Marizyme (MRZM) 10-Q 22 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 22, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	000-53223
Entity Registrant Name	MARIZYME, INC
Entity Central Index Key	0001413754
Entity Tax Identification Number	82-5464863
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	555 Heritage Drive
Entity Address, Address Line Two	Suite 205
Entity Address, City or Town	Jupiter
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33458
City Area Code	(925)
Local Phone Number	400-3123
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,928,188

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current
Cash	$ 16,673	$ 2,902,762
Accounts receivable	96,291	40,585
Prepaid expense	35,000	106,390
Inventory	15,390	56,340
Total current assets	163,354	3,106,077
Non-current
Property, plant and equipment, net	1,273	7,122
Operating lease right-of-use assets, net	1,163,159	1,317,830
Intangible assets, net	46,385,121	42,278,211
Prepaid royalties, non-current	340,969	344,321
Deposits	30,000	30,000
Goodwill	5,416,000
Total non-current assets	53,336,522	43,977,484
Total assets	53,499,876	47,083,561
Current
Accounts payable and accrued expenses	1,396,945	478,103
Due to related parties	638,530
Operating lease obligations	260,106	243,292
Total current liabilities	2,295,581	721,395
Non-current
Operating lease obligations, net of current potion	941,732	1,074,538
Convertible notes, net of debt discount	179,457
Derivative liabilities	391,648
Contingent liabilities	9,454,000
Total non-current liabilities	10,966,837	1,074,538
Total liabilities	13,262,418	1,795,933
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred stock, $0.001 par value, 25,000,000 shares authorized, 0 shares issued and outstanding as of September 30, 2021 and December 31, 2020
Common stock, par value $0.001, 75,000,000 shares authorized, 35,928,188 shares issued and outstanding as of September 30, 2021 and December 31, 2020	35,928	35,928
Additional paid-in capital	82,509,957	82,077,334
Accumulated deficit	(42,308,427)	(36,825,634)
Total stockholders’ equity	40,237,458	45,287,628
Total liabilities and stockholders’ equity	$ 53,499,876	$ 47,083,561

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	35,928,188	35,928,188
Common stock, shares outstanding	35,928,188	35,928,188

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 37,215	$ 124,985	$ 271,952	$ 124,985
Operating expenses:
Direct costs of revenue	18,356	25,714	168,419	25,714
Professional fees (includes related party amounts of $90,000, $90,000, $270,000, and $90,000, respectively)	556,254	170,753	1,808,093	494,295
Salary expenses	617,826	433,318	2,478,357	433,318
Stock-based compensation	64,074	1,107,085	626,449	1,674,200
Other general and administrative expenses	536,483	453,158	1,071,017	468,782
Total operating expenses	1,792,993	2,190,028	6,152,335	3,096,309
Total operating loss	(1,755,778)	(2,065,043)	(5,880,383)	(2,971,324)
Other income (expense):
Interest and accretion expenses	(70,221)		(74,410)
Change in fair value of contingent liabilities	194,000		472,000
Total other income	123,779		397,590
Net loss	$ (1,631,999)	$ (2,065,043)	$ (5,482,793)	$ (2,971,324)
Net loss per share – basic and diluted	$ (0.05)	$ (0.07)	$ (0.15)	$ (0.13)
Weighted average number of shares of common stock outstanding – basic and diluted	35,928,188	29,288,226	35,928,188	23,161,329

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Professional fees related parties	$ 90,000	$ 90,000	$ 270,000	$ 90,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 19,859	$ 59,319,594	$ (16,000)	$ (30,980,581)	$ 28,342,872
Beginning balance, shares at Dec. 31, 2019	19,858,939
Issuance of common stock for services	$ 125	124,875			125,000
Issuance of common stock for services, shares	125,000
Stock-based compensation		221,058			221,058
Net loss				(471,370)	(471,370)
Ending balance, value at Mar. 31, 2020	$ 19,984	59,665,527	(16,000)	(31,451,951)	28,217,560
Ending balance, shares at Mar. 31, 2020	19,983,939
Beginning balance, value at Dec. 31, 2019	$ 19,859	59,319,594	(16,000)	(30,980,581)	28,342,872
Beginning balance, shares at Dec. 31, 2019	19,858,939
Net loss					(2,971,324)
Ending balance, value at Sep. 30, 2020	$ 35,888	81,946,582	(16,000)	(33,951,905)	48,014,565
Ending balance, shares at Sep. 30, 2020	35,888,188
Beginning balance, value at Dec. 31, 2019	$ 19,859	59,319,594	(16,000)	(30,980,581)	$ 28,342,872
Beginning balance, shares at Dec. 31, 2019	19,858,939
Exercise of options for common stock, shares					254,057
Ending balance, value at Dec. 31, 2020	$ 35,928	82,077,334		(36,825,634)	$ 45,287,628
Ending balance, shares at Dec. 31, 2020	35,928,188
Beginning balance, value at Mar. 31, 2020	$ 19,984	59,665,527	(16,000)	(31,451,951)	28,217,560
Beginning balance, shares at Mar. 31, 2020	19,983,939
Common shares issued in lieu of AP	$ 195	184,665			184,860
Common shares issued in lieu of AP, shares	195,000
Exercise of options for common stock	$ 5	5,045			5,050
Exercise of options for common stock, shares	5,000
Stock-based compensation		221,057			221,057
Net loss				(434,911)	(434,911)
Ending balance, value at Jun. 30, 2020	$ 20,184	60,076,294	(16,000)	(31,886,862)	28,193,616
Ending balance, shares at Jun. 30, 2020	20,183,939
Sale of common stock	$ 5,600	6,269,464			6,275,064
Sale of common stock, shares	5,600,192
Issuance of common stock for acquisition	$ 10,000	12,490,000			12,500,000
Issuance of common stock for acquisition, shares	10,000,000
Issuance of warrants for acquisition		1,932,300			1,932,300
Issuance of warrants for services		253,749			253,749
Exercise of options for common stock	$ 54	59,399			59,453
Exercise of options for common stock, shares	54,057
Issuance of common stock for services	$ 50	62,450			62,500
Issuance of common stock for services, shares	50,000
Stock-based compensation		802,926			802,926
Net loss				(2,065,043)	(2,065,043)
Ending balance, value at Sep. 30, 2020	$ 35,888	81,946,582	(16,000)	(33,951,905)	48,014,565
Ending balance, shares at Sep. 30, 2020	35,888,188
Beginning balance, value at Dec. 31, 2020	$ 35,928	82,077,334		(36,825,634)	45,287,628
Beginning balance, shares at Dec. 31, 2020	35,928,188
Stock-based compensation		334,385			334,385
Net loss				(2,211,866)	(2,211,866)
Ending balance, value at Mar. 31, 2021	$ 35,928	82,411,719		(39,037,500)	43,410,147
Ending balance, shares at Mar. 31, 2021	35,928,188
Beginning balance, value at Dec. 31, 2020	$ 35,928	82,077,334		(36,825,634)	45,287,628
Beginning balance, shares at Dec. 31, 2020	35,928,188
Net loss					(5,482,793)
Ending balance, value at Sep. 30, 2021	$ 35,928	82,509,957		(42,308,427)	40,237,458
Ending balance, shares at Sep. 30, 2021	35,928,188
Beginning balance, value at Mar. 31, 2021	$ 35,928	82,411,719		(39,037,500)	43,410,147
Beginning balance, shares at Mar. 31, 2021	35,928,188
Stock-based compensation		194,657			194,657
Net loss				(1,638,928)	(1,638,928)
Adjustment of warrants value in connection with finalizing the business combination		(732,300)			(732,300)
Ending balance, value at Jun. 30, 2021	$ 35,928	81,874,076		(40,676,428)	41,233,576
Ending balance, shares at Jun. 30, 2021	35,928,188
Stock-based compensation		64,074			64,074
Net loss				(1,631,999)	(1,631,999)
Warrants issued in connection with convertible notes		571,807			571,807
Ending balance, value at Sep. 30, 2021	$ 35,928	$ 82,509,957		$ (42,308,427)	$ 40,237,458
Ending balance, shares at Sep. 30, 2021	35,928,188

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (5,482,793)	$ (2,971,324)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	(76,013)	342,583
Stock-based compensation	593,116	1,420,451
Stock-based compensation - restricted common stock	33,333
Interest and accretion	74,410
Issuance of warrants for services		253,749
Change in fair value of contingent liabilities	(472,000)
Change in operating assets and liabilities:
Accounts receivable	(55,706)	(93,010)
Prepaid expense	38,057	(62,487)
Inventory	40,950	21,500
Accounts payable and accrued expenses	721,078	140,233
Due to related parties	272,530
Net cash used in operating activities	(4,313,038)	(948,305)
Cash flows used in investing activities:
Purchase of intangible assets		(130,333)
Net cash used in investing activities		(130,333)
Cash flows from financing activities:
Proceeds from promissory notes due to related parties	366,000
Proceeds from convertible notes, net of issuance cost	1,060,949
Shares issued for cash, net of offering costs		6,275,064
Net cash provided by financing activities	1,426,949	6,275,064
Net (decrease)/ increase in cash	(2,886,089)	5,196,426
Cash at beginning of period	2,902,762	90
Cash at end of period	16,673	5,196,516
Non-cash investing and financing activities:
Derivative liabilities	391,648
Contingent liabilities	9,926,000
Warrants issued in connection with convertible notes	571,807
Issuance of common stock in lieu of payables		261,453
Issuance of common stock in connection with business combination		12,500,000
Issuance of warrants in connection with business combination		$ 1,932,300

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 – DESCRIPTION OF BUSINESS Maryzime, Inc. (the “Company” or “Marizyme”) is a Nevada corporation originally incorporated on March 20, 2007, under the name SWAV Enterprises, Ltd. On September 6, 2010, the Company name was changed to GBS Enterprises Inc. and from 2010 to September 2018 the Company was in the software products and advisory services business for email and instant messaging applications. The Company divested that business between December 2016 and September 2018 and focused on the acquisition of life science technologies. On March 21, 2018, the Company’s name was changed to Marizyme, Inc., to reflect the new life sciences focus. Marizyme’s common stock is currently quoted on the OTC Markets’ QB tier under the symbol “MRZM”.

