Sangui Biotech International (SGBI) 10-Q 7 Feb 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2022	Feb. 10, 2023
Details
Registrant CIK	0001104280
Fiscal Year End	--06-30
Registrant Name	SANGUI BIOTECH INTERNATIONAL INC
SEC Form	10-Q
Period End date	Dec. 31, 2022
Tax Identification Number (TIN)	84-1330732
Number of common stock shares outstanding		209,901,842
Filer Category	Non-accelerated Filer
Current with reporting	Yes
Interactive Data Current	Yes
Shell Company	false
Small Business	true
Emerging Growth Company	false
Document Quarterly Report	true
Entity File Number	0-21271
Entity Incorporation, State or Country Code	CO
Entity Address, Address Line One	Bleichenbrücke 9
Entity Address, Postal Zip Code	20354
Entity Address, City or Town	Hamburg
Entity Address, Country	DE
Country Region	49
City Area Code	40
Local Phone Number	46093120
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Jun. 30, 2022
CURRENT ASSETS
Cash	$ 9,315	$ 30,469
Accounts receivable, net	13,521	13,312
Prepaid expenses and other assets	4,355	11,822
Tax refunds receivable	1,359	1,979
Note receivable, related party	15,918	10,127
Total Current Assets	44,468	67,709
Property and equipment, net	1	358
Operating lease right-of-use asset	54,587	62,721
TOTAL ASSETS	99,056	130,788
LIABILITIES
Accounts payable and accrued expenses	155,680	128,385
Accrued interest - related party	82,960	72,365
Current portion of note payable	11,902	11,290
Notes payable - related party	724,055	707,696
Current portion of operating lease liability	16,168	15,883
Total Current Liabilities	990,765	935,619
Operating lease liability, net of current portion	34,412	41,228
Note payable, net of current portion	43,989	48,898
Total long-term Liabilities	78,401	90,126
Total Liabilities	1,069,166	1,025,745
STOCKHOLDERS' DEFICIT
Preferred stock, no par value; 10,000,000 shares authorized, -0- shares issued and outstanding	0	0
Common stock, no par value; 250,000,000 shares authorized 209,955,598 and 209,955,598 shares issued and 209,901,842 and 209,901,842 shares outstanding respectively	33,124,956	33,124,956
Additional paid-in capital	4,513,328	4,513,328
Treasury stock, at cost	(19,387)	(19,387)
Accumulated other comprehensive income	99,852	96,600
Accumulated deficit	(38,033,682)	(37,954,625)
Total stockholders' deficit	(314,933)	(239,128)
Non-controlling interest	(655,177)	(655,829)
Total Stockholders' Deficit	(970,110)	(894,957)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 99,056	$ 130,788

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - shares	Dec. 31, 2022	Jun. 30, 2022
Details
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares, Issued	209,955,598	209,955,598
Common Stock, Shares, Outstanding	209,901,842	209,901,842

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021
REVENUES
License revenues	$ 10,627	$ 22,172	$ 51,656	$ 40,732
TOTAL REVENUES	10,627	22,172	51,656	40,732
OPERATING EXPENSES
Research and development	1,656	1,672	3,999	4,499
Professional fees	27,683	28,847	70,557	72,609
General and administrative	8,602	11,160	20,445	26,472
Depreciation and amortization	173	195	344	397
Total Operating Expenses	38,114	41,874	95,345	103,977
OPERATING LOSS	(27,487)	(19,702)	(43,689)	(63,245)
Gain on foreign exchange	(70,766)	14,253	(24,570)	34,586
Interest expense	(5,086)	(4,712)	(10,146)	(9,419)
Total other income (loss)	(75,852)	9,541	(34,716)	25,167
NET LOSS BEFORE INCOME TAXES AND NON-CONTROLLING INTEREST	(103,339)	(10,161)	(78,405)	(38,078)
Provision for income taxes	0	0	0	0
NET LOSS BEFORE NON-CONTROLLING INTEREST	(103,339)	(10,161)	(78,405)	(38,078)
Less: Net loss attributable to non-controlling interest	1,050	76	(652)	1,084
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	(102,289)	(10,085)	(79,057)	(36,994)
OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustments	(5,268)	(441)	3,252	(933)
COMPREHENSIVE LOSS	$ (108,607)	$ (10,602)	$ (75,153)	$ (39,011)
BASIC AND DILUTED LOSS PER SHARE	$ 0	$ 0	$ 0	$ 0
BASIC AND DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	209,955,598	203,355,598	209,955,598	207,771,814

