Manhattan Scientifics (MHTX) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 12, 2022
Cover [Abstract]
Entity Registrant Name	MANHATTAN SCIENTIFICS, INC.
Entity Central Index Key	0001099132
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		559,281,064
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	85-0460639
Entity Interactive Data Current	Yes
Entity File Number	000-28411
Entity Address Address Line 1	244 Fifth Ave
Entity Address Address Line 2	Suite 2341
Entity Address City Or Town	New York
Entity Address Postal Zip Code	10001
City Area Code	212
Local Phone Number	726-2107
Security 12b Title	Common Stock, $0.001 par value
Entity Address State Or Province	NY
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 386,000	$ 232,000
Prepaid expenses	14,000	15,000
Due from the sale of assets - current portion	0	300,000
Total current assets	400,000	547,000
Investment in equity securities	960,000	2,901,000
Property and equipment, net	2,000	4,000
Other assets	2,000	2,000
Total assets	1,364,000	3,454,000
Current liabilities:
Accounts payable and accrued expenses	118,000	102,000
Accrued expenses - related parties	1,273,000	1,129,000
Notes payable, net of discounts	143,000	130,000
Total current liabilities	1,534,000	1,361,000
Total liabilities	1,534,000	1,361,000
STOCKHOLDERS' EQUITY
Class C Redeemable Convertible Preferred, authorized 14,000, 0 and 0 shares issued and outstanding, respectively	0	0
Series D convertible preferred mandatory redeemable, authorized 105,761 shares, 105,761 and 105,761 shares issued and outstanding, respectively	1,058,000	1,058,000
Common, authorized 950,000,000 shares, 559,281,064 and 559,281,064 shares issued, and outstanding, respectively	559,000	559,000
Additional paid-in-capital	68,996,000	68,996,000
Accumulated deficit	(70,783,000)	(68,520,000)
Total stockholders' equity	(1,228,000)	1,035,000
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	1,364,000	3,454,000
Class A Convertible Preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred, authorized 447,804 shares, 0 and 0 shares issued, and outstanding, respectively	0	0
Series B convertible preferred Stock [Member]
STOCKHOLDERS' EQUITY
Preferred, authorized 447,804 shares, 0 and 0 shares issued, and outstanding, respectively	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Capital stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	447,804	447,804
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	950,000,000	950,000,000
Common stock, shares issued	559,281,064	559,281,064
Common stock, shares outstanding	559,281,064	559,281,064
Class A Convertible Preferred Stock [Member]
Preferred stock, shares authorized	182,525	182,525
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class B Convertible Preferred Stock [Member]
Preferred stock, shares authorized	250,000	250,000
Preferred stock, shares issued	49,999	49,999
Preferred stock, shares outstanding	49,999	49,999
Class C Redeemable Convertible Preferred Stock [Member]
Preferred stock, shares authorized	14,000	14,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series D convertible preferred mandatory redeemable stock [Member]
Preferred stock, shares authorized	105,761	105,761
Preferred stock, shares issued	105,761	105,761
Preferred stock, shares outstanding	105,761	105,761

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Revenue	$ 41,000	$ 50,000	$ 41,000	$ 50,000
Operating costs:
General and administrative expenses	193,000	209,000	373,000	390,000
Research and development	2,000	2,000	5,000	5,000
Total operating costs and expenses	195,000	211,000	378,000	395,000
Loss from operations	(154,000)	$ (161,000)	$ (337,000)	$ (345,000)
Other income (expense):		0	0	0
Gain (Loss) on fair value adjustment of investments	(1,456,000)	$ (2,415,000)	$ (1,913,000)	$ (2,091,000)
Interest expense	(6,000)	(7,000)	(13,000)	(13,000)
Total other income (expense)	(1,462,000)	(2,422,000)	(1,926,000)	(2,104,000)
NET INCOME (LOSS)	$ (1,616,000)	$ (2,583,000)	$ (2,263,000)	$ (2,449,000)
INCOME (LOSS) PER COMMON SHARE:
Weighted average number of common shares outstanding (Basic and Diluted)	559,281,064	559,281,064	559,281,064	559,281,064
Basic and Diluted income (loss) per common share (Basic and Diluted)	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($)	Total	Preferred Stock Series B	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)
Balance, shares at Dec. 31, 2020		49,999	559,281,064
Balance, amount at Dec. 31, 2020	$ 4,674,000	$ 0	$ 559,000	$ 68,996,000	$ (64,881,000)
Net income	134,000	$ 0	$ 0	0	134,000
Balance, shares at Mar. 31, 2021		49,999	559,281,064
Balance, amount at Mar. 31, 2021	4,808,000	$ 0	$ 559,000	68,996,000	(64,747,000)
Balance, shares at Dec. 31, 2020		49,999	559,281,064
Balance, amount at Dec. 31, 2020	4,674,000	$ 0	$ 559,000	68,996,000	(64,881,000)
Net income	(2,449,000)
Balance, shares at Jun. 30, 2021		49,999	559,281,064
Balance, amount at Jun. 30, 2021	2,225,000	$ 0	$ 559,000	68,996,000	(67,330,000)
Balance, shares at Mar. 31, 2021		49,999	559,281,064
Balance, amount at Mar. 31, 2021	4,808,000	$ 0	$ 559,000	68,996,000	(64,747,000)
Net income	(2,583,000)	$ 0	$ 0	0	(2,583,000)
Balance, shares at Jun. 30, 2021		49,999	559,281,064
Balance, amount at Jun. 30, 2021	2,225,000	$ 0	$ 559,000	68,996,000	(67,330,000)
Balance, shares at Dec. 31, 2021		49,999	559,281,064
Balance, amount at Dec. 31, 2021	1,035,000	$ 0	$ 559,000	68,996,000	(68,520,000)
Net income	(647,000)	$ 0	$ 0	0	(647,000)
Balance, shares at Mar. 31, 2022		49,999	559,281,064
Balance, amount at Mar. 31, 2022	388,000	$ 0	$ 559,000	68,996,000	(69,167,000)
Balance, shares at Dec. 31, 2021		49,999	559,281,064
Balance, amount at Dec. 31, 2021	1,035,000	$ 0	$ 559,000	68,996,000	(68,520,000)
Net income	(2,263,000)
Balance, shares at Jun. 30, 2022		49,999	559,281,064
Balance, amount at Jun. 30, 2022	(1,228,000)	$ 0	$ 559,000	68,996,000	(70,783,000)
Balance, shares at Mar. 31, 2022		49,999	559,281,064
Balance, amount at Mar. 31, 2022	388,000	$ 0	$ 559,000	68,996,000	(69,167,000)
Net income	(1,616,000)	$ 0	$ 0	0	(1,616,000)
Balance, shares at Jun. 30, 2022		49,999	559,281,064
Balance, amount at Jun. 30, 2022	$ (1,228,000)	$ 0	$ 559,000	$ 68,996,000	$ (70,783,000)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (2,263,000)	$ (2,449,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	2,000	4,000
Loss on fair value adjustment of investments	1,913,000	2,091,000
Amortization of debt discount	13,000	13,000
Changes in:
Prepaid expenses	1,000	0
Accounts payable and accrued expenses	16,000	3,000
Accounts payable and accrued expenses - related party	144,000	140,000
Net cash used in operating activities	(174,000)	(198,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	0	(3,000)
Proceeds from the sale of investments	28,000	0
Proceeds from sale of assets held for sale	300,000	300,000
Net cash from investing activities	328,000	297,000
CASH FLOWS FROM FINANCING ACTIVITIES:
Net cash from financing activities	0	0
NET DECREASE IN CASH	154,000	99,000
CASH, BEGINNING OF PERIOD	232,000	353,000
CASH, END OF PERIOD	386,000	452,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	$ 0	$ 0

