Cover
Cover | 3 Months Ended |
Dec. 31, 2021shares | |
Cover [Abstract] | |
Document Type | 10-Q/A |
Amendment Flag | true |
Amendment Description | This Amendment (the “Amendment”) to Form 10-Q marked Form 10Q/A, is being filed to amend our Quarterly Report on Form 10-Q for the quarter ended December 31, 2021, which was originally filed with the Securities and Exchange Commission on February 14, 2022 (the “Original 10-Q”). This Amendment is being filed to disclose the conclusions of our principal executive and principal financial officers regarding the effectiveness of our disclosure controls and procedures and internal control over financial reporting as of December 31, 2021. |
Document Quarterly Report | true |
Document Transition Report | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Period Focus | Q1 |
Document Fiscal Year Focus | 2021 |
Current Fiscal Year End Date | --09-30 |
Entity File Number | 333-146834 |
Entity Registrant Name | Regenicin, Inc. |
Entity Central Index Key | 0001412659 |
Entity Tax Identification Number | 27-3083341 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 10 High Court |
Entity Address, City or Town | Little Falls |
Entity Address, State or Province | NJ |
Entity Address, Postal Zip Code | 07424 |
City Area Code | (973) |
Local Phone Number | 557-8914 |
Title of 12(b) Security | COMMON |
Entity Current Reporting Status | No |
Entity Interactive Data Current | No |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 153,483,050 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2021 | Sep. 30, 2021 |
CURRENT ASSETS | ||
Cash | $ 1,727 | $ 1,859 |
Common stock of Amarantus | 4,100 | 2,750 |
Total current and total assets | 5,827 | 4,609 |
CURRENT LIABILITIES | ||
Accounts payable | 85,000 | 93,674 |
Accrued expenses - other (related party of $51,245 and $41,925) | 243,161 | 234,894 |
Accrued salaries - officers | 4,176,251 | 4,031,001 |
Promissory note payable | 175,000 | 175,000 |
Convertible promissory note - officer | 335,683 | 335,683 |
Loan payable | 10,000 | 10,000 |
Loans payable - officer | 92,735 | 82,235 |
Total current and total liabilities | 5,117,830 | 4,962,487 |
STOCKHOLDERS' DEFICIENCY | ||
Series A 8% Convertible Preferred stock, $0.001 par value, 5,500,000 shares authorized; 885,000 issued and outstanding | 885 | 885 |
Common stock, $0.001 par value; 200,000,000 shares authorized; 157,911,410 issued and 153,483,050 outstanding | 157,914 | 157,914 |
Additional paid-in capital | 10,208,339 | 10,208,339 |
Accumulated deficit | (15,474,713) | (15,320,588) |
Less: treasury stock; 4,428,360 shares at par | (4,428) | (4,428) |
Total stockholders' deficiency | (5,112,003) | (4,957,878) |
Total liabilities and stockholders' deficiency | $ 5,827 | $ 4,609 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) | Dec. 31, 2021USD ($)$ / sharesshares |
Statement of Financial Position [Abstract] | |
[custom:AccruedLiabilitiesCurrentRelatedParties-0] | $ | $ 51,245 |
[custom:SeriesAPreferredStockAtParValue-0] | $ / shares | $ 0.001 |
[custom:SeriesASharesAuthorized-0] | 5,500,000 |
[custom:SeriesASharesIssued-0] | 885,000 |
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 |
Common Stock, Shares Authorized | 200,000,000 |
Common Stock, Shares, Issued | 157,911,410 |
Common Stock, Shares, Outstanding | 153,483,050 |
Treasury Stock, Shares | 4,428,360 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||
Revenues | ||
Operating expenses | ||
General and administrative | 146,532 | 150,818 |
Loss from operations | (146,532) | (150,818) |
Other Income Expenses | ||
Interest expense (related party of $(4,532) and $(3,875) | (8,943) | (8,285) |
Change in unrealized loss on investment | 1,350 | (775) |
Total other Expenses | (7,593) | (9,060) |
Net loss | (154,125) | (159,878) |
Preferred stock dividends | (17,845) | (17,845) |
Net loss attributable to common stockholders | $ (171,970) | $ (177,723) |
Loss per share basic and diluted | $ 0 | $ 0 |
Weighted average number of shares outstanding basic | 153,483,050 | 153,483,050 |
CONSOLIDATED STATEMENTS OF OP_2
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | ||
Interest Expense, Related Party | $ (4,532) | $ (3,875) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIENCY - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Balances at October 1, 2020 | $ (4,957,878) | $ (4,287,276) |
Net loss | (154,125) | (159,878) |
Balances at December 31, 2020 | (4,287,276) | (4,447,154) |
Preferred Stock [Member] | ||
Balances at October 1, 2020 | 885 | $ 885 |
Shares, Outstanding, Beginning Balance | 885,000 | |
Net loss | ||
Balances at December 31, 2020 | 885 | 885 |
Common Stock [Member] | ||
Balances at October 1, 2020 | 157,914 | $ 157,914 |
Shares, Outstanding, Beginning Balance | 157,911,410 | |
Net loss | ||
Balances at December 31, 2020 | 157,914 | 157,914 |
Additional Paid-in Capital [Member] | ||
Balances at October 1, 2020 | 10,208,339 | 10,208,339 |
Net loss | ||
Balances at December 31, 2020 | 10,208,339 | 10,208,339 |