GOING CONCERN

GOING CONCERN	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	NOTE 2 – GOING CONCERN The Company’s unaudited condensed consolidated financial statements are prepared using principals generally accepted in the United States of America applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company does not have an established source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern. The Company, since its inception, has incurred recurring operating losses and negative cash flows from operations and has an accumulated deficit of $ 42,308,427 at September 30, 2021. Additionally, the Company has negative working capital of $2,132,227 and $16,673 of cash on hand. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Under the going concern assumption, an entity is ordinarily viewed as continuing its business for the foreseeable future with neither the intention or necessity of liquidation, ceasing trading, or seeking protection from creditors pursuant to the laws and regulations. Accordingly, assets and liabilities are recorded on the basis that the entity will be able to realize its assets and discharge its liabilities in the normal course of business. The ability of the Company to continue as a going concern is dependent upon its ability to continue to successfully develop its intangible assets, receive an approval from the U.S. Federal and Drug Administration (the “FDA”) to extend the selling of the products into the U.S. market which will allow the Company to attain profitable operations. During the next twelve months, the Company’s foreseeable cash requirements will relate to continuous operations of its business, maintaining its good standing and making the required filing with the Securities and Exchange Commission (the “SEC”), and the payment of expenses associated with its product development. The Company may experience a cash shortfall and be required to raise additional capital. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to continue to develop and expand its products and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. The unaudited condensed consolidated financial statements do not include any adjustments related 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries, Somahlution, Inc. (“Somahlution”), Somaceutica, Inc. (“Somaceutica”) and Marizyme Sciences, Inc. (“Marizyme Sciences”). All intercompany transactions have been eliminated on consolidation. The accompanying unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on April 15, 2021 (the “2020 Form 10-K”). The balance sheet as of December 31, 2020 was derived from audited consolidated financial statements included in the 2020 Form 10-K but does not include all disclosures required by U.S. GAAP for complete financial statements. The Company’s significant accounting policies are described in Note 3 to those consolidated financial statements. Interim results may not be indicative of the results that may be expected for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. The unaudited condensed consolidated financial statements reflect all adjustments which in the opinion of management are necessary for a fair statement of results of operations, financial condition, cash flows and stockholders’ equity for the periods presented. Except as otherwise disclosed, all such adjustments are of a normal recurring nature. Use of Estimates The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make use of certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported periods. The Company bases its estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Significant estimates are related to the allocation of the purchase price in a business combination to the underlying assets and liabilities, recoverability of long-term assets including intangible assets and goodwill, amortization expense, valuation of warrants, stock-based compensation, derivative liabilities, contingent liabilities and deferred tax valuations. Fair Value Measurements The Company uses the fair value hierarchy to measure the value of its financial instruments. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: ● Level 1 – Quoted prices for identical assets or liabilities in active markets. ● Level 2 – Quoted prices for identical or similar assets and liabilities in markets that are not active; or other model-derived valuations whose inputs are directly or indirectly observable or whose significant value drivers are observable. ● Level 3 – Valuations derived from valuation techniques in which one or more significant inputs to the valuation model are unobservable and for which assumptions are used based on management estimates. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. The carrying amounts of certain cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and amounts due to related parties approximate fair value due to the short-term nature of these instruments. The fair value of lease obligations is determined using discounted cash flows based on the expected amounts and timing of the cash flows discounted using a market rate of interest adjusted for appropriate credit risk. The contingent liabilities assumed on the acquisition of Somah (Note 4) consist of present values of royalty payments, performance warrants and pediatric voucher warrants, future rare pediatric voucher sales, and liquidation preference. Management measured these contingencies in accordance with Level 3 of the fair value hierarchy. i. The performance warrants and pediatric vouchers warrants liabilities were valued using a Monte Carlo simulation model utilizing the following weighted average assumptions: risk free rate of 1.19 %, expected volatility of 69.62 %, expected dividend of $ 0 , and expected life of 6.21 years . For the three and nine months ended September 30, 2021, changes in these assumptions resulted in $ 574,000 1,870,000 decrease in fair value of these liabilities, respectively. At September 30, 2021 the fair market value of performance warrants and pediatric vouchers warrants liabilities was $ 2,899,000 ii. The present value of royalty payments was measured using the scenario-based methodology. In assessing the value attributed to the royalty payments, the estimated future cash flows were discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the revenue from net sales of the product. The cash flows derived from the Company’s fifteen-year strategic plan are based on managements’ expectations of market growth, industry reports and trends, and past performances. These projections are inherently uncertain due to the evolving impact of the COVID-19 pandemic. The discounted cash flow model included projections surrounding revenue, discount rates, and growth rates. The discount rates used to calculate the present value of royalty payments reflect specific risks of the Company and market conditions and the mid-range was estimated at 20.6 %. For the three and nine months ended September 30, 2021, changes in these assumptions resulted in $ 380,000 1,396,000 increase in fair value of these liabilities, respectively. At September 30, 2021 the fair market value of royalty payments was $ 3,582,000 iii. Rare pediatric voucher sales liability was valued based on the scenario-based methodology where the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset – 20.6%. For the three and nine months ended September 30, 2021, changes in these assumptions resulted in $ Nil 2,000 increase in fair value of this liability, respectively. At September 30, 2021 the fair market value of rare pediatric vouchers was $ 1,150,000 iv. The present value of liquidation preference liability, included in the contingent consideration, was determined using the Black-Scholes option pricing method and represents the fair value of the maximum payment amount according to the Agreement. The following assumptions were used in the Black-Scholes option pricing model: risk free rate of 0.21 %, expected volatility of 78.93 %, expected dividend of $ 0 , and expected life of 5 years. No changes to the fair value of liquidation preference liability were recorded in the three and nine months ended September 30, 2021. At September 30, 2021 the fair market value of liquidation preference was $ 1,823,000 The derivative liabilities consisted of optional and automatic conversion features and the share redemption feature attached to the convertible notes, issued pursuant to the Unit Purchase Agreement (Note 9). The Company has no financial assets measured at fair value on a recurring basis. None of the Company’s non-financial assets or liabilities are recorded at fair value on a non-recurring basis. No transfers between levels have occurred during the periods presented. Marizyme measures the following financial instruments at fair value on a recurring basis. As at September 30, 2021, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS Fair Value Hierarchy September 30, 2021 Level 1 Level 2 Level 3 December 31, 2020 Liabilities Derivative liabilities $ - $ - $ 391,648 $ - Contingent liabilities - - 9,454,000 - Total $ - $ - $ 9,845,648 $ - The following table provides a rollforward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE September 30, 2021 Contingent Liabilities Balance at December 31, 2020 - Derivative liabilities $ 391,648 Initial valuation of contingent liabilities in connection with the Somah acquisition 1 9,926,000 Change in fair value of contingent liabilities (472,000 ) Balance at September 30, 2021 $ 9,845,648 1 Measured as at Somah acquisition date of July 31, 2020, see Note 4. Intangible Assets and Goodwill Intangible assets are recorded at cost less accumulated amortization and accumulated impairment losses. Intangible assets acquired as a result of an acquisition or in a business combination are measured at fair value at the acquisition date. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortized over the estimated useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimates being accounted for on a prospective basis. Goodwill represents the excess of the purchase price paid for the acquisition of subsidiaries over the fair value of the net assets acquired. Following the initial recognition, goodwill is measured at cost less any accumulated impairment losses. In-Process Research and Development The Company evaluates whether acquired intangible assets are a business under applicable accounting standards. Additionally, the Company evaluates whether the acquired assets have a future alternative use. Intangible assets that do not have future alternative use are considered acquired in-process research and development. When the acquired in-process research and development assets are not part of a business combination, the value of the consideration paid is expensed on the acquisition date. Future costs to develop these assets are recorded to research and development expense as they are incurred. Impairment of Long-Lived Assets The Company reviews long-lived assets, including property, plant and equipment, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than the carrying amount. The impairment loss, if recognized, would be based on the excess of the carrying value of the impaired asset over its respective fair value. No Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker in making decisions on how to allocate resources and assess performance. The Company views its operations and manages its business as one Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common stock equivalents outstanding for the period determined using the treasury-stock and if-converted methods. Dilutive common stock equivalents are comprised of unvested common stock, options and warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities (warrants, stock options, and common shares subject to repurchase) would be antidilutive. Recently Adopted Accounting Standards There are no recently adopted accounting standards and recent accounting standards not yet adopted that the Company believes will have a material impact on the Company’s unaudited condensed consolidated financial statements. Recently Issued Accounting Pronouncements The Company assesses the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board or other standard setting bodies on the Company’s financial statements as well as material updates to previous assessments, if any, from the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There were no new material accounting standards issued in the nine months ended September 30, 2021, that impacted the Company. COVID-19 Since December 31, 2019, the outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and physical distancing, have caused material disruptions to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company in future periods. Marizyme continues to maintain business continuity during the COVID-19 pandemic and takes its cues from the U.S. government and public health officials to keep employees and business partners safe and healthy. Although the financial results for three and nine months ended September 30, 2021 were not significantly impacted by COVID-19, Marizyme experienced decrease in sales due to a slow-down in the product manufacturing. During 2021, Marizyme’s business partners were focused on addressing specific manufacturing needs of the U.S. government in battling COVID-19 pandemic. Additionally, during 2021, demand for elective surgeries have decreased due to overloaded medical systems and potential risks related to patients’ recovery during the pandemic. The Company cannot predict the impact of the progression of COVID-19 on future results or the Company’s ability to raise capital due to a variety of factors, including but not limited to the continued good health of Company employees, the ability of suppliers to continue to operate and deliver, the ability of the Company to maintain operations, any further government and/or public actions taken in response to the pandemic and ultimately the length of the pandemic.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	NOTE 4 – ACQUISITIONS DuraGraft® On December 15, 2019, the Company entered into a contingent asset purchase agreement (the “Agreement”), as amended on March 31, 2020 and May 29, 2020, with Somahlution, LLC, Somahlution, Inc., and Somaceutica, LLC, companies duly organized under the laws of Delaware (collectively, “Somah” or “Seller”) to acquire all of the assets and none of the liabilities of Somah (the “Acquisition”), including DuraGraft®, a one-time intraoperative vascular graft treatment for use in vascular and bypass surgeries that maintains endothelial function and structure, and other related properties. On July 31, 2020, the Company and Somah entered into Amendment No. 3 to the Agreement and the Agreement was finalized. Pursuant to the terms of this amendment, it was agreed that, as part of the Acquisition, the Company would acquire the outstanding capital stock of Somahlution, Inc., held by Somahlution, LLC, rather than the assets of Somahlution, Inc. This change to the Agreement was made to accommodate the European Union (“EU”) requirements with respect to the future manufacturing under Somahlution, Inc. of CE marked products for sale in the EU. In Amendment No. 3, the Company agreed to assume certain payables of Somah related to clinical and medical expenses. It was agreed that the payments on the assumed debts would be recorded as a prepaid royalty against future royalties. As of September 30, 2021 and December 31, 2020, prepaid royalties were $ 340,969 344,321 Pursuant to the Agreement and in consideration of the outstanding capital stock of Somahlution, Inc., the Company agreed to issue to Somah: ● 10 ,000,000 ● Warrants to purchase 3,000,000 5.00 five years ● The Company, on a pro rata basis, shall grant the Seller the following contingent consideration upon receiving the FDA final approval and insurance reimbursement approval on the product: ○ Grant of performance warrants for 4,000,000 ○ Royalties to be paid on all net sales of the product acquired from Somah of 6 50 5 50 4 50 200 2 200 ○ Payment of 10% of cash value of the rare pediatric voucher sales following the FDA approval and subsequent sale to an unaffiliated third party of a rare pediatric voucher based on Somah’s DuraGraft product; ○ Grant of rare pediatric voucher warrants to purchase an aggregate of 250,000 ○ Liquidation preference, up to a maximum of $ 20 On July 30, 2020, the Company completed the acquisition of Somah (the “Somah Transaction”). The acquisition of Somah provides the Company with access to DuraGraft and other related intangible assets, which upon approval by FDA, will further the Company’s continued growth and international-wide product rollout. In accordance with ASC 805-10 the substance of a transaction constitutes a business combination as the business of Somah meets the definition of a business under the standard. Accordingly, the transaction was accounted for in accordance with the acquisition method of accounting, and the assets acquired, and the liabilities assumed have been recorded at their respective estimated fair values as of the acquisition date. The purchase price is based on management’s estimate of fair value of the common shares and warrants issued as well as contingent consideration and liquidation preference given up. The final allocation of the purchase price consideration to the assets acquired and liabilities assumed has been completed and finalized. Details of the carrying amount and the fair value of identifiable assets and liabilities acquired and purchase consideration paid are as follows: SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION Consideration Common shares $ 12,500,000 Warrants 1,200,000 Contingent consideration 1 9,926,000 Total consideration $ 23,626,000 Fair value of identifiable assets acquired, and liabilities assumed Net working capital $ 30,908 Property, plant, and equipment 9,092 Intangible assets 18,170,000 Goodwill 5,416,000 Total identifiable assets $ 23,626,000 1 Contingent consideration, for the purposes of the final allocation of the purchase price consideration, was measured as at the date of Somah acquisition – July 31, 2020. During the nine months ended September 30, 2021, the fair market value of the contingent liabilities, measured in accordance with Level 3 of the fair value hierarchy, has decreased by $ 472,000 The intangible assets acquired include: ● DuraGraft patent, with estimated remaining economic life of 13 years, ● “Distribution relationships” intangible asset related to DuraGraft products, with estimated remaining economic life of 10 years, and ● In-process research and development intangible asset – “Cyto Protectant Life Sciences” with indefinite economic life. Goodwill is attributed to the workforce and profitability of the acquired business and is not deductible for tax purposes. A residual method methodology was used to estimate the fair market value goodwill. A pre-tax discount rate based on weighted average cost of capital of 33.8 Pro-forma revenue, net income, and earnings per share are not presented for this acquisition as they are not material.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
Leases
LEASES	NOTE 5 – LEASES On December 11, 2020, the Company entered into a 5.5 10,817 2.5 12,000 4.67 The assets and liabilities from the lease were recognized at the lease commencement date based on the present value of remaining lease payments over the lease term using the discount rate of 3.95 The total rent expense for the three months ended September 30, 2021 and 2020 was approximately $ 77,357 Nil 168,769 Nil The following table summarizes supplemental balance sheet information related to the operating lease as of September 30, 2021 and December 31, 2020. SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITY September 30, 2021 December 31, 2020 Right-of-use asset $ 1,163,159 $ 1,317,830 Operating lease liabilities, current $ 260,106 $ 243,292 Operating lease liabilities, non-current 941,732 1,074,538 Total operating lease liabilities $ 1,201,838 $ 1,317,830 As at September 30, 2021, the maturities of the lease liabilities for the periods ended December 31 were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES 2021 $ 52,249 2022 277,142 2023 277,142 2024 277,142 2025 277,142 Thereafter 130,950 Total lease payments 1,291,767 Total lease payments 1,291,767 Less: present value discount (89,929 ) Total $ 1,201,838