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION
NOTE 1 - BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION The foregoing unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions for Form 10-Q and Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, these financial statements do not include all of the disclosures required by generally accepted accounting principles in the United States of America for complete financial statements. These unaudited interim financial statements should be read in conjunction with the audited financial statements and the notes thereto included on Form 10-K for the year ended December 31, 2021, filed on April 6, 2022. In the opinion of management, the unaudited interim financial statements furnished herein include all adjustments, all of which are of a normal recurring nature, necessary for a fair statement of the results for the interim period presented. Operating results for the six months period ended June 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The condensed consolidated balance sheet at December 31, 2021 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles in the U.S. for complete financial statements. As of June 30, 2022, the Company has an accumulated deficit of 70,783,000 and negative working capital of $1,134,000. Because of these conditions, the Company will require additional working capital to develop business operations. The Company intends to raise additional working capital through the continued licensing of its technology as well as to generate revenues for other services. There are no assurances that the Company will be able to achieve the level of revenues adequate to generate sufficient cash flow from operations to support the Company’s working capital requirements. To the extent that funds generated are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available, the Company may not continue its operations. As of the filing date, the Coronavirus (“COVID-19”) has caused significant volatility in global markets, including the market price of our securities. The demand for our products and services has decreased and the ability of our customers to make payments for the products and services they purchased has been negatively impacted. These factors raise substantial doubt about the Company’s ability to continue within one year from the date of filing these financial statements. These 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 possible inability of the Company to continue as a going concern. The ability to continue as a going concern is dependent on out generating cash from the sale of our common stock and/or obtaining debt financing and attaining future profitable operations. Management’s plan includes selling our equity securities and/or obtaining debt financing to fund our capital requirement and ongoing operations; however, there can be no assurance the Company will be successful in these efforts.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS	6 Months Ended
	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS BASIS OF CONSOLIDATION: The condensed consolidated financial statements include the accounts of Manhattan Scientific, Inc., and its wholly owned subsidiary, Metallicum, Inc. All significant intercompany balances and transactions have been eliminated. USE OF ESTIMATES: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amount of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. A significant estimate includes the carrying value of the Company’s patents, fair value of the Company’s common stock, assumptions used in calculating the value of stock options, depreciation and amortization. CASH AND CASH EQUIVALENTS: The Company considers all highly liquid investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents for the purposes of the statement of cash flows. CASH CONCENTRATION: The Company’s cash accounts are federally insured up to $250,000 for each financial institution we hold our accounts in. As of June 30, 2022 and December 31, 2021, we had cash balances of $102,000 and $0 exceeding the federally insured limits. PROPERTY AND EQUIPMENT: Property and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized, and minor replacements, maintenance, and repairs are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets, the useful lives range between 3-10 years, using the straight-line method for financial statement purposes. INTANGIBLE ASSETS: License Agreements In 2008, the Company obtained licenses to the rights of certain patents regarding nanostructured materials developed by another company as a result of the acquisition of Metallicum. The purchase price paid for these licenses was $305,000, which represented its fair value. The Company obtained an exclusive license on two patents and a non-exclusive license on the third patent. The value attributable to license agreements is being amortized over the period of its estimated benefit period of 10 years. At June 30, 2022 and December 31, 2021, the license agreements were fully amortized. Under the terms of the agreement, the Company may be required to pay royalties, as defined, to the licensors. In 2009, the Company entered into a patent license agreement with Los Alamos National Security LLC for the exclusive use of certain technology relating to the manufacture and application of nanostructuring metals and alloys. The purchase price paid for this license agreement was $33,000 based on the fair market value of 2,000,000 shares of common stock issued. The value attributable to license agreements is being amortized over the period of its estimated benefit period of 10 years. At June 30, 2022 and December 31, 2021, the license agreements were fully amortized. Beginning in 2010, the Company was required to pay an annual license fee of $10,000 and may be required to pay royalties, as defined, to the licensors. DUE FROM THE SALE OF ASSETS: Non-current assets are classified as held for sale if it is highly probably that they will be recovered primarily through sale rather than through continuing use. Immediately before classification as held for sale, the assets are remeasured at the lower of their carrying amount and fair value less costs to sell. Any impairment loss on initial classification as held for sale and subsequent gains and losses on re-measurement are recognized in profit or loss. Gains are not recognized in excess of any cumulative impairment loss. During the year ended December 31, 2019, the Company sold the assets held for sale that were presented on the balance sheet as of December 31, 2018. During the year ended December 31, 2018, the Company recorded impairment and adjusted the asset valuation to $1.2 million. The Company sold the assets for a total of $1.2 million of which $300,000 was received during the year ended December 31, 2019. The remaining $900,000 collected during the next three years in equal increments on the anniversary date of the agreement, May 1. During May 2022 and 2021, the Company received $300,000 and reduced the due from the sale of assets to the balance of $0. MARKETABLE SECURITIES: The Company considers securities with original maturities of greater than 90 days to be available for sale securities. Securities under this classification are recorded at fair value and unrealized gains and losses within other income (loss). The estimated fair value of the available for sale securities is determined based on quoted market prices or rates for similar instruments. In addition, the cost of debt securities in this category is adjusted for amortization of premium and accretion of discount to maturity. For available for sale debt securities in an unrealized loss position, the Company assesses whether it intends to sell or if it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value. If the criteria are not met, the Company evaluates whether the decline in fair value has resulted from a credit loss or other factors. In making this assessment, management considers, among other factors, the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized costs basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other income (loss). For the three months ended June 30, 2022, no allowance was recorded for credit losses. REVENUE RECOGNITION: The Company recognizes revenue in accordance with generally accepted accounting principles as outlined in the Financial Accounting Standard Board’s (“FASB”) Accounting Standards Codification (“ASC”) 606, Revenue From Contracts with Customers, which consists of five steps to evaluating contracts with customers for revenue recognition: (i) identify the contract with the customer; (ii) identity the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price; and (v) recognize revenue when or as the entity satisfied a performance obligation. Revenue recognition occurs at the time we satisfy a performance obligation