Marizyme (MRZM) S-1/A 9 Feb 23 IPO registration (amended) Financial data

Cover

Cover	9 Months Ended
	Sep. 30, 2022
Cover [Abstract]
Document Type	S-1/A
Amendment Flag	true
Amendment Description	AMENDMENT NO. 4
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	(561)
Local Phone Number	935-9955
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Current
Cash	$ 1,182,248	$ 4,072,339	$ 2,902,762
Accounts receivable	54,225	8,650	40,585
Other receivables	14,134	41,307
Prepaid expense	839,818	257,169	106,390
Inventory	251,187	22,353	56,340
Total current assets	2,341,612	4,401,818	3,106,077
Non-current
Property, plant and equipment, net	12,613	12,817	7,122
Operating lease right-of-use assets, net	1,576,445	1,158,776	1,317,830
Intangible assets, net	52,235,313	52,866,192	42,278,211
Prepaid royalties, non-current	339,091	339,091	344,321
Deposits	30,000	30,000	30,000
Goodwill	7,190,656	7,190,656
Total non-current assets	61,384,118	61,597,532	43,977,484
Total assets	63,725,730	65,999,350	47,083,561
Current
Accounts payable and accrued expenses	848,345	1,596,147	478,103
Note payable	213,563	127,798
Due to related parties	123,266	1,132,634
Operating lease obligations	420,913	277,142	243,292
Total current liabilities	1,606,087	3,133,721	721,395
Non-current
Operating lease obligations, net of current portion	1,155,532	881,634	1,074,538
Notes payable, net of current portion		469,252
Convertible notes	1,648,795	26,065
Derivative liabilities	4,923,725	2,485,346
Contingent liabilities	13,444,000	11,313,000
Total non-current liabilities	21,172,052	15,175,297	1,074,538
Total liabilities	22,778,139	18,309,018	1,795,933
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, $0.001 par value, 25,000,000 shares authorized, no shares issued and outstanding as of December 31, 2021 and 2020
Common stock, par value $0.001, 20,000,000 shares authorized, issued and outstanding shares - 2,702,070 and 2,395,330 at December 31, 2021 and 2020 respectively	2,722	2,702	2,395
Additional paid-in capital	103,369,939	95,511,193	82,110,867
Accumulated deficit	(62,425,070)	(47,823,563)	(36,825,634)
Total stockholders’ equity	40,947,591	47,690,332	45,287,628
Total liabilities and stockholders’ equity	$ 63,725,730	$ 65,999,350	$ 47,083,561

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000	25,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001	$ 0.001
Common Stock, Shares Authorized	20,000,000	20,000,000	20,000,000
Common Stock, Shares, Issued	2,722,070	2,702,070	2,395,330
Common Stock, Shares, Outstanding	2,722,070	2,702,070	2,395,330

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 76,012	$ 37,215	$ 137,821	$ 271,952	$ 210,279	$ 197,136
Operating expenses:
Direct costs of revenue	15,503	18,356	26,528	168,419	80,354	58,292
Professional fees (includes related party amounts of $410,400, and $180,000, respectively)	303,574	460,378	1,721,479	1,445,004	2,269,756	1,153,731
Salary expenses	330,221	517,192	2,147,967	2,084,430	2,887,309	915,210
Research and development	708,220	241,748	3,297,986	877,936	1,681,899	687,734
Stock-based compensation	271,517	64,074	1,664,191	626,449	898,444	1,833,292
Depreciation and amortization	210,361	1,425	631,083	5,849	43,871	591,458
Other general and administrative expenses	469,656	489,820	1,478,726	944,248	1,170,029	757,022
Total operating expenses	2,309,052	1,792,993	10,967,960	6,152,335	9,031,662	5,996,739
Total operating loss	(2,233,040)	(1,755,778)	(10,830,139)	(5,880,383)	(8,821,383)	(5,799,603)
Other expense
Interest and accretion expenses	(810,598)	(70,221)	(1,640,368)	(74,410)	(126,024)	(45,450)
Change in fair value of contingent liabilities	1,491,000	194,000	(2,131,000)	472,000	(1,387,000)
Loss on debt extinguishment					(663,522)
Total other expense	680,402	123,779	(3,771,368)	397,590	(2,176,546)	(45,450)
Net loss	$ (1,552,638)	$ (1,631,999)	$ (14,601,507)	$ (5,482,793)	$ (10,997,929)	$ (5,845,053)
Loss per share - basic and diluted	$ (0.57)	$ (0.68)	$ (5.37)	$ (2.29)	$ (4.58)	$ (3.31)
Weighted average number of shares of common stock outstanding - basic and diluted	2,722,070	2,395,403	2,717,674	2,395,403	2,402,893	1,767,484

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Professional fees related parties	$ 155,000	$ 90,000	$ 422,000	$ 270,000
Professional fees related paty	$ 303,574	$ 460,378	$ 1,721,479	$ 1,445,004	$ 2,269,756	$ 1,153,731
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Professional fees related paty					$ 410,400	$ 180,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 1,324	$ 59,322,129	$ (30,980,581)	$ 28,342,872
Beginning balance, shares at Dec. 31, 2019	1,324,041
Stock-based compensation expense		1,329,643		1,329,643
Net loss			(5,845,053)	(5,845,053)
Common shares issued in lieu of payables	$ 17	261,436		261,453
Common shares issued in lieu of payables, shares	16,940
Common stock issued for services	$ 14	237,486		237,500
Common stock issued for services, shares	14,335
Sale of common stock	$ 373	6,274,791		6,275,164
Sale of common stock, shares	373,347
Issuance of common stock for acquisition	$ 667	$ 12,499,333		$ 12,500,000
Issuance of common stock for acquisition, shares	666,667
Issuance of warrants for acquisition		1,932,300		1,932,300
Issuance of warrants for services		$ 253,749		$ 253,749
Ending balance, value at Dec. 31, 2020	$ 2,395	82,110,867	(36,825,634)	45,287,628
Ending balance, shares at Dec. 31, 2020	2,395,330
Stock-based compensation expense		334,385		334,385
Net loss			(2,211,866)	(2,211,866)
Ending balance, value at Mar. 31, 2021	$ 2,395	82	(39,037,500)	43,410,147
Ending balance, shares at Mar. 31, 2021	2,395,330
Beginning balance, value at Dec. 31, 2020	$ 2,395	82,110,867	(36,825,634)	45,287,628
Beginning balance, shares at Dec. 31, 2020	2,395,330
Net loss				(5,482,793)
Issuance of warrants for services
Ending balance, value at Sep. 30, 2021	$ 2,395	82,543,490	(42,308,427)	40,237,458
Ending balance, shares at Sep. 30, 2021	2,395,330
Beginning balance, value at Dec. 31, 2020	$ 2,395	82,110,867	(36,825,634)	45,287,628
Beginning balance, shares at Dec. 31, 2020	2,395,330
Stock-based compensation expense		865,112		865,112
Net loss			(10,997,929)	(10,997,929)
Warrants issued		5,493,821		5,493,821
Warrants issued for acquisition		(732,300)		(732,300)
Issuance of common stock for acquisition	$ 307	7,773,693		7,774,000
Issuance of common stock for acquisition, shares	306,740
Issuance of warrants for services				368,287
Ending balance, value at Dec. 31, 2021	$ 2,702	95,511,193	(47,823,563)	47,690,332
Ending balance, shares at Dec. 31, 2021	2,702,070
Beginning balance, value at Mar. 31, 2021	$ 2,395	82	(39,037,500)	43,410,147
Beginning balance, shares at Mar. 31, 2021	2,395,330
Stock-based compensation expense		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	$ 2,395	81,907,609	(40,676,428)	41,233,576
Ending balance, shares at Jun. 30, 2021	2,395,330
Stock-based compensation expense		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	$ 2,395	82,543,490	(42,308,427)	40,237,458
Ending balance, shares at Sep. 30, 2021	2,395,330
Beginning balance, value at Dec. 31, 2021	$ 2,702	95,511,193	(47,823,563)	47,690,332
Beginning balance, shares at Dec. 31, 2021	2,702,070
Stock-based compensation expense		716,432		716,432
Net loss			(6,124,885)	(6,124,885)
Warrants issued		2,969,916		2,969,916
Exercise of warrants	$ 20	2,980		3,000
Exercise of warrants, shares	20,000
Ending balance, value at Mar. 31, 2022	$ 2,722	99,200,521	(53,948,448)	45,254,795
Ending balance, shares at Mar. 31, 2022	2,722,070
Beginning balance, value at Dec. 31, 2021	$ 2,702	95,511,193	(47,823,563)	47,690,332
Beginning balance, shares at Dec. 31, 2021	2,702,070
Net loss				(14,601,507)
Issuance of warrants for services				1,850,533
Ending balance, value at Sep. 30, 2022	$ 2,722	103,369,939	(62,425,070)	40,947,591
Ending balance, shares at Sep. 30, 2022	2,722,070
Beginning balance, value at Mar. 31, 2022	$ 2,722	99,200,521	(53,948,448)	45,254,795
Beginning balance, shares at Mar. 31, 2022	2,722,070
Stock-based compensation expense		676,242		676,242
Net loss			(6,923,984)	(6,923,984)
Warrants issued		2,341,659		2,341,659
Ending balance, value at Jun. 30, 2022	$ 2,722	102,218,422	(60,872,432)	41,348,712
Ending balance, shares at Jun. 30, 2022	2,722,070
Stock-based compensation expense		271,517		271,517
Net loss			(1,552,638)	(1,552,638)
Warrants issued		880,000		880,000
Ending balance, value at Sep. 30, 2022	$ 2,722	$ 103,369,939	$ (62,425,070)	$ 40,947,591
Ending balance, shares at Sep. 30, 2022	2,722,070

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net loss	$ (14,601,507)	$ (5,482,793)	$ (10,997,929)	$ (5,845,053)
Adjustments to reconcile net loss to net cash used in operations:
Depreciation and amortization	631,083	(76,013)	43,871	591,459
Stock-based compensation	1,664,191	593,116	865,112	1,329,643
Stock-based compensation - restricted common stock		33,333	33,332
Interest and accretion on convertible notes and notes payable	1,637,951	74,410
Interest and accretion on convertible notes			126,024
Issuance of common stock for services				237,500
Issuance of warrants  for services	1,850,533		368,287	253,749
Change in fair value of contingent liabilities	2,131,000	(472,000)	1,387,000
Loss on debt extinguishment			663,522
Change in operating assets and liabilities:
Accounts receivable			36,298	(40,585)
Accounts and other receivables	(18,402)	(55,706)
Prepaid expense	(582,649)	38,057	(184,112)	307,983
Inventory	(228,834)	40,950	33,987	127,129
Deposits				(30,000)
Accounts payable and accrued expenses	(740,034)	721,078	968,788	(155,661)
Due to related parties	(1,009,368)	272,530	868,725
Net cash used in operating activities	(9,266,036)	(4,313,038)	(5,787,095)	(3,223,836)
Cash flows used in investing activities:
Purchase of intangible assets				(148,656)
Net cash used in investing activities				(148,656)
Cash flows from financing activities:
Proceeds from promissory notes	6,500,743	1,060,949	263,907
Proceeds from promissory notes, due to related parties		366,000
Proceeds from financing, net of issuance costs			6,692,765
Shares issued for cash, net of offering costs				6,275,164
Repayment of notes payable	(127,798)
Proceeds from exercise of warrants	3,000
Net cash provided by financing activities	6,375,945	1,426,949	6,956,672	6,275,164
Net change in cash	(2,890,091)	(2,886,089)	1,169,577	2,902,672
Cash at beginning of year	4,072,339	2,902,762	2,902,762	90
Cash at end of year	1,182,248	16,673	4,072,339	2,902,762
Supplemental disclosure of cash flow information:
Cash paid for interest				45,449
Cash paid for taxes
Non-cash investing and financing activities:
Derivative liabilities and debt discount issued in connection with convertible notes	2,438,379	391,648	(2,485,346)
Warrants and debt discount issued in connection with convertible notes	4,341,042	571,807	(5,125,534)
Settlement of notes payable with convertible notes	278,678
Contingent liabilities		9,926,000
Derivative liabilities and debt discount issued in connection with convertible notes	(2,438,379)	(391,648)	2,485,346
Warrants and debt discount issued in connection with convertible notes	$ (4,341,042)	$ (571,807)	5,125,534
Contingent liabilities			9,926,000
Issuance of common stock in lieu of payables				261,453
Issuance of common stock in connection with business combination			7,774,000	12,500,000
Notes payable assumed in connection with business combination			468,137
Issuance of warrants in connection with business combination				1,932,300
Initial adoption of ROU asset and lease liability				$ 1,317,830

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	NOTE 1 – DESCRIPTION OF BUSINESS Marizyme, Inc. (the “Company” or “Marizyme”) is a Nevada March 20, 2007 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, 2022
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 accounting principles 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 $ 62,425,070 47,823,563 735,525 1,268,097 1,182,248 4,072,339 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 a clearance from the U.S. Food 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 offerings. 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	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
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: My Health Logic Inc (“My Health Logic” or “MHL”), Somahlution, Inc. (“Somahlution”), Somaceutica, Inc. (“Somaceutica”), (collectively – “Somah”), and Marizyme Sciences, Inc. (“Marizyme Sciences”). All intercompany transactions have been eliminated on consolidation. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with accounting principles generally accepted in the United States of America (“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 March 31, 2022 (the “2021 Form 10-K”). The condensed consolidated balance sheet as of December 31, 2021 was derived from audited consolidated financial statements included in the 2021 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 1 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 to fairly present the results of operations, financial condition, cash flows and stockholders’ equity for the periods indicated. Except as otherwise disclosed, all such adjustments are of a normal recurring nature. Deferred Offering Cost The Company capitalizes certain legal, professional accounting and other third-party fees that are directly associated with in-process capital stock financings as deferred offering costs until such financings are consummated. After consummation of the financing, these costs are recorded in stockholders’ equity (deficit) as a reduction of additional paid-in capital generated as a result of the offering. Should a planned equity financing be abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the statements of operations. The Company had no deferred offering costs as of December 31, 2021. As of September 30, 2022, the Company had recorded deferred offering costs of $ 271,240 Use of Estimates The preparation of the 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 condensed 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 and considers counterparty credit risk in its assessment of fair value. The carrying amounts of certain accounts and other receivables, accounts payable and accrued expenses, notes payable, 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 in 2020 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. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 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 69.62 0 5.96 1,999,000 899,000 5,251,000 4,352,000 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 20.6 516,000 1,288,000 5,276,000 3,988,000 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 8,000 56,000 1,094,000 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 78.93 0 5 1,823,000 1,823,000 The derivative liabilities consist of optional and automatic conversion features and the share redemption feature attached to the convertible notes, issued pursuant to the Unit Purchase Agreement (Note 7). 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, 2022, and December 31, 2021, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS Fair Value Hierarchy September 30, 2022 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 4,923,725 Contingent liabilities - - 13,444,000 Total $ - $ - $ 18,367,725 Fair Value Hierarchy December 31, 2021 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 2,485,346 Contingent liabilities - - 11,313,000 Total $ - $ - $ 13,798,346 MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE Derivative and Contingent Liabilities Balance at December 31, 2021 $ 13,798,346 Change in fair value of contingent liabilities 2,131,000 Derivative liabilities issued pursuant to Unit Purchase Agreement 2,438,379 Balance at September 30, 2022 $ 18,367,725 The Company had $9,845,648 in contingent liabilities and derivative liabilities as at September 30, 2021. Research and Development Expenses and Accruals All research and development costs are expensed in the period incurred and consist primarily of salaries, payroll taxes, and employee benefits, for individuals involved in research and development efforts, external research and development costs incurred under agreements with contract research organizations and consultants to conduct and support the Company’s ongoing clinical trials of DuraGraft, and costs related to manufacturing DuraGraft for clinical trials. The Company has entered into various research and development contracts with various organizations. Payments of these activities are based on the terms of the individual agreements which matches to the pattern of costs incurred. Payments made in advance are reflected in the accompanying balance sheets as prepaid expenses. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates may be required in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Stock-Based Compensation Stock-based compensation expense for employees and directors is recognized in the Condensed Consolidated Statements of Operations based on estimated amounts, including the grant date fair value and the expected service period. For stock options, the Company estimates the grant date fair value using a Black-Scholes valuation model, which requires the use of multiple subjective inputs including estimated future volatility, expected forfeitures and the expected term of the awards. The Company estimate the expected future volatility based on the stock’s historical price volatility. The stock’s future volatility may differ from the estimated volatility at the grant date. For restricted stock unit (“RSU”) equity awards, the Company estimates the grant date fair value using its closing stock price on the date of grant. The Company recognizes the effect of forfeitures in compensation expense when the forfeitures occur. The estimated forfeiture rates may differ from actual forfeiture rates which would affect the amount of expense recognized during the period. The Company recognizes the value of the awards over the awards’ requisite service or performance periods. The requisite service period is generally the time over which share-based awards vest. Comparative Information To conform with the current period’s financial statement presentation, the Company reclassified certain professional fees, salaries, rent and repairs and maintenance expenses related to research and development activities for the three and nine months ended September 30, 2021, into the research and development expenses line item on the Condensed Consolidated Statements of Operations. Such reclassifications were not considered material and did not have any effect on the Company’s net loss for the three- and nine- month periods ended September 30, 2021.	1. Organization, Basis of Presentation and Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization Marizyme, 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”. Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The accompanying consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries, Somahlution, Inc. (“Somahlution”), Somaceutica, Inc. (“Somaceutica”), Marizyme Sciences, Inc. (“Marizyme Sciences”), and My Health Logic, Inc. (“My Health Logic”). All intercompany transactions have been eliminated on consolidation. Going Concern The Company’s 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 $ 47,823,563 at December 31, 2021. Additionally, the Company has working capital of $ 1,268,097 and $ 4,072,339 of cash on hand, which may not be sufficient to fund operations for the next twelve months. 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 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 from the date the consolidated financial statements were issued, 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 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. Subsequent to the year ended December 31, 2021, on February 14, 2021, Marizyme completed a preliminary prospectus with intention to raise up to $ 17,250,000 The 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. Use of Estimates The preparation of the 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. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 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 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 2) 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 69.62 0 6.21 417,000 4,352,000 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 1,802,000 3,988,000 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 year ended December 31, 2021, changes in these assumptions resulted in $ 2,000 increase in fair value of this liability. At December 31, 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 78.93 0 5 years No 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 6). 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. At December 31, 2021 and 2020, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS December 31, 2021 Level 1 Level 2 Level 3 December 31, 2020 Fair Value Hierarchy December 31, 2021 Level 1 Level 2 Level 3 December 31, 2020 Liabilities Derivative liabilities $ - $ - $ 2,485,346 $ - Contingent liabilities - - 11,313,000 - Total $ - $ - $ 13,798,346 $ - MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE Derivative and Contingent Liabilities Balance at December 31, 2020 - Derivative liabilities $ 391,648 Extinguishment of debt obligations (391,648 ) Derivative liabilities - amended Unit Purchase Agreement (Note 6) 2,485,346 Initial valuation of contingent liabilities assumed on Somah acquisition 1 9,926,000 Change in fair value 1,387,000 Balance at December 31, 2021 $ 13,798,346 1 Measured as at Somah acquisition date of July 31, 2020, see Note 2. Cash Cash include cash in readily available checking accounts. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. Inventory Inventory consisted of primarily finished goods and is valued at the lower of cost and net realizable value. Cost is determined using the FIFO method. The Company decreases the value of inventory for estimated obsolescence equal to the difference between the cost of inventory and the estimated market value, based upon an aging analysis of the inventory on hand, specifically known inventory-related risks, and assumptions about future demand and market conditions. The Company has determined that no inventory reserve was necessary as of December 31, 2021 and 2020. Accounts Receivable Trade receivables are amounts due from customers for goods sold in the ordinary course of business. Accounts receivable are non-interest bearing and are due for settlement in full within 30 days. Trade receivables are shown net of allowance for bad or doubtful debts. Allowance for Doubtful Accounts The Company establishes an allowance for doubtful accounts to ensure trade and other receivables are not overstated due to non-collectability. The Company’s allowance is based on a variety of factors, including age of the receivable, significant one-time events, historical experience, and other risk considerations. The Company did not have an allowance at December 31, 2021 or 2020. The Company did not record any bad debt expense in each of the years ended December 31, 2021 and 2020. Property, Plant, and Equipment, Net Property, plant and equipment are recorded at cost, less accumulated depreciation. Depreciation expense is recognized using the straight-line method over the useful life of the asset. Machinery, computer equipment and related software are depreciated over five to seven years. Furniture and fixtures are depreciated over four seven years 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 (“IPR&D”). 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. These IPR&D assets are reviewed for impairment annually, or sooner if events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable, and upon establishment of technological feasibility or regulatory approval. An impairment loss, if any, is calculated by comparing the fair value of the asset to its carrying value. If the asset’s carrying value exceeds its fair value, an impairment loss is recorded for the difference and its carrying value is reduced accordingly. Similar to the impairment test for goodwill, the Company may perform a qualitative approach for testing indefinite-lived intangible assets for impairment. The Company used the qualitative approach and concluded that it was more-likely-than-not that its indefinite-lived assets were not impaired during the years ended December 31, 2021 and 2020. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 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 impairment losses have been recorded through December 31, 2021 and 2020. Leases At the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, the Company records the associated lease liability and corresponding right-of-use asset upon commencement of the lease using the implicit rate or a discount rate based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. The Company additionally evaluates leases at their inception to determine if they are to be accounted for as an operating lease or a finance lease. A lease is accounted for as a finance lease if it meets one of the following five criteria: the lease has a purchase option that is reasonably certain of being exercised, the present value of the future cash flows is substantially all of the fair market value of the underlying asset, the lease term is for a significant portion of the remaining economic life of the underlying asset, the title to the underlying asset transfers at the end of the lease term, or if the underlying asset is of such a specialized nature that it is expected to have no alternative uses to the lessor at the end of the term. Leases that do not meet the finance lease criteria are accounted for as an operating lease. Operating lease assets represent a right to use an underlying asset for the lease term and operating lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease liabilities with a term greater than one year and their corresponding right-of-use assets are recognized on the balance sheet at the commencement date of the lease based on the present value of lease payments over the expected lease term. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received. As the Company’s leases do not typically provide an implicit rate, the Company utilizes the appropriate incremental borrowing rate, determined as the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment. Lease cost is recognized on a straight-line basis over the lease term and variable lease payments are recognized as operating expenses in the period in which the obligation for those payments is incurred. Variable lease payments primarily include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor in proportion to the space leased by the Company. The Company has elected the practical expedient to not separate between lease and non-lease components. Revenue Recognition Pursuant to Topic 606, the Company recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be intitled in exchange for those goods or services. To achieve this core principle, Topic 606 outlines a five-step process for recognizing revenue from customer contracts that includes i) identification of the contract with a customer, ii) identification of the performance obligations in the contract, iii) determining the transaction price, iv) allocating the transaction price to the separate performance obligations in the contract, and v) recognizing revenue associated with performance obligations as they are satisfied. At contract inception, the Company assesses the goods or services promised within each contract and assess whether each promised good or service is distinct and determine those that are performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied. We have identified one performance obligation which is related to our DuraGraft product sales. For our Distribution Partner channel, we recognize revenue for product sales at the time of delivery of the product to our Distribution Partner (customer). As our products have an expiration date, if a product expires, we will replace the product at no charge. There were no significant judgements made in applying this topic. Direct Cost of Revenue Cost of sales includes the actual cost of merchandise sold, and the cost of transportation of merchandise from our third-party vendor to our distributer. Research and Development Expenses and Accruals All research and development costs are expensed in the period incurred and consist primarily of salaries, payroll taxes, and employee benefits, those individuals involved in research and development efforts, external research and development costs incurred under agreements with contract research organizations and consultants to conduct and support the Company’s ongoing clinical trials of DuraGraft, and costs related to manufacturing DuraGraft for clinical trials. The Company has entered into various research and development contracts with various organizations and other companies. Payments of these activities are based on the terms of the individual agreements which matches to the pattern of costs incurred. Payments made in advances are reflected in the accompanying balance sheets as prepaid expenses. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates may be made in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Stock-Based Compensation Share-based compensation expense for employees and directors is recognized in the Consolidated Statement of Operations based on estimated amounts, including the grant date fair value and the expected service period. For stock options, we estimate the grant date fair value using a Black-Scholes valuation model, which requires the use of multiple subjective inputs including estimated future volatility, expected forfeitures and the expected term of the awards. We estimate the expected future volatility based on the stock’s historical price volatility. The stock’s future volatility may differ from the estimated volatility at the grant date. For restricted stock unit (“RSU”) equity awards, we estimate the grant date fair value using our closing stock price on the date of grant. We recognize the effect of forfeitures in compensation expense when the forfeitures occur. The estimated forfeiture rates may differ from actual forfeiture rates which would affect the amount of expense recognized during the period. We recognize the value of the awards over the awards’ requisite service or performance periods. The requisite service period is generally the time over which our share-based awards vest. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the consolidated financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the statement of operations in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby (i) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability. There were no interest and penalties as of December 31, 2021 and 2020. 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. Comparative Information To conform with the current year’s financial statement presentation, the Company reclassified certain professional fees, salaries, and rent expenses related to research and development activities for the year ended December 31, 2020 into research and development expenses line item on the Consolidated Statements of Operations. Such reclassifications were not considered material and did not have any effect on the Company’s net loss for the year ended December 31, 2020. Recently Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes 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 consolidated financial statements as well as material updates to previous assessments. There were no new material accounting standards issued or adopted in year of 2021 that impacted the Company. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021

