Manhattan Scientifics (MHTX) 10-Q 21 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 18, 2023
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, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
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 State Or Province	NY
Entity Address Postal Zip Code	10001
City Area Code	212
Local Phone Number	541-2405
Security 12g Title	Common Stock, $0.001 par value
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 52,000	$ 175,000
Prepaid expenses	9,000	14,000
Total current assets	61,000	189,000
Investment in equity securities	506,000	839,000
Property and equipment, net	0	1,000
Other assets	2,000	2,000
Total assets	569,000	1,031,000
Current liabilities:
Accounts payable and accrued expenses	125,000	119,000
Accrued expenses - related parties	1,650,000	1,439,000
Deferred revenue	10,000	0
Notes payable, net of discounts	70,000	110,000
Total current liabilities	1,855,000	1,668,000
Total liabilities	1,855,000	1,668,000
Commitments and Contingencies - Note 7	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
Capital stock $0.001 par value
Common, authorized 950,000,000 shares, 559,281,064 shares issued, and outstanding, respectively	559,000	559,000
Additional paid-in-capital	68,996,000	68,996,000
Accumulated deficit	(71,899,000)	(71,250,000)
Total stockholders' equity (deficit)	(2,344,000)	(1,695,000)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY (DEFICIT)	569,000	1,031,000
Class A Convertible Preferred Stock [Member]
Capital stock $0.001 par value
Preferred Stock Value	0	0
Series B convertible preferred Stock [Member]
Capital stock $0.001 par value
Preferred Stock Value	0	0
Class C Redeemable Convertible Preferred Stock [Member]
Capital stock $0.001 par value
Preferred Stock Value	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Capital stock, shares par value	$ 0.001	$ 0.001
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
Preferred stock, shares authorized	1,000,000
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 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
Class D Convertible Mandatory Redeemable Preferred 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
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

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
Revenue	$ 0	$ 41,000	$ 0	$ 41,000
Operating expenses:
General and administrative	181,000	193,000	367,000	373,000
Research and development	5,000	2,000	5,000	5,000
Total operating expenses	186,000	195,000	372,000	378,000
Loss from operations	(186,000)	(154,000)	(372,000)	(337,000)
Other income (expense):
Gain (Loss) on fair value adjustment of investments	(43,000)	(1,456,000)	(292,000)	(1,913,000)
Gain on settlement of debt	0	0	15,000	0
Interest expense	0	(6,000)	0	(13,000)
Total other income (expense)	(43,000)	(1,462,000)	(277,000)	(1,926,000)
NET LOSS	$ (229,000)	$ (1,616,000)	$ (649,000)	$ (2,263,000)
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 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, amount at Dec. 31, 2021	$ 1,035,000	$ 0	$ 559,000	$ 68,996,000	$ (68,520,000)
Balance, shares at Dec. 31, 2021		49,999	559,281,064
Net Income (Loss)	(647,000)				(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, amount at Dec. 31, 2021	1,035,000	$ 0	$ 559,000	68,996,000	(68,520,000)
Balance, shares at Dec. 31, 2021		49,999	559,281,064
Net Income (Loss)	(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, amount at Mar. 31, 2022	388,000	$ 0	$ 559,000	68,996,000	(69,167,000)
Balance, shares at Mar. 31, 2022		49,999	559,281,064
Net Income (Loss)	(1,616,000)				(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)
Balance, amount at Dec. 31, 2022	(1,695,000)	$ 0	$ 559,000	68,996,000	(71,250,000)
Balance, shares at Dec. 31, 2022		49,999	559,281,064
Net Income (Loss)	(420,000)				(420,000)
Balance, shares at Mar. 31, 2023		49,999	559,281,064
Balance, amount at Mar. 31, 2023	(2,115,000)	$ 0	$ 559,000	68,996,000	(71,670,000)
Balance, amount at Dec. 31, 2022	(1,695,000)	$ 0	$ 559,000	68,996,000	(71,250,000)
Balance, shares at Dec. 31, 2022		49,999	559,281,064
Net Income (Loss)	(649,000)
Balance, shares at Jun. 30, 2023		49,999	559,281,064
Balance, amount at Jun. 30, 2023	(2,344,000)	$ 0	$ 559,000	68,996,000	(71,899,000)
Balance, amount at Mar. 31, 2023	(2,115,000)	$ 0	$ 559,000	68,996,000	(71,670,000)
Balance, shares at Mar. 31, 2023		49,999	559,281,064
Net Income (Loss)	(229,000)				(229,000)
Balance, shares at Jun. 30, 2023		49,999	559,281,064
Balance, amount at Jun. 30, 2023	$ (2,344,000)	$ 0	$ 559,000	$ 68,996,000	$ (71,899,000)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (649,000)	$ (2,263,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	1,000	2,000
Loss on fair value adjustment of investments	292,000	1,913,000
Amortization of debt discount	0	13,000
Gain on settlement of debt	(15,000)	0
Changes in:
Prepaid expenses	5,000	1,000
Accounts payable and accrued expenses	6,000	16,000
Accounts payable and accrued expenses - related party	211,000	144,000
Deferred revenue	10,000	0
Net cash used in operating activities	(139,000)	(174,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of assets held for sale	0	300,000
Proceeds from sale of investments	26,000	28,000
Net cash from investing activities	26,000	328,000
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments for note payable	(10,000)	0
Net cash used in financing activities	(10,000)	0
NET INCREASE IN CASH	(123,000)	154,000
CASH, BEGINNING OF PERIOD	175,000	232,000
CASH, END OF PERIOD	52,000	386,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	0	0
Income taxes paid	0	0
SUPPLEMENTAL DISCLOSURES OF NONCASH INVESTING AND FINANCING ACTIVITIES:
Investment in equity shares transferred to pay note down	$ 30,000	$ 0