to our customers, when control transfers to customers, provided there are no material remaining performance obligations required of the Company or any matters of customer acceptance. We only record revenue when collectability is probable. The revenue was generated was from minimum royalty payments from the license agreement. FAIR VALUE OF FINANCIAL INSTRUMENTS: The Company recognized the fair value of financial instruments in accordance with FASB ASC 820, Fair Value Measurements and Disclosures, “Fair Value Measurements”, which provides a framework for measuring fair value under GAAP. Fair value is defined 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 on the measurement date. The standard also expands disclosures about instruments measured at fair value and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices for identical assets and liabilities in active markets; Level 2 — Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company designates cash equivalents (consisting of money market funds) and investments in securities of publicly traded companies as Level 1. The total amount of the Company’s investment classified as Level 3 is de minimis. The carrying amounts of financial instruments, including cash and cash equivalents, short-term investments, accounts payable, accrued expenses and notes payables approximated fair value as of June 30, 2022 and December 31, 2021 because of the relative short term nature of these instruments. During the year ended December 31, 2017, the Company elected fair value option for its investment in Imagion Biosystems, Inc. a Nevada company (“Imagion”) based on triggering event of dilution of ownership, which lead to the deconsolidation of Imagion. Investments in Imagion are measured at fair value as opposed to equity method based on ASC 825-10. The guidance allows entities to elect to measure certain financial assets and financial liabilities (as well as certain nonfinancial instruments that are similar to financial instruments) at fair value. Investments over which an investor has the ability to exercise significant influence are eligible for the fair value option as they represent recognized financial assets. When the fair value option is elected for an instrument, all subsequent changes in fair value for that instrument are reported in earnings. As of June 30, 2022, the Company holds 51,766,508 shares of Imagion and is reported under fair value method under ASC 320. Any change in the value is reported on the income statement as an unrealized gain or loss. Our financial assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2022 and December 31, 2021, consisted of the following: Total fair value at June 30, 2022 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 960,000 $ 960,000 $ - $ - Total fair value at December 31, 2021 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 2,901,000 $ 2,901,000 $ - $ - LEASES The Company leases a facility with terms of month to month for its headquarters. The Company adopted ASC 842 on January 1, 2019 and has evaluated that has no impact on the financial statements as under the practical expedient the leases consist of terms less than one year, and therefore is not required to capitalize the lease. INCOME TAXES The Company accounts for income taxes under an asset and liability approach. This process involves calculating the temporary and permanent differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The temporary differences result in deferred tax assets and liabilities, which would be recorded on the Company’s consolidated balance sheets in accordance with ASC 740, which established financial accounting and reporting standards for the effect of income taxes. The Company must assess the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, the Company must establish a valuation allowance. Changes in the Company’s valuation allowance in a period are recorded through the income tax provision on the consolidated statements of operations. ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements and prescribes a recognition threshold and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on a tax return. Under ASC 740-10, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Additionally, ASC 740-10 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As a result of the implementation of ASC 740-10, the Company recognized no material adjustment in the liability for unrecognized income tax benefits. BASIC AND DILUTED EARNINGS (LOSS) PER SHARE In accordance with FASB ASC 260, “Earnings Per Share,” the basic loss per share is computed by dividing the loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Basic net income (loss) per share excludes the dilutive effect of stock options or warrants and convertible notes Diluted net earnings (loss) per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents, consisting of shares that might be issued upon exercise of common stock options and warrants. In periods where losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. As of June 30, 2022 and 2021, 28,922,917 and 34,922,917, respectively, dilutive shares were excluded from the calculation of diluted earnings (loss) per common share, as the effect of these shares on earnings per share would have been anti-dilutive; however, dilutive shares were included from the calculation of diluted income common shares for the six months ended June 30, 2022. The following table shows the computation of basic and diluted earnings (loss) per share for the three months ended June 30, 2022 and 2021: Three Months Ended June 30 , 2022 June 30 , 2021 Numerator: Net income (loss) $ (1,616,000 ) $ (2,583,000 ) Denominator: Weighted-average basic shares outstanding 559,281,064 559,281,064 Effect of dilutive securities - - Weighted-average diluted shares 559,281,064 559,281,064 Basic earnings (loss) per share $ (0.00 ) $ (0.00 ) Diluted earnings (loss) per share $ (0.00 ) $ (0.00 ) The following table shows the computation of basic and diluted earnings (loss) per share for the six months ended June 30, 2022 and 2021: Six Months Ended June 30 , 2022 June 30 , 2021 Numerator: Net income (loss) $ (2,263,000 ) $ (2,449,000 ) Denominator: Weighted-average basic shares outstanding 559,281,064 559,281,064 Effect of dilutive securities - - Weighted-average diluted shares 559,281,064 559,281,064 Basic earnings (loss) per share $ (0.00 ) $ (0.00 ) Diluted earnings (loss) per share $ (0.00 ) $ (0.00 ) STOCK BASED COMPENSATION The Company accounts for stock-based compensation based on the fair value of all option grants or stock issuances made to employees or directors on or after its implementation date (the beginning of fiscal 2006), as well as a portion of the fair value of each option and stock grant made to employees or directors prior to the implementation date that represents the unvested portion of these share-based awards as of such implementation date, to be recognized as an expense, as codified in ASC 718. The Company calculates stock option-based compensation by estimating the fair value of each option as of its date of grant using the Black-Scholes option pricing model. These amounts are expensed over the respective vesting periods of each award using the straight-line attribution method. Compensation expense is recognized only for those awards that are expected to vest, and as such, amounts have been reduced by estimated forfeitures. The Company has historically issued stock options and vested and non-vested stock grants to employees and outside directors whose only condition for vesting has been continued employment or service during the related vesting or restriction period. The estimated fair value of grants of stock options and warrants to nonemployees of the Company is charged to expense, if applicable, in the financial statements. The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. In June 2018, FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718) Improvements to Nonemployee Share Based Payment Accounting. The Company adopted with an effective date of January 1, 2019. Upon adoption, there was no material impact to the financial statements. RECENT ACCOUNTING PRONOUNCEMENTS In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which address issues identified as a result of the complexity associated with applying generally accepted accounting principles for certain financial instruments with characteristics of liabilities and equity. This amendment is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company does not expect the adoption of recently issued accounting pronouncements to have a potential impact on the Company’s results of operations, financial position or cash flow. The Company has evaluated all recent accounting pronouncements and none are expected to have a material impact on the condensed consolidated financial statements.