PROPERTY, PLANT AND EQUIPMENT,

PROPERTY, PLANT AND EQUIPMENT, NET	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT, NET	NOTE 6 – PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, summarized by major category, stated at cost, less accumulated depreciation at September 30, 2021 and December 31, 2020 consisted of the following: SCHEDULE OF PROPERTY PLANT & EQUIPMENT September 30, 2021 December 31, 2020 Furniture and equipment $ 701 $ 701 Computer related 7,220 7,220 Machinery and equipment 1,171 1,171 Total $ 9,092 $ 9,092 Less: accumulated amortization (7,819 ) (1,970 ) Property, plant and equipment, net $ 1,273 $ 7,122 Depreciation expense for the three months ended September 30, 2021 and 2020 was $ 1,425 1,313 5,849 1,313

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 7 – INTANGIBLE ASSETS Krillase As part of the asset acquisition of ACB Holding AB, Reg. No. 559119-5762, completed on September 12, 2018, Marizyme acquired all rights, titles, and interest in the Krillase technology, a group of intangible assets worth $ 28,600,000 The Company anticipates Krillase being placed into service in 2023. The Company has evaluated this asset for impairment and has determined that due to COVID-19 delaying the next steps for roll out of this technology, along with the associated value of the research and development, the status of the clinical trials, and other pertinent proprietary technology, there is no impairment required. DuraGraft As part of Somah acquisition (Note 4), Marizyme purchased $ 18,170,000 SUMMARY OF INTANGIBLE ASSETS AMORTIZATION EXPENSE September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Krillase intangible assets $ 28,600,000 $ - $ 28,600,000 $ 28,600,000 $ - $ 28,600,000 DuraGraft patent 5,256,000 (471,691 ) 4,784,309 14,147,729 (589,489 ) 13,558,240 Distributor relationship 308,000 (35,933 ) 272,067 - - - IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 - - - Patents in process 122,745 - 122,745 119,971 - 119,971 Total intangibles $ 46,892,745 $ (507,624 ) $ 46,385,121 $ 42,867,700 $ (589,489 ) $ 42,278,211 The following changes to the Company’s intangible assets had taken place in the periods indicated: SCHEDULE OF INTANGIBLE ASSETS Balance, December 31, 2019 $ 28,613,000 Acquired in asset purchase agreement 14,147,729 Additions 106,971 Amortization expense (589,489 ) Balance, December 31, 2020 42,278,211 Acquired in Somah Transaction 1 4,022,271 Additions 2,775 Amortization expense 1 81,864 Balance, September 30, 2021 $ 46,385,121 1 To account for Somah Transaction measurement period adjustments, the Company restated the Quarterly Report on Form 10-Q for the three and six month ended June 30, 2021, originally filed on August 23, 2021. As a result of the restatement, the value of DuraGraft intangibles purchased with the Somah Transaction increased by $ 4,022,271 898,026 The Company has recorded amortization expense of $ 108,777 326,331 341,270 Future amortizations for DuraGraft related intangible assets for the next five years will be $ 435,108 for each year from 2021 through 2026 and $ 2,880,836 for 2027 and thereafter. Amortization related to in process research and development will be determined upon the Company achieving commercialization.