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Deficit - USD ($)	Common Stock	Additional Paid-in Capital	Treasury Stock	AOCI Including Portion Attributable to Noncontrolling Interest	Noncontrolling Interest	Retained Earnings	Total
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2021	$ 33,088,176	$ 4,513,328	$ (19,387)	$ 89,670	$ (651,797)	$ (37,895,315)	$ (875,325)
Shares, Outstanding, Beginning Balance at Jun. 30, 2021	206,955,598
Currency translation adjustment	$ 0	0	0	(933)	0	0	(933)
Net income (loss)	0	0	0	0	(1,084)	(36,994)	(38,078)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2021	$ 33,100,043	4,513,328	(19,387)	88,737	(652,881)	(37,932,309)	(902,469)
Shares, Outstanding, Ending Balance at Dec. 31, 2021	207,955,598
Common stock issued for cash	$ 11,867	0	0	0	0	0	11,867
Common stock issued for cash	1,000,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2021	$ 33,100,043	4,513,328	(19,387)	89,178	(652,805)	(37,922,224)	(891,867)
Shares, Outstanding, Beginning Balance at Sep. 30, 2021	207,955,598
Currency translation adjustment	$ 0	0	0	(441)	0	0	(441)
Net income (loss)	0	0	0	0	(76)	(10,085)	(10,161)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2021	$ 33,100,043	4,513,328	(19,387)	88,737	(652,881)	(37,932,309)	(902,469)
Shares, Outstanding, Ending Balance at Dec. 31, 2021	207,955,598
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Jun. 30, 2022	$ 33,124,956	4,513,328	(19,387)	96,600	(655,829)	(37,954,625)	(894,957)
Shares, Outstanding, Beginning Balance at Jun. 30, 2022	209,955,598
Currency translation adjustment	$ 0	0	0	3,252	0	0	3,252
Net income (loss)	0	0	0	0	652	(79,057)	(78,405)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2022	$ 33,124,956	4,513,328	(19,387)	99,852	(655,177)	(38,033,682)	(970,110)
Shares, Outstanding, Ending Balance at Dec. 31, 2022	209,955,598
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Sep. 30, 2022	$ 33,124,956	4,513,328	(19,387)	105,120	(654,127)	(37,931,393)	(861,503)
Shares, Outstanding, Beginning Balance at Sep. 30, 2022	209,955,598
Currency translation adjustment	$ 0	0	0	(5,268)	0	0	(5,268)
Net income (loss)	0	0	0	0	(1,050)	(102,289)	(103,339)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Dec. 31, 2022	$ 33,124,956	$ 4,513,328	$ (19,387)	$ 99,852	$ (655,177)	$ (38,033,682)	$ (970,110)
Shares, Outstanding, Ending Balance at Dec. 31, 2022	209,955,598

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (78,405)	$ (38,078)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	344	397
Foreign currency exchange transactions	24,570	(34,586)
Amortization of right to use asset	9,053	(9,394)
Changes in operating assets and liabilities
Trade accounts receivable	93	(10,905)
Prepaid expenses and other current assets	7,471	(18,941)
Tax refunds receivable	628	2,240
Accounts payable and accrued expenses	14,788	5,878
Related party advances	(5,248)	5,840
Related party accounts payable	13,333	8,112
Operating lease liability	(7,416)	11,093
Net Cash Used in Operating Activities	(20,789)	(78,344)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party note payable	0	46,445
Proceeds from common stock issued for cash	0	11,867
Repayment of note payable	(5,373)	0
Net Cash Provided by Financing Activities	(5,373)	58,312
EFFECTS OF EXCHANGE RATES ON CASH	5,008	(1,464)
NET CHANGES IN CASH	(21,154)	(21,496)
CASH AT BEGINNING OF PERIOD	30,469	29,768
CASH AT END OF PERIOD	9,315	8,272
SUPPLEMENTAL CASH FLOW INFORMATION
Interest	1,678	0
NON - CASH INVESTING AND FINANCING ACTIVITIES
Initial Right of use operating lease assets	0	24,764
Initial Right of operating liabilities	$ 0	$ 13,931

NOTE 1 - BASIS OF PRESENTATION

NOTE 1 - BASIS OF PRESENTATION	6 Months Ended
	Dec. 31, 2022
Notes
NOTE 1 - BASIS OF PRESENTATION	NOTE 1 - BASIS OF PRESENTATION The accompanying condensed consolidated financial statements have been prepared without audit in accordance with accounting principles generally accepted in the United States of America and rules of the Securities Exchange Commission for interim financial information. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The unaudited condensed consolidated financial statements and notes should, therefore, be read in conjunction with the consolidated financial statements and notes thereto in the Company's Form 10-K for the year ended June 30, 2022. In the opinion of management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair presentation, have been included. The results of operations for the six-month period ended December 31, 2022, are not necessarily indicative of the results that may be expected for the full fiscal year ending June 30, 2023. In December 2019, COVID-19 emerged and has subsequently spread worldwide. The World Health Organization has declared COVID-19 a pandemic resulting in federal, state and local governments and private entities mandating various restrictions, including travel restrictions, restrictions on public gatherings, stay at home orders and advisories and quarantining of people who may have been exposed to the virus. At the present time, it is not clear how long this crisis will last and what extent it will take. The highest priority for the Company is the health of employees and business partners. The Company’s main product is affected by the restrictions currently in place around the world. The global restrictions drastically limit our sales activities. Therefore, the license revenue the Company anticipated is not, and for the foreseeable future, will not be received at the levels as planned. The Company is in close contact with its licensee who is responsible for all distribution. Both the Company and its licensee assume that the desired growth of sales will be resumed after the pandemic has been overcome and restrictions are lessened. Prior to the pandemic, the Company had essentially been financed through the sale of shares or by loans from related parties. These financing options are still available to the Company during the COVID-19 crisis.