INVESTMENT IN IMAGION BIOSYSTEM

INVESTMENT IN IMAGION BIOSYSTEMS	6 Months Ended
	Jun. 30, 2022
INVESTMENT IN IMAGION BIOSYSTEMS
NOTE 3 - INVESTMENT IN IMAGION BIOSYSTEMS	NOTE 3 – INVESTMENT IN IMAGION BIOSYSTEMS As of June 30, 2022, the Company owns 51,766,508 shares of Imagion, resulting in a noncontrolling interest of Imagion’s issued and outstanding common stock. Based upon Imagion’s trading price on June 30, 2022, approximately $0.02 per share, the fair value of the Imagion shares was approximately $960,000. During the six months ended June 30, 2022, the Company recorded a loss on fair value in its investment of $1,913,000. Below is reconciliation for the changes to the investment in Imagion for the six months ended June 30, 2022: Balance as of December 31, 2021 $ 2,901,000 Change due to the sale of securities (28,000 ) Change in the unrealized fair value of securities (1,913,000 ) Balance as of June 30, 2022 $ 960,000

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2022
NOTES PAYABLE
NOTE 4 - NOTES PAYABLE	NOTE 4 – NOTES PAYABLE On October 17, 2019, The Company executed a secured note with an individual for $50,000. The secured note is due on October 17, 2022. The Company agreed that the note bears interest at 10% per annum, to be paid in advance in shares of Imagion Biosystems Limited common stock (IBX), calculated at $0.015 per share with 1 million shares of IBX common stock. The amortization of debt discount for the six months ended June 30, 2022 was $7,000. Notes payable $ 150,000 Less: Discounts on notes payable (7,000 ) Notes payable, net of discounts $ 143,000

CAPITAL TRANSACTIONS

CAPITAL TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
CAPITAL TRANSACTIONS
NOTE 5 - CAPITAL TRANSACTIONS	NOTE 5 – CAPTIAL TRANSACTIONS Stock Activity During the six months ended June 30, 2022, the Company had not issued common stock. Options At June 30, 2022, the 26,500,000 outstanding options had an aggregate intrinsic value of $0. A summary of the Company’s stock option activity and related information is as follows: Number of Options Weighted Average Exercise Price Weighted Average Remaining Life Number of Options Exercisable Aggregate Intrinsic Value Outstanding as of December 31, 2021 26,500,000 $ 0.04 6.06 26,500,000 $ 15,000 Granted - - - - - Exercised - - - - - Expired - - - - - Outstanding as of June 30, 2022 26,500,000 $ 0.04 5.87 26,500,000 $ 0 Exercise prices and weighted-average contractual lives of 26,500,000 stock options outstanding as of June 30, 2022 are as follows: Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.05 3,000,000 3.00 $ 0.05 3,000,000 $ 0.05 $ 0.06 5,000,000 3.1 $ 0.06 5,000,000 $ 0.06 $ 0.14 3,000,000 2.00 $ 0.14 3,000,000 $ 0.14 $ 0.02 15,500,000 8.06 $ 0.02 15,500,000 $ 0.02 The fair value for options granted were determined using the Black-Scholes option-pricing model. The Company did not recognize compensation expense during the three months ended June 30, 2022.