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 8 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses, summarized by major category, as of September 30, 2021 and December 31, 2020 consists of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES September 30, 2021 December 31, 2020 Trade accounts payable $ 1,117,517 $ 325,830 Accrued expenses 180,846 21,555 Accrued compensation expenses 98,582 130,718 Total accounts payable and accrued expenses $ 1,396,945 $ 478,103

CONVERTIBLE PROMISSORY NOTES AN

CONVERTIBLE PROMISSORY NOTES AND WARRANTS	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
CONVERTIBLE PROMISSORY NOTES AND WARRANTS	NOTE 9 - CONVERTIBLE PROMISSORY NOTES AND WARRANTS On May 27, 2021, the Company entered into a Unit Purchase Agreement (“Unit Purchase Agreement”) to sell up to 4,000,000 2.50 Each Unit is comprised of (i) a convertible promissory note (the “Convertible Note”) convertible into common stock of the Company at a price per share of $2.50, (ii) a warrant to purchase one share of common stock of the Company (the ‘Class A Warrant’); and (iii) a second warrant to purchase common stock of the Company (the “Class B Warrant”). In May 2021, the Company issued and sold 29,978 2.50 74,945 74,945 29,978 29,978 6,745 In July 2021, the Company issued and sold 440,000 1,100,000 1,100,000 440,000 440,000 99,000 On September 29, 2021, the Company, with the consent of all Unit holders, amended the May 2021 Unit Agreements. By rescinding their investment, the Unit holders agreed to amend the Unit Purchase Agreement resulted in the following changes to the offering: (i) Decreased the offering price under the Unit Purchase Agreement from $ 2.50 2.25 (ii) Decreased the conversion price from $ 2.50 2.25 (iii) Cancelled all Class A Warrants and Class B Warrants and replaced them with Class C Warrants. The Company determined that the modifications of Unit Purchase Agreement were not significant enough to be considered substantial, therefore the values of original instruments issued were not adjusted. As a result of this modification, the total of 469,978 522,198 The Company determined that the optional and automatic conversion feature and the share redemption feature attached to the convertible notes meet the definition of derivative liabilities and that the detachable warrants issued do not meet the definition of a liability and therefore will be accounted for as an equity instrument. The initial $ 571,807 fair value of the warrants and $ 391,648 fair value of derivative liabilities issued have been recorded as debt discount and are being amortized to interest and accretion expense using the effective interest method over the term of the Convertible Notes. SCHEDULE OF CONVERTIBLE NOTES September 30, 2021 December 31, 2020 Convertible notes issued $ 1,174,945 $ - Issuance costs (105,745 ) - Debt discount (964,153 ) - Debt accretion 74,410 - Convertible notes, net of debt discount $ 179,457 $ - During the three and nine months ended September 30, 2021, the Company recognized interest and accretion expense of $ 70,221 and $ 74,410 , respectively (September 30, 2020 - $ Nil and $ Nil ) in the condensed consolidated statements of operations. Convertible Notes Terms The Convertible Notes mature in 24 months from the initial closing date and accrue 10 The Convertible Notes principal and accrued interest can be converted at any time at the option of the holder at a conversion price of $2.25 per share (before the modification - $2.50 per share) 10,000,000 75 2.25 Warrants Terms Class A ● Exercise price is the lower of (i) $ 3.13 75 2.50 ● Exercisable for a period of 5 ● Warrant Coverage: 100 Class B ● Exercise price is $ 5.00 ● Exercisable for a period of 5 ● Warrant Coverage: 100 Class C ● Exercise price is the lower of (i) $ 2.25 75 2.25 ● Exercisable for a period of 5 ● Warrant Coverage: 200

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 10 – STOCKHOLDERS’ EQUITY a) Preferred stock The Company is authorized to issue a total number of 25,000,000 0.001 no b) Common stock The Company is authorized to issue a total number of 75,000,000 0.001 As of September 30, 2021 and December 31, 2020, there were 35,928,188 c) Options On January 13, 2021, the Board of Directors approved the Marizyme’s 2021 Stock Incentive Plan (“SIP”). The SIP incorporates stock options issued prior to January 13, 2021. The SIP authorized 5,300,000 1,527,183 During the nine months ended September 30, 2021, the company granted 732,500 1,340,000 SCHEDULE OF SHARE BASED STOCK OPTION VALUATION ASSUMPTIONS 2021 2020 Risk-free interest rate 0.69 % 0.93 % Volatility 232.69 % 241.88 % Exercise price $ 1.25 $ 1.37 Dividend yield 0 % 0 % Forfeiture rate 0 % 0 % Expected life (years) 3 10 The Company recognizes forfeitures as they occur. The summary of option activity for the nine months ended September 30, 2021 is as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Weighted Total Intrinsic Outstanding at December 31, 2019 2,715,000 $ 1.50 9.48 $ N/A 1 Granted 1,340,000 1.25 Exercised (254,057 ) 1.02 Outstanding at December 31, 2020 3,800,943 $ 1.36 8.82 $ 123,600 Granted 732,500 1.25 Forfeited (760,626 ) 1.25 Outstanding at September 30, 2021 3,772,817 $ 1.37 8.13 $ 97,850 Exercisable at September 30, 2021 3,074,476 $ 1.39 3.77 $ 97,850 1 d) Warrants The warrant activity for the periods presented is as follows: Schedule of Options Outstanding and Issued Number Weighted Average December 30, 2019 113,637 $ 3.00 Issued on Somah acquisition (Note 4) 3,000,000 5.00 Issued 280,014 1.38 December 30, 2020 3,393,651 $ 2.13 Issued 1,044,396 2.25 September 30, 2021 4,438,047 $ 2.16 During the three and nine months ended September 30, 2021, the Company issued the following: On May 27, 2021, pursuant to the Unit Purchase Agreement (Note 9) the Company issued Class A Warrants for the purchase of 29,978 29,978 3.13 five years 5.00 five years In July 2021 pursuant to the May Unit Purchase Agreement the Company issued Class A Warrants for 440,000 440,000 On September 29, 2021, pursuant to the modification to the Unit Purchase Agreement as described in Note 9, all Class A and Class B warrants were replaced with an aggregate of 1,044,396 pro-rata Class C warrants. The warrants have a strike price of 2.25 per share and a term of five years . The detachable warrants issued were accounted for as an equity instrument and were ascribed the fair market value of $571,807 using the residual fair value allocation method. During the year end December 31, 2020, the Company issued the following: On July 31, 2020, the Company completed the Somah Acquisition (Note 4) whereas 10,000,000 3,000,000 5.00 five years 0.40 1,200,000 On September 25, 2020, the Company issued two warrants for services. The warrants were to purchase for 168,008 112,006 1.375 five years 0.9062 152,249 101,500 253,749 e) Stock-based compensation During the three and nine month ended September 30, 2021, the Company recorded $ 64,074 and $ 593,116 , respectively, in non-cash share-based compensation (September 30, 2020 - $ 1,107,085 and $ 1,674,200 respectively). Additionally, the Company recognized $ 33,333 of stock-based compensation on restricted common stock in the nine months ended September 30, 2021. As of September 30, 2021, the Company had $ 652,932 2.44

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 11 – RELATED PARTY TRANSACTIONS As at September 30, 2021, the Company owed an aggregate of $ 638,530 Nil i. During the three months ended September 30, 2021, the Company entered into a promissory note agreement with a related party of the Company, for the total proceeds of $ 151,000 ii. During the nine months ended September 30, 2021, the Company entered into another promissory note agreement with a related party and shareholder of the Company, for the total proceeds of $ 215,000 iii. The Company received consulting services from a shareholder and consultant of the Company, and pursuant to the agreement incurred $ 30,000 270,000 90,000 2,530 272,530 Nil Additionally, as part of the Somah transaction in 2020 (Note 4), the Company recorded a prepaid royalty to the shareholders of Somahlution. The primary beneficial owner is Dr. Vithal Dhaduk, currently the Interim CEO, a director, and significant shareholder of the Company. As at September 30, 2021, the company had $ 340,969 344,321