ACQUISITION

ACQUISITION	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITION	NOTE 4 – ACQUISITION My Health Logic Inc. On November 1, 2021, Marizyme entered into a definitive arrangement agreement with Health Logic Interactive Inc. (“HLII”) pursuant to which the Company would acquire all of the issued and outstanding common shares of My Health Logic, a wholly owned subsidiary of HLII, in exchange for common shares of Marizyme (the “Marizyme Shares”). Marizyme is dedicated to the acceleration, development and commercialization of medical technologies that promote patient health, therefore a strategic decision was made to acquire My Health Logic, which has provided Marizyme with access to MHL’s lab-on-chip technology platform and its patient-centric, digital point-of-care diagnostic device, MATLOC 1; and allowed for further growth and development of Marizyme’s portfolio of medical products. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS On December 22, 2021, Marizyme received the necessary regulatory, court and stock exchange approval to complete the acquisition of MHL resulting in a total of 306,740 Common Shares issued to HLII; 15,334 of these shares are being held and administered by Marizyme to be released to HLII, less any amounts claimed by Marizyme or its affiliates for any losses arising out of certain breaches as set out in the acquisition agreement. This resulted in HLII holding approximately 11.35 % of the total number of issued and outstanding Marizyme Shares (based on 2,702,070 Marizyme Shares issued and outstanding immediately after closing). In accordance with Accounting Standards Codification (“ASC”) 805-10 the substance of a transaction constitutes a business combination as the business of My Health Logic Inc. 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 was based on management’s estimate of fair value of the common shares issued. According to ASC 805 the acquirer has a year from the date of acquisition to recognize measurement period adjustments. While Marizyme does not expect the carrying amount, the fair value, and the estimated useful life of identifiable assets and liabilities acquired, provided below, to change, the tax basis related to these intangible assets is not final and remains preliminary at September 30, 2022. Details of the carrying amount and the fair value of identifiable assets and liabilities acquired and purchase consideration paid were as follows: SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION Consideration given up Common shares $ 7,774,000 Total consideration given up $ 7,774,000 Fair value of identifiable assets acquired, and liabilities assumed Net working deficit $ (613,156 ) Property, plant, and equipment 12,500 Intangible assets 6,600,000 Goodwill 1,774,656 Total identifiable assets $ 7,774,000 As a result of the My Health Logic acquisition, the Company acquired its lab-on-chip technology platform, its patient-centric, digital point-of-care diagnostic device - MATLOC 1 as well as patents rights and trademarks relating to it. In addition, the Company acquired ownership rights to MATLOC patents issued in the European Union, Canada, and the United States. The intangible assets acquired include: ● Trade name, with estimated remaining economic life of 14 ● Software, which enables customers to track and update their test results, with economic life of 15 ● Biotechnology intangible assets related to lab-on-chip technology, with estimated remaining economic life of 17 As part of the acquisition, Marizyme assumed an aggregate of $ 468,137 in notes payable, the notes were unsecured, bore interest at a rate of 9 % per annum with no maturity date. For the three and nine months ended September 30, 2022, Marizyme recognized $ 4,538 and $ 15,124 of interest expense on the notes payable, respectively (September 30, 2021 - $ Nil and $ Nil , respectively). The Company settled an aggregate of $ 278,678 of these notes payable as part of Unit Purchase Agreement issuances during the nine months ended September 30, 2022 (Note 7). As of September 30, 2022, balance of the remaining matured note payable was $ 213,563 (December 31, 2021 - $ 469,252 ). 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 37.5 Pro-forma revenue, net income/(loss), and earnings per share are not presented for this acquisition as they are not material. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	2. Acquisitions ACQUISITION 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 December 31, 2021 and 2020, prepaid royalties were $ 339,091 344,321 Pursuant to the Agreement and in consideration of the outstanding capital stock of Somahlution, Inc., the Company agreed to issue to Somah: ● 666,667 restricted shares of common stock of the Company; ● Warrants to purchase 199,992 restricted common shares of the Company with a strike price of $ 75.00 per common share and a term of 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 266,666 restricted common shares of the Company, with a strike price determined based on the average of the closing prices of the common shares for the 30 calendar days following the date of the public announcement of FDA approval; ○ 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 ○ Grant of rare pediatric voucher warrants to purchase an aggregate of 16,666 commons shares with a term of five years and a strike price determined based on the average of the closing prices of the common shares for the 30 calendar days following the date of the public announcement of FDA approval, and ○ Liquidation preference, up to a maximum of $ 20 15 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. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 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 During the year ended December 31, 2021, for the purposes of the final allocation of the purchase price consideration, contingent consideration was measured as of the date of Somah acquisition - July 31, 2020 and valued at $ 9,926,000 1,387,000 to $ 11,313,000 (Note 1). 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 ● 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. My Health Logic Inc. On November 1, 2021, Marizyme entered into a definitive arrangement agreement with Health Logic Interactive Inc. (“HLII”) pursuant to which the Company will acquire all of the issued and outstanding common shares of My Health Logic Inc. (“My Health Logic” or “MHL”), a wholly owned subsidiary of HLII, in exchange for common shares of Marizyme (the “Marizyme Shares”). Marizyme is dedicated to the acceleration, development and commercialization of medical technologies that promote patient health, therefore a strategic decision was made during the year ended December 31, 2021 to acquire My Health Logic, which have provided Marizyme with access to MHL’s lab-on-chip technology platform and its patient-centric, digital point-of-care screening device, MATLOC 1; and allowed for further growth and development of Marizyme’s portfolio of medical products. On December 22, 2021, Marizyme received the necessary regulatory, court and stock exchange approval to complete the acquisition of MHL resulting in a total of 306,740 Common Shares issued to HLII; 15,334 of these shares are being held and administered by Marizyme to be released to HLII, less any amounts claimed by Marizyme or its affiliates for any losses arising out of certain breaches as set out in the acquisition agreement. This resulted in HLII holding approximately 11.35 % of the total number of issued and outstanding Marizyme Shares (based on 2,702,070 Marizyme Shares issued and outstanding immediately after closing). In accordance with ASC 805-10 the substance of a transaction constitutes a business combination as the business of My Health Logic Inc. 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 issued. According to ASC 805 the acquirer has a year from the date of acquisition to recognize measurement period adjustments. While Marizyme doesn’t expect the carrying amount and the fair value of identifiable assets and liabilities acquired, provided below, to change, the estimates surrounding the useful life of intangible assets acquired may differ from the initial values determined. The change in useful life of the intangible assets will not have a material impact on the net loss for the year ended December 31, 2021. Additionally, The Company is in the process of finalizing the tax basis related to these intangible assets which is not final as of December 31, 2021. Details of the carrying amount and the fair value of identifiable assets and liabilities acquired and purchase consideration paid are as follows: SCHEDULE OF ASSETS AND LIABILITIES ACQUIRED AND PURCHASE CONSIDERATION Consideration given up Common shares $ 7,774,000 Total consideration given up $ 7,774,000 Fair value of identifiable assets acquired, and liabilities assumed Net working deficit $ (613,156 ) Property, plant, and equipment 12,500 Intangible assets 6,600,000 Goodwill 1,774,656 Total identifiable assets $ 7,774,000 As a result of the My Health Logic acquisition, we acquired its lab-on-chip technology platform, its patient-centric, digital point-of-care screening device - MATLOC 1 as well as patents rights and trademarks relating to it. In addition, we acquired ownership rights to MATLOC patents issued in the European Union, Canada, and the United States. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 The intangible assets acquired include: ● Trade name, with estimated remaining economic life of 14 years ● Software, which enables customers to track and update their test results, with economic life of 15 years ● Biotechnology intangible assets related to lab-on-chip technology, with estimated remaining economic life of 17 years As part of the acquisition, Marizyme assumed an aggregate of $ 468,137 9 August 12, 2022 1,115 Nil 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 37.5 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	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Leases
LEASES	NOTE 5 – LEASES On December 11, 2020, the Company entered into a 5.5 10,300 10,800 2.5 12,000 Effective April 1, 2022, the Company amended its lease agreement for administrative office and laboratories to add additional 3,053 15,260 15,641 2.5 12,000 17,500 3.83 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 and nine months ended September 30, 2022 was $ 103,291 324,544 77,357 168,769 The following table summarizes supplemental balance sheet information related to the operating lease as of September 30, 2022, and December 31, 2021: SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITIES September 30, 2022 December 31, 2021 Right-of-use assets $ 1,576,445 $ 1,158,776 Operating lease liabilities, current $ 420,913 $ 277,142 Operating lease liabilities, non-current 1,155,532 881,634 Total operating lease liabilities $ 1,576,445 $ 1,158,776 As of September 30, 2022, the maturities of the lease liabilities for the periods ending December 31 are as follows: SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES 2022 $ 103,291 2023 423,495 2024 434,082 2025 444,934 2026 266,034 Total lease payments 1,671,836 Less: Present value discount (95,391 ) Total $ 1,576,445	3. Leases LEASES On December 11, 2020, the Company entered into a 5.5 10,817 2.5 12,000 4.42 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 %, which is the average commercial interest available to the Company at the time. The following table summarizes supplemental balance sheet information related to the operating lease as of December 31, 2021: SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES December 31, December 31, Right-of-use asset $ 1,158,776 $ 1,317,830 Operating lease liabilities, current $ 277,142 $ 243,292 Operating lease liabilities, non-current 881,634 1,074,538 Total operating lease liabilities $ 1,158,776 $ 1,317,830 As at December 31, 2021, the maturities of the lease liabilities for the periods ended December 31 were as follows: SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES 2022 $ 277,142 2023 277,142 2024 277,142 2025 277,142 Thereafter 130,950 Total lease payments 1,239,518 Less: Present value discount (80,742 ) Total $ 1,158,776

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 6 – 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 DuraGraft As part of Somah acquisition in 2020, Marizyme purchased $ 18,170,000 MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS My Health Logic As part of My Health Logic acquisition (see Note 4), Marizyme purchased MHL’s lab-on-chip technology platform and its patient-centric, digital point-of-care diagnostic device, MATLOC, fair valued at an aggregate amount of $ 6,600,000 SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE September 30, 2022 December 31, 2021 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 Patents in process 122,745 - 122,745 122,745 - 122,745 DuraGraft patent 5,256,000 (875,999 ) 4,380,001 5,256,000 (572,768 ) 4,683,232 DuraGraft - Distributor relationship 308,000 (66,733 ) 241,267 308,000 (43,633 ) 264,367 DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 12,606,000 - 12,606,000 My Health Logic - Trade name 450,000 (24,911 ) 425,089 450,000 (804 ) 449,196 My Health Logic - Biotechnology 4,600,000 (209,706 ) 4,390,294 4,600,000 (6,765 ) 4,593,235 My Health Logic - Software 1,550,000 (80,083 ) 1,469,917 1,550,000 (2,583 ) 1,547,417 Total intangibles $ 53,492,745 $ (1,257,432 ) $ 52,235,313 $ 53,492,745 $ (626,553 ) $ 52,866,192 SCHEDULE OF GOODWILL Goodwill DuraGraft My Health Logic Total Balance, December 31, 2020 $ - $ - $ - Additions on acquisitions 5,416,000 1,774,656 7,190,656 Impairment - - Balance, December 31, 2021 and September 30, 2022 $ 5,416,000 $ 1,774,656 $ 7,190,656 The following changes to the Company’s intangible assets had taken place in the periods indicated: SCHEDULE OF INTANGIBLE ASSETS Balance, December 31, 2020 $ 42,278,211 Acquired in Somah Transaction 4,022,271 Acquired in My Health Logic Transaction 6,600,000 Additions 2,775 Amortization expense (37,065 ) Balance, December 31, 2021 $ 52,866,192 Amortization expense (630,879 ) Balance, September 30, 2022 $ 52,235,313 Future amortizations for DuraGraft and My Health Logic intangible assets for the next five years will be $ 841,172 for each year from 2023 through 2027 and $ 6,700,706 for 2028 and thereafter. Amortization related to the Krillase product and in process research and development will be determined upon the Company achieving commercialization.	4. Intangible Assets and Goodwill 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 . Krillase is a naturally occurring enzyme that acts to break protein bonds and has applications in wound debridement, wound healing, dental care and thrombosis. The useful lives of the intangible assets are based on the life of the patent and related technology. The patents and related technology for Krillase have not been amortized since the acquisition, as they have not yet been put into operations. The Company used the qualitative approach and concluded that it was more-likely-than-not that its Krillase assets were not impaired during the years ended December 31, 2021 and 2020. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 DuraGraft As part of Somah acquisition (Note 2), Marizyme purchased $ 18,170,000 of intangible assets related to the DuraGraft® technology. No impairment has been recognized on DuraGraft intangible assets for the years ended December 31, 2021 and 2020. My Health Logic As part of My Health Logic acquisition (Note 2), Marizyme purchased MHL’s lab-on-chip technology platform and its patient-centric, digital point-of-care screening device, MATLOC 1, fair valued at an aggregate amount of $ 6,600,000 . SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE Intangible Assets December 31, 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 Patents in process 122,745 - 122,745 119,971 - 119,971 DuraGraft patent 5,256,000 (572,768 ) 4,683,232 14,147,729 (589,489 ) 13,558,240 DuraGraft - Distributor relationship 308,000 (43,633 ) 264,367 - - - DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 - - - My Health Logic - Trade name 450,000 (804 ) 449,196 - - - My Health Logic - Biotechnology 4,600,000 (6,765 ) 4,593,235 - - - My Health Logic - Software 1,550,000 (2,583 ) 1,547,417 - - - Total intangible assets $ 53,492,745 $ (626,553 ) $ 52,866,192 $ 42,867,700 $ (589,489 ) $ 42,278,211 SCHEDULE OF GOODWILL Goodwill DuraGraft My Health Logic Total Balance, December 31, 2020 $ - $ - $ - Additions on acquisitions 5,416,000 1,774,656 7,190,656 Impairment - - - Balance, December 31, 2021 $ 5,416,000 $ 1,774,656 $ 7,190,656 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 Acquired in MHL Transaction 6,600,000 Additions 2,775 Amortization expense 1 (37,065 ) Balance, December 31, 2021 $ 52,866,192 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 As the result of the Somah Transaction measurement period adjustments, the Company has recorded amortization expense of $ 37,066 589,489 Future amortizations for DuraGraft and My Health Logic intangible assets for the next five years will be $ 841,172 for each year from 2022 through 2026 and $ 7,331,585 for 2027 and thereafter. Amortization related to in process research and development will be determined upon the Company achieving commercialization.