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2023
BASIS OF PRESENTATION
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, 2022, filed on April 13, 2023. 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 three months period ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The condensed consolidated balance sheet at December 31, 2022 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS	6 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS	NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS BASIS OF CONSOLIDATION: The consolidated financial statements include the accounts of Manhattan Scientific, Inc., and its wholly owned subsidiary Metallicum. All significant intercompany balances and transactions have been eliminated. GOING CONCERN: As of June 30, 2023, the Company has an accumulated deficit of $71,899,000 and negative working capital of $1,794,000. 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. These factors raise substantial doubt about the Company’s ability to continue as going concern 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. 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 year 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, 2023, we had cash balances of $-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. 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 six months ended June 30, 2023, 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. No revenue was recorded during the six months ended June 30, 2023. FAIR VALUE MEASUREMENTS: 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 and cash equivalents (consisting of money market funds), short-term 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. Fair value of financial instruments: The carrying amounts of financial instruments, including prepaid expenses, accounts payable, accrued expenses and notes payables approximated fair value as of June 30, 2023 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, 2023, the Company holds 47,466,508 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 on fair value adjustment of investments. Our financial assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2023, consisted of the following: Total fair value at June 30, 2023 Quoted prices in active markets for identical assets (Level1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 506,000 $ 506,000 $ - $ - Our financial assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2022, consisted of the following: Total fair value at December 31, 2022 Quoted prices in active markets for identical assets (Level1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 839,000 $ 839,000 $ - $ - INTELLECTUAL PROPERTY / RESEARCH AND DEVELOPMENT In June 2008, we acquired Metallicum and its licensed rights to patented technology. The technology is comprised of three US Patents (US Patent numbers 7152448, 6197129 and 6399215) for which Metallicum (subsequently, Manhattan) had been assigned exclusive license rights by Los Alamos National Security LLC (LANL). Under the license rights, Metallicum had all rights, title and interest throughout the world in and to any and all inventions, original works of authorship, developments, concepts, know-how, and improvements on the patents or trade secrets whether or not patentable or registerable under copyright or similar laws. The purchase price paid for these licenses was $305,000, which represents 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. Our ability to compete depends in part on the protection of and our ability to defend our proprietary technology and on the goodwill associated with our trade names, service marks and other proprietary rights. However, we do not know if current laws will provide us with sufficient enough protection that others will not develop technologies similar or superior to ours, or that third parties will not copy or otherwise obtain or use our technologies without our authorization. The success of our business will depend, in part, to identify technology, obtain patents, protect and enforce patents once issued and operate without infringing on the proprietary rights of others. Our success will also depend on our ability to maintain exclusive rights to trade secrets and proprietary technology we own are currently developing and will develop. We can give no assurance that any issued patents will provide us with competitive advantages or will not be challenged by others, or that the patents of others will not restrict our ability to conduct business. In addition, we rely on certain technology licensed with a perpetual term from the Los Alamos National Laboratory and may be required to license additional technologies in the future. We do not know if these third-party licenses will be available or will continue to be available to us on acceptable commercial terms or at all. The inability to enter into and maintain any of these licenses could have a material adverse effect on our business, financial condition or results of our operations. Policing unauthorized use of our proprietary technology and other intellectual property rights could entail significant expense. In addition, we do not know if third parties will bring claims of copyright or trademark infringement against us or claim that our use of certain technologies violates a patent or other intellectual property. Any claims of infringement, with or without merit, could be time consuming and expensive to defend, result in costly litigation, divert management attention, require us to enter into costly royalty or licensing arrangements or prevent us from using important technologies or methods, any of which could have a material adverse effect on our business, financial condition or results of our operations. 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, 2023 and 2022, 28,922,917 and 25,655,760, 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. The following table shows the computation of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 June 30, 2022 Numerator: Net loss $ (229,000 ) $ (1,616,000 ) 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, 2023 June 30, 2022 Numerator: Net loss $ (649,000 ) $ (2,263,000 ) 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. RECENT ACCOUNTING PRONOUNCEMENTS 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, 2023
INVESTMENT IN IMAGION BIOSYSTEMS
INVESTMENT IN IMAGION BIOSYSTEMS	NOTE 3 – INVESTMENT IN IMAGION BIOSYSTEMS As of June 30, 2023, the Company owns 47,466,508 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, 2023, approximately $0.01 per share, the fair value of the Imagion shares was approximately $506,000. During the six months ended June 30, 2023, the Company recorded loss on fair value adjustment on its investment of $292,000. Below is reconciliation for the changes to the investment in Imagion for the six months ended June 30, 2023: Balance as of December 31, 2022 $ 839,000 Change in the unrealized fair value of securities (292,000 ) Sale of securities (26,000 ) Transfer of securities (15,000 ) Balance as of June 30, 2023 $ 506,000