NOTE 2 - SUMMARY OF SIGNIFICANT

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 31, 2022
Notes
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Nature of Business Sangui Biotech International, Inc., (Sangui or the Company) was incorporated in Colorado in 1995 and conducts business through its 90% owned subsidiary, Sangui BioTech GmbH (Sangui GmbH) and its 99.8% owned subsidiary Sangui Know-how und Patentverwertungsgesellschaft mbH & Co. KG (Sangui KG). Sangui GmbH, which is headquartered in Hamburg, Germany, is engaged in the development of artificial oxygen carriers (external applications of hemoglobin, blood substitutes and blood additives) as well as in the development, marketing and sales of cosmetics and wound management products. Sangui KG is a limited partnership that holds the license rights under the various agreements that the Company enters into from time to time. Principles of Consolidation The consolidated financial statements include the accounts of the Company, Sangui BioTech GmbH and Sangui KG. All intercompany accounts and transactions have been eliminated in consolidation. 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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the respective reporting period. As future events and their effects cannot be determined with precision, actual results could differ from those estimates. Significant estimates made by management are, among others, the realization of receivables, inventories, long-lived assets, and valuation allowance on deferred tax assets. Due to the current dependence of Sangui on the revenue from the license agreement with Mölnlycke Health Care GmbH, management places the highest priority on the sales development in this area in order to be able to recognize potential risks in good time and to take appropriate measures if necessary. These measures include regular and ad hoc discussions with the licensee about its planned business development. Foreign Currency Translation Assets and liabilities of the Company's foreign operations are translated into U.S. dollars at period-end exchange rates. Net exchange gains or losses resulting from such translation are excluded from net loss but are included in comprehensive loss and accumulated in a separate component of stockholders' equity (deficit). Income and expenses are translated at average exchange rates for the period. Exchanges rates used for the preparation of the consolidated balance sheet as of December 31, 2022, and June 30, 2022, and our unaudited consolidated statements of operations for the six-month periods ended December 31, 2022 and 2021, were calculated as follows: as of December 31, 2022 0.932250 as of December 31, 2021 0.878975 July 1, 2022 through December 31, 2022 0.986978 July 1, 2021 through December 31, 2021 0.861343 The Company accounts for the transactions denominated in foreign currencies in the Parent Company’s books as transaction gains (losses) recognized in Other Income. Going Concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has accumulated deficit of $38,033,682 as of December 31, 2022. The Company incurred a net loss before non-controlling interest of $78,405 for the six-months ended December 31, 2022 and used cash in operating activities of $20,789 during the same six-months ended December 31, 2022. These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from issuance of the financial statements. The Company expects to continue to incur significant capital expenses in pursuing its business plan to market its products and expand its product line, while obtaining additional financing through stock offerings or other feasible financing alternatives. In order for the Company to continue its operations at its existing levels, the Company will require significant additional funds over the next twelve months. Therefore, the Company is dependent on funds raised through equity or debt offerings. Additional financing may not be available on terms favorable to the Company, or at all. If these funds are not available, the Company may not be able to execute its business plan or take advantage of business opportunities. The ability of the Company to obtain such additional financing and to achieve its operating goals is uncertain. In the event that the Company does not obtain additional capital, is not able to collect its outstanding receivables, or is not able to increase cash flow through the increase of sales, there is a substantial doubt of its being able to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Cash and Cash Equivalents The Company maintains its cash in bank accounts in Germany. Cash and cash equivalents include time deposits for which the Company has no requirements for compensating balances. The Company has not experienced any losses in its uninsured bank accounts. Research and Development Research and development costs are charged to operations as they are incurred. Legal fees and other direct costs incurred in obtaining and protecting patents are expensed as incurred. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue based on the five criteria for revenue recognition established under Topic 606: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price among the performance obligations, and 5) recognize revenue as the performance obligations are satisfied. Type of Revenue The Company derives revenue primarily from licensing fees on sales of its wound spray product. The Company recognizes revenue based on the five criteria for revenue recognition established under Topic ASC 606 set forth below. The Company’s licenses provide a right to use and create performance obligations satisfied at a point in time. The Company recognizes revenue from the license when the performance obligation is satisfied through the transfer of the license. The Company will recognize royalty revenue a) when the licensee makes the subsequent sales or use that trigger the royalty, or (b) the performance obligation to which Trade Accounts Receivable Accounts receivable are reflected at estimated net realizable value. The Company maintains an allowance for doubtful accounts based upon a variety of factors. The Company reviews all open accounts and provides specific reserves for customer collection issues when it believes a loss is probable. The reserve estimate includes consideration of such factors as the length of time receivables are past due, the financial condition of the customer, and historical experience. The Company also records a reserve for all customers, excluding those that have been specifically reserved for, based upon evaluation of historical losses which exceeded the specific reserves the Company had established. For the six-month period ended December 31, 2022, and 2021, the Company recognized bad debt expense in the amounts of $0 and $0, respectively Basic and Diluted Earnings (Loss) Per Common Share Basic earnings (loss) per common share are computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period of computation. Diluted earnings (loss) per share give effect to all potential dilutive common shares outstanding during the period of compensation. The computation of diluted earnings (loss) per share does not assume conversion, exercise or contingent exercise of securities that would have an antidilutive effect on earnings. As of December 31, 2022, the Company had no potentially dilutive securities that would affect the loss per share if they were to be dilutive. Comprehensive Loss Total comprehensive loss represents the net change in stockholders' equity (deficit) during a period from sources other than transactions with stockholders and as such, includes net earnings (loss). For the Company, the components of other comprehensive loss are limited to the changes in the cumulative foreign currency translation adjustments, which is recorded as components of stockholders' equity (deficit). Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated financial statements.