CONVERTIBLE PROMISSORY NOTES AN

CONVERTIBLE PROMISSORY NOTES AND WARRANTS	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Debt Disclosure [Abstract]
CONVERTIBLE PROMISSORY NOTES AND WARRANTS	NOTE 7 - CONVERTIBLE PROMISSORY NOTES AND WARRANTS May 2021 Unit Purchase Agreement On May 27, 2021, Marizyme entered into a Unit Purchase Agreement to sell up to 266,666 units (the ‘Units’) at a price per Unit of $ 37.50 . Each Unit is comprised of (i) a convertible promissory note convertible into common stock of the Company, (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 1,999 Units at a price of $ 37.50 per Unit for gross proceeds of $ 74,945 , consisting of Notes of $ 74,945 , Class A Warrants for the purchase of 1,999 shares of common stock and Class B Warrants for the purchase of 1,999 shares of common stock. The Company incurred related issuance costs of $ 6,745 which will be amortized over the term of the Notes. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS In July 2021, the Company issued and sold 29,333 Units under the Unit Purchase Program for gross proceeds of $ 1,100,000 . The Units included Notes for $ 1,100,000 , Class A Warrants for 29,333 shares of common stock and Class B Warrants for 29,333 shares of common stock. September 2021 Amended Unit Purchase Agreement On September 29, 2021, due to a lower common stock price, 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 significant changes to the offering: (i) Decreased the offering price under the Unit Purchase Agreement from $ 37.50 per Unit to $ 33.75 per Unit for all future sales under the Unit Purchase Agreement. No proceeds from the initial investment were returned. (ii) Decreased the conversion price from $ 37.50 per share to $ 33.75 per share for all current Unit holders and all future investors (iii) Cancelled all Class A Warrants and Class B Warrants and replaced them with Class C Warrants. December 2021 Unit Purchase Agreement On December 21, 2021, the Company entered into a Unit Purchase Agreement (the “December UPA”) to sell up to 647,619 Units at a price per unit of $ 26.25 . Each Unit is comprised of (i) a convertible promissory note convertible into common stock of the Company at an initial conversion price of $26.25 and, (ii) a warrant to purchase two shares of Common Stock at an initial purchase price of $33.75 per share (the new Class C Warrant) . Under this December UPA, the Company issued and sold 228,571 Units at a per unit purchase price of $ 26.25 , for gross proceeds of $ 6,000,000 . Coinciding with this December UPA, the Company also entered into an Exchange Agreement with the existing Unit holders (the December 2021 Exchange Agreements, as further described below). December 2021 Exchange Agreements On December 21, 2021, in conjunction with a $ 6.0 (i) Decreased the offering price under the Unit Purchase Agreement from $ 33.75 per Unit to $ 26.25 per Unit. Outstanding principal and accrued interest were used to purchase Units at the new per unit price. (ii) Extended the maturity date of the notes to December 21, 2023 (iii) Decreased the conversion price from $ 33.75 per share to $26.25 per share for the New Units. (iv) Original Class C Warrants were exchanged for New Class C warrants with an exercise price of $ 33.75 per share (unchanged) and a five-year life measured from the date of the Exchange Agreement. The decrease in the Unit price also resulted in additional number of New Class C Warrants being issued in exchange for the Original Class C Warrants due to the 200 % warrant coverage provided for in the Unit Purchase Agreement. The Company determined that the terms of the New Securities were substantially different from the Original Securities, and, as such the exchange of the Original Securities for the New Securities was accounted for as an extinguishment of debt on December 21, 2021, and the New Securities accounted for as a new debt issuance. As a result of this substantial modification, the total of 42,889 Units previously issued were replaced with an aggregate of 55,463 pro-rata Units. During the nine months ended September 30, 2022, the Company issued additional 278,658 units under the New Securities agreement for the gross proceeds of $ 7,315,138 . Of the total 278,658 Units issued: (i) 10,615 Units were issued to settle notes payable assumed on acquisition of My Health Logic (see Note 4), (ii) 1,523 Units were issued to settle accounts payable, and (iii) 11,428 Units were issued in exchange for services rendered to the Company in the nine months ended September 30, 2022. 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. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The fair value of the warrants issued in the nine months ended September 30, 2022, of $ 4,341,042 4,299,649 2,438,379 2,485,346 During the three and nine months ended September 30, 2022, the Company recognized interest and accretion expense of $ 805,849 1,622,730 70,221 74,410 As of September 30, 2022 and December 31, 2021, the Company had the following convertible notes, net of debt discount outstanding: SCHEDULE OF CONVERTIBLE NOTES Convertible Notes, Net of Debt Discount Balance, December 31, 2021 $ 26,065 Convertible notes issued - new securities 7,315,138 Issuance costs (535,717 ) Debt discount (6,779,421 ) Debt accretion 1,622,730 Balance, September 30, 2022 $ 1,648,795 SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT September 30, 2022 December 31, 2021 Convertible notes - total principal $ 14,771,177 $ 7,482,104 Unamortized issuance costs and discount (13,122,382 ) (7,456,039 ) Convertible notes, net of debt discount $ 1,648,795 $ 26,065 Convertible Notes Terms 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 . The Convertible Notes principal and accrued interest can be converted at any time at the option of the holder at a conversion price of $26.25 per share (previously $33.75 per the September 2021 Amendment and originally $37.50 per the May Unit Purchase Agreement) . In the event the Company consummates, while the Convertible Note is outstanding, an equity financing with a gross aggregate amount of securities sold of not less than $ 10,000,000 (“Qualified Financing”), then all outstanding principal, together with all unpaid accrued interest under the Convertible Notes, shall automatically convert into shares of the equity financing at the lesser of (i) 75 % of the cash price per share paid in the financing and the conversion price of $ 26.25 per unit. The Convertible Notes are secured by a first priority security interest in all assets of the Company. New Class C Warrants Terms ● Exercise price is the lower of (i) $ 33.75 per share, or (ii) the Automatic Conversion Price (the lesser of (i) 75 % of the cash price per share paid by the other purchasers of next round securities in the Qualified Financing and (ii) the Conversion Price ($ 33.75 , subject to Customary Antidilution Adjustments). ● Exercisable for a period of 5 ● Warrant Coverage: 200	6. Convertible Promissory Notes and Warrants CONVERTIBLE PROMISSORY NOTES AND WARRANTS May 2021 Unit Purchase Agreement On May 27, 2021, Marizyme entered into a Unit Purchase Agreement to sell up to 266,666 units (the ‘Units’) at a price per Unit of $ 37.50 . Each Unit is comprised of (i) a convertible promissory note convertible into common stock of the Company, (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 1,999 Units at a price of $ 37.50 per Unit for gross proceeds of $ 74,945 , consisting of Notes of $ 74,945 , Class A Warrants for the purchase of 1,999 shares of common stock and Class B Warrants for the purchase of 1,999 shares of common stock. The Company incurred related issuance costs of $ 6,745 which will be amortized over the term of the Notes. In July 2021, the Company issued and sold 29,333 Units under the Unit Purchase Program for gross proceeds of $ 1,100,000 . The Units included Notes for $ 1,100,000 , Class A Warrants for 29,333 shares of common stock and Class B Warrants for 29,333 shares of common stock. September 2021 Amended Unit Purchase Agreement On September 29, 2021, due to a lower common stock price, 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 significant changes to the offering: (iv) Decreased the offering price under the Unit Purchase Agreement from $ 37.50 per Unit to $ 33.75 per Unit for all future sales under the Unit Purchase Agreement. No proceeds from the initial investment were returned. (v) Decreased the conversion price from $ 37.50 per share to $ 33.75 per share for all current Unit holders and all future investors. (vi) Cancelled all Class A Warrants and Class B Warrants and replaced them with Class C Warrants. December 2021 Unit Purchase Agreement On December 21, 2021, the Company entered into a Unit Purchase Agreement (the “December UPA”) to sell up to 647,169 Units at a price per unit of $ 26.25 . Each Unit is comprised of (i) a convertible promissory note convertible into common stock of the Company at an initial conversion price of $26.25 and, (ii) a warrant to purchase two shares of Common Stock at an initial purchase price of $33.75 per share (the new Class C Warrant) . Under this December UPA, the Company issued and sold 228,571 Units at a per unit purchase price of $ 26.25 , for gross proceeds of $ 6,000,000 . Coinciding with this December UPA, the Company also entered into an Exchange Agreement with the existing Unit holders (the December 2021 Exchange Agreements, as further described below). December 2021 Exchange Agreements On December 21, 2021, in conjunction with a $ 6.0 (v) Decreased the offering price under the Unit Purchase Agreement from $ 33.75 per Unit to $ 26.25 per Unit. Outstanding principal and accrued interest were used to purchase Units at the new per unit price. (vi) Extended the maturity date of the notes to December 21, 2023 (vii) Decreased the conversion price from $ 33.75 per share to $ 26.25 per share for the New Units. (viii) Original Class C Warrants were exchanged for New Class C warrants with an exercise price of $ 33.75 per share (unchanged) and a five-year life measured from the date of the Exchange Agreement. The decrease in the Unit price also resulted in additional number of New Class C Warrants being issued in exchange for the Original Class C Warrants due to the 200 % warrant coverage provided for in the Unit Purchase Agreement. The Company determined that the terms of the New Securities were substantially different from the Original Securities, and, as such the exchange of the Original Securities for the New Securities was accounted for as an extinguishment of debt on December 21, 2021, and the New Securities accounted for as a new debt issuance. As a result of this substantial modification, the total of 42,889 Units previously issued were replaced with an aggregate of 55,463 pro-rata Units and a loss on debt extinguishment of $ 663,522 was recorded in consolidated statements of operations for the year ended December 31, 2021 (2020 - $ Nil ). 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 fair value of the warrants of $ 4,299,649 2,485,346 MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 During the year ended December 31, 2021, the Company recognized interest and accretion expense of $ 116,676 Nil SCHEDULE OF CONVERTIBLE NOTES December 31, 2021 December 31, 2020 Convertible notes issued - original securities $ 1,174,945 $ - Issuance costs (105,745 ) - Debt discount (964,153 ) - Debt accretion 90,611 - Extinguishment of debt in connection with December 2021 Exchange Agreements (195,658 ) - Convertible notes issued - new securities, outstanding at December 31, 2021 7,456,039 - Issuance costs (671,044 ) Debt discount (6,784,995 ) - Debt accretion 26,065 - Convertible notes, net of debt discount $ 26,065 $ - Convertible Notes Terms 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 . The Convertible Notes principal and accrued interest can be converted at any time at the option of the holder at a conversion price of $26.25 per share (previously $33.75 per the September 2021 Amendment and originally $37.50 per the May Unit Purchase Agreement) . In the event the Company consummates, while the Convertible Note is outstanding, an equity financing with a gross aggregate amount of securities sold of not less than $ 10,000,000 (“Qualified Financing”), then all outstanding principal, together with all unpaid accrued interest under the Convertible Notes, shall automatically convert into shares of the equity financing at the lesser of (i) 75 % of the cash price per share paid in the financing and the conversion price of $ 26.25 per unit. The Convertible Notes are secured by a first priority security interest in all assets of the Company. New Class C Warrants Terms ● Exercise price is the lower of (i) $ 33.75 per share, or (ii) the Automatic Conversion Price (the lesser of (i) 75 % of the cash price per share paid by the other purchasers of next round securities in the Qualified Financing and (ii) the Conversion Price ($ 33.75 , subject to Customary Antidilution Adjustments). ● Exercisable for a period of 5 ● Warrant Coverage: 200