LICENSE AGREEMENT

LICENSE AGREEMENT	6 Months Ended
	Jun. 30, 2022
LICENSE AGREEMENT
NOTE 6 - LICENSE AGREEMENT	NOTE 6 – LICENSE AGREEMENT On May 1, 2019, the Company, entered into an agreement with a non-affiliated third party (“Third Party”), providing for an exclusive license by the Company of its ECAP technology to the Third Party for a term of 17 years unless terminated sooner, a sublicense by the Company to the Third Party of its rights under that certain Exclusive Field-of-Use Patent License Agreement dated January 5, 2009 entered with The Los Alamos National Laboratory for a term until the expiration of the last valid claim to expire of the patents pursuant to such agreement and the sale by the Company of ECAP-C machines to the Third party. As part of the above license agreements, the Company will receive royalty payments, including minimum payments, based on a percentage of the Third Party’s sales. Royalties will be 10% on gross sales of licensed dental products and average of 5% on all other sales of licensed products. During the six months ended June 30, 2022, the Company received $41,000 as a minimum royalty payment.

COMMITMENTS AND CONTIGENCIES

COMMITMENTS AND CONTIGENCIES	6 Months Ended
	Jun. 30, 2022
COMMITMENTS AND CONTIGENCIES
NOTE 7 - COMMITMENTS AND CONTIGENCIES	NOTE 7 – COMMITMENTS AND CONTINGENCIES Legal matter contingencies The Company believes, based on current knowledge and after consultation with counsel, that it is not currently party to any material pending proceedings, individually or in the aggregate, the resolution of which would have a material effect on the Company. Provisions for losses are established in accordance with ASC 450, “Contingencies” when warranted. Once established, such provisions are adjusted when there is more information available of when an event occurs requiring a change.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2022
RELATED PARTY TRANSACTIONS
NOTE 8 - RELATED PARTY TRANSACTIONS	NOTE 8 – RELATED PARTY TRANSACTIONS As of June 30, 2022 and December 31, 2021, the Company had accrued expenses to related parties of approximately $1,273,000 and $1,129,000. As of June 30, 2022, the amounts are due to the Company’s sole officer for compensation $309,000 and the chairman of the board for compensation of $891,000 and the members of the board of directors of $73,000.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS (Policies)	6 Months Ended
	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS
BASIS OF CONSOLIDATION	The condensed consolidated financial statements include the accounts of Manhattan Scientific, Inc., and its wholly owned subsidiary, Metallicum, Inc. All significant intercompany balances and transactions have been eliminated.
USE OF ESTIMATES	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amount of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. A significant estimate includes the carrying value of the Company’s patents, fair value of the Company’s common stock, assumptions used in calculating the value of stock options, depreciation and amortization.
CASH AND CASH EQUIVALENTS	The Company considers all highly liquid investments purchased with an original maturity of three months or less at the time of purchase to be cash equivalents for the purposes of the statement of cash flows.
CASH CONCENTRATION	The Company’s cash accounts are federally insured up to $250,000 for each financial institution we hold our accounts in. As of June 30, 2022 and December 31, 2021, we had cash balances of $102,000 and $0 exceeding the federally insured limits.
PROPERTY AND EQUIPMENT	Property and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized, and minor replacements, maintenance, and repairs are charged to expense as incurred. When property and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets, the useful lives range between 3-10 years, using the straight-line method for financial statement purposes.
INTANGIBLE ASSETS	License Agreements In 2008, the Company obtained licenses to the rights of certain patents regarding nanostructured materials developed by another company as a result of the acquisition of Metallicum. The purchase price paid for these licenses was $305,000, which represented its fair value. The Company obtained an exclusive license on two patents and a non-exclusive license on the third patent. The value attributable to license agreements is being amortized over the period of its estimated benefit period of 10 years. At June 30, 2022 and December 31, 2021, the license agreements were fully amortized. Under the terms of the agreement, the Company may be required to pay royalties, as defined, to the licensors. In 2009, the Company entered into a patent license agreement with Los Alamos National Security LLC for the exclusive use of certain technology relating to the manufacture and application of nanostructuring metals and alloys. The purchase price paid for this license agreement was $33,000 based on the fair market value of 2,000,000 shares of common stock issued. The value attributable to license agreements is being amortized over the period of its estimated benefit period of 10 years. At June 30, 2022 and December 31, 2021, the license agreements were fully amortized. Beginning in 2010, the Company was required to pay an annual license fee of $10,000 and may be required to pay royalties, as defined, to the licensors.
DUE FROM THE SALE OF ASSETS	Non-current assets are classified as held for sale if it is highly probably that they will be recovered primarily through sale rather than through continuing use. Immediately before classification as held for sale, the assets are remeasured at the lower of their carrying amount and fair value less costs to sell. Any impairment loss on initial classification as held for sale and subsequent gains and losses on re-measurement are recognized in profit or loss. Gains are not recognized in excess of any cumulative impairment loss. During the year ended December 31, 2019, the Company sold the assets held for sale that were presented on the balance sheet as of December 31, 2018. During the year ended December 31, 2018, the Company recorded impairment and adjusted the asset valuation to $1.2 million. The Company sold the assets for a total of $1.2 million of which $300,000 was received during the year ended December 31, 2019. The remaining $900,000 collected during the next three years in equal increments on the anniversary date of the agreement, May 1. During May 2022 and 2021, the Company received $300,000 and reduced the due from the sale of assets to the balance of $0.
MARKETABLE SECURITIES	The Company considers securities with original maturities of greater than 90 days to be available for sale securities. Securities under this classification are recorded at fair value and unrealized gains and losses within other income (loss). The estimated fair value of the available for sale securities is determined based on quoted market prices or rates for similar instruments. In addition, the cost of debt securities in this category is adjusted for amortization of premium and accretion of discount to maturity. For available for sale debt securities in an unrealized loss position, the Company assesses whether it intends to sell or if it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the security’s amortized cost basis is written down to fair value. If the criteria are not met, the Company evaluates whether the decline in fair value has resulted from a credit loss or other factors. In making this assessment, management considers, among other factors, the extent to which fair value is less than amortized cost, any changes to the rating of the security by a rating agency, and adverse conditions specifically related to the security. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the security are compared to the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount that the fair value is less than the amortized costs basis. Any impairment that has not been recorded through an allowance for credit losses is recognized in other income (loss). For the three months ended June 30, 2022, no allowance was recorded for credit losses.
REVENUE RECOGNITION	The Company recognizes revenue in accordance with generally accepted accounting principles as outlined in the Financial Accounting Standard Board’s (“FASB”) Accounting Standards Codification (“ASC”) 606, Revenue From Contracts with Customers, which consists of five steps to evaluating contracts with customers for revenue recognition: (i) identify the contract with the customer; (ii) identity the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price; and (v) recognize revenue when or as the entity satisfied a performance obligation. Revenue recognition occurs at the time we satisfy a performance obligation to our customers, when control transfers to customers, provided there are no material remaining performance obligations required of the Company or any matters of customer acceptance. We only record revenue when collectability is probable. The revenue was generated was from minimum royalty payments from the license agreement.