Retained Earnings [Member] | ||
Balances at October 1, 2020 | (15,320,588) | 14,649,986 |
Net loss | (154,125) | (159,878) |
Balances at December 31, 2020 | (15,474,713) | (14,809,864) |
AOCI Attributable to Parent [Member] | ||
Balances at October 1, 2020 | ||
Net loss | ||
Balances at December 31, 2020 | ||
Treasury Stock [Member] | ||
Balances at October 1, 2020 | (4,428) | (4,428) |
Net loss | ||
Balances at December 31, 2020 | $ (4,428) | $ (4,428) |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (154,125) | $ (159,878) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Change in unrealized loss on investment | (1,350) | 775 |
Accrued interest on loans and notes payable | 8,943 | 8,285 |
Changes in operating assets and liabilities | ||
Accounts payable | (8,676) | (5,625) |
Accrued expenses - other | (674) | |
Accrued salaries - officers | 145,250 | 145,250 |
Net cash used in operating activities | (10,632) | (11,193) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds of loans from officers | 10,500 | 11,200 |
Net cash provided by financing activities | 10,500 | 11,200 |
NET DECREASE IN CASH | (132) | 7 |
CASH - BEGINNING OF PERIOD | 1,859 | 1,366 |
CASH - END OF PERIOD | 1,727 | 1,373 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | ||
Cash paid for taxes |
THE COMPANY
THE COMPANY | 3 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
THE COMPANY | NOTE 1 - THE COMPANY Regenicin, Inc. ("Regenicin"), formerly known as Windstar, Inc., was incorporated in the state of Nevada on September 6, 2007 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | NOTE 2 - BASIS OF PRESENTATION Interim Financial Statements: The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and note disclosures required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of those of a recurring nature) considered necessary for a fair presentation have been included. Operating results for the three months ended December 31, 2021, are not necessarily indicative of the results that may be expected for the year ending September 30, 2022. These unaudited consolidated financial statements should be read in conjunction with the unaudited consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K/A for the year ended September 30, 2021, as filed with the Securities and Exchange Commission. The consolidated balance sheet as of September 30, 2021 contained herein has been derived from the unaudited consolidated financial statements as of September 30, 2021 but does not include all disclosures required by U.S. GAAP. Going Concern: The Company's consolidated financial statements have been prepared assuming that the Company will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred recurring losses and as of December 31, 2021, has an accumulated deficit of approximately $15.5 million from inception, expects to incur further losses in the development of its business and has been dependent on funding operations through the issuance of convertible debt and private sale of equity securities. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Currently management plans to finance operations through the private or public placement of debt and/or equity securities. However, no assurance can be given at this time as to whether the Company will be able to obtain such financing. The consolidated financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Financial Instruments and Fair Value Measurement: As of October 1, 2018, the Company adopted ASU No. 2016-01, “Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities”. The new standard principally affects accounting standards for equity investments, financial liabilities where the fair value option has been elected, and the presentation and disclosure requirements for financial instruments. Upon the effective date of the new standards, all equity investments in unconsolidated entities, other than those accounted for using the equity method of accounting, will generally be measured at fair value through earnings. There no longer is an available-for-sale classification and therefore, no changes in fair value will be reported in other comprehensive income (loss) for equity securities with readily determinable fair values. As a result of the adoption, the Company recorded a cumulative effect adjustment of a $950 decrease to accumulated other comprehensive income, and a corresponding decrease to accumulated deficit, as of October 1, 2018. Common stock of Amarantus BioScience Holdings, Inc. (“Amarantus”) is carried at fair value in the accompanying consolidated balance sheets. Fair value is determined under the guidelines of GAAP which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Realized gains and losses, determined using the first-in, first-out (FIFO) method, and unrealized gains and losses are included in other income (expense) on the statement of operations. The common stock of Amarantus is valued at the closing price reported on the active market on which the security is traded. This valuation methodology is considered to be using Level 1 inputs. The total value of Amarantus common stock at December 31, 2021 is $ 4,100 1,350 (775) Recently Issued Accounting Pronouncements: Any recent pronouncements issued by the FASB or other authoritative standards groups with future effective dates are either not applicable or are not expected to be significant to the consolidated financial statements of the Company. |