NOTE 3 - COMMITMENTS AND CONTIN

NOTE 3 - COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 31, 2022
Notes
NOTE 3 - COMMITMENTS AND CONTINGENCIES	NOTE 3 - COMMITMENTS AND CONTINGENCIES Litigation The Company may, from time to time, be involved in various legal disputes resulting from the ordinary course of operating its business. Management is currently not able to predict the outcome of any such cases. However, management believes that the amount of ultimate liability, if any, with respect to such actions will not have a material effect on the Company's financial position or results of operations. At the time of reporting, no litigation is pending. Indemnities and Guarantees During the normal course of business, the Company has made certain indemnities and guarantees under which it may be required to make payments in relation to certain transactions. These indemnities include certain agreements with the Company's officers, under which the Company may be required to indemnify such person for liabilities arising out of their employment relationship. The duration of these indemnities and guarantees varies and, in certain cases, is indefinite. The majority of these indemnities and guarantees do not provide for any limitation of the maximum potential future payments the Company could be obligated to make. Historically, the Company has not been obligated to make significant payments for these obligations and no liabilities have been recorded for these indemnities and guarantees in the accompanying consolidated balance sheet. Leases The Company leases office facilities from an unrelated third party at 1,172 Euros per month, which amount includes 187 Euros for sales tax. The office lease contract began in January 2020 and expires June 2026. The Company also leases an automobile under an operating lease. The lease provides for a lease payment of 538 Euros per month that began June 2018 expired May of 2020. The company extended the expired contract until May 2021 and then continued on a month-to-month basis, until a new lease vehicle was available. The monthly leasing rate was 670 Euros for the period from June 2020 to May 2021. The company has signed a leasing contract for a new automobile with a term of 36 months with monthly leasing installments of 338 Euros ($363) and an initial deposit of 9,189 Euros ($9,857) in May 2021. The automobile was delivered in August 2021. The leasing contract that expired in May 2021 was continued until the new automobile was delivered. The following table reconciles future minimum operating lease payments to the discounted lease liability as of December 31, 2022: Minimum Lease Payments Under Operating Leases Office Automotive Total Year ending June 30, 2023 6,337 2,178 8,515 2024 12,788 4,357 17,145 2025 13,019 363 13,382 Thereafter 13,255 - 13,255 Total Operating Lease Obligations $ 45,399 6,898 52,297 Less: Amount representing imputed interest $ (1,603) (114) (1,717) Present Value of minimum lease payments $ 43,796 6,784 50,580 Weighted average discount rate 2% Weighted average remaining term 3.24 years License Agreement Pursuant to the contracts dated May 2, 2018, and November 11, 2018, between Sangui GmbH and Sangui KG, respectively, and a former contractor, Sangui KG grants that contractor a license fee on the license income received by Sangui for his previous services as a co-inventor. The license fee is 10% analogously to the remuneration regulation of the German Law on Employee Inventions (ArbnErfG