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2023
NOTES PAYABLE
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE On October 17, 2019, The Company executed two secured notes with a related party for a total of $100,000. The secured notes were due on October 17, 2022. 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 2 million shares of IBX common stock. The debt discount was fully amortized in prior years. In January 2023, the Company signed an agreement with the noteholder to pay one million IBX shares with a strike price of $0.03 per share USD or $30,000, the transfer was made on January 26, 2023. The value of the shares transferred was approximately $15,000. The Company recognized a gain on settlement of debt of $15,000. Additionally, the Company paid $10,000 in cash on March 22, 2023. The remaining balance of the note is $20,000 . On October 17, 2019, the Company executed a secured note with an individual for $50,000. The secured note was 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 debt discount was fully amortized in prior years.

CAPITAL TRANSACTIONS

CAPITAL TRANSACTIONS	6 Months Ended
	Jun. 30, 2023
CAPITAL TRANSACTIONS
CAPITAL TRANSACTIONS	NOTE 5 – CAPTIAL TRANSACTIONS Preferred Stock The Company has a total of 1,000,000 shares of authorized preferred shares which are segregated into four classes of preferred stock. The Company has 182,525 authorized shares of convertible, redeemable, 10 percent cumulative, Class A, Preferred Stock with $0.001 par value. One Class A, Preferred share is convertible into 50 restricted common shares and will be entitled to the number of votes equal to the number of shares of common stock into which such holder’s shares of Series A Preferred stock could be converted at the time of the vote. Class A, Preferred Stock is redeemable by the Company at $15 per share. Upon liquidation the holders of Series A Preferred stock will be entitled to be paid out of the assets available for distribution of the corporation an amount equal to $10 per share, before any payment will be made to the common shareholders. As of June 30, 2023, no shares of Preferred Stock were issued and outstanding. The Company has 250,000 authorized shares of Class B, Preferred Stock with $0.001 par value. As of June 30, 2023, 49,999 shares of Preferred Stock were issued and outstanding, respectively. Class B preferred shares are convertible at a rate of 1 Series B preferred share to 10 common shares. The Company has 14,000 authorized shares of redeemable, convertible, Class C, Preferred Stock with $100 stated value. Class C, Preferred Stock is not entitled to receive dividends unless dividends are paid on common stock. Upon liquidation Class C, Preferred Stock shall be treated as if it were converted to common stock prior to liquidation. Class C, Preferred Stock is convertible at $100 divided by the 10 day average closing price of common stock. The Class C, Preferred Stock is redeemable by the Company at the stated value. As of June 30, 2023, no shares of Preferred Stock were issued and outstanding. The Series D Preferred Stock does not pay dividends and does not have a liquidation preference. The Holder of the Series D Preferred Stock will be entitled to 20 votes for each share of common stock that the Series D Preferred Stock are convertible into. The Series D Preferred Stock has a conversion price of $0.055 (the “Conversion Price”) and a stated value of $10.00 (the “Stated Value”) per share. Each share of Series D Preferred Stock is convertible, at the option of the Holder, into such number of shares of common stock of the Company as determined by dividing Stated Value by the Conversion Price. Holder may only convert the Series D Preferred Stock upon certain Convertible Promissory Notes, whether presently outstanding or to be issued, issued to three accredited investors (the "Note Investors") in accordance with those certain Convertible Note Purchase Agreements between the Company and the Note Investors dated April 3, 2013, have either (i) been converted in full or in part by the Note Investors into shares of common stock of the Company, (ii) the Note Investors have sold or assigned all or a part of their Convertible Promissory Notes to third parties, or (iii) the Note Investors have been paid in full or in part. The Holder will only be permitted to convert such number of Series D Preferred Stock equal to the pro rata amount of the Convertible Promissory Notes converted, assigned or paid. In the event the Note Investors agree in writing that these restrictions may be terminated, then the Holder will be entitled to convert the Series D Preferred Stock at the Holder’s election and the above restrictions will be null and void. Additionally, Holder may not convert the Series D Preferred Stock until the ten day average daily trading volume is greater than $20,000. As of the date of this filing, this has not occurred yet. In the event the Holder terminates its consulting agreement or violates a non-compete covenant, then the Series D Preferred Shares shall be returned to the Company for cancellation and the Company shall be obligated on the Debt. As the Series D Preferred Stock is conditionally redeemable, the Company has recorded the Series D Preferred Stock as mezzanine equity in the accompanying consolidated balance sheet. The Company has 447,804 undesignated blank check preferred stock, $0.001 par value, authorized as of June 30, 2023. The preferred shares are to be issued in such series and to have such rights, preferences, and designation as determine by the Board of Directors of the Company. Common Stock The Company has a total of 950,000,000 shares of authorized common shares. As of June 30, 2023, 559,281,064 shares of common stock were issued and outstanding.