FAIR VALUE OF FINANCIAL INSTRUMENTS	The Company recognized the fair value of financial instruments in accordance with FASB ASC 820, Fair Value Measurements and Disclosures, “Fair Value Measurements”, which provides a framework for measuring fair value under GAAP. Fair value is defined 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 on the measurement date. The standard also expands disclosures about instruments measured at fair value and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 — Quoted prices for identical assets and liabilities in active markets; Level 2 — Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The Company designates cash equivalents (consisting of money market funds) and investments in securities of publicly traded companies as Level 1. The total amount of the Company’s investment classified as Level 3 is de minimis. The carrying amounts of financial instruments, including cash and cash equivalents, short-term investments, accounts payable, accrued expenses and notes payables approximated fair value as of June 30, 2022 and December 31, 2021 because of the relative short term nature of these instruments. During the year ended December 31, 2017, the Company elected fair value option for its investment in Imagion Biosystems, Inc. a Nevada company (“Imagion”) based on triggering event of dilution of ownership, which lead to the deconsolidation of Imagion. Investments in Imagion are measured at fair value as opposed to equity method based on ASC 825-10. The guidance allows entities to elect to measure certain financial assets and financial liabilities (as well as certain nonfinancial instruments that are similar to financial instruments) at fair value. Investments over which an investor has the ability to exercise significant influence are eligible for the fair value option as they represent recognized financial assets. When the fair value option is elected for an instrument, all subsequent changes in fair value for that instrument are reported in earnings. As of June 30, 2022, the Company holds 51,766,508 shares of Imagion and is reported under fair value method under ASC 320. Any change in the value is reported on the income statement as an unrealized gain or loss. Our financial assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2022 and December 31, 2021, consisted of the following: Total fair value at June 30, 2022 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 960,000 $ 960,000 $ - $ - Total fair value at December 31, 2021 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 2,901,000 $ 2,901,000 $ - $ -
LEASES	The Company leases a facility with terms of month to month for its headquarters. The Company adopted ASC 842 on January 1, 2019 and has evaluated that has no impact on the financial statements as under the practical expedient the leases consist of terms less than one year, and therefore is not required to capitalize the lease.
INCOME TAXES	The Company accounts for income taxes under an asset and liability approach. This process involves calculating the temporary and permanent differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The temporary differences result in deferred tax assets and liabilities, which would be recorded on the Company’s consolidated balance sheets in accordance with ASC 740, which established financial accounting and reporting standards for the effect of income taxes. The Company must assess the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, the Company must establish a valuation allowance. Changes in the Company’s valuation allowance in a period are recorded through the income tax provision on the consolidated statements of operations. ASC 740-10 clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements and prescribes a recognition threshold and measurement attributes for financial statement disclosure of tax positions taken or expected to be taken on a tax return. Under ASC 740-10, the impact of an uncertain income tax position on the income tax return must be recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Additionally, ASC 740-10 provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As a result of the implementation of ASC 740-10, the Company recognized no material adjustment in the liability for unrecognized income tax benefits.
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE	In accordance with FASB ASC 260, “Earnings Per Share,” the basic loss per share is computed by dividing the loss attributable to common stockholders by the weighted average number of common shares outstanding during the period. Basic net income (loss) per share excludes the dilutive effect of stock options or warrants and convertible notes Diluted net earnings (loss) per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents, consisting of shares that might be issued upon exercise of common stock options and warrants. In periods where losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. As of June 30, 2022 and 2021, 28,922,917 and 34,922,917, respectively, dilutive shares were excluded from the calculation of diluted earnings (loss) per common share, as the effect of these shares on earnings per share would have been anti-dilutive; however, dilutive shares were included from the calculation of diluted income common shares for the six months ended June 30, 2022. The following table shows the computation of basic and diluted earnings (loss) per share for the three months ended June 30, 2022 and 2021: Three Months Ended June 30 , 2022 June 30 , 2021 Numerator: Net income (loss) $ (1,616,000 ) $ (2,583,000 ) Denominator: Weighted-average basic shares outstanding 559,281,064 559,281,064 Effect of dilutive securities - - Weighted-average diluted shares 559,281,064 559,281,064 Basic earnings (loss) per share $ (0.00 ) $ (0.00 ) Diluted earnings (loss) per share $ (0.00 ) $ (0.00 ) The following table shows the computation of basic and diluted earnings (loss) per share for the six months ended June 30, 2022 and 2021: Six Months Ended June 30 , 2022 June 30 , 2021 Numerator: Net income (loss) $ (2,263,000 ) $ (2,449,000 ) Denominator: Weighted-average basic shares outstanding 559,281,064 559,281,064 Effect of dilutive securities - - Weighted-average diluted shares 559,281,064 559,281,064 Basic earnings (loss) per share $ (0.00 ) $ (0.00 ) Diluted earnings (loss) per share $ (0.00 ) $ (0.00 )
STOCK BASED COMPENSATION	The Company accounts for stock-based compensation based on the fair value of all option grants or stock issuances made to employees or directors on or after its implementation date (the beginning of fiscal 2006), as well as a portion of the fair value of each option and stock grant made to employees or directors prior to the implementation date that represents the unvested portion of these share-based awards as of such implementation date, to be recognized as an expense, as codified in ASC 718. The Company calculates stock option-based compensation by estimating the fair value of each option as of its date of grant using the Black-Scholes option pricing model. These amounts are expensed over the respective vesting periods of each award using the straight-line attribution method. Compensation expense is recognized only for those awards that are expected to vest, and as such, amounts have been reduced by estimated forfeitures. The Company has historically issued stock options and vested and non-vested stock grants to employees and outside directors whose only condition for vesting has been continued employment or service during the related vesting or restriction period. The estimated fair value of grants of stock options and warrants to nonemployees of the Company is charged to expense, if applicable, in the financial statements. The Company accounts for equity instruments issued in exchange for the receipt of goods or services from other than employees in accordance with FASB ASC 505-50. Costs are measured at the estimated fair market value of the consideration received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of equity instruments issued for consideration other than employee services is determined on the earliest of a performance commitment or completion of performance by the provider of goods or services as defined by FASB ASC 505-50. In June 2018, FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718) Improvements to Nonemployee Share Based Payment Accounting. The Company adopted with an effective date of January 1, 2019. Upon adoption, there was no material impact to the financial statements.
RECENT ACCOUNTING PRONOUNCEMENTS	In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which address issues identified as a result of the complexity associated with applying generally accepted accounting principles for certain financial instruments with characteristics of liabilities and equity. This amendment is effective for public business entities that meet the definition of a Securities and Exchange Commission (SEC) filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company does not expect the adoption of recently issued accounting pronouncements to have a potential impact on the Company’s results of operations, financial position or cash flow. The Company has evaluated all recent accounting pronouncements and none are expected to have a material impact on the condensed consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS (Tables)	6 Months Ended
	Jun. 30, 2022
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS
Schedule of fair value measurement of assets and liabilities	Total fair value at June 30, 2022 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 960,000 $ 960,000 $ - $ - Total fair value at December 31, 2021 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 2,901,000 $ 2,901,000 $ - $ -
Schedule of basic and diluted earnings (loss) per share	Three Months Ended June 30 , 2022 June 30 , 2021 Numerator: Net income (loss) $ (1,616,000 ) $ (2,583,000 ) Denominator: Weighted-average basic shares outstanding 559,281,064 559,281,064 Effect of dilutive securities - - Weighted-average diluted shares 559,281,064 559,281,064 Basic earnings (loss) per share $ (0.00 ) $ (0.00 ) Diluted earnings (loss) per share $ (0.00 ) $ (0.00 ) Six Months Ended June 30 , 2022 June 30 , 2021 Numerator: Net income (loss) $ (2,263,000 ) $ (2,449,000 ) Denominator: Weighted-average basic shares outstanding 559,281,064 559,281,064 Effect of dilutive securities - - Weighted-average diluted shares 559,281,064 559,281,064 Basic earnings (loss) per share $ (0.00 ) $ (0.00 ) Diluted earnings (loss) per share $ (0.00 ) $ (0.00 )