NOTE 4 - RELATED PARTY TRANSACT

NOTE 4 - RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 31, 2022
Notes
NOTE 4 - RELATED PARTY TRANSACTIONS	NOTE 4 – DEBT Notes Payable Related Parties As of December 31, 2022, the Company had outstanding the following loans payable due to a Company Director: Date Loan amount in EURO Loan amount converted into USD Interest rate Interest in USD Due March 06, 2015 100,000 107,267 5% 41,020 June 30, 2022 December 12, 2017 25,000 26,817 2% 2,711 on demand January 19, 2018 25,000 26,817 2% 2,655 on demand March 13, 2018 25,000 26,817 2% 2,577 on demand July 16, 2018 25,000 26,817 2% 2,394 on demand September 10, 2018 25,000 26,817 2% 2,311 on demand October 04, 2018 25,000 26,817 2% 2,276 on demand December 27, 2018 25,000 26,817 2% 2,153 on demand January 21, 2019 15,000 16,090 2% 1,270 on demand February 26, 2019 25,000 26,817 2% 2,063 on demand March 20, 2019 25,000 26,817 2% 2,031 on demand April 08, 2019 20,000 21,453 2% 1,602 on demand May 09, 2019 30,000 32,180 2% 2,349 on demand June 21, 2019 30,000 32,180 2% 2,273 on demand September 17, 2019 20,000 21,453 2% 1,412 on demand October 04, 2019 20,000 21,453 2% 1,392 on demand October 30, 2019 20,000 21,453 2% 1,361 on demand January 08, 2020 10,000 10,727 2% 639 on demand February 20, 2020 10,000 10,727 2% 614 on demand March 06, 2020 15,000 16,090 2% 908 on demand April 01, 2020 10,000 10,727 2% 590 on demand May 05, 2020 15,000 16,090 2% 855 on demand June 10, 2020 10,000 10,727 2% 549 on demand July 27, 2020 10,000 10,727 2% 521 on demand September 07, 2020 10,000 10,727 2% 497 on demand September 21, 2020 10,000 10,727 2% 488 on demand October 09, 2020 15,000 16,090 2% 717 on demand December 03, 2020 10,000 10,727 2% 446 on demand January 05, 2021 10,000 10,727 2% 426 on demand February 11, 2021 10,000 10,727 2% 404 on demand March 17, 2021 10,000 10,727 2% 384 on demand July 29, 2021 10,000 10,727 2% 306 on demand October 04, 2021 20,000 21,453 2% 533 on demand December 01, 2021 10,000 10,727 2% 232 on demand Total 675,000 724,055 82,959 On July 29, 2021, October 04, 2021, and December 01, 2021, a Company Director advanced amounts totaling 40,000 Euros ($42,907 as of December 31, 2022) to the Company. The loans are due on demand, accrue interest annually at 2% and are unsecured. As of December 31, 2022, all notes issued have total interest accrued of $82,959. Interest expense for the six-month period ended December 31, 2022, and 2021 was $8,428 and $9,418, respectively. On October 04, 2022, Company Director advanced 13,000 Euros ($12,720) to the Company. Notes Payable On March 25, 2022, the Company entered into a note for 60,000 Euros ($64,360) and accrues interest annually at 6.0%. Interest and principal will be repaid in 60 equal monthly installments of 1,160 Euros starting at the end of April 2022. The last installment is due on March 31, 2027. The loan is secured by the assignment of future receivables from the license agreement relating to the wound spray. The remaining debt as of December 31, 2022, is 52,104 Euros ($55,890). Interest expense for the six-month period ended December 31, 2022 was $1,678. On July 01, 2021, the Company received a loan of 1,733 Euros ($1,859) from a third party. The interest rate is 1.0% p.a. The capital and accrued interest are to be repaid on June 30, 2023. The loan is unsecured. As of December 31, 2022, interest of 26 Euros ($28) has been accrued. Interest expense for the six-month period ended December 31, 2022, and 2021 was $9 and $0, respectively.

NOTE 5 - STOCKHOLDERS' DEFICIT

NOTE 5 - STOCKHOLDERS' DEFICIT	6 Months Ended
	Dec. 31, 2022
Notes
NOTE 5 - STOCKHOLDERS' DEFICIT	NOTE 5 – STOCKHOLDERS’ DEFICT Preferred Stock Common Stock Treasury Stock

NOTE 6 - SUBSEQUENT EVENTS

NOTE 6 - SUBSEQUENT EVENTS	6 Months Ended
	Dec. 31, 2022
Notes
NOTE 6 - SUBSEQUENT EVENTS	NOTE 6 – SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company’s management has reviewed all material events and there are no additional material subsequent events to report.

NOTE 2 - SUMMARY OF SIGNIFICA_2

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company, Sangui BioTech GmbH and Sangui KG. All intercompany accounts and transactions have been eliminated in consolidation.

NOTE 2 - SUMMARY OF SIGNIFICA_3

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Use of Estimates (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Use of Estimates	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 reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the respective reporting period. As future events and their effects cannot be determined with precision, actual results could differ from those estimates. Significant estimates made by management are, among others, the realization of receivables, inventories, long-lived assets, and valuation allowance on deferred tax assets. Due to the current dependence of Sangui on the revenue from the license agreement with Mölnlycke Health Care GmbH, management places the highest priority on the sales development in this area in order to be able to recognize potential risks in good time and to take appropriate measures if necessary. These measures include regular and ad hoc discussions with the licensee about its planned business development.

NOTE 2 - SUMMARY OF SIGNIFICA_4

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Foreign Currency Translation (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of the Company's foreign operations are translated into U.S. dollars at period-end exchange rates. Net exchange gains or losses resulting from such translation are excluded from net loss but are included in comprehensive loss and accumulated in a separate component of stockholders' equity (deficit). Income and expenses are translated at average exchange rates for the period. Exchanges rates used for the preparation of the consolidated balance sheet as of December 31, 2022, and June 30, 2022, and our unaudited consolidated statements of operations for the six-month periods ended December 31, 2022 and 2021, were calculated as follows: as of December 31, 2022 0.932250 as of December 31, 2021 0.878975 July 1, 2022 through December 31, 2022 0.986978 July 1, 2021 through December 31, 2021 0.861343 The Company accounts for the transactions denominated in foreign currencies in the Parent Company’s books as transaction gains (losses) recognized in Other Income.