LICENSE AGREEMENT

LICENSE AGREEMENT	6 Months Ended
	Jun. 30, 2023
LICENSE AGREEMENT
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 an average of 5% on all other sales of licensed products. As of June 30, 2023, the Company has $10,000 in deferred revenue related to this license agreement.

COMMITMENTS AND CONTIGENCIES

COMMITMENTS AND CONTIGENCIES	6 Months Ended
	Jun. 30, 2023
COMMITMENTS AND CONTIGENCIES
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, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE 8 – RELATED PARTY TRANSACTIONS As of June 30, 2023, the Company had accrued expenses to related parties of approximately $1,650,000. As of June 30, 2023, the amounts are due to the Company’s sole officer for compensation $430,000 and the chairman of the board for compensation of $1,131,000 and the members of the board of directors of $89,000. During the six months ended June 30, 2023, the Company settled a portion of debt with a related party. See Note 4.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS (Policies)	6 Months Ended
	Jun. 30, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS
BASIS OF CONSOLIDATION	The consolidated financial statements include the accounts of Manhattan Scientific, Inc., and its wholly owned subsidiary Metallicum. All significant intercompany balances and transactions have been eliminated.
GOING CONCERN	As of June 30, 2023, the Company has an accumulated deficit of $71,899,000 and negative working capital of $1,794,000. 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. These factors raise substantial doubt about the Company’s ability to continue as going concern 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.
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 year 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, 2023, we had cash balances of $-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.
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 six months ended June 30, 2023, 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. No revenue was recorded during the six months ended June 30, 2023.
FAIR VALUE MEASUREMENTS	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 and cash equivalents (consisting of money market funds), short-term 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. Fair value of financial instruments: The carrying amounts of financial instruments, including prepaid expenses, accounts payable, accrued expenses and notes payables approximated fair value as of June 30, 2023 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, 2023, the Company holds 47,466,508 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 on fair value adjustment of investments. Our financial assets and liabilities carried at fair value measured on a recurring basis as of June 30, 2023, consisted of the following: Total fair value at June 30, 2023 Quoted prices in active markets for identical assets (Level1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 506,000 $ 506,000 $ - $ - Our financial assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2022, consisted of the following: Total fair value at December 31, 2022 Quoted prices in active markets for identical assets (Level1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 839,000 $ 839,000 $ - $ -
INTELLECTUAL PROPERTY / RESEARCH AND DEVELOPMENT	In June 2008, we acquired Metallicum and its licensed rights to patented technology. The technology is comprised of three US Patents (US Patent numbers 7152448, 6197129 and 6399215) for which Metallicum (subsequently, Manhattan) had been assigned exclusive license rights by Los Alamos National Security LLC (LANL). Under the license rights, Metallicum had all rights, title and interest throughout the world in and to any and all inventions, original works of authorship, developments, concepts, know-how, and improvements on the patents or trade secrets whether or not patentable or registerable under copyright or similar laws. The purchase price paid for these licenses was $305,000, which represents 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. Our ability to compete depends in part on the protection of and our ability to defend our proprietary technology and on the goodwill associated with our trade names, service marks and other proprietary rights. However, we do not know if current laws will provide us with sufficient enough protection that others will not develop technologies similar or superior to ours, or that third parties will not copy or otherwise obtain or use our technologies without our authorization. The success of our business will depend, in part, to identify