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 12 – COMMITMENTS AND CONTINGENCIES Legal Matters The Interim CEO of Marizyme, Dr. Vithal D. Dhaduk, also, a co-founder of Somahlution, LLC (“Dhaduk”), was the subject of a complaint filed in the United States District Court, Middle District of Pennsylvania, Civil Action No. 3:17 cv 02243 in December 2017 by Mukeshkkumar B. Patel (“Patel”), a former business partner of Dhaduk, which complaint made claims of breach of contract, promissory estoppel and unjust enrichment regarding a Memorandum of Understanding, dated July 16, 2015, between Patel and Dhaduk (“MOU”). The MOU provided that Dhaduk would pay Patel $9,450,000 as consideration for Patel’s agreement to, among other things, (i) exit certain legal entities that were purportedly jointly owned by certain affiliates of Dhaduk and Patel, including Somahlution LLC, and (ii) relinquish his ownership interests in such entities. On December 2, 2019, the court granted Patel’s motion for summary judgment on his breach of contract claim. The complaint was settled between Dhaduk and Patel in the nine months ended September 30, 2021, with no financial impact to the Company. Contingencies a. On July 13, 2019, the Company signed a consulting agreement, whereby the individual will receive: ● $ 30,000 ● Option to purchase 250,000 1.50 ● Royalties based on sales of Krillase assets, equal to 10 b. As part of the DuraGraft Acquisition, completed on July 31, 2020 (Note 4), the Company entered into the Agreement with Somah stockholders, whereby Marizyme is legally obligated to pay royalties on all net sales for Somahlution, Inc. The royalties associated with the Agreement are calculated as follows: Royalties on U.S. sales equal to: ● 5 ● 4 ● 2 Royalties on sales outside of the U.S.: ● 6 ● 4 ● 2 The royalties are in perpetuity. As at September 30, 2021, the Company had not earned any revenues from Krillase and did not have any sales of the DuraGraft products in U.S., therefore no royalties have been accrued or paid in the period. c. The Company has entered into arrangements for office and laboratories spaces. As at September 30, 2021, minimum lease payments in relation to lease commitments are payable as described in Note 5.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 13 - SUBSEQUENT EVENT On November 1, 2021, Marizyme entered into a definitive arrangement agreement with Health Logic Interactive Inc. (“HLII”) pursuant to which the Company will acquire My Health Logic Inc., a wholly-owned subsidiary of HLII (the “Transaction”). The Transaction will be effected by way of a plan of arrangement under the Business Corporations Act (British Columbia). In connection with the plan of arrangement, Marizyme will issue an aggregate of 4,600,000 The acquisition is subject to, among other things, the approval of the Supreme Court of British Columbia, the approval of the NEX board of the TSX Venture Exchange, and requires the approval of at least two-thirds of the votes cast by HLII shareholders at the upcoming annual and special meeting of HLII shareholders. The Transaction is expected to close in December 2021.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries, Somahlution, Inc. (“Somahlution”), Somaceutica, Inc. (“Somaceutica”) and Marizyme Sciences, Inc. (“Marizyme Sciences”). All intercompany transactions have been eliminated on consolidation. The accompanying unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The unaudited condensed consolidated financial statements presented in this Quarterly Report should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K filed with the SEC on April 15, 2021 (the “2020 Form 10-K”). The balance sheet as of December 31, 2020 was derived from audited consolidated financial statements included in the 2020 Form 10-K but does not include all disclosures required by U.S. GAAP for complete financial statements. The Company’s significant accounting policies are described in Note 3 to those consolidated financial statements. Interim results may not be indicative of the results that may be expected for the full year. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from these interim financial statements. The unaudited condensed consolidated financial statements reflect all adjustments which in the opinion of management are necessary for a fair statement of results of operations, financial condition, cash flows and stockholders’ equity for the periods presented. Except as otherwise disclosed, all such adjustments are of a normal recurring nature.
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make use of certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported periods. The Company bases its estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Significant estimates are related to the allocation of the purchase price in a business combination to the underlying assets and liabilities, recoverability of long-term assets including intangible assets and goodwill, amortization expense, valuation of warrants, stock-based compensation, derivative liabilities, contingent liabilities and deferred tax valuations.
Fair Value Measurements	Fair Value Measurements The Company uses the fair value hierarchy to measure the value of its financial instruments. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources, while unobservable inputs reflect a reporting entity’s pricing based upon its own market assumptions. The basis for fair value measurements for each level within the hierarchy is described below: ● Level 1 – Quoted prices for identical assets or liabilities in active markets. ● Level 2 – Quoted prices for identical or similar assets and liabilities in markets that are not active; or other model-derived valuations whose inputs are directly or indirectly observable or whose significant value drivers are observable. ● Level 3 – Valuations derived from valuation techniques in which one or more significant inputs to the valuation model are unobservable and for which assumptions are used based on management estimates. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. The carrying amounts of certain cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and amounts due to related parties approximate fair value due to the short-term nature of these instruments. The fair value of lease obligations is determined using discounted cash flows based on the expected amounts and timing of the cash flows discounted using a market rate of interest adjusted for appropriate credit risk. The contingent liabilities assumed on the acquisition of Somah (Note 4) consist of present values of royalty payments, performance warrants and pediatric voucher warrants, future rare pediatric voucher sales, and liquidation preference. Management measured these contingencies in accordance with Level 3 of the fair value hierarchy. i. The performance warrants and pediatric vouchers warrants liabilities were valued using a Monte Carlo simulation model utilizing the following weighted average assumptions: risk free rate of 1.19 %, expected volatility of 69.62 %, expected dividend of $ 0 , and expected life of 6.21 years . For the three and nine months ended September 30, 2021, changes in these assumptions resulted in $ 574,000 1,870,000 decrease in fair value of these liabilities, respectively. At September 30, 2021 the fair market value of performance warrants and pediatric vouchers warrants liabilities was $ 2,899,000 ii. The present value of royalty payments was measured using the scenario-based methodology. In assessing the value attributed to the royalty payments, the estimated future cash flows were discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the revenue from net sales of the product. The cash flows derived from the Company’s fifteen-year strategic plan are based on managements’ expectations of market growth, industry reports and trends, and past performances. These projections are inherently uncertain due to the evolving impact of the COVID-19 pandemic. The discounted cash flow model included projections surrounding revenue, discount rates, and growth rates. The discount rates used to calculate the present value of royalty payments reflect specific risks of the Company and market conditions and the mid-range was estimated at 20.6 %. For the three and nine months ended September 30, 2021, changes in these assumptions resulted in $ 380,000 1,396,000 increase in fair value of these liabilities, respectively. At September 30, 2021 the fair market value of royalty payments was $ 3,582,000 iii. Rare pediatric voucher sales liability was valued based on the scenario-based methodology where the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset – 20.6%. For the three and nine months ended September 30, 2021, changes in these assumptions resulted in $ Nil 2,000 increase in fair value of this liability, respectively. At September 30, 2021 the fair market value of rare pediatric vouchers was $ 1,150,000 iv. The present value of liquidation preference liability, included in the contingent consideration, was determined using the Black-Scholes option pricing method and represents the fair value of the maximum payment amount according to the Agreement. The following assumptions were used in the Black-Scholes option pricing model: risk free rate of 0.21 %, expected volatility of 78.93 %, expected dividend of $ 0 , and expected life of 5 years. No changes to the fair value of liquidation preference liability were recorded in the three and nine months ended September 30, 2021. At September 30, 2021 the fair market value of liquidation preference was $ 1,823,000 The derivative liabilities consisted of optional and automatic conversion features and the share redemption feature attached to the convertible notes, issued pursuant to the Unit Purchase Agreement (Note 9). The Company has no financial assets measured at fair value on a recurring basis. None of the Company’s non-financial assets or liabilities are recorded at fair value on a non-recurring basis. No transfers between levels have occurred during the periods presented. Marizyme measures the following financial instruments at fair value on a recurring basis. As at September 30, 2021, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS Fair Value Hierarchy September 30, 2021 Level 1 Level 2 Level 3 December 31, 2020 Liabilities Derivative liabilities $ - $ - $ 391,648 $ - Contingent liabilities - - 9,454,000 - Total $ - $ - $ 9,845,648 $ - The following table provides a rollforward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE September 30, 2021 Contingent Liabilities Balance at December 31, 2020 - Derivative liabilities $ 391,648 Initial valuation of contingent liabilities in connection with the Somah acquisition 1 9,926,000 Change in fair value of contingent liabilities (472,000 ) Balance at September 30, 2021 $ 9,845,648 1 Measured as at Somah acquisition date of July 31, 2020, see Note 4.
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets are recorded at cost less accumulated amortization and accumulated impairment losses. Intangible assets acquired as a result of an acquisition or in a business combination are measured at fair value at the acquisition date. The useful lives of intangible assets are assessed as either finite or indefinite. Intangible assets with finite lives are amortized over the estimated useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The estimated useful life and amortization method are reviewed at the end of each reporting period, with the effect of any changes in estimates being accounted for on a prospective basis. Goodwill represents the excess of the purchase price paid for the acquisition of subsidiaries over the fair value of the net assets acquired. Following the initial recognition, goodwill is measured at cost less any accumulated impairment losses.
In-Process Research and Development	In-Process Research and Development The Company evaluates whether acquired intangible assets are a business under applicable accounting standards. Additionally, the Company evaluates whether the acquired assets have a future alternative use. Intangible assets that do not have future alternative use are considered acquired in-process research and development. When the acquired in-process research and development assets are not part of a business combination, the value of the consideration paid is expensed on the acquisition date. Future costs to develop these assets are recorded to research and development expense as they are incurred.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company reviews long-lived assets, including property, plant and equipment, for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than the carrying amount. The impairment loss, if recognized, would be based on the excess of the carrying value of the impaired asset over its respective fair value. No
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision maker in making decisions on how to allocate resources and assess performance. The Company views its operations and manages its business as one
Net Loss Per Share	Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss by the weighted-average number of common shares and dilutive common stock equivalents outstanding for the period determined using the treasury-stock and if-converted methods. Dilutive common stock equivalents are comprised of unvested common stock, options and warrants. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding as inclusion of the potentially dilutive securities (warrants, stock options, and common shares subject to repurchase) would be antidilutive.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards There are no recently adopted accounting standards and recent accounting standards not yet adopted that the Company believes will have a material impact on the Company’s unaudited condensed consolidated financial statements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The Company assesses the adoption impacts of recently issued accounting standards by the Financial Accounting Standards Board or other standard setting bodies on the Company’s financial statements as well as material updates to previous assessments, if any, from the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There were no new material accounting standards issued in the nine months ended September 30, 2021, that impacted the Company.
COVID-19	COVID-19 Since December 31, 2019, the outbreak of the novel strain of coronavirus, specifically identified as “COVID-19”, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and physical distancing, have caused material disruptions to businesses globally resulting in an economic slowdown. Global equity markets have experienced significant volatility and weakness. The duration and impact of the COVID-19 outbreak is unknown at this time, as is the efficacy of the government and central bank interventions. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Company in future periods. Marizyme continues to maintain business continuity during the COVID-19 pandemic and takes its cues from the U.S. government and public health officials to keep employees and business partners safe and healthy. Although the financial results for three and nine months ended September 30, 2021 were not significantly impacted by COVID-19, Marizyme experienced decrease in sales due to a slow-down in the product manufacturing. During 2021, Marizyme’s business partners were focused on addressing specific manufacturing needs of the U.S. government in battling COVID-19 pandemic. Additionally, during 2021, demand for elective surgeries have decreased due to overloaded medical systems and potential risks related to patients’ recovery during the pandemic. The Company cannot predict the impact of the progression of COVID-19 on future results or the Company’s ability to raise capital due to a variety of factors, including but not limited to the continued good health of Company employees, the ability of suppliers to continue to operate and deliver, the ability of the Company to maintain operations, any further government and/or public actions taken in response to the pandemic and ultimately the length of the pandemic.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS	Marizyme measures the following financial instruments at fair value on a recurring basis. As at September 30, 2021, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS Fair Value Hierarchy September 30, 2021 Level 1 Level 2 Level 3 December 31, 2020 Liabilities Derivative liabilities $ - $ - $ 391,648 $ - Contingent liabilities - - 9,454,000 - Total $ - $ - $ 9,845,648 $ -