LOSS PER SHARE
LOSS PER SHARE | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
LOSS PER SHARE | NOTE 3 - LOSS PER SHARE Basic loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share gives effect to dilutive convertible securities, options, warrants and other potential common stock outstanding during the period; only in periods in which such effect is dilutive. The following weighted average securities have been excluded from the calculation of net loss per share for the three months ended December 31, 2021 and 2020 as the exercise price was greater than the average market price of the common shares: 2021 2020 Options — — The following weighted average securities have been excluded from the calculation even though the exercise price was less than the average market price of the common shares because the effect of including these potential shares was anti-dilutive due to the net losses incurred during 2021 and 2020: 2021 2020 Options 11,771,344 11,771,344 Convertible Preferred Stock 8,850,000 8,850,000 Convertible Promissory Note 17,493,789 22,084,408 Shares excluded from the calculation of diluted loss per share 38,115,133 42,705,752 |
LOANS PAYABLE
LOANS PAYABLE | 3 Months Ended |
Dec. 31, 2021 | |
Loans Payable | |
LOANS PAYABLE | NOTE 4 – LOANS PAYABLE Convertible Promissory Note – Officer Through March 31, 2020, John Weber, the Company's Chief Financial Officer, advanced the Company a total of $ 335,683 5% September 30, 2022 4,532 3,874 Accrued interest on the note was $ 51,245 41,925 expenses on the accompanying consolidated balance sheets. . Loan Payable In February 2011, an investor advanced $10,000. The loan does not bear interest and is due on demand. At both December 31, 2021 and September 30, 2021, the loan payable totaled $ 10,000 Loans Payable - Officer: Through September 30, 2020, J. Roy Nelson, the Company’s Chief Science Officer, made net advances to the Company totaling $ 26,935 In September 2018, Randall McCoy, the Company’s Chief Executive Officer, advanced to the Company $ 4,500 From July 2020 through December 31, 2021, John Weber, the Company’s Chief Financial Officer, advanced to the Company $61,300. The loan bears interest at 5% per annum and is due on demand. |
BRIDGE FINANCING
BRIDGE FINANCING | 3 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
BRIDGE FINANCING | NOTE 5 - BRIDGE FINANCING On December 21, 2011 150,000 June 21, 2012 10 175,000 4,411 166,849 162,438 |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 6 - INCOME TAXES The Company recorded no income tax expense for the three months ended December 31, 2021 and 2020 because the estimated annual effective tax rate was zero. As of December 31, 2021, the Company continues to provide a valuation allowance against its net deferred tax assets since the Company believes it is more likely than not that its deferred tax assets will not be realized. |
STOCKHOLDERS' DEFICIENCY
STOCKHOLDERS' DEFICIENCY | 3 Months Ended |
Dec. 31, 2021 | |
Equity [Abstract] | |
STOCKHOLDERS' DEFICIENCY | NOTE 7 – STOCKHOLDERS' DEFICIENCY Series A At both December 31, 2021 and September 30, 2021, 885,000 Series A Preferred pays a dividend of 8% 1.00 The Series A Preferred Stock was marketed through a private placement memorandum that included a reference to a ratchet provision which would have allowed the holders of the stock to claim a better conversion rate based on other stock transactions conducted by the Company during the three-year period following the original issuance of the shares. The Certificate of Designation does not contain a ratchet provision. Certain of the stock related transactions consummated by the Company during this time period may have triggered this ratchet provision, and thus created a claim by holders of the Series A Preferred Stock who purchased based on this representation for a greater conversion rate than initially provided. There have been no new developments related to the remaining Series A holders regarding this claim and the conversion rate of their Series A Preferred Stock. Changes to the preferred stock conversion ratio may result in modification or extinguishment accounting. That may result in a deemed preferred stock dividend which would reduce net income available to common stockholders in the calculation of earnings per share. Certain of the smaller Series A holders have already converted or provided notice of conversion of their shares. In respect of this claim, the Company and its outside counsel determined that it is not possible to offer an opinion regarding the outcome. An adverse outcome could materially increase the accumulated deficit. The dividends are cumulative commencing on the issue date when and if declared by the Board of Directors. As of December 31, 2021, and September 30, 2021, dividends in arrears were $ 765,075 747,232 Series B Four million ( 4,000,000) 2.00 |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