technology, obtain patents, protect and enforce patents once issued and operate without infringing on the proprietary rights of others. Our success will also depend on our ability to maintain exclusive rights to trade secrets and proprietary technology we own are currently developing and will develop. We can give no assurance that any issued patents will provide us with competitive advantages or will not be challenged by others, or that the patents of others will not restrict our ability to conduct business. In addition, we rely on certain technology licensed with a perpetual term from the Los Alamos National Laboratory and may be required to license additional technologies in the future. We do not know if these third-party licenses will be available or will continue to be available to us on acceptable commercial terms or at all. The inability to enter into and maintain any of these licenses could have a material adverse effect on our business, financial condition or results of our operations. Policing unauthorized use of our proprietary technology and other intellectual property rights could entail significant expense. In addition, we do not know if third parties will bring claims of copyright or trademark infringement against us or claim that our use of certain technologies violates a patent or other intellectual property. Any claims of infringement, with or without merit, could be time consuming and expensive to defend, result in costly litigation, divert management attention, require us to enter into costly royalty or licensing arrangements or prevent us from using important technologies or methods, any of which could have a material adverse effect on our business, financial condition or results of our operations.
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, 2023 and 2022, 28,922,917 and 25,655,760, 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. The following table shows the computation of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 June 30, 2022 Numerator: Net loss $ (229,000 ) $ (1,616,000 ) 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, 2023 June 30, 2022 Numerator: Net loss $ (649,000 ) $ (2,263,000 ) 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.
RECENT ACCOUNTING PRONOUNCEMENTS	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, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS
Schedule of fair value measurement of assets and liabilities	Total fair value at June 30, 2023 Quoted prices in active markets for identical assets (Level1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 506,000 $ 506,000 $ - $ - Total fair value at December 31, 2022 Quoted prices in active markets for identical assets (Level1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Investment in equity securities $ 839,000 $ 839,000 $ - $ -
Schedule of basic and diluted earnings (loss) per share	Three Months Ended June 30, 2023 June 30, 2022 Numerator: Net loss $ (229,000 ) $ (1,616,000 ) 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, 2023 June 30, 2022 Numerator: Net loss $ (649,000 ) $ (2,263,000 ) 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, 2023
INVESTMENT IN IMAGION BIOSYSTEMS
Schedule of changes to the investment in Imagion	Balance as of December 31, 2022 $ 839,000 Change in the unrealized fair value of securities (292,000 ) Sale of securities (26,000 ) Transfer of securities (15,000 ) Balance as of June 30, 2023 $ 506,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RELATED MATTERS (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Investment in equity securities	$ 506,000	$ 839,000
Significant other observable inputs [Member] | Level 2 [Member]
Investment in equity securities	0	0
Significant other observable inputs [Member] | Level 1 [Member]
Investment in equity securities	506,000	839,000
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, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss	$ (229,000)	$ (420,000)	$ (1,616,000)	$ (647,000)	$ (649,000)	$ (2,263,000)
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 ($)	1 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2008	Jun. 30, 2023	Dec. 31, 2022
Common stock owned shares		47,466,508
Accumulated deficit		$ (71,899,000)	$ (71,250,000)
Working capital deficit		(1,794,000)
Cash FDIC insured amount		250,000
Cash exceeding insured amount		$ 0
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	25,655,760
Minimum [Member]
Property and equipment useful lives		3 years
Maximum [Member]
Property and equipment useful lives		10 years
In 2008 [Member] | Metallicum, Inc [Member]
Licenses estimate useful life		10 years
Licenses purchased price	$ 305,000