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 8 – 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 20,000,000 shares of common stock with a par value of $ 0.001 . MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS On August 1, 2022, the Board of Directors (the “Board”) of Marizyme approved a reverse stock split of the Company’s authorized and outstanding common stock at a ratio of 1-for-4. On August 3, 2022, the Company effected the reverse stock split by filing a Certificate of Change with the Secretary of State of the State of Nevada. As a result, the total number of shares of common stock held by each stockholder was converted automatically into the number of whole shares of common stock equal to the number of issued and outstanding shares of common stock held by such stockholder immediately prior to the reverse stock split, divided by four, subject to rounding of fractional shares. The Company expects that the reverse stock split will be reflected in the trading price of the common stock after the Financial Industry Regulatory Authority, Inc. (“FINRA”) completes its processing of the reverse stock split, which is expected to be the date on which the common stock is listed on the Nasdaq Capital Market tier operated by Nasdaq in the event that the Company’s listing application to Nasdaq is approved. As a result of the reverse stock split, there are approximately 2,722,070 shares of common stock outstanding, not including the shares of common stock included in the units that the Company expects to issue in this public offering or upon any exercise of the Over-Allotment Option or of any warrants included in the units issued to investors or of the representative’s warrant. No fractional shares have been or will be issued, and no cash or other consideration has been or will be paid. Instead, the Company issued one whole share of the post-reverse stock split common stock to any stockholder who otherwise would have received a fractional share as a result of the reverse stock split. The Company’s existing shareholders’ percentage ownership interests in the Company remains the same following the reverse stock split (subject to rounding of fractional shares). As of September 30, 2022, and December 31, 2021, there were 2,722,070 and 2,702,070 shares of common stock issued and outstanding, respectively. During the nine months ended September 30, 2022, the Company issued 20,000 shares of common stock for exercise of warrants. c) Options On May 18, 2021, the Company’s Board of Directors approved the Marizyme, Inc. Amended and Restated 2021 Stock Incentive Plan (“SIP”). The SIP incorporates stock options issued prior to May 18, 2021. The SIP authorized 353,333 options for issuance. As of September 30, 2022, there remains 91,615 options available for issuance. During the nine months ended September 30, 2022, the Company granted 26,664 (December 31, 2021 – 59,998 ) share purchase options to directors of the Company. The summary of option activity for the six months ended September 30, 2022, is as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Contractual Life Total Intrinsic Value Outstanding at December 31, 2020 253,387 $ 20.40 8.82 Granted 102,166 22.65 Forfeited (112,166 ) 20.40 Outstanding at December 31, 2021 243,387 $ 18.60 8.34 $ 1,951,117 Granted 26,664 33.00 9.69 - Forfeited (8,333 ) 18.75 8.08 81,250 Outstanding at September 30, 2022 261,718 20.00 7.79 2,344,489 Exercisable at September 30, 2022 203,371 $ 17.55 7.35 $ 2,256,558 As of September 30, 2022, the Company had the following options outstanding: SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE Exercise Price Number of Options Outstanding Number of Options Exercisable Weighted Average Remaining Contractual Years Intrinsic Value $ 15.15 132,391 132,391 6.68 $ 1,767,489 18.75 35,998 34,981 8.41 351,000 20.55 13,333 13,333 7.88 106,000 26.25 53,332 18,666 9.16 120,000 33.00 26,664 4,000 9.69 - $ 19.95 261,718 203,371 7.79 $ 2,344,489 d) Restricted Share Units As of September 30, 2022, the Company determined that the following performance condition attached to the restricted share awards granted in the fiscal 2021 were more likely than not to have been achieved: ● The Company will raise financing for the gross proceeds that equal or exceed $ 5,000,000 ● The Company will complete valuation reports for acquisition of Somah and My Health Logic. Therefore, compensation cost of $ 295,750 Nil MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS e) Warrants As of September 30, 2022 and December 31, 2021, there were 1,397,948 and 809,636 warrants outstanding, respectively. SCHEDULE OF WARRANTS OUTSTANDING Number Weighted Average Price December 31, 2020 226,232 $ 69.45 Issued pursuant to Unit Purchase Agreement 568,074 33.75 Issued 15,330 20.85 December 31, 2021 809,636 $ 43.50 Issued pursuant to Unit Purchase Agreement 557,328 33.75 Issued 58,558 17.40 Exercised (20,000 ) 0.15 Expired (7,574 ) 45.00 September 30, 2022 1,397,948 $ 39.13 During the nine months ended September 30, 2022, the Company issued the following: On January 26 and February 14, 2022, in exchange for services of Mr. Richmond, the Company granted him 20,000 warrants to purchase an aggregate 20,000 shares of Marizyme’s common stock at an exercise price of $ 0.15 per share. The warrants issued had an average term of 5 years, vested immediately, and were fair valued at $ 568,677 and recorded in salary expense in the condensed consolidated statements of operations for the nine months ended September 30, 2022. On March 15, 2022, Mr. Richmond exercised 20,000 warrants issued to him. On June 26, 2022, the Company issued additional 23,135 warrants to Mr. Richmond and 15,423 warrants to Univest Securities, LLC to purchase an aggregate 38,558 shares of Marizyme’s common stock at an exercise price of $ 26.25 per share. The warrants issued had an average term of 5 years, vested immediately, and were fair valued at $ 1,281,854 , of which $ 769,113 was recorded in salary expense and $ 512,471 in professional fees in the condensed consolidated statements of operations for the nine months ended September 30, 2022. In the nine months ended September 30, 2022, pursuant to the Unit Purchase Agreement the Company issued an aggregate of 557,328 additional New Class C warrants with an exercise price of $ 33.75 share and a term of five years . f) Stock-based compensation During the three and nine months ended September 30, 2022, the Company recorded $ 271,517 1,664,191 64,074 626,449 1,323,100 1.71	7. Stockholders’ Equity 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 20,000,000 shares of common stock with a par value of $ 0.001 . As of December 31, 2021 there were 2,702,070 shares of common stock issued and outstanding (2020 – 2,395,330 ). During the year ended December 31, 2021, the Company had the following share issuances: ● On December 22, 2021, the Company issued 306,740 pursuant to the My Health Logic transaction completion (Note 2). During the year end December 31, 2020, the Company issued the following: ● On January 9, 2020, the Company settled trade payables of $ 126,250 through the issuances of 8,334 shares of common stock. ● On April 6, 2020, the Company settled trade payables of $ 161,600 through the issuances of 10,667 shares of common stock. ● On April 6, 2020, the Company issued 334 shares of common stock to a director on exercise of stock options. ● On April 6, 2020, the Company issued 1,000 shares of common stock to a consultant in exchange for services rendered in the amount of $ 15,150 . ● On June 8, 2020, the Company settled trade payables of $ 20,200 through the issuances of 1,334 shares of common stock. ● On July 28, 2020, the Company issued 4,271 shares of common stock on the conversion of $ 59,453 of debt. ● On July 28, 2020, the Company issued 1,334 shares of common stock valued at $ 25,000 to a consultant for services rendered. ● On July 31, 2020, the Company completed the Soma Acquisition (Note 2) whereas 666,667 shares of common stock were issued, fair valued at $ 12,500,000 . MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 ● On August 3, 2020, the Company completed an initial closing of a private placement pursuant to which the Company sold and issued an aggregate of 307,333 shares of its common stock at a purchase price of $ 18.75 per share. In consideration for services rendered as the placement agent in the private placement, the Company paid Univest Securities LLC cash commissions totaling $460,999, or 8% of the gross proceeds of the private placement closing, a 1% non-accountable expense allowance totaling $57,625, and the $31,250 balance (of a total of $37,500) due to the placement agent in advisory fees . Additionally, the Company issued to the placement agent a five -year warrant to purchase an aggregate of 15,300 shares of the Company’s Common Stock at an exercise price of $ 20.63 per share. The warrant, for which the placement agent paid the Company $ 100 , may be exercised on a cashless basis. ● On September 1, 2020, the Company issued 2,667 restricted shares of common stock to Bruce Harmon, the former chief financial officer of the Company. ● On September 25, 2020, the Company closed on the second tranche of funding in the gross amount of $ 1,237,760 in exchange for 66,014 shares of common stock. The net amount received by the Company was $ 1,116,566 . ● On October 1, 2020, the Company entered into a consulting agreement which had various compensation requirements, including the issuance of 1,334 shares of common stock (valued at $ 18.75 per share) and 2,424 warrants with an exercise price of $ 20.63 . c) Options On May 18, 2021, our Board of Directors approved the Marizyme, Inc. Amended and Restated 2021 Stock Incentive Plan (“SIP”). The SIP incorporates stock options issued prior to May 18, 2021. The SIP authorized 353,333 options for issuance. As of December 31, 2021, there remains 109,946 options available for issuance. During the year ended December 31, 2021, the company granted 102,166 (2020 – 89,333 ) share purchase options to directors, officers, employees, and consultants of the Company. The weighted-average assumptions used to estimate the fair value of stock options using the Black-Scholes option valuation model were as follows: SCHEDULE OF SHARES BASED STOCK OPTION VALUATION ASSUMPTIONS 2021 2020 Risk-free interest rate 1.09 % 0.93 % Volatility 252.08 % 241.88 % Exercise price $ 22.65 $ 20.55 Dividend yield 0 % 0 % Forfeiture rate 0 % 0 % Expected life (years) 6.38 10.00 The Company recognizes forfeitures as they occur. The summary of option activity for the years ended December 31, 2021 and 2020 was as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Contractual Life Total Intrinsic Value Outstanding at December 31, 2019 180,991 $ 22.50 9.48 Granted 89,333 18.75 Exercised (16,937 ) 15.30 Outstanding at December 31, 2020 253,387 $ 20.40 8.82 Granted 102,166 22.65 Forfeited (112,166 ) 20.40 Outstanding at December 31, 2021 243,387 $ 18.60 8.34 $ 1,951,117 Exercisable at December 31, 2021 159,958 $ 16.05 7.70 $ 1,685,099 As of December 31, 2021, the Company had the following options issued and outstanding: SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE Exercise Price Number of Options Outstanding Number of Options Exercisable Weighted Average Remaining Contractual Years Intrinsic Value $ 15.15 132,388 132,398 7.43 $ 1,509,317 18.75 44,333 14,228 9.09 110,983 20.55 13,333 10,666 8.63 64,000 26.25 53,333 2,666 9.84 800 $ 18.60 243,387 159,958 8.34 $ 1,951,117 MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 d) Restricted Share Units During the year ended December 31, 2021, the Company granted restricted share awards for an aggregate of 23,333 Nil Nil Nil e) Warrants SCHEDULE OF WARRANTS OUTSTANDING Number Weighted Average Price December 30, 2019 7,574 $ 45.00 Issued on Somah acquisition 199,992 75.00 Issued 18,666 20.70 December 30, 2020 226,232 $ 69.45 Issued pursuant to Unit Purchase Agreement 568,074 33.75 Issued 15,330 20.85 December 31, 2021 809,636 $ 43.50 During the year ended December 31, 2021, the Company issued the following: Unit Purchase Agreements Warrants Pursuant to the May Unit Purchase Agreement (Note 6) the Company issued: (i) Class A Warrants for the purchase an aggregate of 31,332 shares of common stock, with a strike price of $ 46.92 per share and a term of five years , and (ii) Class B Warrants for the purchase an aggregate of 31,332 shares of common stock with a strike price of $ 75.00 per share and a term of five years . On September 29, 2021, pursuant to the September 2021 Amended Unit Purchase Agreement, all Class A and Class B warrants were replaced with an aggregate of 72,598 pro-rata Class C warrants. The warrants had a strike price of 33.75 per share and a term of five years . On December 2, 2021, the Company issued additional 13,186 Class C warrants with the terms and conditions stipulated in the September 2021 Amended Unit Purchase Agreement. On December 21, 2021, pursuant to the December 2021 Exchange Agreements (Note 6) all previously issued Original Class C warrants were replaced with an aggregate of 110,932 pro-rata New Class C warrants with an exercise price of $ 33.75 per share (unchanged) and a five-year life measured from the date of the December 2021 Exchange Agreements. The decrease in the Unit price also resulted in additional number of New Class C Warrants being issued in exchange for the Original Class C Warrants due to the 200% warrant coverage provided for in the Unit Purchase Agreement. On December 21, 2021, pursuant to the December 2021 Unit Purchase Agreement the Company issued additional 457,142 New Class C warrants with an exercise price of $ 33.75 per share and a term of five years . The detachable warrants issued were accounted for as an equity instrument and were ascribed an aggregate fair market value of $ 4,447,982 Other Warrants 15,330 shares of common stock for a settlement and services rendered. The warrants issued have an average strike price of $ 20.85 per share and an average term of 4.74 years, were fair valued at $ 368,287 and recorded in professional fees and salary expense in the consolidated Statements of Operations for the year ended December 31, 2021. During the year end December 31, 2020, the Company issued the following: On July 31, 2020, the Company completed the Somah Acquisition (Note 2) whereas 666,667 shares of common stock and 199,992 warrants were issued. The warrants have a strike price of $ 75.00 per share and a term of five years . The valuation of the warrants granted was completed during the year ended December 31, 2021, and the fair market value was determined to be $ 6.00 per share or $ 1,200,000 . On September 25, 2020, the Company issued two warrants for services. The warrants were to purchase 11,200 and 7,466 shares with a strike price of $ 20.63 and a term of five years . The fair market value was determined to be $ 13.59 per share or $ 152,249 and $ 101,500 , respectively, or $ 253,749 , collectively. f) Stock-based compensation During the year ended December 31, 2021, the Company recorded $ 865,111 in non-cash share-based compensation (2020 - $ 1,833,292 ). Additionally, the Company recognized $ 33,333 of stock-based compensation on restricted common stock in the year ended December 31, 2021.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS As at September 30, 2022, the Company owed an aggregate of $ 123,266 1,132,634 ● The Company received consulting services from Mr. Maresca and pursuant to the agreement incurred $ 240,000 300,000 121,316 In the nine months ended September 30, 2022, the Company incurred and settled additional $ 133,797 149,178 Additionally, as part of the Somah acquisition in 2020, the Company recorded a prepaid royalty to the shareholders of Somahlution. The primary beneficial owner is Dr. Vithal Dhaduk, currently a director, and significant shareholder of the Company. As at September 30, 2022, the Company had $ 339,091 339,091 MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	8. Related Party Transactions RELATED PARTY TRANSACTIONS As at December 31, 2021, the Company owed an aggregate of $ 1,132,634 Nil i. During the year ended December 31, 2021, the Company entered into a promissory note agreement with Brad Richmond, a related party and former acting Vice President of Finance, for the total proceeds of $ 168,907 Nil 368,500 168,907 Nil MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 ii. During the year ended December 31, 2021, the Company entered into a promissory note agreement with Frank Maresca, a related party and shareholder of the Company, for the total proceeds of $ 95,000 (2020 - $ Nil ). The note bears no interest, unsecured, and has no terms of repayment. The Company also received consulting services from Mr. Maresca, and pursuant to the agreement incurred $ 360,000 in professional expenses for the year ended December 31, 2021 (2020 - $ 180,000 ). Mr. Maresca also incurred $ 198,841 in administrative and general expenses on behalf of the Company. As at December 31, 2021, the Company owes Mr. Maresca a total of $ 871,371 for the promissory note, consulting services and expenses reimbursement (December 31, 2020 - $ Nil ). iii. The Company received consulting services from other shareholders, consultants, and related parties of the Company, and pursuant to the various agreements incurred an aggregate $ 50,400 Nil 41,956 92,356 Additionally, as part of the Somah transaction in 2020 (Note 2), the Company recorded a prepaid royalty to the shareholders of Somahlution. The primary beneficial owner is Dr. Vithal Dhaduk, a director and significant shareholder of the Company. As at December 31, 2021, the company had $ 339,091 in prepaid royalties (2020 - $ 344,321 ) which had been classified as non-current in the consolidation balance sheets.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 – COMMITMENTS AND CONTINGENCIES Legal Matters On August 19, 2021, Dr. Neil Campbell, former President, Chief Executive Officer and director of the Company, and Bruce Harmon, former Chief Financial Officer and Secretary of the Company, each filed a Complaint and Demand for Jury Trial against the Company and Insperity Peo Services, L.P., a Delaware limited partnership (“Insperity”), a joint employer of Dr. Campbell and Mr. Harmon with the Company under a Client Service Agreement, dated November 30, 2020 (collectively, the “Campbell/Harmon Complaints”). Both Campbell/Harmon Complaints allege that the Company and Insperity violated Section 448.105 of the Florida Private Whistleblower Act as a result of the constructive terminations of Dr. Campbell and Mr. Harmon after the occurrence of violations federal and state law, including federal securities law, at the Company that exposed Dr. Campbell and Mr. Harmon to civil and criminal forms of liability and that the Company was not addressing to their satisfaction. Both Campbell/Harmon Complaints demand approximately $ 30,000 50,000 Contingencies a. On July 13, 2019, the Company signed a consulting agreement, whereby the individual will receive: ● $ 30,000 ● Option to purchase 16,666 of common stock at a strike price of $ 22.50 , which vest monthly through July 13, 2021. The vesting of these options was accelerated by the Board on September 2, 2020. ● Royalties based on sales of Krillase assets, equal to 10 b. As part of the DuraGraft Acquisition, completed on July 31, 2020, the Company entered into the Agreement with Somah stockholders, whereby Marizyme is legally obligated to pay royalties on all net sales for Somah, 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. During the nine months ended September 30, 2022, 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. Upon receiving FDA clearance for the DuraGraft product, the Company will: ● Issue performance warrants with a strike price determined based on the average of the closing prices of the Company’s common stock for the 30 calendar days following the date of the public announcement of the FDA approval; and ● Upon liquidation of all or substantially all of the assets relating to DuraGraft, the Company will pay 15 20 c. The Company has entered into arrangements for office and laboratories spaces. As of September 30, 2022, minimum lease payments in relation to lease commitments are payable as described in Note 5. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Risks and Uncertainties Starting in late 2019, a novel strain of the coronavirus, or COVID-19, began to rapidly spread around the world and every state in the United States. At this time, there continues to be significant volatility and uncertainty relating to the full extent to which the COVID-19 pandemic and the various responses to it will impact the Company’s business, operations and financial results. Most states and cities have at various times instituted quarantines, restrictions on travel, “stay at home” rules, social distancing measures and restrictions on the types of businesses that could continue to operate, as well as guidance in response to the pandemic and the need to contain it. As a result, the COVID-19 pandemic may affect the operations of the FDA and other health authorities, including such authorities in Europe, which could result in delays of reviews and approvals. While there have been no specific notices of delay from federal or foreign government authorities, potential interruptions, delays, or changes to the operations of the FDA, or of any foreign authority with which the Company might interact, might impact the approval of any applications the Company plans and will need to file in the future. In addition, the Company is dependent upon certain contract manufacturers and suppliers and their ability to reliably and efficiently fulfill orders is critical to our business success. The COVID-19 pandemic has impacted and may continue to impact certain manufacturers and suppliers. As a result, the Company has have faced and may continue to face delays or difficulty sourcing certain products, which could negatively affect its business and financial results. The spread of COVID-19 has also adversely impacted global economic activity and has contributed to significant volatility and negative pressure in financial markets. The pandemic has resulted, and may continue to result, in a significant disruption of global financial markets, which may reduce the Company’s ability to access capital in the future, which could negatively affect its liquidity. If the COVID-19 pandemic does not continue to slow and the spread of COVID-19 is not contained, the Company’s business operations, including those of contract manufacturers, could be further delayed or interrupted. The duration of any business disruption cannot be reasonably estimated at this time but may materially affect the Company’s ability to operate its business and result in additional costs. It is not possible to reliably measure or quantify the impact COVID-19 has had on the financial results of the Company. If the COVID-19 pandemic continues for an extended period, it may materially adversely impact business operations and, consequently, future financial results.	9. Commitments and Contingencies COMMITMENTS AND CONTINGENCIES Legal Matters Dr. Vithal D. Dhaduk (“Dhaduk”), former Interim CEO of Marizyme and a co-founder of Somahlution, LLC, 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 On August 19, 2021, Dr. Neil Campbell, former President, Chief Executive Officer and director of the Company, and Bruce Harmon, former Chief Financial Officer and Secretary of the Company, each filed a Complaint and Demand for Jury Trial against the Company and Insperity Peo Services, L.P., a Delaware limited partnership (“Insperity”), a joint employer of Dr. Campbell and Mr. Harmon with the Company under a Client Service Agreement, dated November 30, 2020 (collectively, the “Campbell/Harmon Complaints”). Both Campbell/Harmon Complaints allege that the Company and Insperity violated Section 448.105 of the Florida Private Whistleblower Act as a result of the constructive terminations of Dr. Campbell and Mr. Harmon after the occurrence of violations federal and state law, including federal securities law, at the Company that exposed Dr. Campbell and Mr. Harmon to civil and criminal forms of liability and that the Company was not addressing to their satisfaction. Both Campbell/Harmon Complaints demand approximately $ 30,000 50,000 Contingencies a. On July 13, 2019, the Company signed a consulting agreement, whereby the individual will receive: ● $ 30,000 ● Option to purchase 16,666 shares of common stock at a strike price of $ 22.50 , which vest monthly through July 13, 2021. The vesting of these options was accelerated by the Board of Directors on September 2, 2020. ● Royalties based on sales of Krillase assets, equal to 10 b. As part of the DuraGraft Acquisition, completed on July 31, 2020 (Note 2), 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 MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 Royalties on sales outside of the U.S.: ● 6 ● 4 ● 2 The royalties are in perpetuity. As at December 31, 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 year. Upon receiving FDA approval for the DuraGraft product, the Company will: ● Issue performance warrants with a strike price determined based on the average of the closing prices of the Company’s common stock for the 30 calendar days following the date of the public announcement of the FDA approval; and ● Upon liquidation of all or substantially all of the assets relating to DuraGraft, the Company will pay 15 20 c. The Company has entered into arrangements for office and laboratories spaces. As at December 31, 2021, minimum lease payments in relation to lease commitments are payable as described in Note 3. Risks and Uncertainties Starting in late 2019, a novel strain of the coronavirus, or COVID-19, began to rapidly spread around the world and every state in the United States. At this time, there continues to be significant volatility and uncertainty relating to the full extent to which the COVID-19 pandemic and the various responses to it will impact our business, operations and financial results. Most states and cities have at various times instituted quarantines, restrictions on travel, “stay at home” rules, social distancing measures and restrictions on the types of businesses that could continue to operate, as well as guidance in response to the pandemic and the need to contain it. As a result, the COVID-19 pandemic may affect the operations of the FDA and other health authorities, including such authorities in Europe, which could result in delays of reviews and approvals. While there have been no specific notices of delay from federal or foreign government authorities, potential interruptions, delays, or changes to the operations of the FDA, or of any foreign authority with which we might interact, might impact the approval of any applications we plan and will need to file in the future. In addition, we are dependent upon certain contract manufacturers and suppliers and their ability to reliably and efficiently fulfill our orders is critical to our business success. The COVID-19 pandemic has impacted and may continue to impact certain of our manufacturers and suppliers. As a result, we have faced and may continue to face delays or difficulty sourcing certain products, which could negatively affect our business and financial results. The spread of COVID-19 has also adversely impacted global economic activity and has contributed to significant volatility and negative pressure in financial markets. The pandemic has resulted, and may continue to result, in a significant disruption of global financial markets, which may reduce our ability to access capital in the future, which could negatively affect our liquidity. If the COVID-19 pandemic does not continue to slow and the spread of COVID-19 is not contained, our business operations, including those of contract manufacturers, could be further delayed or interrupted. The duration of any business disruption cannot be reasonably estimated at this time but may materially affect our ability to operate our business and result in additional costs. It is not possible to reliably measure or quantify the impact COVID-19 has had on the financial results of the Company. If the COVID-19 pandemic continues for an extended period, it may materially adversely impact business operations and, consequently, future financial results. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS The Financial Industry Regulatory Authority, Inc. (“FINRA”) Staff determined that certain securities previously received by each of Univest Securities, LLC (“Univest”) and Bradley Richmond, a registered representative of Univest, in connection with the following transactions with the Company constituted underwriting compensation in connection with the Company’s anticipated public offering pursuant to FINRA Rule 5110, based on the FINRA Staff’s interpretation of such rule: (a) the Company’s Units Private Placement conducted between May 2021 and August 2022, (b) the My Health Logic acquisition, (c) a consulting agreement that the Company entered into with Mr. Richmond in September 2020, and (d) a stock option exercisable for 18,249 shares of common stock received by Mr. Richmond from one of the Company’s former executives in March 2022. Consequently, each of Univest and Mr. Richmond, pursuant to a letter agreement entered into with the Company (the “October 2022 Letter Agreement”), agreed to forego their applicable rights to an aggregate of 111,091	11. Subsequent Events SUBSEQUENT EVENTS We evaluated subsequent events through the date on which the consolidated financial statements were issued and except as noted below, no events require recognition or disclosure. Subsequent to the year ended December 31, 2021, we conducted the following additional closings of our units private placement in which we accepted the indicated non-cash forms of consideration in exchange for units in the private placement: ● On January 13, 2022, we issued to a consultant 1,523 units at a price of $ 26.25 per unit in exchange for their services. The units consist of Convertible Notes in the aggregate principal amount of $ 40,000 and Class C warrants for the purchase of 3,047 shares of our common stock. ● On January 24, 2022, we issued to two unrelated investors a total of 10,615 units at a price of $ 26.25 per unit in exchange for the assumption, cancellation, and conversion of principal notes of our subsidiary My Health Logic. The units consist of Convertible Notes in the aggregate principal amount of $ 278,678 and Class C warrants for the purchase of 21,231 shares of our common stock. ● On January 24, 2022, we issued to the representative and its designee, Bradley Richmond, our former licensing and market advisor and former Acting Vice President of Finance, a total of 11,428 units at a price of $ 26.25 per unit in exchange for services provided to us in connection with our acquisition of My Health Logic. The units consist of Convertible Notes in the aggregate principal amount of $ 300,000 and Class C warrants for the purchase of 22,856 shares of our common stock. ● On January 26 and February 14, 2022, in exchange for services of Mr. Richmond, we granted to him 20,000 warrants to purchase an aggregate 20,000 shares of our common stock at an exercise price of $ 0.15 per share. On March 15, 2022, Mr. Richmond exercised 20,000 of warrants issued to him subsequently to the year end, upon which Marizyme issued to Mr. Richmond 20,000 shares of common stock.