STOCK-BASED COMPENSATION | NOTE 8 - STOCK-BASED COMPENSATION 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, “Equity.” Costs are measured at the estimated fair 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 earlier of a performance commitment or completion of performance by the provider of goods or services as defined by ASC 505. |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 3 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 9 - RELATED PARTY TRANSACTIONS The Company’s principal executive offices are located in Little Falls, New Jersey. The headquarters is located in the offices of McCoy Enterprises LLC, an entity controlled by Mr. McCoy. The office is attached to his residence but has its own entrances, restroom and kitchen facilities. The Company also maintains an office at Carbon & Polymer Research Inc. ("CPR") in Pennington, New Jersey, which is the Company's materials and testing laboratory. An officer of the Company is an owner of CPR. No rent is charged for either premises. On May 16, 2016, the Company entered into an agreement with CPR in which CPR will supply the collagen scaffolds used in the Company's production of the skin tissue. The contract contains a most favored customer clause guaranteeing the Company prices equal or lower than those charged to other customers. The Company has not yet made purchases from CPR. See Note 4 for loans payable to related parties. |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Dec. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 10 - SUBSEQUENT EVENTS Management has evaluated subsequent events through the date of this filing. |
BASIS OF PRESENTATION (Policies
BASIS OF PRESENTATION (Policies) | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Interim Financial Statements: | Interim Financial Statements: The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and note disclosures required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of those of a recurring nature) considered necessary for a fair presentation have been included. Operating results for the three months ended December 31, 2021, are not necessarily indicative of the results that may be expected for the year ending September 30, 2022. These unaudited consolidated financial statements should be read in conjunction with the unaudited consolidated financial statements and footnotes thereto included in the Company's Annual Report on Form 10-K/A for the year ended September 30, 2021, as filed with the Securities and Exchange Commission. The consolidated balance sheet as of September 30, 2021 contained herein has been derived from the unaudited consolidated financial statements as of September 30, 2021 but does not include all disclosures required by U.S. GAAP. |
Going Concern: | Going Concern: The Company's consolidated financial statements have been prepared assuming that the Company will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company has incurred recurring losses and as of December 31, 2021, has an accumulated deficit of approximately $15.5 million from inception, expects to incur further losses in the development of its business and has been dependent on funding operations through the issuance of convertible debt and private sale of equity securities. These conditions raise substantial doubt about the Company's ability to continue as a going concern. Currently management plans to finance operations through the private or public placement of debt and/or equity securities. However, no assurance can be given at this time as to whether the Company will be able to obtain such financing. The consolidated financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. |
Financial Instruments and Fair Value Measurement: | Financial Instruments and Fair Value Measurement: As of October 1, 2018, the Company adopted ASU No. 2016-01, “Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities”. The new standard principally affects accounting standards for equity investments, financial liabilities where the fair value option has been elected, and the presentation and disclosure requirements for financial instruments. Upon the effective date of the new standards, all equity investments in unconsolidated entities, other than those accounted for using the equity method of accounting, will generally be measured at fair value through earnings. There no longer is an available-for-sale classification and therefore, no changes in fair value will be reported in other comprehensive income (loss) for equity securities with readily determinable fair values. As a result of the adoption, the Company recorded a cumulative effect