NOTE 2 - SUMMARY OF SIGNIFICA_5

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Going Concern (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Going Concern	Going Concern The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business. The Company has accumulated deficit of $38,033,682 as of December 31, 2022. The Company incurred a net loss before non-controlling interest of $78,405 for the six-months ended December 31, 2022 and used cash in operating activities of $20,789 during the same six-months ended December 31, 2022. These conditions raise substantial doubt about the Company's ability to continue as a going concern for a period of one year from issuance of the financial statements. The Company expects to continue to incur significant capital expenses in pursuing its business plan to market its products and expand its product line, while obtaining additional financing through stock offerings or other feasible financing alternatives. In order for the Company to continue its operations at its existing levels, the Company will require significant additional funds over the next twelve months. Therefore, the Company is dependent on funds raised through equity or debt offerings. Additional financing may not be available on terms favorable to the Company, or at all. If these funds are not available, the Company may not be able to execute its business plan or take advantage of business opportunities. The ability of the Company to obtain such additional financing and to achieve its operating goals is uncertain. In the event that the Company does not obtain additional capital, is not able to collect its outstanding receivables, or is not able to increase cash flow through the increase of sales, there is a substantial doubt of its being able to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 2 - SUMMARY OF SIGNIFICA_6

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Cash and Cash Equivalents (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents The Company maintains its cash in bank accounts in Germany. Cash and cash equivalents include time deposits for which the Company has no requirements for compensating balances. The Company has not experienced any losses in its uninsured bank accounts.

NOTE 2 - SUMMARY OF SIGNIFICA_7

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Research and Development	Research and Development Research and development costs are charged to operations as they are incurred. Legal fees and other direct costs incurred in obtaining and protecting patents are expensed as incurred.

NOTE 2 - SUMMARY OF SIGNIFICA_8

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company recognizes revenue based on the five criteria for revenue recognition established under Topic 606: 1) identify the contract, 2) identify separate performance obligations, 3) determine the transaction price, 4) allocate the transaction price among the performance obligations, and 5) recognize revenue as the performance obligations are satisfied. Type of Revenue The Company derives revenue primarily from licensing fees on sales of its wound spray product. The Company recognizes revenue based on the five criteria for revenue recognition established under Topic ASC 606 set forth below. The Company’s licenses provide a right to use and create performance obligations satisfied at a point in time. The Company recognizes revenue from the license when the performance obligation is satisfied through the transfer of the license. The Company will recognize royalty revenue a) when the licensee makes the subsequent sales or use that trigger the royalty, or (b) the performance obligation to which

NOTE 2 - SUMMARY OF SIGNIFICA_9

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Trade Accounts Receivable (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Trade Accounts Receivable	Trade Accounts Receivable Accounts receivable are reflected at estimated net realizable value. The Company maintains an allowance for doubtful accounts based upon a variety of factors. The Company reviews all open accounts and provides specific reserves for customer collection issues when it believes a loss is probable. The reserve estimate includes consideration of such factors as the length of time receivables are past due, the financial condition of the customer, and historical experience. The Company also records a reserve for all customers, excluding those that have been specifically reserved for, based upon evaluation of historical losses which exceeded the specific reserves the Company had established. For the six-month period ended December 31, 2022, and 2021, the Company recognized bad debt expense in the amounts of $0 and $0, respectively

NOTE 2 - SUMMARY OF SIGNIFIC_10

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Basic and Diluted Loss per Common Share (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Basic and Diluted Loss per Common Share	Basic and Diluted Earnings (Loss) Per Common Share Basic earnings (loss) per common share are computed by dividing income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period of computation. Diluted earnings (loss) per share give effect to all potential dilutive common shares outstanding during the period of compensation. The computation of diluted earnings (loss) per share does not assume conversion, exercise or contingent exercise of securities that would have an antidilutive effect on earnings. As of December 31, 2022, the Company had no potentially dilutive securities that would affect the loss per share if they were to be dilutive.

NOTE 2 - SUMMARY OF SIGNIFIC_11

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Comprehensive Loss (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Comprehensive Loss	Comprehensive Loss Total comprehensive loss represents the net change in stockholders' equity (deficit) during a period from sources other than transactions with stockholders and as such, includes net earnings (loss). For the Company, the components of other comprehensive loss are limited to the changes in the cumulative foreign currency translation adjustments, which is recorded as components of stockholders' equity (deficit).

NOTE 2 - SUMMARY OF SIGNIFIC_12

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Segments of an Enterprise and Related Information (Policies)	6 Months Ended
	Dec. 31, 2022
Policies
Segments of an Enterprise and Related Information	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying consolidated financial statements.

NOTE 2 - SUMMARY OF SIGNIFIC_13

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Foreign Currency Translation: Schedule of Foreign currency rates (Tables)	6 Months Ended
	Dec. 31, 2022
Tables/Schedules
Schedule of Foreign currency rates	as of December 31, 2022 0.932250 as of December 31, 2021 0.878975 July 1, 2022 through December 31, 2022 0.986978 July 1, 2021 through December 31, 2021 0.861343