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]
SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION	Details of the carrying amount and the fair value of identifiable assets and liabilities acquired and purchase consideration paid are as follows: SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION Consideration Common shares $ 12,500,000 Warrants 1,200,000 Contingent consideration 1 9,926,000 Total consideration $ 23,626,000 Fair value of identifiable assets acquired, and liabilities assumed Net working capital $ 30,908 Property, plant, and equipment 9,092 Intangible assets 18,170,000 Goodwill 5,416,000 Total identifiable assets $ 23,626,000 1 Contingent consideration, for the purposes of the final allocation of the purchase price consideration, was measured as at the date of Somah acquisition – July 31, 2020. During the nine months ended September 30, 2021, the fair market value of the contingent liabilities, measured in accordance with Level 3 of the fair value hierarchy, has decreased by $ 472,000

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Leases
SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITY	The following table summarizes supplemental balance sheet information related to the operating lease as of September 30, 2021 and December 31, 2020. SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITY September 30, 2021 December 31, 2020 Right-of-use asset $ 1,163,159 $ 1,317,830 Operating lease liabilities, current $ 260,106 $ 243,292 Operating lease liabilities, non-current 941,732 1,074,538 Total operating lease liabilities $ 1,201,838 $ 1,317,830
SCHEDULE OF MATURITIES OF LEASE LIABILITIES	As at September 30, 2021, the maturities of the lease liabilities for the periods ended December 31 were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES 2021 $ 52,249 2022 277,142 2023 277,142 2024 277,142 2025 277,142 Thereafter 130,950 Total lease payments 1,291,767 Total lease payments 1,291,767 Less: present value discount (89,929 ) Total $ 1,201,838

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY PLANT & EQUIPMENT	Property, plant and equipment, summarized by major category, stated at cost, less accumulated depreciation at September 30, 2021 and December 31, 2020 consisted of the following: SCHEDULE OF PROPERTY PLANT & EQUIPMENT September 30, 2021 December 31, 2020 Furniture and equipment $ 701 $ 701 Computer related 7,220 7,220 Machinery and equipment 1,171 1,171 Total $ 9,092 $ 9,092 Less: accumulated amortization (7,819 ) (1,970 ) Property, plant and equipment, net $ 1,273 $ 7,122

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
SUMMARY OF INTANGIBLE ASSETS AMORTIZATION EXPENSE	As part of Somah acquisition (Note 4), Marizyme purchased $ 18,170,000 SUMMARY OF INTANGIBLE ASSETS AMORTIZATION EXPENSE September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Krillase intangible assets $ 28,600,000 $ - $ 28,600,000 $ 28,600,000 $ - $ 28,600,000 DuraGraft patent 5,256,000 (471,691 ) 4,784,309 14,147,729 (589,489 ) 13,558,240 Distributor relationship 308,000 (35,933 ) 272,067 - - - IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 - - - Patents in process 122,745 - 122,745 119,971 - 119,971 Total intangibles $ 46,892,745 $ (507,624 ) $ 46,385,121 $ 42,867,700 $ (589,489 ) $ 42,278,211
SCHEDULE OF INTANGIBLE ASSETS	SCHEDULE OF INTANGIBLE ASSETS Balance, December 31, 2019 $ 28,613,000 Acquired in asset purchase agreement 14,147,729 Additions 106,971 Amortization expense (589,489 ) Balance, December 31, 2020 42,278,211 Acquired in Somah Transaction 1 4,022,271 Additions 2,775 Amortization expense 1 81,864 Balance, September 30, 2021 $ 46,385,121 1 To account for Somah Transaction measurement period adjustments, the Company restated the Quarterly Report on Form 10-Q for the three and six month ended June 30, 2021, originally filed on August 23, 2021. As a result of the restatement, the value of DuraGraft intangibles purchased with the Somah Transaction increased by $ 4,022,271 898,026

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	Accounts payable and accrued expenses, summarized by major category, as of September 30, 2021 and December 31, 2020 consists of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES September 30, 2021 December 31, 2020 Trade accounts payable $ 1,117,517 $ 325,830 Accrued expenses 180,846 21,555 Accrued compensation expenses 98,582 130,718 Total accounts payable and accrued expenses $ 1,396,945 $ 478,103

CONVERTIBLE PROMISSORY NOTES _2

CONVERTIBLE PROMISSORY NOTES AND WARRANTS (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
SCHEDULE OF CONVERTIBLE NOTES	SCHEDULE OF CONVERTIBLE NOTES September 30, 2021 December 31, 2020 Convertible notes issued $ 1,174,945 $ - Issuance costs (105,745 ) - Debt discount (964,153 ) - Debt accretion 74,410 - Convertible notes, net of debt discount $ 179,457 $ -

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
SCHEDULE OF SHARE BASED STOCK OPTION VALUATION ASSUMPTIONS	SCHEDULE OF SHARE BASED STOCK OPTION VALUATION ASSUMPTIONS 2021 2020 Risk-free interest rate 0.69 % 0.93 % Volatility 232.69 % 241.88 % Exercise price $ 1.25 $ 1.37 Dividend yield 0 % 0 % Forfeiture rate 0 % 0 % Expected life (years) 3 10
SCHEDULE OF STOCK OPTION ACTIVITY	The summary of option activity for the nine months ended September 30, 2021 is as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Weighted Weighted Total Intrinsic Outstanding at December 31, 2019 2,715,000 $ 1.50 9.48 $ N/A 1 Granted 1,340,000 1.25 Exercised (254,057 ) 1.02 Outstanding at December 31, 2020 3,800,943 $ 1.36 8.82 $ 123,600 Granted 732,500 1.25 Forfeited (760,626 ) 1.25 Outstanding at September 30, 2021 3,772,817 $ 1.37 8.13 $ 97,850 Exercisable at September 30, 2021 3,074,476 $ 1.39 3.77 $ 97,850 1
Schedule of Options Outstanding and Issued	Schedule of Options Outstanding and Issued Number Weighted Average December 30, 2019 113,637 $ 3.00 Issued on Somah acquisition (Note 4) 3,000,000 5.00 Issued 280,014 1.38 December 30, 2020 3,393,651 $ 2.13 Issued 1,044,396 2.25 September 30, 2021 4,438,047 $ 2.16

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Retained Earnings (Accumulated Deficit)	$ 42,308,427	$ 36,825,634

SCHEDULE OF FAIR VALUES OF FINA

SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities
Contingent liabilities	$ 9,454,000
Total
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities
Contingent liabilities
Total
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities
Contingent liabilities
Total
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities	391,648
Contingent liabilities	9,454,000
Total	$ 9,845,648

RECONCILIATION OF LIABILITIES A

RECONCILIATION OF LIABILITIES AT FAIR VALUE (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Contingent liabilities beginning balance
Derivative Liability
Change in fair value of contingent liabilities		$ (194,000)		(472,000)
Contingent liabilities ending balance		9,454,000		9,454,000
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Contingent liabilities beginning balance
Derivative Liability		391,648		391,648
Valuation of contingent liabilites assumed	[1]			9,926,000
Change in fair value of contingent liabilities				(472,000)
Contingent liabilities ending balance		9,454,000		9,454,000
Fair Value, Inputs, Level 3 [Member] | Contingent Liability [Member]
Defined Benefit Plan Disclosure [Line Items]
Contingent liabilities ending balance		$ 9,845,648		$ 9,845,648
[1]	Measured as at Somah acquisition date of July 31, 2020, see Note 4.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	1 Months Ended		3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)Number
Product Information [Line Items]
Increase (Decrease) in Derivative Liabilities			$ 0	$ 2,000
Fair market value of performance warrants	$ 2,899,000			571,807
Fair market value of royalty payments		$ 3,582,000
Fair market value of rare pediatric vouchers	1,150,000	1,150,000	1,150,000	1,150,000
Fair market value of liquidation preference	$ 1,823,000	$ 1,823,000	1,823,000	1,823,000
Impairment of long-lived assets				$ 0
Number of Operating Segments | Number				1
Royalty [Member]
Product Information [Line Items]
Increase (Decrease) in Derivative Liabilities			380,000	$ 1,396,000
Monte Carlo Simulation Model [Member]
Product Information [Line Items]
Increase (Decrease) in Derivative Liabilities			$ 574,000	$ 1,870,000
Measurement Input, Risk Free Interest Rate [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	0.0021	0.0021	0.0021	0.0021
Measurement Input, Risk Free Interest Rate [Member] | Fair Value, Inputs, Level 3 [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	0.0119	0.0119	0.0119	0.0119
Measurement Input, Price Volatility [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	0.7893	0.7893	0.7893	0.7893
Measurement Input, Price Volatility [Member] | Fair Value, Inputs, Level 3 [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	0.6962	0.6962	0.6962	0.6962
Measurement Input, Expected Dividend Rate [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	0	0	0	0
Measurement Input, Expected Dividend Rate [Member] | Fair Value, Inputs, Level 3 [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	0	0	0	0
Measurement Input, Expected Term [Member]
Product Information [Line Items]
[custom:DerivativeLiabilityMeasurementInputTerm-0]	5 years	5 years	5 years	5 years
Measurement Input, Expected Term [Member] | Fair Value, Inputs, Level 3 [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	6.21	6.21	6.21	6.21
Measurement Input, Discount Rate [Member]
Product Information [Line Items]
Derivative Liability, Measurement Input	0.206	0.206	0.206	0.206

SCHEDULE OF PRELIMINARY ALLOCAT

SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION (Details) - USD ($)		9 Months Ended
		Sep. 30, 2021	Dec. 31, 2020
Business Combination and Asset Acquisition [Abstract]
Common shares		$ 12,500,000
Warrants		1,200,000
Contingent consideration	[1]	9,926,000
Total consideration		23,626,000
Net working capital		30,908
Property, plant and equipment		9,092
Intangibles assets		18,170,000
Goodwill		5,416,000
Total identifiable assets		$ 23,626,000
[1]	Contingent consideration, for the purposes of the final allocation of the purchase price consideration, was measured as at the date of Somah acquisition – July 31, 2020. During the nine months ended September 30, 2021, the fair market value of the contingent liabilities, measured in accordance with Level 3 of the fair value hierarchy, has decreased by $ 472,000