adjustment of a $950 decrease to accumulated other comprehensive income, and a corresponding decrease to accumulated deficit, as of October 1, 2018. Common stock of Amarantus BioScience Holdings, Inc. (“Amarantus”) is carried at fair value in the accompanying consolidated balance sheets. Fair value is determined under the guidelines of GAAP which defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Realized gains and losses, determined using the first-in, first-out (FIFO) method, and unrealized gains and losses are included in other income (expense) on the statement of operations. The common stock of Amarantus is valued at the closing price reported on the active market on which the security is traded. This valuation methodology is considered to be using Level 1 inputs. The total value of Amarantus common stock at December 31, 2021 is $ 4,100 1,350 (775) |
Recently Issued Accounting Pronouncements: | Recently Issued Accounting Pronouncements: Any recent pronouncements issued by the FASB or other authoritative standards groups with future effective dates are either not applicable or are not expected to be significant to the consolidated financial statements of the Company. |
LOSS PER SHARE (Tables)
LOSS PER SHARE (Tables) | 3 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Schedule of Income per Common Share | 2021 2020 Options — — |
Income Loss per Common Share Exclusion | 2021 2020 Options 11,771,344 11,771,344 Convertible Preferred Stock 8,850,000 8,850,000 Convertible Promissory Note 17,493,789 22,084,408 Shares excluded from the calculation of diluted loss per share 38,115,133 42,705,752 |
THE COMPANY (Details Narrative)
THE COMPANY (Details Narrative) | 3 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Entity Incorporation, Date of Incorporation | Sep. 6, 2007 |
Schedule of Income per Common S
Schedule of Income per Common Share (Details) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
Options |
Income Loss per Common Share Ex
Income Loss per Common Share Exclusion (Details) - shares | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Accounting Policies [Abstract] | ||
Options | 11,771,344 | 11,771,344 |
Convertible Preferred Stock | 8,850,000 | 8,850,000 |
Convertible Promissory Note | 17,493,789 | 22,084,408 |
Shares excluded from the calculation of diluted loss per share | 38,115,133 | 42,705,752 |
BASIS OF PRESENTATION (Details
BASIS OF PRESENTATION (Details Narrative) - USD ($) | 3 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | Jun. 30, 2021 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Common Stock, Value, Issued | $ 157,914 | $ 157,914 | ||
Unrealized Gain (Loss) on Investments | $ 1,350 | $ (775) | ||
A M B S [Member] | ||||
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Line Items] | ||||
Common Stock, Value, Issued | $ 4,100 |
LOANS PAYABLE (Details Narrativ
LOANS PAYABLE (Details Narrative) - USD ($) | 3 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2018 | |
Short-term Debt [Line Items] | ||||||
[custom:AccruedLiabilitiesCurrentRelatedParties-0] | $ 51,245 | $ 41,925 | ||||
Loans Payable, Current | $ 10,000 | 10,000 | ||||
Chief Financial Officer [Member] | ||||||
Short-term Debt [Line Items] | ||||||
Loans Payable | $ 335,683 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||
Debt Instrument, Maturity Date | Sep. 30, 2022 | |||||
Debt Instrument, Increase, Accrued Interest | $ 4,532 | $ 3,874 | ||||
[custom:AccruedLiabilitiesCurrentRelatedParties-0] | $ 51,245 | $ 41,925 | ||||
Chief Science Officer [Member] | ||||||
Short-term Debt [Line Items] | ||||||
Loans Payable, Current | $ 26,935 | |||||
Chief Executive Officer [Member] | ||||||
Short-term Debt [Line Items] | ||||||
Loans Payable | $ 4,500 |
BRIDGE FINANCING (Details Narra
BRIDGE FINANCING (Details Narrative) - Promissory Note 2 [Member] - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument, Issuance Date | Dec. 21, 2011 | |
Debt Instrument, Face Amount | $ 150,000 | |
Debt Instrument, Maturity Date | Jun. 21, 2012 | |
[custom:DebtInstrumentAdditionalInterestRateStatedPercentage-0] | 1000.00% | |
[custom:BalanceOfConvertibleNotesPayable-0] | $ 175,000 | |
Interest Expense, Debt | 4,411 | $ 4,411 |
Accrued Liabilities and Other Liabilities | $ 166,849 | $ 162,438 |
STOCKHOLDERS' DEFICIENCY (Detai
STOCKHOLDERS' DEFICIENCY (Details Narrative) - USD ($) | 3 Months Ended | |
Dec. 31, 2021 | Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
[custom:SeriesASharesIssued-0] | 885,000 | |
Debt Conversion, Converted Instrument, Rate | 8.00% | |
[custom:DividendStatedValue] | $ 2 | |
Preferred Stock [Member] | Series A Preferred Stock [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
[custom:SeriesASharesIssued-0] | 885,000 | 885,000 |
Preferred Stock, Convertible, Conversion Price | $ 1 | |
Dividends Payable, Current | $ 765,075 | $ 747,232 |
Preferred Stock [Member] | Series B Preferred Stock [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
[custom:SeriesBSharesAuthorized-0] | 4,000,000 |