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	5. Accounts Payable and Accrued Expenses ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses, summarized by major category, as of December 31, 2021 and 2020 consists of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES December 31, 2021 December 31, Trade accounts payable $ 1,465,860 $ 325,830 Accrued expenses 8,215 21,555 Accrued compensation expenses 122,072 130,718 Total accounts payable and accrued expenses $ 1,596,147 $ 478,103 MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	10. Income Taxes INCOME TAXES The Company is subject to income taxes on an entity basis on income arising in or derived from the tax jurisdiction in which each entity is domiciled. The Company is subject to taxation in the US and Canada. The following table provides a breakdown of net loss between domestic and foreign jurisdictions for the years ended December 31, 2021 and 2020: SCHEDULE OF NET LOSS DOMESTIC AND FOREIGN JURISDICTIONS December 31, 2021 December 31, 2020 Net loss - domestic $ (10,997,929 ) $ (5,845,053 ) Net loss foreign - - Total $ (10,997,929 ) $ (5,845,053 ) The 2017 Tax Act created a new requirement that, for the periods beginning after January 1, 2018, certain income (referred to as global intangible low taxed income or “GILTI”) earned by foreign subsidiaries in excess of a deemed return on tangible assets of foreign corporations must be included in U.S. taxable income. The GILTI income is eligible for a deduction, which lowers the effective tax rate to 10.5% for calendar years 2018 through 2025 and 13.125% after 2025. Under U.S. GAAP, companies are allowed to make an accounting policy election to either (i) account for GILTI as a component of tax expense in the period in which a company is subject to the rules - the period cost method, or (ii) account for GILTI in a company’s measurement of deferred taxes - the deferred method. The Company elected to account for GILTI in the period the tax is incurred. The Company did not generate any GILTI during the year ended December 31, 2021. As of December 31, 2021, and 2020, the Company has net operating loss carry forwards of $ 41,706,000 30,971,000 expected to expire at various times through 2041 The Company’s tax expense differs from the “expected” tax expense for Federal income tax purposes (computed by applying the United States Federal tax rate of 21% SCHEDULE OF INCOME TAX EXPENSE December 31, 2021 December 31, 2020 Tax expense (benefit) at the statutory rate $ (2,309,565 ) $ (1,227,461 ) Non-deductible items 620,855 384,991 Deferred true-ups (119,782 ) 124,206 Change in valuation allowance (2,309,565 ) 718,264 Total $ - $ - The tax effects of the temporary differences between reportable financial statement income and taxable income are recognized as deferred tax assets and liabilities. The tax years 2021 and 2020 remain open to examination by federal agencies and other jurisdictions in which it operates. The tax effect of significant components of the Company’s deferred tax assets and liabilities at December 31, 2021 and 2020, are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2021 December 31, 2020 Deferred tax assets: Net operating loss carryforward $ 8,758,337 $ 6,504,000 Lease liability 277,142 277,000 Deferred tax assets before valuation allowance 9,035,479 6,781,000 Less: deferred tax asset valuation allowance (5,093,324 ) (3,284,382 ) Total deferred tax asset after valuation allowance 3,942,155 3,496,618 Deferred tax liabilities: Intangible assets (3,665,013 ) (3,219,618 ) Fixed assets (277,142 ) (277,000 ) Total deferred tax liabilities 3,942,155 3,496,618 Total net deferred tax asset (liability) $ - $ - In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Because of the historical earnings history of the Company, the net deferred tax assets for 2021 and 2020 were fully offset by a 100 5,093,000 3,284,000 On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021

REVERSE STOCK SPLIT

REVERSE STOCK SPLIT	12 Months Ended
	Dec. 31, 2022
Reverse Stock Split
REVERSE STOCK SPLIT	12. Reverse Stock Split and Change in Authorized Shares REVERSE STOCK SPLIT On August 1, 2022, the Board of Directors (the “Board”) of Marizyme adopted resolutions authorizing a decrease of the authorized shares of common stock from 75,000,000 18,750,000 On August 26, 2022, the Board adopted resolutions authorizing, and empowering our officers to take all such further actions as necessary, proper, or advisable to carry out, among other actions, the filing of an amendment to our Articles of Incorporation, to increase the number of authorized shares of common stock from 18,750,000 75,000,000 On January 3, 2023, the Board adopted resolutions authorizing a decrease of our authorized shares of common stock from 75,000,000 20,000,000 3.75 We submitted a request to the Financial Industry Regulatory Authority, Inc. (“FINRA”) to process and announce each of the First Reverse Stock Split and Second Reverse Stock Split on FINRA’s Daily List of issuer corporate actions in accordance with FINRA Rule 6490. In order to address FINRA’s issuer corporate action processing requirements, and as authorized by the resolutions of our board of directors as adopted on August 1, 2022 and January 3, 2023, on January 13, 2023, a third, fourth and fifth Certificate of Change Pursuant to NRS 78.209 was each filed by the Company with the Nevada Secretary of State. These filings provided for two forward stock splits of the authorized and issued and outstanding common stock at the same ratios as the First Reverse Stock Split and Second Reverse Stock Split followed by a reverse stock split at their combined ratio. These filings were made in order for us to amend our request for FINRA to process the First Reverse Stock Split and Second Reverse Stock Split in aggregate to request that FINRA process a single one (1) for fifteen (15) reverse stock split in accordance with FINRA’s issuer corporate action processing requirements. The third such filing (the “Third Certificate of Change”) provided for the increase of the authorized common stock from 20,000,000 shares to 75,000,000 3.75 75,000,000 300,000,000 300,000,000 20,000,000 15 1 The processing of the effects of the Consolidated Reverse Stock Split on the number of shares held by each stockholder according to transfer agent or brokerage firm records and the reported price of the common stock will occur at the time that the Consolidated Reverse Stock Split is announced by FINRA on its Daily List in accordance with FINRA Rule 6490 (the “Public Adjustment Time”), which will be subject to the listing of the common stock on the Nasdaq Capital Market tier of Nasdaq and completion of FINRA’s issuer corporate action processing requirements. The listing of the common stock on Nasdaq remains subject to approval by Nasdaq of our listing application. The outcome of these matters cannot be determined at this time. Assuming that Nasdaq approves the listing of the common stock, it is anticipated that the Public Adjustment Time will occur after market close on the trading date prior to the first date of trading on Nasdaq. At that time, the number of shares of common stock held by each stockholder as reflected in the records of the Company’s transfer agent or the stockholder’s brokerage firm records will be reduced by 1,500% to reflect the processing of the Consolidated Reverse Stock Split. At market open the following trading day, which as anticipated will be the first day that the common stock trades on Nasdaq, the price of the common stock will reflect a 1,500% increase as a result of the processing of the Consolidated Reverse Stock Split. The common stock will trade on Nasdaq under its current ticker symbol, “MRZM,” but will trade under a new CUSIP Number, 570372 201. The Company also intends to file a Current Report on Form 8-K reporting FINRA’s announcement of the Consolidated Reverse Stock Split and related material matters Unless otherwise indicated, all share amounts and per share amounts in this prospectus have been presented on a split-adjusted basis to reflect the Consolidated Reverse Stock Split. In addition, all split-adjusted outstanding share amounts in this prospectus are estimated and may not entirely reflect the rounding of fractional shares with respect to approximately 50,294 As a result of the Consolidated Reverse Stock Split, there are approximately 2,722,070 No fractional shares will be issued, and no cash or scrip will be paid in connection with the First Reverse Stock Split, the Second Reverse Stock Split, the First Forward Stock Split, the Second Forward Stock Split, or the Consolidated Reverse Stock Split. One whole share of common stock is issuable to any stockholder who would otherwise receive a fractional share pursuant to the First Certificate of Change or the Second Certificate of Change. No fractional shares were anticipated to become issuable pursuant to the Third Certificate of Change, the Fourth Certificate of Change, or the Fifth Certificate of Change. At the Public Adjustment Time, certain stockholders whose shares are converted at the Consolidated Reverse Stock Split ratio may receive one fewer whole share in lieu of fractional shares than such stockholders would have received in lieu of fractional shares from the separate rounding at different effective dates and times of post-split fractional shares provided for by the First Certificate of Change and Second Certificate of Change as compared to the adjustment to shares held by such stockholders at the time of the Public Adjustment Time. Following the Public Adjustment Time, any claim to an additional whole share issuable pursuant to the First Certificate of Change and the Second Certificate of Change of any stockholder will be addressed on a case-by-case basis upon receipt of a written notice of such claim submitted by the stockholder with supporting documentation to the Company at the following address: Attn: Secretary, Marizyme, Inc., 555 Heritage Drive, Suite 205, Jupiter, Florida 33458.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
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: My Health Logic Inc (“My Health Logic” or “MHL”), Somahlution, Inc. (“Somahlution”), Somaceutica, Inc. (“Somaceutica”), (collectively – “Somah”), and Marizyme Sciences, Inc. (“Marizyme Sciences”). All intercompany transactions have been eliminated on consolidation. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with accounting principles generally accepted in the United States of America (“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 March 31, 2022 (the “2021 Form 10-K”). The condensed consolidated balance sheet as of December 31, 2021 was derived from audited consolidated financial statements included in the 2021 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 1 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 to fairly present the results of operations, financial condition, cash flows and stockholders’ equity for the periods indicated. Except as otherwise disclosed, all such adjustments are of a normal recurring nature.	Basis of Presentation and Principles of Consolidation The Company’s consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The accompanying consolidated financial statements include the consolidated accounts of the Company and its wholly owned subsidiaries, Somahlution, Inc. (“Somahlution”), Somaceutica, Inc. (“Somaceutica”), Marizyme Sciences, Inc. (“Marizyme Sciences”), and My Health Logic, Inc. (“My Health Logic”). All intercompany transactions have been eliminated on consolidation.
Deferred Offering Cost	Deferred Offering Cost The Company capitalizes certain legal, professional accounting and other third-party fees that are directly associated with in-process capital stock financings as deferred offering costs until such financings are consummated. After consummation of the financing, these costs are recorded in stockholders’ equity (deficit) as a reduction of additional paid-in capital generated as a result of the offering. Should a planned equity financing be abandoned, the deferred offering costs will be expensed immediately as a charge to operating expenses in the statements of operations. The Company had no deferred offering costs as of December 31, 2021. As of September 30, 2022, the Company had recorded deferred offering costs of $ 271,240
Use of Estimates	Use of Estimates The preparation of the 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 condensed 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.	Use of Estimates The preparation of the 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. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021
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 and considers counterparty credit risk in its assessment of fair value. The carrying amounts of certain accounts and other receivables, accounts payable and accrued expenses, notes payable, 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 in 2020 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. MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 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 69.62 0 5.96 1,999,000 899,000 5,251,000 4,352,000 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 20.6 516,000 1,288,000 5,276,000 3,988,000 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 8,000 56,000 1,094,000 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 78.93 0 5 1,823,000 1,823,000 The derivative liabilities consist of optional and automatic conversion features and the share redemption feature attached to the convertible notes, issued pursuant to the Unit Purchase Agreement (Note 7). 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, 2022, and December 31, 2021, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS Fair Value Hierarchy September 30, 2022 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 4,923,725 Contingent liabilities - - 13,444,000 Total $ - $ - $ 18,367,725 Fair Value Hierarchy December 31, 2021 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 2,485,346 Contingent liabilities - - 11,313,000 Total $ - $ - $ 13,798,346 MARIZYME, INC. NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE Derivative and Contingent Liabilities Balance at December 31, 2021 $ 13,798,346 Change in fair value of contingent liabilities 2,131,000 Derivative liabilities issued pursuant to Unit Purchase Agreement 2,438,379 Balance at September 30, 2022 $ 18,367,725 The Company had $9,845,648 in contingent liabilities and derivative liabilities as at September 30, 2021. Research and Development Expenses and Accruals All research and development costs are expensed in the period incurred and consist primarily of salaries, payroll taxes, and employee benefits, for individuals involved in research and development efforts, external research and development costs incurred under agreements with contract research organizations and consultants to conduct and support the Company’s ongoing clinical trials of DuraGraft, and costs related to manufacturing DuraGraft for clinical trials. The Company has entered into various research and development contracts with various organizations. Payments of these activities are based on the terms of the individual agreements which matches to the pattern of costs incurred. Payments made in advance are reflected in the accompanying balance sheets as prepaid expenses. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates may be required in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates.	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 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 2) 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 69.62 0 6.21 417,000 4,352,000 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 1,802,000 3,988,000 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 year ended December 31, 2021, changes in these assumptions resulted in $ 2,000 increase in fair value of this liability. At December 31, 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 78.93 0 5 years No 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 6). 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. At December 31, 2021 and 2020, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS December 31, 2021 Level 1 Level 2 Level 3 December 31, 2020 Fair Value Hierarchy December 31, 2021 Level 1 Level 2 Level 3 December 31, 2020 Liabilities Derivative liabilities $ - $ - $ 2,485,346 $ - Contingent liabilities - - 11,313,000 - Total $ - $ - $ 13,798,346 $ - MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021 The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE Derivative and Contingent Liabilities Balance at December 31, 2020 - Derivative liabilities $ 391,648 Extinguishment of debt obligations (391,648 ) Derivative liabilities - amended Unit Purchase Agreement (Note 6) 2,485,346 Initial valuation of contingent liabilities assumed on Somah acquisition 1 9,926,000 Change in fair value 1,387,000 Balance at December 31, 2021 $ 13,798,346 1 Measured as at Somah acquisition date of July 31, 2020, see Note 2.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense for employees and directors is recognized in the Condensed Consolidated Statements of Operations based on estimated amounts, including the grant date fair value and the expected service period. For stock options, the Company estimates the grant date fair value using a Black-Scholes valuation model, which requires the use of multiple subjective inputs including estimated future volatility, expected forfeitures and the expected term of the awards. The Company estimate the expected future volatility based on the stock’s historical price volatility. The stock’s future volatility may differ from the estimated volatility at the grant date. For restricted stock unit (“RSU”) equity awards, the Company estimates the grant date fair value using its closing stock price on the date of grant. The Company recognizes the effect of forfeitures in compensation expense when the forfeitures occur. The estimated forfeiture rates may differ from actual forfeiture rates which would affect the amount of expense recognized during the period. The Company recognizes the value of the awards over the awards’ requisite service or performance periods. The requisite service period is generally the time over which share-based awards vest.	Stock-Based Compensation Share-based compensation expense for employees and directors is recognized in the Consolidated Statement of Operations based on estimated amounts, including the grant date fair value and the expected service period. For stock options, we estimate the grant date fair value using a Black-Scholes valuation model, which requires the use of multiple subjective inputs including estimated future volatility, expected forfeitures and the expected term of the awards. We estimate the expected future volatility based on the stock’s historical price volatility. The stock’s future volatility may differ from the estimated volatility at the grant date. For restricted stock unit (“RSU”) equity awards, we estimate the grant date fair value using our closing stock price on the date of grant. We recognize the effect of forfeitures in compensation expense when the forfeitures occur. The estimated forfeiture rates may differ from actual forfeiture rates which would affect the amount of expense recognized during the period. We recognize the value of the awards over the awards’ requisite service or performance periods. The requisite service period is generally the time over which our share-based awards vest. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021
Comparative Information	Comparative Information To conform with the current period’s financial statement presentation, the Company reclassified certain professional fees, salaries, rent and repairs and maintenance expenses related to research and development activities for the three and nine months ended September 30, 2021, into the research and development expenses line item on the Condensed Consolidated Statements of Operations. Such reclassifications were not considered material and did not have any effect on the Company’s net loss for the three- and nine- month periods ended September 30, 2021.	Comparative Information To conform with the current year’s financial statement presentation, the Company reclassified certain professional fees, salaries, and rent expenses related to research and development activities for the year ended December 31, 2020 into research and development expenses line item on the Consolidated Statements of Operations. Such reclassifications were not considered material and did not have any effect on the Company’s net loss for the year ended December 31, 2020.
Organization		Organization Marizyme, 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 The Company’s 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 $ 47,823,563 at December 31, 2021. Additionally, the Company has working capital of $ 1,268,097 and $ 4,072,339 of cash on hand, which may not be sufficient to fund operations for the next twelve months. 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 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 from the date the consolidated financial statements were issued, 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 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. Subsequent to the year ended December 31, 2021, on February 14, 2021, Marizyme completed a preliminary prospectus with intention to raise up to $ 17,250,000 The 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.
Cash		Cash Cash include cash in readily available checking accounts.
Concentrations of Credit Risk		Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.
Inventory		Inventory Inventory consisted of primarily finished goods and is valued at the lower of cost and net realizable value. Cost is determined using the FIFO method. The Company decreases the value of inventory for estimated obsolescence equal to the difference between the cost of inventory and the estimated market value, based upon an aging analysis of the inventory on hand, specifically known inventory-related risks, and assumptions about future demand and market conditions. The Company has determined that no inventory reserve was necessary as of December 31, 2021 and 2020.
Accounts Receivable		Accounts Receivable Trade receivables are amounts due from customers for goods sold in the ordinary course of business. Accounts receivable are non-interest bearing and are due for settlement in full within 30 days. Trade receivables are shown net of allowance for bad or doubtful debts.
Allowance for Doubtful Accounts		Allowance for Doubtful Accounts The Company establishes an allowance for doubtful accounts to ensure trade and other receivables are not overstated due to non-collectability. The Company’s allowance is based on a variety of factors, including age of the receivable, significant one-time events, historical experience, and other risk considerations. The Company did not have an allowance at December 31, 2021 or 2020. The Company did not record any bad debt expense in each of the years ended December 31, 2021 and 2020.
Property, Plant, and Equipment, Net		Property, Plant, and Equipment, Net Property, plant and equipment are recorded at cost, less accumulated depreciation. Depreciation expense is recognized using the straight-line method over the useful life of the asset. Machinery, computer equipment and related software are depreciated over five to seven years. Furniture and fixtures are depreciated over four seven years
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 (“IPR&D”). 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. These IPR&D assets are reviewed for impairment annually, or sooner if events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable, and upon establishment of technological feasibility or regulatory approval. An impairment loss, if any, is calculated by comparing the fair value of the asset to its carrying value. If the asset’s carrying value exceeds its fair value, an impairment loss is recorded for the difference and its carrying value is reduced accordingly. Similar to the impairment test for goodwill, the Company may perform a qualitative approach for testing indefinite-lived intangible assets for impairment. The Company used the qualitative approach and concluded that it was more-likely-than-not that its indefinite-lived assets were not impaired during the years ended December 31, 2021 and 2020. MARIZYME, INC. Notes to the Consolidated Financial Statements December 31, 2021
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 impairment losses have been recorded through December 31, 2021 and 2020.
Leases		Leases At the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, the Company records the associated lease liability and corresponding right-of-use asset upon commencement of the lease using the implicit rate or a discount rate based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. The Company additionally evaluates leases at their inception to determine if they are to be accounted for as an operating lease or a finance lease. A lease is accounted for as a finance lease if it meets one of the following five criteria: the lease has a purchase option that is reasonably certain of being exercised, the present value of the future cash flows is substantially all of the fair market value of the underlying asset, the lease term is for a significant portion of the remaining economic life of the underlying asset, the title to the underlying asset transfers at the end of the lease term, or if the underlying asset is of such a specialized nature that it is expected to have no alternative uses to the lessor at the end of the term. Leases that do not meet the finance lease criteria are accounted for as an operating lease. Operating lease assets represent a right to use an underlying asset for the lease term and operating lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease liabilities with a term greater than one year and their corresponding right-of-use assets are recognized on the balance sheet at the commencement date of the lease based on the present value of lease payments over the expected lease term. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received. As the Company’s leases do not typically provide an implicit rate, the Company utilizes the appropriate incremental borrowing rate, determined as the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and in a similar economic environment. Lease cost is recognized on a straight-line basis over the lease term and variable lease payments are recognized as operating expenses in the period in which the obligation for those payments is incurred. Variable lease payments primarily include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor in proportion to the space leased by the Company. The Company has elected the practical expedient to not separate between lease and non-lease components.
Revenue Recognition		Revenue Recognition Pursuant to Topic 606, the Company recognizes revenue to depict the transfer of promised goods or services to a customer in an amount that reflects the consideration to which the entity expects to be intitled in exchange for those goods or services. To achieve this core principle, Topic 606 outlines a five-step process for recognizing revenue from customer contracts that includes i) identification of the contract with a customer, ii) identification of the performance obligations in the contract, iii) determining the transaction price, iv) allocating the transaction price to the separate performance obligations in the contract, and v) recognizing revenue associated with performance obligations as they are satisfied. At contract inception, the Company assesses the goods or services promised within each contract and assess whether each promised good or service is distinct and determine those that are performance obligations. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied. We have identified one performance obligation which is related to our DuraGraft product sales. For our Distribution Partner channel, we recognize revenue for product sales at the time of delivery of the product to our Distribution Partner (customer). As our products have an expiration date, if a product expires, we will replace the product at no charge. There were no significant judgements made in applying this topic.
Direct Cost of Revenue		Direct Cost of Revenue Cost of sales includes the actual cost of merchandise sold, and the cost of transportation of merchandise from our third-party vendor to our distributer.
Research and Development Expenses and Accruals		Research and Development Expenses and Accruals All research and development costs are expensed in the period incurred and consist primarily of salaries, payroll taxes, and employee benefits, those individuals involved in research and development efforts, external research and development costs incurred under agreements with contract research organizations and consultants to conduct and support the Company’s ongoing clinical trials of DuraGraft, and costs related to manufacturing DuraGraft for clinical trials. The Company has entered into various research and development contracts with various organizations and other companies. Payments of these activities are based on the terms of the individual agreements which matches to the pattern of costs incurred. Payments made in advances are reflected in the accompanying balance sheets as prepaid expenses. The Company records accruals for estimated costs incurred for ongoing research and development activities. When evaluating the adequacy of the accrued liabilities, the Company analyzes progress of the services, including the phase or completion of events, invoices received and contracted costs. Significant judgments and estimates may be made in determining the prepaid or accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates.
Income Taxes		Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the consolidated financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in the statement of operations in the period that includes the enactment date. The Company recognizes net deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If management determines that the Company would be able to realize its deferred tax assets in the future in excess of their net recorded amount, management would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions on the basis of a two-step process whereby (i) management determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, management recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. Any accrued interest and penalties are included within the related tax liability. There were no interest and penalties as of December 31, 2021 and 2020.
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 In December 2019, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
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 consolidated financial statements as well as material updates to previous assessments. There were no new material accounting standards issued or adopted in year of 2021 that impacted the Company.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
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, 2022, and December 31, 2021, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS Fair Value Hierarchy September 30, 2022 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 4,923,725 Contingent liabilities - - 13,444,000 Total $ - $ - $ 18,367,725 Fair Value Hierarchy December 31, 2021 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 2,485,346 Contingent liabilities - - 11,313,000 Total $ - $ - $ 13,798,346	Marizyme measures the following financial instruments at fair value on a recurring basis. At December 31, 2021 and 2020, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS December 31, 2021 Level 1 Level 2 Level 3 December 31, 2020 Fair Value Hierarchy December 31, 2021 Level 1 Level 2 Level 3 December 31, 2020 Liabilities Derivative liabilities $ - $ - $ 2,485,346 $ - Contingent liabilities - - 11,313,000 - Total $ - $ - $ 13,798,346 $ -
RECONCILIATION OF LIABILITIES AT FAIR VALUE	The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE Derivative and Contingent Liabilities Balance at December 31, 2021 $ 13,798,346 Change in fair value of contingent liabilities 2,131,000 Derivative liabilities issued pursuant to Unit Purchase Agreement 2,438,379 Balance at September 30, 2022 $ 18,367,725	The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: RECONCILIATION OF LIABILITIES AT FAIR VALUE Derivative and Contingent Liabilities Balance at December 31, 2020 - Derivative liabilities $ 391,648 Extinguishment of debt obligations (391,648 ) Derivative liabilities - amended Unit Purchase Agreement (Note 6) 2,485,346 Initial valuation of contingent liabilities assumed on Somah acquisition 1 9,926,000 Change in fair value 1,387,000 Balance at December 31, 2021 $ 13,798,346