INVESTMENT IN IMAGION BIOSYST_3

INVESTMENT IN IMAGION BIOSYSTEMS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
INVESTMENT IN IMAGION BIOSYSTEMS
Balance begining			$ 839,000
Change in the unrealized fair value of securities	$ (43,000)	$ (1,456,000)	(292,000)	$ (1,913,000)
Sale of securities			26,000
Transfer of securities			(15,000)
Balance as endining	$ 506,000		$ 506,000

INVESTMENT IN IMAGION BIOSYST_4

INVESTMENT IN IMAGION BIOSYSTEMS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Change in the unrealized fair value of securities	$ (43,000)	$ (1,456,000)	$ (292,000)	$ (1,913,000)
Imagion Biosystems, Inc. [Member]
Common stock owned shares	47,466,508		47,466,508
Trading price per share	$ 0.01		$ 0.01
Change in the unrealized fair value of securities			$ (292,000)
Fair value of investment	$ 506,000		$ 506,000

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($) $ / shares in Units, shares in Millions	1 Months Ended
	Mar. 22, 2023	Jan. 31, 2023	Oct. 17, 2019	Jun. 30, 2023	Jan. 26, 2023
Noteholder Agreement [Member]
Strike price		$ 0.03
Share transfer					$ 30,000
Value of the shares transferred		$ 15,000
Cash paid	$ 10,000
Gain on settlement of debt		$ 15,000
Outstanding notes balance				$ 20,000
Individuals [Member]
Secured note			$ 50,000
Price per share			$ 0.015
Shares issued in advance for debt			1
Interest rate			10%
Debt due date			Oct. 17, 2022
Other Related Party [Member]
Secured note			$ 100,000
Price per share			$ 0.015
Shares issued in advance for debt			2
Interest rate			10%
Debt due date			Oct. 17, 2022

CAPITAL TRANSACTIONS (Details N

CAPITAL TRANSACTIONS (Details Narrative) - $ / shares	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Nov. 05, 2013
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
Preferred stock, shares authorized	1,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Undesignated blank check [Member]
Preferred stock, shares authorized	447,804
Preferred stock, par value	$ 0.001
Class B Preferred Stock [Member]
Preferred stock shares outstanding	49,999
Preferred stock shares issued	49,999
Preferred stock, shares authorized	250,000
Preferred stock, par value	$ 0.001
Convertible preferred stock, terms of conversion feature	Class B preferred shares are convertible at a rate of 1 Series B preferred share to 10 common shares.
Class A Preferred Stock [Member]
Preferred stock, shares authorized	182,525
Preferred stock, par value	$ 0.001
Cumulative preferred stock interest rate	10%
Convertible preferred stock, terms of conversion feature	One Class A, Preferred share is convertible into 50 restricted common shares and will be entitled to the number of votes equal to the number of shares of common stock into which such holder’s shares of Series A Preferred stock could be converted at the time of the vote.
Preferred stock redemption terms	Class A, Preferred Stock is redeemable by the Company at $15 per share.
Preferred stock liquidation preference description	Upon liquidation the holders of Series A Preferred stock will be entitled to be paid out of the assets available for distribution of the corporation an amount equal to $10 per share, before any payment will be made to the common shareholders.
Class C Preferred Stock [Member]
Preferred stock, shares authorized	14,000
Preferred stock, par value	$ 100
Convertible preferred stock, terms of conversion feature	Class C, Preferred Stock is convertible at $100 divided by the 10 day average closing price of common stock.
Preferred stock liquidation preference description	Upon liquidation Class C, Preferred Stock shall be treated as if it were converted to common stock prior to liquidation.
Class D Preferred Stock [Member] | Holder [Member] | Coversion Agreement [Member]
Preferred stock, par value			$ 10
Conversion price			$ 0.055
Voting rights, description	The Holder of the Series D Preferred Stock will be entitled to 20 votes for each share of common stock that the Series D Preferred Stock are convertible into.
Convertible preferred stock terms of conversion	Additionally, Holder may not convert the Series D Preferred Stock until the ten day average daily trading volume is greater than $20,000.

LICENSE AGREEMENT (Details Narr

LICENSE AGREEMENT (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
LICENSE AGREEMENT
Deferred revenue	$ 10,000	$ 0
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, 2023	Dec. 31, 2022
Accrued expenses - related parties	$ 1,650,000	$ 1,439,000
Sole Officer [Member]
Accrued expenses - related parties	430,000
Chairman [Member]
Accrued expenses - related parties	1,131,000
Board of Director [Member]
Accrued expenses - related parties	$ 89,000