SCHEDULE OF PRELIMINARY ALLOC_2

SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION (Details) (Parenthetical)	9 Months Ended
	Sep. 30, 2021USD ($)
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Decrease in contingent liabilities	$ 472,000

ACQUISITIONS (Details Narrative

ACQUISITIONS (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Prepaid royalties, non-current	$ 340,969	$ 344,321
Warrants to purschase common stock shares	250,000
Revenue, remaining performance obligation, percentage	6.00%
Additional revenues	$ 50,000,000
Additional revenue	200,000,000
Warrants amount	$ 20,000,000
Weighted average cost of capital percentage	33.80%
Maximum [Member]
Business Acquisition [Line Items]
Additional revenue	$ 50,000,000
Revenue recognized	$ 200,000,000
Royalty [Member]
Business Acquisition [Line Items]
Revenue, remaining performance obligation, percentage	5.00%
Additional revenue	$ 50,000,000
Royalty [Member] | Minimum [Member]
Business Acquisition [Line Items]
Revenue, remaining performance obligation, percentage	4.00%
Royalty [Member] | Maximum [Member]
Business Acquisition [Line Items]
Revenue, remaining performance obligation, percentage	2.00%
Restricted Stock [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Issued for Services	10
Warrants to purschase common stock shares	3,000,000
Strike price per share	$ 5
Warrant term	5 years
Restricted Stock [Member] | Performance Warrants [Member]
Business Acquisition [Line Items]
Warrants to purschase common stock shares	4,000,000
Somah [Member]
Business Acquisition [Line Items]
Prepaid royalties, non-current		$ 344,321

SCHEDULE OF RIGHT-OF-USE ASSET

SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITY (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Leases
Right-of-use asset	$ 1,163,159	$ 1,317,830
Operating lease liabilities, current	260,106	243,292
Operating lease liabilities, non-current	941,732	1,074,538
Total operating lease liabilities	$ 1,201,838	$ 1,317,830

SCHEDULE OF MATURITIES OF LEASE

SCHEDULE OF MATURITIES OF LEASE LIABILITIES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Leases
2021	$ 52,249
2022	277,142
2023	277,142
2024	277,142
2025	277,142
Thereafter	130,950
Total lease payments	1,291,767
Less: present value discount	(89,929)
Total	$ 1,201,838	$ 1,317,830

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 11, 2020
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease term					5 years 6 months
Rent expense	$ 77,357		$ 168,769
Operating expenses	$ 1,792,993	$ 2,190,028	$ 6,152,335	$ 3,096,309
Remaining Lease Term	4 years 8 months 1 day		4 years 8 months 1 day
Operating Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Rent expense			$ 10,817
Base rent percentage			2.50%
Operating expenses			$ 12,000
Operating lease discount rate	3.95%		3.95%

SCHEDULE OF PROPERTY PLANT & EQ

SCHEDULE OF PROPERTY PLANT & EQUIPMENT (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total	$ 9,092	$ 9,092
Less: accumulated amortization	(7,819)	(1,970)
Property, plant and equipment, net	1,273	7,122
Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	701	701
Computer Related [Member]
Property, Plant and Equipment [Line Items]
Total	7,220	7,220
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total	$ 1,171	$ 1,171

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT, NET (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation, Depletion and Amortization	$ 1,425	$ 1,313	$ 5,849	$ 1,313

SUMMARY OF INTANGIBLE ASSETS AM

SUMMARY OF INTANGIBLE ASSETS AMORTIZATION EXPENSE (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 46,892,745	$ 42,867,700
Accumulated Amortization	(507,624)	(589,489)
Net Carrying Amount	46,385,121	42,278,211
Krillase Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	28,600,000	28,600,000
Accumulated Amortization
Net Carrying Amount	28,600,000	28,600,000
Dura Graft Patent [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,256,000	14,147,729
Accumulated Amortization	(471,691)	(589,489)
Net Carrying Amount	4,784,309	13,558,240
Distributor Relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	308,000
Accumulated Amortization	(35,933)
Net Carrying Amount	272,067
Cyto Protectant [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,606,000
Accumulated Amortization
Net Carrying Amount	12,606,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	122,745	119,971
Accumulated Amortization
Net Carrying Amount	$ 122,745	$ 119,971

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2021		Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 42,278,211		$ 28,613,000
Acquired in asset purchase agreement	4,022,271	[1]	14,147,729
Additions	2,775		106,971
Amortization expense	(81,864)	[1]	(589,489)
Amortization expense	81,864	[1]	589,489
Ending Balance	$ 46,385,121		$ 42,278,211
[1]	To account for Somah Transaction measurement period adjustments, the Company restated the Quarterly Report on Form 10-Q for the three and six month ended June 30, 2021, originally filed on August 23, 2021. As a result of the restatement, the value of DuraGraft intangibles purchased with the Somah Transaction increased by $ 4,022,271 898,026

SCHEDULE OF INTANGIBLE ASSETS_2

SCHEDULE OF INTANGIBLE ASSETS (Details) (Parenthetical) - USD ($)	3 Months Ended			6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 108,777	$ 4,022,271	$ 341,270		$ 326,331	$ 341,270
Amortization of intangible assets				$ 898,026

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	Sep. 12, 2018	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Amortization expense		$ 108,777	$ 4,022,271	$ 341,270	$ 326,331	$ 341,270
Somah [Member]
Defined Benefit Plan Disclosure [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One		435,108			435,108
Finite-Lived Intangible Asset, Expected Amortization, Year Two		$ 2,880,836			$ 2,880,836
Krillase Technology [Member]
Defined Benefit Plan Disclosure [Line Items]
Issuance of common stock for acquisition, shares	28,600,000

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Trade accounts payable	$ 1,117,517	$ 325,830
Accrued expenses	180,846	21,555
Accrued compensation expenses	98,582	130,718
Total accounts payable and accrued expenses	$ 1,396,945	$ 478,103

SCHEDULE OF CONVERTIBLE NOTES (

SCHEDULE OF CONVERTIBLE NOTES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Disclosure [Abstract]
Convertible notes issued	$ 1,174,945		$ 1,174,945
Debt discount	(964,153)		(964,153)
Debt accretion	70,221		74,410
Convertible notes, net of debt discount	$ 179,457		$ 179,457

CONVERTIBLE PROMISSORY NOTES _3

CONVERTIBLE PROMISSORY NOTES AND WARRANTS (Details Narrative)	Sep. 29, 2021$ / sharesshares	May 31, 2021USD ($)$ / sharesshares	May 27, 2021$ / sharesshares	Sep. 30, 2021USD ($)$ / sharesshares	Jul. 31, 2021USD ($)shares	May 31, 2021USD ($)$ / sharesshares	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Sale of stock shares						29,978
Sale of Stock, Price Per Share | $ / shares		$ 2.50				$ 2.50
Proceeds from Notes Payable | $		$ 74,945
Warrants to purchase common shares				250,000			250,000		250,000
Issuance costs | $		$ 6,745				$ 6,745
Fair Value Adjustment of Warrants | $				$ 2,899,000					$ 571,807
Derivative Assets (Liabilities), at Fair Value, Net | $				$ 391,648			$ 391,648		391,648
Interest and accretion expenses | $							$ 70,221		$ 74,410
Debt instrument conversion price | $ / shares				$ 2.25			$ 2.25		$ 2.25
Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Frequency of periodic payment									The Convertible Notes mature in 24 months from the initial closing date and accrue 10% of simple interest per annum on the outstanding principal amount.
Debt Instrument, Interest Rate, Stated Percentage				10.00%			10.00%		10.00%
Debt instrument conversion description									The Convertible Notes principal and accrued interest can be converted at any time at the option of the holder at a conversion price of $2.25 per share (before the modification - $2.50 per share)
Percentage of debt instrument of conversion price									0.75
Maximum [Member]
Debt Instrument [Line Items]
Debt conversion price per share | $ / shares	$ 2.50
Minimum [Member]
Debt Instrument [Line Items]
Debt conversion price per share | $ / shares	2.25
Minimum [Member] | Convertible Notes Payable [Member]
Debt Instrument [Line Items]
Equity financing gross amount | $				$ 10,000,000			$ 10,000,000		$ 10,000,000
Class A Warrants [Member]
Debt Instrument [Line Items]
Sale of stock amount | $					$ 1,100,000	$ 74,945
Warrants to purchase common shares		29,978				29,978
Percentage of debt instrument of conversion price									0.75
Debt instrument conversion price | $ / shares				$ 2.50			$ 2.50		$ 2.50
Warrants exercise price per share | $ / shares									$ 3.13
Warrants exercisable term									5 years
Percentage of warrant coverage									1
Class B Warrants [Member]
Debt Instrument [Line Items]
Warrants to purchase common shares		29,978				29,978
Warrants exercise price per share | $ / shares									$ 5
Warrants exercisable term									5 years
Percentage of warrant coverage									1
Class C Warrants [Member]
Debt Instrument [Line Items]
Percentage of debt instrument of conversion price									0.75
Debt instrument conversion price | $ / shares				$ 2.25			$ 2.25		$ 2.25
Warrants exercise price per share | $ / shares									$ 2.25
Warrants exercisable term									5 years
Percentage of warrant coverage									2
Unit Purchase Agreement [Member]
Debt Instrument [Line Items]
Sale of stock shares			4,000,000
Sale of Stock, Price Per Share | $ / shares			$ 2.50
Debt description			Each Unit is comprised of (i) a convertible promissory note (the “Convertible Note”) convertible into common stock of the Company at a price per share of $2.50, (ii) a warrant to purchase one share of common stock of the Company (the ‘Class A Warrant’); and (iii) a second warrant to purchase common stock of the Company (the “Class B Warrant”).
Pro rata units				469,978			469,978		469,978
Aggregate pro rata units				522,198			522,198		522,198
Unit Purchase Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Sale of Stock, Price Per Share | $ / shares	2.50
Unit Purchase Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Sale of Stock, Price Per Share | $ / shares	$ 2.25
Unit Purchase Agreement [Member] | Class A Warrants [Member]
Debt Instrument [Line Items]
Warrants to purchase common shares			29,978		440,000
Warrants exercisable term									5 years
Unit Purchase Agreement [Member] | Class B Warrants [Member]
Debt Instrument [Line Items]
Warrants to purchase common shares			29,978		440,000
Warrants exercisable term									5 years
Unit Purchase Agreement [Member] | Class C Warrants [Member]
Debt Instrument [Line Items]
Aggregate pro rata units	1,044,396
Warrants exercisable term									5 years
Unit Purchase Program [Member]
Debt Instrument [Line Items]
Sale of stock shares					440,000
Proceeds from Notes Payable | $					$ 1,100,000
Issuance costs | $					$ 99,000
Unit Purchase Program [Member] | Class A Warrants [Member]
Debt Instrument [Line Items]
Warrants to purchase common shares					440,000
Unit Purchase Program [Member] | Class B Warrants [Member]
Debt Instrument [Line Items]
Warrants to purchase common shares					440,000