ACQUISITION (Tables)

ACQUISITION (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
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 were as follows: SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION Consideration given up Common shares $ 7,774,000 Total consideration given up $ 7,774,000 Fair value of identifiable assets acquired, and liabilities assumed Net working deficit $ (613,156 ) Property, plant, and equipment 12,500 Intangible assets 6,600,000 Goodwill 1,774,656 Total identifiable assets $ 7,774,000
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
SCHEDULE OF ASSETS AND LIABILITIES ACQUIRED AND PURCHASE 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 ASSETS AND LIABILITIES ACQUIRED AND PURCHASE CONSIDERATION Consideration given up Common shares $ 7,774,000 Total consideration given up $ 7,774,000 Fair value of identifiable assets acquired, and liabilities assumed Net working deficit $ (613,156 ) Property, plant, and equipment 12,500 Intangible assets 6,600,000 Goodwill 1,774,656 Total identifiable assets $ 7,774,000

LEASES (Tables)

LEASES (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Leases
SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES	The following table summarizes supplemental balance sheet information related to the operating lease as of September 30, 2022, and December 31, 2021: SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITIES September 30, 2022 December 31, 2021 Right-of-use assets $ 1,576,445 $ 1,158,776 Operating lease liabilities, current $ 420,913 $ 277,142 Operating lease liabilities, non-current 1,155,532 881,634 Total operating lease liabilities $ 1,576,445 $ 1,158,776	The following table summarizes supplemental balance sheet information related to the operating lease as of December 31, 2021: SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES December 31, December 31, Right-of-use asset $ 1,158,776 $ 1,317,830 Operating lease liabilities, current $ 277,142 $ 243,292 Operating lease liabilities, non-current 881,634 1,074,538 Total operating lease liabilities $ 1,158,776 $ 1,317,830
SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES	As of September 30, 2022, the maturities of the lease liabilities for the periods ending December 31 are as follows: SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES 2022 $ 103,291 2023 423,495 2024 434,082 2025 444,934 2026 266,034 Total lease payments 1,671,836 Less: Present value discount (95,391 ) Total $ 1,576,445	As at December 31, 2021, the maturities of the lease liabilities for the periods ended December 31 were as follows: SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES 2022 $ 277,142 2023 277,142 2024 277,142 2025 277,142 Thereafter 130,950 Total lease payments 1,239,518 Less: Present value discount (80,742 ) Total $ 1,158,776

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE	SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE September 30, 2022 December 31, 2021 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 Patents in process 122,745 - 122,745 122,745 - 122,745 DuraGraft patent 5,256,000 (875,999 ) 4,380,001 5,256,000 (572,768 ) 4,683,232 DuraGraft - Distributor relationship 308,000 (66,733 ) 241,267 308,000 (43,633 ) 264,367 DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 12,606,000 - 12,606,000 My Health Logic - Trade name 450,000 (24,911 ) 425,089 450,000 (804 ) 449,196 My Health Logic - Biotechnology 4,600,000 (209,706 ) 4,390,294 4,600,000 (6,765 ) 4,593,235 My Health Logic - Software 1,550,000 (80,083 ) 1,469,917 1,550,000 (2,583 ) 1,547,417 Total intangibles $ 53,492,745 $ (1,257,432 ) $ 52,235,313 $ 53,492,745 $ (626,553 ) $ 52,866,192	As part of My Health Logic acquisition (Note 2), Marizyme purchased MHL’s lab-on-chip technology platform and its patient-centric, digital point-of-care screening device, MATLOC 1, fair valued at an aggregate amount of $ 6,600,000 . SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE Intangible Assets December 31, 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 Patents in process 122,745 - 122,745 119,971 - 119,971 DuraGraft patent 5,256,000 (572,768 ) 4,683,232 14,147,729 (589,489 ) 13,558,240 DuraGraft - Distributor relationship 308,000 (43,633 ) 264,367 - - - DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 - - - My Health Logic - Trade name 450,000 (804 ) 449,196 - - - My Health Logic - Biotechnology 4,600,000 (6,765 ) 4,593,235 - - - My Health Logic - Software 1,550,000 (2,583 ) 1,547,417 - - - Total intangible assets $ 53,492,745 $ (626,553 ) $ 52,866,192 $ 42,867,700 $ (589,489 ) $ 42,278,211
SCHEDULE OF GOODWILL	SCHEDULE OF GOODWILL Goodwill DuraGraft My Health Logic Total Balance, December 31, 2020 $ - $ - $ - Additions on acquisitions 5,416,000 1,774,656 7,190,656 Impairment - - Balance, December 31, 2021 and September 30, 2022 $ 5,416,000 $ 1,774,656 $ 7,190,656	SCHEDULE OF GOODWILL Goodwill DuraGraft My Health Logic Total Balance, December 31, 2020 $ - $ - $ - Additions on acquisitions 5,416,000 1,774,656 7,190,656 Impairment - - - Balance, December 31, 2021 $ 5,416,000 $ 1,774,656 $ 7,190,656
SCHEDULE OF INTANGIBLE ASSETS	The following changes to the Company’s intangible assets had taken place in the periods indicated: SCHEDULE OF INTANGIBLE ASSETS Balance, December 31, 2020 $ 42,278,211 Acquired in Somah Transaction 4,022,271 Acquired in My Health Logic Transaction 6,600,000 Additions 2,775 Amortization expense (37,065 ) Balance, December 31, 2021 $ 52,866,192 Amortization expense (630,879 ) Balance, September 30, 2022 $ 52,235,313	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 Acquired in MHL Transaction 6,600,000 Additions 2,775 Amortization expense 1 (37,065 ) Balance, December 31, 2021 $ 52,866,192 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

CONVERTIBLE PROMISSORY NOTES _2

CONVERTIBLE PROMISSORY NOTES AND WARRANTS (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Debt Disclosure [Abstract]
SCHEDULE OF CONVERTIBLE NOTES	As of September 30, 2022 and December 31, 2021, the Company had the following convertible notes, net of debt discount outstanding: SCHEDULE OF CONVERTIBLE NOTES Convertible Notes, Net of Debt Discount Balance, December 31, 2021 $ 26,065 Convertible notes issued - new securities 7,315,138 Issuance costs (535,717 ) Debt discount (6,779,421 ) Debt accretion 1,622,730 Balance, September 30, 2022 $ 1,648,795	During the year ended December 31, 2021, the Company recognized interest and accretion expense of $ 116,676 Nil SCHEDULE OF CONVERTIBLE NOTES December 31, 2021 December 31, 2020 Convertible notes issued - original securities $ 1,174,945 $ - Issuance costs (105,745 ) - Debt discount (964,153 ) - Debt accretion 90,611 - Extinguishment of debt in connection with December 2021 Exchange Agreements (195,658 ) - Convertible notes issued - new securities, outstanding at December 31, 2021 7,456,039 - Issuance costs (671,044 ) Debt discount (6,784,995 ) - Debt accretion 26,065 - Convertible notes, net of debt discount $ 26,065 $ -
SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT	SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT September 30, 2022 December 31, 2021 Convertible notes - total principal $ 14,771,177 $ 7,482,104 Unamortized issuance costs and discount (13,122,382 ) (7,456,039 ) Convertible notes, net of debt discount $ 1,648,795 $ 26,065

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2022
Equity [Abstract]
SCHEDULE OF STOCK OPTION ACTIVITY	The summary of option activity for the six months ended September 30, 2022, is as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Contractual Life Total Intrinsic Value Outstanding at December 31, 2020 253,387 $ 20.40 8.82 Granted 102,166 22.65 Forfeited (112,166 ) 20.40 Outstanding at December 31, 2021 243,387 $ 18.60 8.34 $ 1,951,117 Granted 26,664 33.00 9.69 - Forfeited (8,333 ) 18.75 8.08 81,250 Outstanding at September 30, 2022 261,718 20.00 7.79 2,344,489 Exercisable at September 30, 2022 203,371 $ 17.55 7.35 $ 2,256,558	The summary of option activity for the years ended December 31, 2021 and 2020 was as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number of Options Weighted Average Exercise Price Weighted Average Contractual Life Total Intrinsic Value Outstanding at December 31, 2019 180,991 $ 22.50 9.48 Granted 89,333 18.75 Exercised (16,937 ) 15.30 Outstanding at December 31, 2020 253,387 $ 20.40 8.82 Granted 102,166 22.65 Forfeited (112,166 ) 20.40 Outstanding at December 31, 2021 243,387 $ 18.60 8.34 $ 1,951,117 Exercisable at December 31, 2021 159,958 $ 16.05 7.70 $ 1,685,099
SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE	As of September 30, 2022, the Company had the following options outstanding: SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE Exercise Price Number of Options Outstanding Number of Options Exercisable Weighted Average Remaining Contractual Years Intrinsic Value $ 15.15 132,391 132,391 6.68 $ 1,767,489 18.75 35,998 34,981 8.41 351,000 20.55 13,333 13,333 7.88 106,000 26.25 53,332 18,666 9.16 120,000 33.00 26,664 4,000 9.69 - $ 19.95 261,718 203,371 7.79 $ 2,344,489	As of December 31, 2021, the Company had the following options issued and outstanding: SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE Exercise Price Number of Options Outstanding Number of Options Exercisable Weighted Average Remaining Contractual Years Intrinsic Value $ 15.15 132,388 132,398 7.43 $ 1,509,317 18.75 44,333 14,228 9.09 110,983 20.55 13,333 10,666 8.63 64,000 26.25 53,333 2,666 9.84 800 $ 18.60 243,387 159,958 8.34 $ 1,951,117
SCHEDULE OF WARRANTS OUTSTANDING	SCHEDULE OF WARRANTS OUTSTANDING Number Weighted Average Price December 31, 2020 226,232 $ 69.45 Issued pursuant to Unit Purchase Agreement 568,074 33.75 Issued 15,330 20.85 December 31, 2021 809,636 $ 43.50 Issued pursuant to Unit Purchase Agreement 557,328 33.75 Issued 58,558 17.40 Exercised (20,000 ) 0.15 Expired (7,574 ) 45.00 September 30, 2022 1,397,948 $ 39.13	SCHEDULE OF WARRANTS OUTSTANDING Number Weighted Average Price December 30, 2019 7,574 $ 45.00 Issued on Somah acquisition 199,992 75.00 Issued 18,666 20.70 December 30, 2020 226,232 $ 69.45 Issued pursuant to Unit Purchase Agreement 568,074 33.75 Issued 15,330 20.85 December 31, 2021 809,636 $ 43.50
SCHEDULE OF SHARES BASED STOCK OPTION VALUATION ASSUMPTIONS		SCHEDULE OF SHARES BASED STOCK OPTION VALUATION ASSUMPTIONS 2021 2020 Risk-free interest rate 1.09 % 0.93 % Volatility 252.08 % 241.88 % Exercise price $ 22.65 $ 20.55 Dividend yield 0 % 0 % Forfeiture rate 0 % 0 % Expected life (years) 6.38 10.00

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	Accounts payable and accrued expenses, summarized by major category, as of December 31, 2021 and 2020 consists of the following: SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES December 31, 2021 December 31, Trade accounts payable $ 1,465,860 $ 325,830 Accrued expenses 8,215 21,555 Accrued compensation expenses 122,072 130,718 Total accounts payable and accrued expenses $ 1,596,147 $ 478,103

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
SCHEDULE OF NET LOSS DOMESTIC AND FOREIGN JURISDICTIONS	SCHEDULE OF NET LOSS DOMESTIC AND FOREIGN JURISDICTIONS December 31, 2021 December 31, 2020 Net loss - domestic $ (10,997,929 ) $ (5,845,053 ) Net loss foreign - - Total $ (10,997,929 ) $ (5,845,053 )
SCHEDULE OF INCOME TAX EXPENSE	SCHEDULE OF INCOME TAX EXPENSE December 31, 2021 December 31, 2020 Tax expense (benefit) at the statutory rate $ (2,309,565 ) $ (1,227,461 ) Non-deductible items 620,855 384,991 Deferred true-ups (119,782 ) 124,206 Change in valuation allowance (2,309,565 ) 718,264 Total $ - $ -
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	The tax effect of significant components of the Company’s deferred tax assets and liabilities at December 31, 2021 and 2020, are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES December 31, 2021 December 31, 2020 Deferred tax assets: Net operating loss carryforward $ 8,758,337 $ 6,504,000 Lease liability 277,142 277,000 Deferred tax assets before valuation allowance 9,035,479 6,781,000 Less: deferred tax asset valuation allowance (5,093,324 ) (3,284,382 ) Total deferred tax asset after valuation allowance 3,942,155 3,496,618 Deferred tax liabilities: Intangible assets (3,665,013 ) (3,219,618 ) Fixed assets (277,142 ) (277,000 ) Total deferred tax liabilities 3,942,155 3,496,618 Total net deferred tax asset (liability) $ - $ -

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details Narrative)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Entity state of incorporation	NV
Entity date of incorporation	Mar. 20, 2007

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 62,425,070	$ 47,823,563	$ 36,825,634
Working capital	735,525	1,268,097
Cash	$ 1,182,248	$ 4,072,339

SCHEDULE OF FAIR VALUES OF FINA

SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 21, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities			$ 2,485,346
Contingent liabilities	$ 13,444,000	$ 11,313,000
Total
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities
Contingent liabilities
Total
Total
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities
Contingent liabilities
Total
Total
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Derivative liabilities	4,923,725	2,485,346
Contingent liabilities	13,444,000	11,313,000
Total	$ 18,367,725	13,798,346
Total		$ 13,798,346

RECONCILIATION OF LIABILITIES A

RECONCILIATION OF LIABILITIES AT FAIR VALUE (Details) - USD ($)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Change in fair value of contingent liabilities		$ 1,491,000	$ 194,000	$ (2,131,000)	$ 472,000	$ (1,387,000)
Derivative liabilities - amended Unit Purchase Agreement (Note 6)						2,485,346
Beginning Balance				13,798,346
Derivative liabilities						391,648
Extinguishment of debt obligations						(391,648)
Initial valuation of contingent liabilities assumed on Somah acquisition1	[1]					9,926,000
Change in fair value						1,387,000
Ending Balance						13,798,346
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Contingent liabilities beginning balance				13,798,346
Change in fair value of contingent liabilities				2,131,000
Derivative liabilities - amended Unit Purchase Agreement (Note 6)				2,438,379
Contingent liabilities ending balance		$ 18,367,725		$ 18,367,725		$ 13,798,346
[1]Measured as at Somah acquisition date of July 31, 2020, see Note 2.

