upon factors including, but not limited to, an on-going analysis of tax laws, regulations and interpretations thereof, with due consideration given to the fact that tax periods are open to examination by tax authorities. Management believes the Company is no longer subject to income examinations for years prior to 2010.
	As of December 31, 2014, the Company has approximately $9.5 million of net operating loss carry-forwards available to affect future taxable income and has established a valuation allowance equal to the tax benefit of the net operating loss carry forwards and temporary differences as realization of the asset is not assured.
Revenue Recognition	The Company recognizes revenues when persuasive evidence of an arrangement exists, product has been delivered or services have been rendered, the price is fixed or determinable and collectability is reasonably assured. Revenue is recognized net of estimated sales returns and allowances.
	Revenues are attributable to the sale of medical products through distributor agreements. The principal terms of the agreements provide that the distributor orders be accompanied by partial payment in advance, which at least equals 50% of total manufactured cost, as defined, for orders for distributor inventory and, in addition, an agreed portion of the distributor’s gross profit on special orders. The balance of the manufactured cost is due from the distributor at the time of shipment. The Company is also entitled to an agreed percentage of the distributor’s profit on receipt by the distributor. The Company defers all amounts received in advance of shipment and recognizes as revenue the aggregate of amounts invoiced in advance and an estimate of the Company’s portion of distributor’s profit at the time of shipment.
Stock Based Compensation	The Company issues restricted stock to consultants and employees for various services. Cost for these transactions are measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The value of the common stock for non-employees is measured at the date at which a firm commitment for performance by the counterparty to earn the equity instruments is reached and expense is recognized during the term at which the counterparty's performance is earned or at the date the shares are considered non-forfeitable. The Company recognized consulting expenses and a corresponding increase to additional paid-in-capital related to stock issued for services. Compensation for employee stock grants are recognized at the fair market value of the shares at the date of grant and recognized at the grant date, as it is considered that the shares issued are considered non-forfeitable at the date of grant. Stock compensation for the periods presented were issued for past services provided, accordingly, all shares issued are fully vested, and there is no unrecognized compensation associated with these transactions.
Per Share Information	Basic earnings per share are calculated using the weighted average number of common shares outstanding for the period presented. Diluted loss per share is the same as basic loss per share, as the effect of potentially dilutive securities (-0- options and -0- warrants at December 31, 2014 and 2,150,000 options and 1,698,378 warrants at December 31, 2013), is anti-dilutive.
New Accounting Pronouncements	In May 2014, FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. The revenue recognition standard affects all entities that have contracts with customers, except for certain items. The new revenue recognition standard eliminates the transaction-and industry-specific revenue recognition guidance under current GAAP and replaces it with a principle-based approach for determining revenue recognition. Public entities are required to adopt the revenue recognition standard for reporting periods beginning after December 15, 2016, and interim and annual reporting periods thereafter. Early adoption is not permitted for public entities. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.
	In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. Management has reviewed the ASU and believes that they currently account for these awards in a manner consistent with the new guidance, therefore there is no anticipation of any effect to the consolidated financial statements.
	In August 2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met conditions which would subject these consolidated financial statements for additional disclosure.
	The Company considers all new pronouncements and management has determined that there have been no other recently adopted or issued accounting standards that had or will have a material impact on its Consolidated Financial Statements.

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions Tables
Transactions with LeadDog Capital LP	Expected volatility	102	%
	Expected dividend yield	0	%
	Risk-free interest rate	1.75	%
	Expected term (in years)	0.5

Other_Current_Liabilities_Tabl

Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2014
Other Current Liabilities Tables
Other Current Liabilities		2014			2013
	Balance, beginning	$	160,543		$	496,723
	Stock based compensation recognized		421,500			15,000
	Issuance of shares in satisfaction of liability		(15,000	)		(351,180	)
	Balance, ending	$	567,043		$	160,543

Stock_Option_Plan_Tables

Stock Option Plan (Tables)	12 Months Ended
	Dec. 31, 2014
Stock Option Plan Tables
Employee Benefit and Consulting Services Compensation Plan	Options
	Outstanding at January 1, 2013	7,025,000
	Forfeited	(4,875,000	)
	Outstanding at December 31, 2013	2,150,000
	Forfeited	(2,150,000	)
	Outstanding at December 2014	-0-

Income_Tax_Tables

Income Tax (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Tables
Summary of deferred tax assets and liabilities		December 31,
		2014			2013
	Income tax provision (benefit) at statutory rate	$	(729,000	)	$	(383,000	)
	Change in valuation allowance		729,000			383,000
	Income Tax Expense	$	-		$	-
	Net deferred tax assets and liabilities were comprised of the following:
	Net Operating Losses	$	3,287,000		$	2,558,000
	Valuation allowance		(3,287,000	)		(2,558,000	)
	Deferred tax asset, net	$	-		$	-

Significant_Accounting_Policie2

Significant Accounting Policies (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Significant Accounting Policies Details Narrative
Incurred operating losses	$2,144,334	$1,126,366
Accumulated deficit	9,668,287	7,523,953
Net operating loss carry-forwards	$9,500,000
Options, anti-dilutive	0	2,150,000
Warrants, anti-dilutive	0	1,698,378

Acquisition_of_Intellectual_Pr1

Acquisition of Intellectual Property Rights (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Acquisition Of Intellectual Property Rights Details Narrative
Amortization charge	$50,000	$100,000

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Related Party Transactions Details Narrative
Notes payable - related parties	$542,776	$625,224

Issuances_of_Securities_Detail

Issuances of Securities (Details)	12 Months Ended
	Dec. 31, 2014
Issuances Of Securities Details
Expected volatility	102.00%
Expected dividend yield	0.00%
Risk-free interest rate	1.75%
Expected term (in years)	6 months

Issuances_of_Securities_Detail1

Issuances of Securities (Details Narrative) (USD $)	Dec. 31, 2014
Issuances Of Securities Details Narrative
Shares issued	650,000
Fair market value	$539,500

Other_Current_Liabilities_Deta

Other Current Liabilities (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Other Current Liabilities Details
Balance, beginning	$160,543	$496,723
Stock based compensation recognized	421,500	15,000
Issuance of shares in satisfaction of liability	-15,000	-351,180
Balance, ending	$567,043	$160,543

Other_Current_Liabilities_Deta1

Other Current Liabilities (Details Narrative) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Outstanding notes	$168,223	$136,106
Shares granted unissued	5,595,711	1,683,211
Minimum [Member]
Interest accrues	9.00%
Maximum [Member]
Interest accrues	14.00%

Stock_Option_Plan_Details

Stock Option Plan (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Stock Option Plan Details
Outstanding at January 1	2,150,000	7,025,000
Forfeited	-2,150,000	-4,875,000
Outstanding at December 31	0	2,150,000

Income_Tax_Details

Income Tax (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Details
Income tax provision (benefit) at statutory rate	($729,000)	($383,000)
Change in valuation allowance	729,000	383,000
Income Tax Expense
Net deferred tax assets and liabilities were comprised of the following:
Net Operating Losses	3,287,000	2,558,000
Valuation allowance	-3,287,000	-2,558,000
Deferred tax asset, net

Income_Tax_Details_Narrative

Income Tax (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Details Narrative
Accumulated deficit	$9,668,287	$7,523,953
Change in valuation allowance	$729,000	$383,000