SCHEDULE OF SHARE BASED STOCK O

SCHEDULE OF SHARE BASED STOCK OPTION VALUATION ASSUMPTIONS (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Risk-free interest rate	0.69%	0.93%
Volatility	232.69%	241.88%
Exercise price	$ 1.25	$ 1.37
Dividend yield	0.00%	0.00%
Forfeiture rate	0.00%	0.00%
Expected life (years)	3 years	10 years

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Equity [Abstract]
Number of Options, Outstanding Ending Balance	3,800,943	2,715,000
Weighted Average Exercise Price, Outstanding Ending Balance	$ 1.36	$ 1.50
Weighted average contractual life term, outstanding		9 years 5 months 23 days
Number of Options, Granted	732,500	1,340,000
Weighted Average Exercise Price, Granted	$ 1.25	$ 1.25
Number of Options, Exercised		(254,057)
Weighted Average Exercise Price, Exercised		$ 1.02
Weighted average contractual life term, outstanding	8 years 1 month 17 days	8 years 9 months 25 days
Total Intrinsic Value, Beginning Balance	$ 123,600
Number of Options, Forfeited	(760,626)
Weighted Average Exercise Price, Forfeited	$ 1.25
Number of Options, Outstanding Ending Balance	3,772,817	3,800,943
Weighted Average Exercise Price, Outstanding Ending Balance	$ 1.37	$ 1.36
Total Intrinsic Value, Ending Balance	$ 97,850	$ 123,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	3,074,476
Weighted Average Exercise Price, Exercisable	$ 1.39
Weighted average contractual life term, exercisable	3 years 9 months 7 days
Total Intrinsic Value, exercisable	$ 97,850

Schedule of Options Outstanding

Schedule of Options Outstanding and Issued (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock options outstanding, Begining balance	3,393,651	113,637
Weighted Average Exercise Price, Outstanding Ending Balance	$ 1.36	$ 1.50
Stock options outstanding, issued	$ 1,044,396	$ 280,014
Stock options outstanding, Ending balance	4,438,047	3,393,651
Weighted Average Exercise Price, Outstanding Ending Balance	$ 1.37	$ 1.36
Somah Acquisition [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock options outstanding, issued		$ 3,000,000
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Weighted Average Exercise Price, Outstanding Ending Balance		$ 3
Weighted average exercise price, issued	2.25	1.38
Weighted average exercise price, outstanding	2.13
Weighted Average Exercise Price, Outstanding Ending Balance	$ 2.16
Warrant [Member] | Somah Acquisition [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Weighted average exercise price, issued		$ 5

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)

Jan. 13, 2021

Jul. 31, 2020

Sep. 30, 2021

Sep. 30, 2020

Jun. 30, 2020

Sep. 30, 2021

Sep. 30, 2020

Dec. 31, 2020

Sep. 29, 2021

Jul. 31, 2021

May 31, 2021

May 27, 2021

Sep. 25, 2020

Class of Warrant or Right [Line Items]

Preferred stock, shares authorized

25,000,000

25,000,000

25,000,000

Preferred stock, par value per share

$ 0.001

$ 0.001

$ 0.001

Preferred stock, shares issued

0

0

0

Preferred stock, shares outstanding

0

0

0

Common stock, shares authorized

75,000,000

75,000,000

75,000,000

Common stock, par value

$ 0.001

$ 0.001

$ 0.001

Common stock, shares, issued

35,928,188

35,928,188

35,928,188

Common stock, shares, outstanding

35,928,188

35,928,188

35,928,188

Stock issued for exercised of options

254,057

Stock issued for exercised of options, granted

732,500

1,340,000

Warrant to purchase shares of common stock

250,000

250,000

Share-based Payment Arrangement, Noncash Expense

$ 64,074

$ 593,116

$ 1,420,451

[custom:NonCashShareBasedCompensation]

1,107,085

$ 1,674,200

Restricted Stock or Unit Expense

33,333

Unrecognized stock based compensation

$ 652,932

Unrecognized stock based Compensation weighted average contract period

2 years 5 months 8 days

Common Stock [Member]

Class of Warrant or Right [Line Items]

Stock issued for exercised of options

54,057

5,000

Issuance of common stock for acquisition, shares

10,000,000

Common Stock [Member] | Somahlution Inc [Member]

Class of Warrant or Right [Line Items]

Issuance of common stock for acquisition, shares

10,000,000

Warrant [Member] | Somahlution Inc [Member]

Class of Warrant or Right [Line Items]

Warrant exercise price per share

$ 5

Issuance of common stock for acquisition, shares

3,000,000

Fair market value of warrant per share

$ 0.40

Fair market value of warrant

$ 1,200,000

Warrant One [Member]

Class of Warrant or Right [Line Items]

Warrant to purchase shares of common stock

168,008

Fair market value of warrant

$ 152,249

Warrant One [Member] | Somahlution Inc [Member]

Class of Warrant or Right [Line Items]

Warrant term

5 years

Warrant Two [Member]

Class of Warrant or Right [Line Items]

Warrant to purchase shares of common stock

112,006

Warrant exercise price per share

$ 1.375

Warrant term

5 years

Fair market value of warrant per share

$ 0.9062

Fair market value of warrant

$ 101,500

Warrant One and Two [Member]

Class of Warrant or Right [Line Items]

Fair market value of warrant

$ 253,749

Unit Purchase Agreement [Member]

Class of Warrant or Right [Line Items]

[custom:AggregateProRataUnits-0]

522,198

522,198

Class A Warrants [Member]

Class of Warrant or Right [Line Items]

Warrant to purchase shares of common stock

29,978

Warrants exercisable term

5 years

Class A Warrants [Member] | Unit Purchase Agreement [Member]

Class of Warrant or Right [Line Items]

Warrant to purchase shares of common stock

440,000

29,978

Warrant exercise price per share

$ 3.13

Warrants exercisable term

5 years

Class B Warrants [Member]

Class of Warrant or Right [Line Items]

Warrant to purchase shares of common stock

29,978

Warrants exercisable term

5 years

Class B Warrants [Member] | Unit Purchase Agreement [Member]

Class of Warrant or Right [Line Items]

Warrant to purchase shares of common stock

440,000

29,978

Warrant exercise price per share

$ 5

Warrants exercisable term

5 years

Class C Warrants [Member]

Class of Warrant or Right [Line Items]

Warrants exercisable term

5 years

Class C Warrants [Member] | Unit Purchase Agreement [Member]

Class of Warrant or Right [Line Items]

Warrant exercise price per share

$ 2.25

Warrants exercisable term

5 years

[custom:AggregateProRataUnits-0]

1,044,396

Stock Incentive Plan [Member]

Class of Warrant or Right [Line Items]

Stock issued for exercised of options

5,300,000

1,527,183

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Related Party Transactions [Abstract]
Related party transactions owned	$ 638,530		$ 638,530
Proceeds from related party	151,000
Proceeds from related party and shareholders debt			215,000
Related party transactions, professional expenses	30,000	$ 90,000	270,000	$ 90,000
Related party transactions, administrative and general expenses			2,530
Related party transaction			272,530
Prepaid royalties	$ 340,969		$ 340,969		$ 344,321

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Jul. 13, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salary and wage		$ 617,826	$ 433,318	$ 2,478,357	$ 433,318
Issuance of stock options				732,500		1,340,000
Royalties percentage				10.00%
UNITED STATES | First Fifty Million [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Royalties percentage				5.00%
UNITED STATES | Fifty Million Up To Two Hundred Million [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Royalties percentage				4.00%
UNITED STATES | Over Two Hundred Million [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Royalties percentage				2.00%
Non-US [Member] | First Fifty Million [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Royalties percentage				6.00%
Non-US [Member] | Fifty Million Up To Two Hundred Million [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Royalties percentage				4.00%
Non-US [Member] | Over Two Hundred Million [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Royalties percentage				2.00%
July Thirteen Two Thousandand Twenty Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salary and wage	$ 30,000
July Thirteen Two Thousand and Twenty One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of stock options	250,000
Shares issued, price per share	$ 1.50

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative)	Nov. 01, 2021shares
Subsequent Event [Member]
Subsequent Event [Line Items]
Aggregate common stock shares issued	4,600,000