INVESTMENT IN IMAGION BIOSYST_2

INVESTMENT IN IMAGION BIOSYSTEMS (Tables)	6 Months Ended
	Jun. 30, 2022
INVESTMENT IN IMAGION BIOSYSTEMS
Schedule of changes to the investment in Imagion	Balance as of December 31, 2021 $ 2,901,000 Change due to the sale of securities (28,000 ) Change in the unrealized fair value of securities (1,913,000 ) Balance as of June 30, 2022 $ 960,000

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2022
NOTES PAYABLE (Tables)
Schedule of debt discount	Notes payable $ 150,000 Less: Discounts on notes payable (7,000 ) Notes payable, net of discounts $ 143,000

CAPITAL TRANSACTIONS (Tables)

CAPITAL TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2022
CAPITAL TRANSACTIONS
Summary of Company's stock option activity	Number of Options Weighted Average Exercise Price Weighted Average Remaining Life Number of Options Exercisable Aggregate Intrinsic Value Outstanding as of December 31, 2021 26,500,000 $ 0.04 6.06 26,500,000 $ 15,000 Granted - - - - - Exercised - - - - - Expired - - - - - Outstanding as of June 30, 2022 26,500,000 $ 0.04 5.87 26,500,000 $ 0
Exercise prices and weighted-average contractual lives of stock options outstanding	Options Outstanding Options Exercisable Exercise Price Number Outstanding Weighted Average Remaining Contractual Life Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price $ 0.05 3,000,000 3.00 $ 0.05 3,000,000 $ 0.05 $ 0.06 5,000,000 3.1 $ 0.06 5,000,000 $ 0.06 $ 0.14 3,000,000 2.00 $ 0.14 3,000,000 $ 0.14 $ 0.02 15,500,000 8.06 $ 0.02 15,500,000 $ 0.02

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
BASIS OF PRESENTATION (Details Narrative)
Accumulated deficit	$ (70,783,000)	$ (68,520,000)
Working capital deficit	$ (1,134,000)