NOTE 3 - COMMITMENTS AND CONT_2

NOTE 3 - COMMITMENTS AND CONTINGENCIES: Minimum Lease Payments Under Operating Leases (Tables)	6 Months Ended
	Dec. 31, 2022
Tables/Schedules
Minimum Lease Payments Under Operating Leases	The following table reconciles future minimum operating lease payments to the discounted lease liability as of December 31, 2022: Minimum Lease Payments Under Operating Leases Office Automotive Total Year ending June 30, 2023 6,337 2,178 8,515 2024 12,788 4,357 17,145 2025 13,019 363 13,382 Thereafter 13,255 - 13,255 Total Operating Lease Obligations $ 45,399 6,898 52,297 Less: Amount representing imputed interest $ (1,603) (114) (1,717) Present Value of minimum lease payments $ 43,796 6,784 50,580 Weighted average discount rate 2% Weighted average remaining term 3.24 years

NOTE 4 - RELATED PARTY TRANSA_2

NOTE 4 - RELATED PARTY TRANSACTIONS: Notes Payable Related Parties (Tables)	6 Months Ended
	Dec. 31, 2022
Tables/Schedules
Notes Payable Related Parties	Date Loan amount in EURO Loan amount converted into USD Interest rate Interest in USD Due March 06, 2015 100,000 107,267 5% 41,020 June 30, 2022 December 12, 2017 25,000 26,817 2% 2,711 on demand January 19, 2018 25,000 26,817 2% 2,655 on demand March 13, 2018 25,000 26,817 2% 2,577 on demand July 16, 2018 25,000 26,817 2% 2,394 on demand September 10, 2018 25,000 26,817 2% 2,311 on demand October 04, 2018 25,000 26,817 2% 2,276 on demand December 27, 2018 25,000 26,817 2% 2,153 on demand January 21, 2019 15,000 16,090 2% 1,270 on demand February 26, 2019 25,000 26,817 2% 2,063 on demand March 20, 2019 25,000 26,817 2% 2,031 on demand April 08, 2019 20,000 21,453 2% 1,602 on demand May 09, 2019 30,000 32,180 2% 2,349 on demand June 21, 2019 30,000 32,180 2% 2,273 on demand September 17, 2019 20,000 21,453 2% 1,412 on demand October 04, 2019 20,000 21,453 2% 1,392 on demand October 30, 2019 20,000 21,453 2% 1,361 on demand January 08, 2020 10,000 10,727 2% 639 on demand February 20, 2020 10,000 10,727 2% 614 on demand March 06, 2020 15,000 16,090 2% 908 on demand April 01, 2020 10,000 10,727 2% 590 on demand May 05, 2020 15,000 16,090 2% 855 on demand June 10, 2020 10,000 10,727 2% 549 on demand July 27, 2020 10,000 10,727 2% 521 on demand September 07, 2020 10,000 10,727 2% 497 on demand September 21, 2020 10,000 10,727 2% 488 on demand October 09, 2020 15,000 16,090 2% 717 on demand December 03, 2020 10,000 10,727 2% 446 on demand January 05, 2021 10,000 10,727 2% 426 on demand February 11, 2021 10,000 10,727 2% 404 on demand March 17, 2021 10,000 10,727 2% 384 on demand July 29, 2021 10,000 10,727 2% 306 on demand October 04, 2021 20,000 21,453 2% 533 on demand December 01, 2021 10,000 10,727 2% 232 on demand Total 675,000 724,055 82,959

NOTE 2 - SUMMARY OF SIGNIFIC_14

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Dec. 31, 2022
Sangui BioTech GmbH
Equity Method Investment, Ownership Percentage	90%

NOTE 2 - SUMMARY OF SIGNIFIC_15

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Foreign Currency Translation: Schedule of Foreign currency rates (Details)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Year End Rates
Foreign Currency Exchange Rate, Translation		0.932250	0.878975
Average Period Rates
ForeignCurrencyExchangeRateTranslation	0.986978	0.861343

NOTE 2 - SUMMARY OF SIGNIFIC_16

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Going Concern (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Details
Accumulated deficit	$ 38,033,682		$ 38,033,682		$ 37,954,625
NET LOSS BEFORE NON-CONTROLLING INTEREST	$ (103,339)	$ (10,161)	(78,405)	$ (38,078)
Net Cash Used in Operating Activities			$ 20,789	$ 78,344

NOTE 2 - SUMMARY OF SIGNIFIC_17

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Trade Accounts Receivable (Details) - USD ($)	6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Details
Accounts Receivable, Allowance for Credit Loss, Writeoff	$ 0	$ 0

NOTE 3 - COMMITMENTS AND CONT_3

NOTE 3 - COMMITMENTS AND CONTINGENCIES (Details)	6 Months Ended
	Dec. 31, 2022
Office
Lessee, Operating Lease, Description	The Company leases office facilities from an unrelated third party at 1,172 Euros per month, which amount includes 187 Euros for sales tax. The office lease contract began in January 2020 and expires June 2026.
Automobile
Lessee, Operating Lease, Description	The Company also leases an automobile under an operating lease. The lease provides for a lease payment of 538 Euros per month that began June 2018 expired May of 2020. The company extended the expired contract until May 2021 and then continued on a month-to-month basis, until a new lease vehicle was available. The monthly leasing rate was 670 Euros for the period from June 2020 to May 2021.
Automobile 2
Lessee, Operating Lease, Description	The company has signed a leasing contract for a new automobile with a term of 36 months with monthly leasing installments of 338 Euros ($363) and an initial deposit of 9,189 Euros ($9,857) in May 2021. The automobile was delivered in August 2021. The leasing contract that expired in May 2021 was continued until the new automobile was delivered.