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)		3 Months Ended		9 Months Ended	12 Months Ended
	Dec. 21, 2021 USD ($)	Sep. 30, 2022 USD ($)	Mar. 29, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($) Number	Dec. 31, 2020 USD ($)	Aug. 03, 2020
Property, Plant and Equipment [Line Items]
Deferred offering cost		$ 271,240		$ 271,240
Warrants term							5 years
Warrants liabilities	$ 4,299,649				$ 4,447,982
Midrange average estimated interest rate				20.60%	20.60%
Liabilities fair value adjustment		516,000		$ 1,288,000	$ 1,802,000
Royalty expense				5,276,000	3,988,000
Liquidation preference fair market value		1,823,000		1,823,000	1,823,000
Retained Earnings (Accumulated Deficit)		62,425,070		62,425,070	47,823,563	$ 36,825,634
[custom:WorkingCapital-0]		735,525		735,525	1,268,097
Cash		1,182,248		1,182,248	$ 4,072,339
Proceeds from offering				5,000,000
Risk free rate					1.09%	0.93%
Expected life					6 years 4 months 17 days	10 years
Royalties payable					$ 3,988,000
Impairment of Long-Lived Assets					$ 0	$ 0
Number of operating segment | Number					1
[custom:NewAccountingPronouncements]					$ 0
Minimum [Member]
Property, Plant and Equipment [Line Items]
Furniture and fixtures depreciated					4 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Furniture and fixtures depreciated					7 years
Subsequent Event [Member]
Property, Plant and Equipment [Line Items]
Proceeds from offering			$ 17,250,000
Scenario, Adjustment [Member]
Property, Plant and Equipment [Line Items]
Liabilities fair value adjustment		8,000		$ 56,000	$ 2,000
Discount rate percentage				20.60%	20.60%
Money market funds, at carrying value		1,094,000		$ 1,094,000	$ 1,150,000
Warrants Liabilities [Member]
Property, Plant and Equipment [Line Items]
Decrease in derivative liabilities		$ 1,999,000
Increase in derivative liabilities				899,000
Warrants liabilities				$ 5,251,000	$ 4,352,000
Risk free rate					1.19%
Expected volatility					69.62%
Expected dividend					$ 0
Expected life					6 years 2 months 15 days
Increase (Decrease) in Operating Liabilities					$ 417,000
Warrants liabilities					4,352,000
Liquidation Preference [Member]
Property, Plant and Equipment [Line Items]
Liquidation preference fair market value					$ 1,823,000
Risk free rate					0.21%
Expected volatility					78.93%
Expected dividend					$ 0
Expected life					5 years
Liquidation preference value					$ 0
Measurement Input, Risk Free Interest Rate [Member] | Warrants Liabilities [Member]
Property, Plant and Equipment [Line Items]
Dividend rate		1.19		1.19
Measurement Input, Risk Free Interest Rate [Member] | Liquidation Preference [Member]
Property, Plant and Equipment [Line Items]
Derivative Liability, Measurement Input		0.0021		0.0021
Measurement Input, Price Volatility [Member] | Warrants Liabilities [Member]
Property, Plant and Equipment [Line Items]
Dividend rate		69.62		69.62
Measurement Input, Price Volatility [Member] | Liquidation Preference [Member]
Property, Plant and Equipment [Line Items]
Derivative Liability, Measurement Input		0.7893		0.7893
Measurement Input, Expected Dividend Rate [Member] | Warrants Liabilities [Member]
Property, Plant and Equipment [Line Items]
Dividend rate		0		0
Measurement Input, Expected Dividend Rate [Member] | Liquidation Preference [Member]
Property, Plant and Equipment [Line Items]
Derivative Liability, Measurement Input		0		0
Measurement Input, Expected Term [Member] | Warrants Liabilities [Member]
Property, Plant and Equipment [Line Items]
Warrants term		5 years 11 months 15 days		5 years 11 months 15 days
Measurement Input, Expected Term [Member] | Liquidation Preference [Member]
Property, Plant and Equipment [Line Items]
Derivative Liability, Measurement Input				5 years

SCHEDULE OF PRELIMINARY ALLOCAT

SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION (Details) - USD ($)		9 Months Ended	12 Months Ended
		Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 7,190,656	$ 7,190,656
My Health Logic Inc [Member]
Business Acquisition [Line Items]
Common shares		7,774,000
Total consideration given up		7,774,000
Net working capital		(613,156)
Property, plant and equipment		12,500
Intangible assets		6,600,000
Goodwill		1,774,656
Goodwill		7,774,000
Total consideration		$ 7,774,000
DuraGraft [Member]
Business Acquisition [Line Items]
Common shares			12,500,000
Total consideration given up			23,626,000
Intangible assets			18,170,000
Goodwill			5,416,000
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
Total identifiable assets			$ 23,626,000
[1]During the year ended December 31, 2021,

ACQUISITION (Details Narrative)

ACQUISITION (Details Narrative) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
	Dec. 22, 2021	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020	Aug. 03, 2020
Business Acquisition [Line Items]
Common Stock, Shares, Outstanding		2,722,070	2,722,070	2,702,070	2,395,330
Economic life				10 years
Notes payable		$ 213,563	$ 213,563	$ 469,252
Percentage of Weighted Average Cost Inventory				33.80%
Prepaid royalties non current		339,091	339,091	$ 339,091	$ 344,321
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				16,666		15,300
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 20.63
Warrants and Rights Outstanding, Term						5 years
Revenue, remaining performance obligation, percentage				6%
Additional revenues				$ 50,000,000
Deferred revenue, period increase (decrease)				$ 200,000,000
Royalty [Member]
Business Acquisition [Line Items]
Revenue, remaining performance obligation, percentage				5%
Additional revenues				$ 50,000,000
Subsequent sale percentage				10%
Royalty [Member] | Minimum [Member]
Business Acquisition [Line Items]
Revenue, remaining performance obligation, percentage				4%
Sale proceeds liquidation preference				15%
Royalty [Member] | Maximum [Member]
Business Acquisition [Line Items]
Revenue, remaining performance obligation, percentage				2%
Deferred revenue, period increase (decrease)				$ 50,000,000
Deferred revenue, revenue recognized				200,000,000
Liquidation preference				$ 20,000,000
Restricted Stock [Member]
Business Acquisition [Line Items]
Stock Issued During Period, Shares, Issued for Services				666,667
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				199,992
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 75
Warrants and Rights Outstanding, Term				5 years
Restricted Stock [Member] | Performance Warrants [Member]
Business Acquisition [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				266,666
Unit Purchase Agreement [Member]
Business Acquisition [Line Items]
Notes payable		278,678	278,678
Trade Names [Member]
Business Acquisition [Line Items]
Economic life				14 years
My Health Logic [Member]
Business Acquisition [Line Items]
Notes payable		$ 468,137	$ 468,137	$ 468,137
Notes payable interest rate		9%	9%	9%
Interest expense on notes payable		$ 4,538	$ 15,124	$ 1,115
Percentage of Weighted Average Cost Inventory		37.50%	37.50%	37.50%
Debt maturity date				Aug. 12, 2022
My Health Logic [Member] | Trade Names [Member]
Business Acquisition [Line Items]
Remaining Useful Life			14 years
My Health Logic [Member] | Software [Member]
Business Acquisition [Line Items]
Economic life			15 years	15 years
My Health Logic [Member] | Lab on Chip Technology [Member]
Business Acquisition [Line Items]
Remaining Useful Life			17 years	17 years
HL Two Holdings [Member]
Business Acquisition [Line Items]
Acquisition Costs, Period Cost	$ 306,740
[custom:CommonStockIssuedHeldAndAdministered]	15,334
[custom:CommonStockConversionBasisRate]	11.35%
Common Stock, Shares, Outstanding	2,702,070
DuraGraft [Member]
Business Acquisition [Line Items]
Economic life				13 years

SCHEDULE OF RIGHT-OF-USE ASSET

SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITIES (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Right-of-use assets	$ 1,576,445	$ 1,158,776	$ 1,317,830
Operating lease liabilities, current	420,913	277,142	243,292
Operating lease liabilities, non-current	1,155,532	881,634	1,074,538
Total operating lease liabilities	$ 1,576,445	$ 1,158,776	$ 1,317,830

SCHEDULE OF MATURITIES OF THE L

SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
2022	$ 103,291
2022	423,495	$ 277,142
2023	434,082	277,142
2024	444,934	277,142
2025	266,034	277,142
Total lease payments	1,671,836	1,239,518
Less: Present value discount	(95,391)	(80,742)
Total	$ 1,576,445	1,158,776	$ 1,317,830
Thereafter		$ 130,950

LEASES (Details Narrative)

LEASES (Details Narrative)	1 Months Ended	3 Months Ended			9 Months Ended		12 Months Ended
	Dec. 31, 2020 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Apr. 01, 2022 ft²	Dec. 11, 2020 ft²
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease term											5 years 6 months
Administrative office and laboratories space | ft²										3,053	10,300
Payments for Rent		$ 103,291		$ 77,357	$ 324,544	$ 168,769
Operating Expenses		$ 2,309,052		$ 1,792,993	$ 10,967,960	$ 6,152,335		$ 9,031,662	$ 5,996,739
Remaining Lease Term		3 years 9 months 29 days			3 years 9 months 29 days			4 years 5 months 1 day
Operating Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for Rent	$ 10,800				$ 15,260				$ 10,817
Base Rent Percentage	2.50%				2.50%				2.50%
Operating Expenses	$ 12,000	$ 17,500	$ 12,000						$ 12,000
Operating lease discount rate		3.95%			3.95%			3.95%
Operating Lease Agreement [Member] | Forecast [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for Rent							$ 15,641

SCHEDULE OF INTANGIBLE ASSETS A

SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 53,492,745	$ 53,492,745	$ 42,867,700
Accumulated amortization	(1,257,432)	(626,553)	(589,489)
Net carrying amount	52,235,313	52,866,192	42,278,211
My Health Logic [Member]
Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		6,600,000
Krillase Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	28,600,000	28,600,000	28,600,000
Accumulated amortization
Net carrying amount	28,600,000	28,600,000	28,600,000
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	122,745	122,745	119,971
Accumulated amortization
Net carrying amount	122,745	122,745	119,971
Dura Graft Patent [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,256,000	5,256,000	14,147,729
Accumulated amortization	(875,999)	(572,768)	(589,489)
Net carrying amount	4,380,001	4,683,232	13,558,240
Duragraft Distributor Relationship [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	308,000	308,000
Accumulated amortization	(66,733)	(43,633)
Net carrying amount	241,267	264,367
Duragraft Cyto Protectant [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	12,606,000	12,606,000
Accumulated amortization
Net carrying amount	12,606,000	12,606,000
My Health Logic Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	450,000	450,000
Accumulated amortization	(24,911)	(804)
Net carrying amount	425,089	449,196
My Health Logic Biotechnology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	4,600,000	4,600,000
Accumulated amortization	(209,706)	(6,765)
Net carrying amount	4,390,294	4,593,235
My Health Logic Software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,550,000	1,550,000
Accumulated amortization	(80,083)	(2,583)
Net carrying amount	$ 1,469,917	$ 1,547,417

SCHEDULE OF GOODWILL (Details)

SCHEDULE OF GOODWILL (Details)	12 Months Ended
	Dec. 31, 2021 USD ($)
Impairment Effects on Earnings Per Share [Line Items]
Balance, December 31, 2020
Additions on acquisitions	7,190,656
Impairment
Balance, December 31, 2021	7,190,656
DuraGraft [Member]
Impairment Effects on Earnings Per Share [Line Items]
Balance, December 31, 2020
Additions on acquisitions	5,416,000
Impairment
Balance, December 31, 2021	5,416,000
My Health Logic [Member]
Impairment Effects on Earnings Per Share [Line Items]
Balance, December 31, 2020
Additions on acquisitions	1,774,656
Impairment
Balance, December 31, 2021	$ 1,774,656

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021		Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 52,866,192	$ 42,278,211		$ 28,613,000
Acquired in Somah Transaction		4,022,271	[1],[2]	14,147,729
Acquired in MHL Transaction		6,600,000
Additions		2,775		106,971
Amortization expense	(630,879)	(37,065)	[2]	(589,489)
Ending Balance	$ 52,235,313	$ 52,866,192		$ 42,278,211
[1]Measured as at Somah acquisition date of July 31, 2020, see Note 2.[2]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

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)		12 Months Ended
	Sep. 12, 2018	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Stock Issued During Period, Value, Acquisitions		$ 7,774,000	$ 12,500,000
Intangible Assets, Current		18,170,000
Impairment of Intangible Assets (Excluding Goodwill)			0
Amortization expense		37,066	589,489
Somah [Member]
Defined Benefit Plan Disclosure [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year One		841,172
Finite-Lived Intangible Asset, Expected Amortization, Year Two		$ 7,331,585
My Health Logic Inc [Member]
Defined Benefit Plan Disclosure [Line Items]
Intangibles assets				$ 6,600,000
DuraGraft and My Health Logic [Member]
Defined Benefit Plan Disclosure [Line Items]
Finite-Lived Intangible Asset, Expected Amortization, Year Five				841,172
Finite-Lived Intangible Asset, Expected Amortization, after Year Five				$ 6,700,706
Krillase Technology [Member]
Defined Benefit Plan Disclosure [Line Items]
Acquisition of intangible assets	$ 28,600,000
Stock Issued During Period, Value, Acquisitions	$ 28,600,000
DuraGraft Technology [Member]
Defined Benefit Plan Disclosure [Line Items]
Acquisition of intangible assets			$ 18,170,000

SCHEDULE OF CONVERTIBLE NOTES (

SCHEDULE OF CONVERTIBLE NOTES (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Short-Term Debt [Line Items]
Balance, December 31, 2021	$ 26,065
Convertible notes issued - new securities	7,315,138
Issuance costs	(535,717)
Debt discount	(6,779,421)
Debt accretion	1,622,730
Balance, September 30, 2022	1,648,795	26,065
Interest and accretion expenses		116,676
Convertible notes, net of debt discount	$ 1,648,795	26,065
Original Securities [Member]
Short-Term Debt [Line Items]
Convertible notes issued - new securities, outstanding at December 31, 2021		1,174,945
Issuance costs		(105,745)
Debt discount		(964,153)
Debt accretion		90,611
Extinguishment of debt in connection with December 2021 Exchange Agreements		(195,658)
New Securities [Member]
Short-Term Debt [Line Items]
Convertible notes issued - new securities, outstanding at December 31, 2021		7,456,039
Issuance costs		(671,044)
Debt discount		(6,784,995)
Debt accretion		$ 26,065

SCHEDULE OF CONVERTIBLE NOTES N

SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Convertible notes - total principal	$ 14,771,177	$ 7,482,104
Unamortized issuance costs and discount	(13,122,382)	(7,456,039)
Convertible notes, net of debt discount	$ 1,648,795	$ 26,065

CONVERTIBLE PROMISSORY NOTES _3

CONVERTIBLE PROMISSORY NOTES AND WARRANTS (Details Narrative)										1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 22, 2021 shares	Dec. 21, 2021 USD ($) $ / shares shares	Dec. 21, 2021 USD ($) $ / shares shares	Sep. 29, 2021 $ / shares	May 31, 2021 USD ($) $ / shares shares	May 27, 2021 $ / shares shares	Jun. 08, 2020 shares	Apr. 06, 2020 shares	Jan. 09, 2020 shares	Jul. 31, 2021 USD ($) shares	May 31, 2021 USD ($) $ / shares shares	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) $ / shares shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($)	Aug. 03, 2020 $ / shares shares
Short-Term Debt [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares											1,999
Sale of Stock, Price Per Share | $ / shares					$ 37.50						$ 37.50
Proceeds from Notes Payable | $					$ 74,945									$ 6,500,743	$ 1,060,949	$ 263,907
Sale of Stock, Consideration Received Per Transaction | $										$ 1,100,000	$ 74,945
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares																16,666		15,300
Debt Issuance Costs, Gross | $					$ 6,745						6,745
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares																		$ 20.63
[custom:ProRataUnits-0] | shares		42,889	42,889
[custom:AggregateProRataUnits-0] | shares		55,463	55,463
Stock Issued During Period, Shares, New Issues | shares	306,740						1,334	10,667	8,334
Fair value of warrant | $		$ 4,299,649														$ 4,447,982
Fair value of derivative liability | $		$ 2,485,346	$ 2,485,346
Interest and acceration expenses | $												$ 805,849				126,024
Interest and acceration expenses | $																$ 116,676
Debt Instrument, Convertible, Conversion Price | $ / shares																$ 26.25
Gain (Loss) on Extinguishment of Debt | $																$ 663,522
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Debt Instrument, 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		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, Convertible, Type of Equity Security														The Convertible Notes principal and accrued interest can be converted at any time at the option of the holder at a conversion price of $26.25 per share (previously $33.75 per the September 2021 Amendment and originally $37.50 per the May Unit Purchase Agreement)		The Convertible Notes principal and accrued interest can be converted at any time at the option of the holder at a conversion price of $26.25 per share (previously $33.75 per the September 2021 Amendment and originally $37.50 per the May Unit Purchase Agreement)
Debt Instrument, Convertible, Conversion Ratio														0.75		0.75
Debt Instrument, Convertible, Conversion Price | $ / shares												$ 26.25		$ 26.25
Interest Income [Member]
Short-Term Debt [Line Items]
Interest and acceration expenses | $														$ 1,622,730
Interest and acceration expenses | $													$ 70,221		$ 74,410
Maximum [Member]
Short-Term Debt [Line Items]
Debt Instrument, Convertible, Conversion Price, Decrease | $ / shares				$ 37.50
Minimum [Member]
Short-Term Debt [Line Items]
Debt Instrument, Convertible, Conversion Price, Decrease | $ / shares				33.75
Minimum [Member] | Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Equity Method Investment, Aggregate Cost | $												$ 10,000,000		$ 10,000,000		$ 10,000,000
Class A Warrants [Member]
Short-Term Debt [Line Items]
Sale of Stock, Consideration Received Per Transaction | $											$ 1,999
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares					1,999						1,999
New Class C Warrants [Member]
Short-Term Debt [Line Items]
Percentage of warrant coverage														200%		200%
Debt Instrument, Convertible, Conversion Ratio														0.75		0.75
Debt Instrument, Convertible, Conversion Price | $ / shares												$ 33.75		$ 33.75		$ 33.75
Warrant, Exercise Price, Increase | $ / shares														$ 33.75		$ 33.75
Warrants exercisable term														5 years		5 years
Unit Purchase Agreement [Member]
Short-Term Debt [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares		228,571	228,571			266,666					1,999
Sale of Stock, Price Per Share | $ / shares		$ 26.25	$ 26.25		$ 37.50	$ 37.50					$ 37.50
Debt Instrument, Description		Each Unit is comprised of (i) a convertible promissory note convertible into common stock of the Company at an initial conversion price of $26.25 and, (ii) a warrant to purchase two shares of Common Stock at an initial purchase price of $33.75 per share (the new Class C Warrant)	Each Unit is comprised of (i) a convertible promissory note convertible into common stock of the Company at an initial conversion price of $26.25 and, (ii) a warrant to purchase two shares of Common Stock at an initial purchase price of $33.75 per share (the new Class C Warrant)			Each Unit is comprised of (i) a convertible promissory note convertible into common stock of the Company, (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”)
Proceeds from Notes Payable | $											$ 74,945
Sale of Stock, Consideration Received Per Transaction | $											74,945
Debt Issuance Costs, Gross | $					$ 6,745						$ 6,745
Sale of Stock, Consideration Received on Transaction | $		$ 6,000,000	$ 6,000,000
Unit Purchase Agreement [Member] | Convertible Promissory Note [Member]
Short-Term Debt [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares		647,169
Unit Purchase Agreement [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares			647,619
Sale of Stock, Price Per Share | $ / shares				37.50
Debt Instrument, Convertible, Conversion Price, Decrease | $ / shares				37.50
Unit Purchase Agreement [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Sale of Stock, Price Per Share | $ / shares				33.75
Debt Instrument, Convertible, Conversion Price, Decrease | $ / shares				$ 33.75
Unit Purchase Agreement [Member] | Class A Warrants [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares					1,999						1,999					31,332
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares																$ 46.92
Warrants exercisable term																5 years
Unit Purchase Agreement [Member] | Class B Warrants [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares					1,999						1,999					31,332
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares																$ 75
Warrants exercisable term																5 years
Unit Purchase Agreement [Member] | New Class C Warrants [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares		457,142	457,142									557,328		557,328
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 33.75	$ 33.75									$ 33.75		$ 33.75
Warrants exercisable term			5 years											5 years
Unit Purchase Program [Member]
Short-Term Debt [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares										29,333
Proceeds from Notes Payable | $										$ 1,100,000
Sale of Stock, Consideration Received Per Transaction | $										$ 1,100,000
Unit Purchase Program [Member] | Class A Warrants [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares										29,333
Unit Purchase Program [Member] | Class B Warrants [Member]
Short-Term Debt [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares										29,333
December 2021 Exchange Agreement [Member]
Short-Term Debt [Line Items]
Sale of Stock, Number of Shares Issued in Transaction | shares														278,658
Sale of Stock, Consideration Received on Transaction | $														$ 7,315,138
Investments | $		$ 6,000,000	$ 6,000,000
Debt instrument, maturity date			Dec. 21, 2023
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 33.75	$ 33.75
Percentage of warrant coverage			200%
[custom:ProRataUnits-0] | shares		42,889	42,889
[custom:AggregateProRataUnits-0] | shares		55,463	55,463
Stock Issued During Period, Shares, New Issues | shares														278,658
[custom:StockIssuedDuringPeriodSharesIssuedToSettleNotesPayable] | shares														10,615
[custom:StockIssuedDuringPeriodSharesIssuedToSettleAccountsPayable] | shares														1,523
Stock Issued During Period, Shares, Issued for Services | shares														11,428
Fair value of warrant | $														$ 4,341,042		$ 4,299,649
Fair value of derivative liability | $												$ 2,438,379		$ 2,438,379		$ 2,485,346
[custom:WarrantCoveragePercentage]		200%
December 2021 Exchange Agreement [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Sale of Stock, Price Per Share | $ / shares		$ 33.75	$ 33.75
Debt Instrument, Convertible, Conversion Price, Decrease | $ / shares		33.75
December 2021 Exchange Agreement [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Sale of Stock, Price Per Share | $ / shares		26.25	$ 26.25
Debt Instrument, Convertible, Conversion Price, Decrease | $ / shares		$ 26.25