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Investment in equity securities	$ 960,000	$ 2,901,000
Quoted prices in active markets for identical assets [Member] | Level 1 [Member]
Investment in equity securities	960,000	2,901,000
Significant other observable inputs [Member] | Level 2 [Member]
Investment in equity securities	0	0
Significant unobservable inputs [Member] | Level 3 [Member]
Investment in equity securities	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net income (loss)	$ (1,616,000)	$ (2,583,000)	$ (2,263,000)	$ (2,449,000)
Denominator:
Weighted-average basic shares outstanding	559,281,064	559,281,064	559,281,064	559,281,064
Weighted-average diluted shares	559,281,064	559,281,064	559,281,064	559,281,064
Basic earnings (loss) per share	$ 0	$ 0	$ 0	$ 0
Diluted earnings (loss) per share	$ 0	$ 0	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2018
Common stock owned shares	51,766,508
Proceeds from sale of assets held for sale	$ 300,000	$ 300,000	$ 300,000	$ 300,000
Remaining amount of assets				900,000
Cash FDIC insured amount	250,000		250,000
Cash exceeding insured amount	$ 102,000		$ 0
Adjusted asset valuation					$ 1,200,000
Sale of asset				$ 1,200,000
Income Tax Examination, Likelihood of Unfavorable Settlement	An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained.
Weighted average number diluted shares	28,922,917	34,922,917
Minimum [Member]
Property and equipment useful lives	3 years
Maximum [Member]
Property and equipment useful lives	10 years
In 2009 [Member] | Patent license agreement [Member] | Los Alamos National Security LLC [Member]
Licenses purchased price	$ 33,000
Amortization period	10 years
Fair value of common stock issued	$ 2,000,000
Annual license fee	$ 10,000

INVESTMENT IN EQUITY SECURITIES

INVESTMENT IN EQUITY SECURITIES (IMAGION BIOSYSTEMS) (Details)	6 Months Ended
	Jun. 30, 2022 USD ($)
INVESTMENT IN IMAGION BIOSYSTEMS
Balance as of December 31, 2021	$ 2,901,000
Change in the unrealized fair value of securities	(1,913,000)
Change due to the sale of securities	(28,000)
Balance as of June 30, 2022	$ 960,000

INVESTMENT IN IMAGION BIOSYST_3

INVESTMENT IN IMAGION BIOSYSTEMS (Details Narrative) - Imagion Biosystems, Inc. [Member]	Jun. 30, 2022 USD ($) $ / shares shares
Common stock owned shares	51,766,508
Trading price per share | $ / shares	$ 0.02
Fair value of investment | $	$ 960,000
Change in unrealized gain in investment	1,913,000

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
NOTES PAYABLE
Notes payable	$ 150,000
Less: Discounts on notes payable	(7,000)
Notes payable, net of discounts	$ 143,000	$ 130,000

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Oct. 17, 2019	Jun. 30, 2022	Jun. 30, 2021
Amortization of Debt Discount	$ 7,000	$ 13,000	$ 13,000
Individuals [Member]
Secured note	$ 50,000
Price per share	$ 0.015
Interest rate	10%
Debt due date	October 17, 2022

CAPITAL TRANSACTIONS (Details)

CAPITAL TRANSACTIONS (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
CAPITAL TRANSACTIONS
Number of Options, Outstanding Beginning Balance	26,500,000	26,500,000
Number of Options, Granted		0
Weighted Average Life
Weighted Average Life, Outstanding Ending Balance	5 years 10 months 13 days	6 years 21 days
Weighted Average Exercise Price
Weighted Average Exercise Price, beginning	$ 0.04
Weighted Average Exercise Price, Granted	0
Weighted Average Exercise Price, Expired	0
Weighted Average Exercise Price, ending	$ 0.04
Aggregate intrinsic value
Aggregate intrinsic value, beginning	$ 15,000
Aggregate intrinsic value, granted	0
Aggregate intrinsic value, Expired	0
Aggregate intrinsic value, Exercised	$ 0

CAPITAL TRANSACTIONS (Details 1

CAPITAL TRANSACTIONS (Details 1) - $ / shares	6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Options, Outstanding Beginning Balance	26,500,000	26,500,000	26,500,000	26,500,000
Exercise Price 0.05 [Member]
Number of Options, Outstanding Beginning Balance	3,000,000
Weighted Average Remaining Contractual Life	3 years
Weighted Average Exercise Price	$ 0.05
Number of Options Exercisable, Outstanding Beginning Balance	3,000,000
Weighted Average Exercise Price, exercisable	$ 0.05
Exercise Price 0.06 [Member]
Number of Options, Outstanding Beginning Balance	5,000,000
Weighted Average Remaining Contractual Life	3 years 1 month 6 days
Weighted Average Exercise Price	$ 0.06
Number of Options Exercisable, Outstanding Beginning Balance	5,000,000
Weighted Average Exercise Price, exercisable	$ 0.06
Exercise Price 0.14 [Member]
Number of Options, Outstanding Beginning Balance	3,000,000
Weighted Average Remaining Contractual Life	2 years
Weighted Average Exercise Price	$ 0.14
Number of Options Exercisable, Outstanding Beginning Balance	3,000,000
Weighted Average Exercise Price, exercisable	$ 0.14
Exercise Price 0.02 [Member]
Number of Options, Outstanding Beginning Balance	15,500,000
Weighted Average Remaining Contractual Life	8 years 21 days
Weighted Average Exercise Price	$ 0.02
Number of Options Exercisable, Outstanding Beginning Balance	15,500,000
Weighted Average Exercise Price, exercisable	$ 0.02

CAPITAL TRANSACTIONS (Details N

CAPITAL TRANSACTIONS (Details Narrative) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Number of Options, Outstanding Beginning Balance	26,500,000	26,500,000	26,500,000	26,500,000
Aggregate intrinsic value		$ 0	$ 15,000
Stock Option [Member]
Number of Options, Outstanding Beginning Balance	26,500,000
Aggregate intrinsic value	$ 0

LICENSE AGREEMENT (Details Narr

LICENSE AGREEMENT (Details Narrative)	6 Months Ended
	Jun. 30, 2022 USD ($)
LICENSE AGREEMENT
Minimum Royalty Payment	$ 41,000
Royalty percentage on dental products	10%
Royalty percentage on other licensed products	5%

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Accrued expenses - related parties	$ 1,273,000	$ 1,129,000
Sole Officer [Member]
Accrued expenses - related parties	309,000
Chairman [Member]
Accrued expenses - related parties	891,000
Board of Director [Member]
Accrued expenses - related parties	$ 73,000