NOTE 3 - COMMITMENTS AND CONT_4

NOTE 3 - COMMITMENTS AND CONTINGENCIES: Minimum Lease Payments Under Operating Leases (Details)	6 Months Ended
	Dec. 31, 2022 USD ($)
2023	$ 8,515
2024	17,145
2025	13,382
Thereafter	13,255
Total Operating Lease Obligations	52,297
Less: Amount representing imputed interest	(1,717)
Present Value of minimum lease payments	50,580
Office
2023	6,337
2024	12,788
2025	13,019
Thereafter	13,255
Total Operating Lease Obligations	45,399
Less: Amount representing imputed interest	(1,603)
Present Value of minimum lease payments	$ 43,796
Weighted average discount rate	2%
Weighted average remaining terms	3 years 2 months 26 days
Automobile
2023	$ 2,178
2024	4,357
2025	363
Thereafter	0
Total Operating Lease Obligations	6,898
Less: Amount representing imputed interest	(114)
Present Value of minimum lease payments	$ 6,784

NOTE 4 - RELATED PARTY TRANSA_3

NOTE 4 - RELATED PARTY TRANSACTIONS: Notes Payable Related Parties (Details) - USD ($)	Dec. 31, 2022	Dec. 01, 2021	Oct. 04, 2021	Jul. 29, 2021	Mar. 17, 2021	Feb. 11, 2021	Jan. 05, 2021	Dec. 03, 2020	Oct. 09, 2020	Sep. 21, 2020	Sep. 07, 2020	Jul. 27, 2020	Jun. 10, 2020	May 05, 2020	Apr. 01, 2020	Mar. 06, 2020	Feb. 20, 2020	Jan. 08, 2020	Oct. 30, 2019	Oct. 04, 2019	Sep. 17, 2019	Jun. 21, 2019	May 09, 2019	Apr. 08, 2019	Mar. 20, 2019	Feb. 26, 2019	Jan. 21, 2019	Dec. 27, 2018	Oct. 04, 2018	Sep. 10, 2018	Jul. 16, 2018	Mar. 13, 2018	Jan. 19, 2018	Dec. 12, 2017	Mar. 06, 2015
Interest rate		2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	2%	5%
Due		on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	on demand	June 30, 2022
Director | Euro Member Countries, Euro
Loan amount in EURO	$ 675,000	$ 10,000	$ 20,000	$ 10,000	$ 10,000	$ 10,000	$ 10,000	$ 10,000	$ 15,000	$ 10,000	$ 10,000	$ 10,000	$ 10,000	$ 15,000	$ 10,000	$ 15,000	$ 10,000	$ 10,000	$ 20,000	$ 20,000	$ 20,000	$ 30,000	$ 30,000	$ 20,000	$ 25,000	$ 25,000	$ 15,000	$ 25,000	$ 25,000	$ 25,000	$ 25,000	$ 25,000	$ 25,000	$ 25,000	$ 100,000
Director | United States dollar (next day) (funds code)
Loan amount converted into USD	724,055	10,727	21,453	10,727	10,727	10,727	10,727	10,727	16,090	10,727	10,727	10,727	10,727	16,090	10,727	16,090	10,727	10,727	21,453	21,453	21,453	32,180	32,180	21,453	26,817	26,817	16,090	26,817	26,817	26,817	26,817	26,817	26,817	26,817	107,267
Interest in USD	$ 82,959	$ 232	$ 533	$ 306	$ 384	$ 404	$ 426	$ 446	$ 717	$ 488	$ 497	$ 521	$ 549	$ 855	$ 590	$ 908	$ 614	$ 639	$ 1,361	$ 1,392	$ 1,412	$ 2,273	$ 2,349	$ 1,602	$ 2,031	$ 2,063	$ 1,270	$ 2,153	$ 2,276	$ 2,311	$ 2,394	$ 2,577	$ 2,655	$ 2,711	$ 41,020

NOTE 4 - RELATED PARTY TRANSA_4

NOTE 4 - RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2022
Accrued interest - related party	$ 82,960		$ 82,960		$ 72,365
Interest Expense, Debt	5,086	$ 4,712	10,146	$ 9,419
Notes Payable	55,890		55,890
Interest
Accrued interest - related party	82,959		82,959
Director | Principal
Accrued interest - related party	42,907		42,907
Loans Payable
Interest Expense, Debt			8,428	9,418
Director 2
Interest Expense, Debt			31
Director 2 | Principal
Accrued interest - related party	$ 12,720		12,720
Notes Payable
Interest Expense, Debt			1,678
Notes Payable2
Interest Expense, Debt			$ 9	$ 0

NOTE 5 - STOCKHOLDERS' DEFICIT

NOTE 5 - STOCKHOLDERS' DEFICIT (Details) - USD ($)	Dec. 31, 2022	Jun. 30, 2022
Details
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Shares, Issued	209,955,598	209,955,598
Common Stock, Shares, Outstanding	209,901,842	209,901,842
Treasury Stock, Common, Shares	53,756
Treasury Stock, Value	$ 19,387