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)		9 Months Ended	12 Months Ended
	Apr. 06, 2020	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Number of Options, Outstanding beginning Balance		243,387	253,387	180,991
Weighted Average Exercise Price, Outstanding beginning Balance		$ 18.60	$ 20.40	$ 22.50
Weighted average contractual life term, outstanding		8 years 4 months 2 days	8 years 9 months 25 days	9 years 5 months 23 days
Number of Options, Granted		26,664	102,166	89,333
Weighted Average Exercise Price, Granted		$ 33	$ 22.65	$ 18.75
Number of Options, Forfeited		(8,333)	(112,166)
Weighted Average Exercise Price, Forfeited		$ 18.75	$ 20.40
Total Intrinsic Value, Beginning Balance		$ 1,951,117
Weighted average contractual life term, Granted		9 years 8 months 8 days
Total Intrinsic Value, Granted
Weighted average contractual life term, Expired		8 years 29 days
Total Intrinsic Value, Forfeited		$ 81,250
Number of Options, Outstanding Ending Balance		261,718	243,387	253,387
Weighted Average Exercise Price, Outstanding Ending Balance		$ 20	$ 18.60	$ 20.40
Weighted average contractual life term, outstanding		7 years 9 months 14 days	8 years 4 months 2 days	8 years 9 months 25 days
Total Intrinsic Value, Ending Balance		$ 2,344,489	$ 1,951,117
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number		203,371	159,958
Weighted Average Exercise Price, Exercisable		$ 17.55	$ 16.05
Weighted average contractual life term, exercisable		7 years 4 months 6 days	7 years 8 months 12 days
Total Intrinsic Value, exercisable		$ 2,256,558	$ 1,685,099
Number of Options, Exercised	(334)			(16,937)
Weighted Average Exercise Price, Exercised				$ 15.30

SCHEDULE OF OPTIONS OUTSTANDING

SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Intrinsic value	$ 2,344,489	$ 1,951,117
Exercise Price Range 1.01 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price	$ 15.15	$ 15.15
Share based compensation Number of option outstanding	132,391	132,388
Share based compensation number of options exercisable	132,391	132,398
Remaining Life in Years	6 years 8 months 4 days	7 years 5 months 4 days
Intrinsic value	$ 1,767,489	$ 1,509,317
Exercise Price Range 1.25 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price	$ 18.75	$ 18.75
Share based compensation Number of option outstanding	35,998	44,333
Share based compensation number of options exercisable	34,981	14,228
Remaining Life in Years	8 years 4 months 28 days	9 years 1 month 2 days
Intrinsic value	$ 351,000	$ 110,983
Exercise Price Range 1.37 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price	$ 20.55	$ 20.55
Share based compensation Number of option outstanding	13,333	13,333
Share based compensation number of options exercisable	13,333	10,666
Remaining Life in Years	7 years 10 months 17 days	8 years 7 months 17 days
Intrinsic value	$ 106,000	$ 64,000
Exercise Price Range 1.75 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price	$ 26.25	$ 26.25
Share based compensation Number of option outstanding	53,332	53,333
Share based compensation number of options exercisable	18,666	2,666
Remaining Life in Years	9 years 1 month 28 days	9 years 10 months 2 days
Intrinsic value	$ 120,000	$ 800
Exercise Price Range 1.20 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price	$ 33
Share based compensation Number of option outstanding	26,664
Share based compensation number of options exercisable	4,000
Remaining Life in Years	9 years 8 months 8 days
Intrinsic value
Exercise Price Range 1.33 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price	$ 19.95
Share based compensation Number of option outstanding	261,718
Share based compensation number of options exercisable	203,371
Remaining Life in Years	7 years 9 months 14 days
Intrinsic value	$ 2,344,489
Exercise Price Range At One Point Two Four [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price		$ 18.60
Share based compensation Number of option outstanding		243,387
Share based compensation number of options exercisable		159,958
Remaining Life in Years		8 years 4 months 2 days
Intrinsic value		$ 1,951,117

SCHEDULE OF WARRANTS OUTSTANDIN

SCHEDULE OF WARRANTS OUTSTANDING (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants outstanding, Begining balance	809,636
Weighted average exercise price, exercised	$ 33	$ 22.65	$ 18.75
Warrants outstanding, Ending balance	1,397,948	809,636
Weighted Average Exercise Price, Outstanding Ending Balance	$ 20	$ 18.60	$ 20.40
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants outstanding, Begining balance	809,636	226,232	7,574
Weighted average exercise price, outstanding, beginning balance	$ 43.50	$ 69.45	$ 45
Weighted average exercise price, issued	17.40	20.85	20.70
Warrants outstanding, issued	58,558	15,330	18,666
Warrants outstanding, Exercised	(20,000)
Weighted average exercise price, exercised	$ 0.15
Warrants outstanding, Expired	(7,574)
Weighted average exercise price, expired	$ 45
Warrants outstanding, Ending balance	1,397,948	809,636	226,232
Warrants outstanding, Ending balance	$ 39.13	$ 43.50	$ 69.45
Weighted Average Exercise Price, Outstanding Ending Balance		$ 43.50
Warrant [Member] | Somah Acquisition [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Weighted average exercise price, issued			75
Warrants outstanding, issued			199,992
Warrant [Member] | Unit Purchase Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance pursuant to unit purchase agreement	557,328	568,074
Weighted average exercise price, issued	33.75	33.75

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)																			3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 26, 2022	Mar. 15, 2022	Feb. 14, 2022	Dec. 22, 2021	Dec. 21, 2021	Dec. 21, 2021	Sep. 29, 2021	May 18, 2021	Jan. 13, 2021	Oct. 01, 2020	Sep. 25, 2020	Sep. 02, 2020	Aug. 03, 2020	Jul. 31, 2020	Jul. 28, 2020	Jun. 08, 2020	Apr. 06, 2020	Jan. 09, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 02, 2021	May 31, 2021	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized																			25,000,000		25,000,000		25,000,000	25,000,000
Preferred stock, par value per share																			$ 0.001		$ 0.001		$ 0.001	$ 0.001
Preferred stock, shares issued																			0		0		0	0
Preferred stock, shares outstanding																			0		0		0	0
Common Stock, Shares Authorized																			20,000,000		20,000,000		20,000,000	20,000,000
Common Stock, Par or Stated Value Per Share																			$ 0.001		$ 0.001		$ 0.001	$ 0.001
Stockholders' Equity Note, Changes in Capital Structure, Subsequent Changes to Number of Common Shares																					2,722,070
Common Stock, Shares, Outstanding																			2,722,070		2,722,070		2,702,070	2,395,330
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised																					20,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross																					26,664		102,166	89,333
Gross proceeds from sale of equity																					$ 5,000,000
Restricted stock award net of forfeitures																					$ 295,750
Class of Warrant or Right, Outstanding																			1,397,948		1,397,948		809,636
Class of Warrant or Right, Exercise Price of Warrants or Rights													$ 20.63
Fair Value Adjustment of Warrants					$ 4,299,649																		$ 4,447,982
Salary and Wage, NonOfficer, Excluding Cost of Good and Service Sold																			$ 330,221	$ 517,192	$ 2,147,967	2,084,430	2,887,309	$ 915,210
Professional Fees																			303,574	460,378	1,721,479	1,445,004	$ 2,269,756	1,153,731
Class of Warrant or Right, Number of Securities Called by Warrants or Rights													15,300										16,666
Share-based payment arrangement, expense																			271,517	$ 64,074	1,664,191	$ 626,449	$ 865,111	1,833,292
Unrecognized compensation cost, non vested																			$ 1,323,100		$ 1,323,100
Unrecognized compensation, weighted average period																					1 year 8 months 15 days
Stock Issued During Period, Shares, New Issues				306,740												1,334	10,667	8,334
Stock Issued During Period, Value, New Issues																$ 20,200	$ 161,600	$ 126,250						$ 6,275,164
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period																	334							16,937
Stock Issued During Period, Value, Issued for Services																								$ 237,500
Stock Issued During Period, Value, Acquisitions																							7,774,000	12,500,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period													307,333
Shares Issued, Price Per Share													$ 18.75
Sale of Stock, Description of Transaction													In consideration for services rendered as the placement agent in the private placement, the Company paid Univest Securities LLC cash commissions totaling $460,999, or 8% of the gross proceeds of the private placement closing, a 1% non-accountable expense allowance totaling $57,625, and the $31,250 balance (of a total of $37,500) due to the placement agent in advisory fees
Warrants and Rights Outstanding, Term													5 years
[custom:WarrntsExercisedOnCashlessBasis-0]													$ 100
Proceeds from Issuance of Common Stock																								$ 6,275,164
[custom:AggregateProRataUnits-0]					55,463	55,463
Restricted Stock or Unit Expense																							$ 33,333
Second Tranche [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues											66,014
Stock Issued During Period, Value, New Issues											$ 1,237,760
Proceeds from Issuance of Common Stock											1,116,566
Soma Acquisition [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Acquisitions														666,667
Stock Issued During Period, Value, Acquisitions														$ 12,500,000
Common Stock Conversion Debt [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities															4,271
Common Stock Conversion Dbebt [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Value, Conversion of Convertible Securities															$ 59,453
New Class C Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
[custom:WarrantsExercisableTerm]																					5 years		5 years
Class A Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																										1,999
Other Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights																							$ 20.85
[custom:WarrantsExercisableTerm]																							4 years 8 months 26 days
Fair Value Adjustment of Warrants																							$ 368,287
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																							15,330
Unit Purchase Agreement [Member] | New Class C Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 33.75	$ 33.75													$ 33.75		$ 33.75
[custom:WarrantsExercisableTerm]						5 years															5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights					457,142	457,142													557,328		557,328
Unit Purchase Agreement [Member] | Class A Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights																							$ 46.92
[custom:WarrantsExercisableTerm]																							5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																							31,332			1,999
Unit Purchase Agreement [Member] | Class B Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights																							$ 75
[custom:WarrantsExercisableTerm]																							5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																							31,332			1,999
Unit Purchase Agreement [Member] | Class C Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights							$ 33.75
[custom:WarrantsExercisableTerm]							5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																									13,186
[custom:AggregateProRataUnits-0]							72,598
Consulting Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights										$ 20.63
Class of Warrant or Right, Number of Securities Called by Warrants or Rights										2,424
Stock Issued During Period, Shares, Issued for Services										1,334
Shares Issued, Price Per Share										$ 18.75
Exchage Agreement [Member] | New Class C Warrants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 33.75	$ 33.75
[custom:AggregateProRataUnits-0]					110,932	110,932
Univest Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 26.25
[custom:WarrantsExercisableTerm]																					5 years
Fair Value Adjustment of Warrants																					$ 1,281,854
Warrants and Rights Outstanding	$ 15,423
Salary and Wage, NonOfficer, Excluding Cost of Good and Service Sold																					769,113
Professional Fees																					$ 512,471
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, New Issues																								373,347
Stock Issued During Period, Value, New Issues																								$ 373
Stock Issued During Period, Shares, Issued for Services																								14,335
Stock Issued During Period, Value, Issued for Services																								$ 14
Stock Issued During Period, Shares, Acquisitions																							306,740	666,667
Stock Issued During Period, Value, Acquisitions																							$ 307	$ 667
Common Stock [Member] | Somahlution Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Acquisitions														666,667
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Outstanding																			1,397,948		1,397,948		809,636	226,232			7,574
Fair Value Adjustment of Warrants											253,749
Warrant [Member] | Somahlution Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights														$ 75
Fair Value Adjustment of Warrants														$ 1,200,000
Stock Issued During Period, Shares, Acquisitions														199,992
Fair market value of warrant per share														$ 6
Warrant One [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Fair Value Adjustment of Warrants											$ 152,249
Class of Warrant or Right, Number of Securities Called by Warrants or Rights											11,200
Warrant One [Member] | Somahlution Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants and Rights Outstanding, Term											5 years
Warrant Two [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Fair Value Adjustment of Warrants											$ 101,500
Class of Warrant or Right, Number of Securities Called by Warrants or Rights											7,466
Fair market value of warrant per share											$ 13.59
Two Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Class of Warrant or Right, Exercise Price of Warrants or Rights											$ 20.63
Warrants and Rights Outstanding, Term											5 years
Director [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross																					26,664		59,998
Bradely Richmond [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised		20,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted			20,000
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 0.15
[custom:WarrantsExercisableTerm]																					5 years
Fair Value Adjustment of Warrants																					$ 568,677
Warrants and Rights Outstanding	$ 23,135
Bradely Richmond [Member] | Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted			20,000
Bradely Richmond [Member] | Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted	38,558
Consultant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Issued for Services															1,334		1,000
Stock Issued During Period, Value, Issued for Services															$ 25,000		$ 15,150
Bruce Harmon [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross												2,667
Directors Senior Officers And Consultants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Restricted stock award net of forfeitures
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures																							23,333
Stock Incentive Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized								353,333	353,333
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant																			91,615		91,615		109,946

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Related party transactions owned	$ 123,266		$ 123,266		$ 1,132,634
Related party transactions, professional expenses			133,797		50,400
Related party transaction, amounts of transaction			149,178		92,356
Prepaid royalties	339,091		339,091		339,091	344,321
Proceeds from related party					168,907
Related party transactions, administrative and general expenses					41,956
Professional Fees	303,574	$ 460,378	1,721,479	$ 1,445,004	2,269,756	1,153,731
Frank Maresca [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Related party transactions owned	$ 123,266		123,266		1,132,634
Related party transaction, amounts of transaction					871,371
Proceeds from related party					95,000
Related party transactions, administrative and general expenses					198,841
Professional Fees					360,000	180,000
Maresca [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Related party transactions, professional expenses			240,000	$ 300,000
Related party transaction, amounts of transaction			$ 121,316
Mr Richmond [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Related party transaction, amounts of transaction					168,907
Related party transactions, administrative and general expenses					$ 368,500

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)				3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 19, 2021	Jul. 13, 2019	Jul. 16, 2015	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Aug. 03, 2020
Loss Contingencies [Line Items]
Salary and wage				$ 330,221	$ 517,192	$ 2,147,967	$ 2,084,430	$ 2,887,309	$ 915,210
Option shares						26,664		102,166	89,333
Shares Issued, Price Per Share										$ 18.75
Royalties percentage						10%		10%
Consideration payment on legal matters			$ 9,450,000
DuraGraft [Member]
Loss Contingencies [Line Items]
Sale of asset percentage						15%		15%
DuraGraft [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Net proceeds from sale of asset						$ 20,000,000		$ 20,000,000
UNITED STATES | First 50,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage						5%		5%
UNITED STATES | 50,000,001 up to 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage						4%		4%
UNITED STATES | Over 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage						2%		2%
Non-US [Member] | First 50,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage						6%		6%
Non-US [Member] | 50,000,001 up to 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage						4%		4%
Non-US [Member] | Over 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage						2%		2%
July 13, 2022 [Member]
Loss Contingencies [Line Items]
Salary and wage		$ 30,000
July 13, 2021 [Member]
Loss Contingencies [Line Items]
Option shares		16,666
Shares Issued, Price Per Share		$ 22.50
Campbell [Member]
Loss Contingencies [Line Items]
Damages sought, value	$ 30,000
Harmon [Member]
Loss Contingencies [Line Items]
Damages sought, value	$ 50,000

SCHEDULE OF PRELIMINARY ALLOC_2

SCHEDULE OF PRELIMINARY ALLOCATION OF CONSIDERATION (Details) (Parenthetical) - Somah Acquisition [Member] - USD ($)	Jul. 31, 2020	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Purchase price consideration	$ 9,926,000
Business Combination, Contingent Consideration, Liability	$ 1,387,000	$ 11,313,000

SCHEDULE OF ASSETS AND LIABILIT

SCHEDULE OF ASSETS AND LIABILITIES ACQUIRED AND PURCHASE CONSIDERATION (Details) - My Health Logic [Member]	12 Months Ended
	Dec. 31, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Common shares	$ 7,774,000
Total consideration	7,774,000
Net working deficit	(613,156)
Property, plant, and equipment	12,500
Intangible assets	6,600,000
Goodwill	1,774,656
Total identifiable assets	$ 7,774,000

SCHEDULE OF RIGHT-OF-USE ASSETS

SCHEDULE OF RIGHT-OF-USE ASSETS AND RELATED LEASE LIABILITIES (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Events [Abstract]
Right-of-use asset	$ 1,576,445	$ 1,158,776	$ 1,317,830
Operating lease liabilities, current	420,913	277,142	243,292
Operating lease liabilities, non-current	1,155,532	881,634	1,074,538
Total operating lease liabilities	$ 1,576,445	$ 1,158,776	$ 1,317,830

SCHEDULE OF INTANGIBLE ASSETS_2

SCHEDULE OF INTANGIBLE ASSETS (Details) (Parenthetical)	12 Months Ended
	Dec. 31, 2021 USD ($)
Subsequent Events [Abstract]
Amortization of Intangible Assets	$ 4,022,271
Amortization of intangible assets	$ 898,026

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)

9 Months Ended

12 Months Ended

Jan. 17, 2023

Jan. 03, 2023

Oct. 31, 2022

Mar. 15, 2022

Feb. 14, 2022

Jan. 26, 2022

Jan. 24, 2022

Jan. 13, 2022

Dec. 22, 2021

Oct. 01, 2020

Jun. 08, 2020

Apr. 06, 2020

Jan. 09, 2020

Sep. 30, 2022

Dec. 31, 2020

Dec. 31, 2021

Aug. 03, 2020

Subsequent Event [Line Items]

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period

334

16,937

Stock Issued During Period, Shares, New Issues

306,740

1,334

10,667

8,334

Shares Issued, Price Per Share

$ 18.75

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

16,666

15,300

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 20.63

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised

20,000

Common Stock [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, New Issues

373,347

Stock Issued During Period, Shares, Issued for Services

14,335

Bradely Richmond [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted

20,000

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 0.15

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised

20,000

Bradely Richmond [Member] | Common Stock [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted

20,000

Consulting Agreement [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, Issued for Services

1,334

Shares Issued, Price Per Share

$ 18.75

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

2,424

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 20.63

Subsequent Event [Member] | Common Stock [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, Issued for Services

50,294

3.75

Subsequent Event [Member] | Consultants [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, Issued for Services

1,523

Shares Issued, Price Per Share

$ 26.25

Debt Instrument, Face Amount

$ 40,000

Subsequent Event [Member] | Consultants [Member] | Common Class C [Member]

Subsequent Event [Line Items]

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

3,047

Subsequent Event [Member] | Two Unrelated Investors [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, New Issues

10,615

Shares Issued, Price Per Share

$ 26.25

Debt Instrument, Face Amount

$ 278,678

Subsequent Event [Member] | Two Unrelated Investors [Member] | Common Class C [Member]

Subsequent Event [Line Items]

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

21,231

Subsequent Event [Member] | Bradely Richmond [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, New Issues

20,000

Stock Issued During Period, Shares, Issued for Services

11,428

Shares Issued, Price Per Share

$ 26.25

Debt Instrument, Face Amount

$ 300,000

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted

20,000

Class of Warrant or Right, Exercise Price of Warrants or Rights

$ 0.15

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Exercised

20,000

Subsequent Event [Member] | Bradely Richmond [Member] | Common Stock [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted

20,000

Subsequent Event [Member] | Bradely Richmond [Member] | Common Class C [Member]

Subsequent Event [Line Items]

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

22,856

Subsequent Event [Member] | Consulting Agreement [Member]

Subsequent Event [Line Items]

Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period

18,249

Subsequent Event [Member] | Letter Agreement [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, New Issues

111,091

SCHEDULE OF ACCOUNTS PAYABLE AN

SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Trade accounts payable	$ 1,465,860	$ 325,830
Accrued expenses	8,215	21,555
Accrued compensation expenses	122,072	130,718
Total accounts payable and accrued expenses	$ 1,596,147	$ 478,103

SCHEDULE OF SHARES BASED STOCK

SCHEDULE OF SHARES BASED STOCK OPTION VALUATION ASSUMPTIONS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Risk-free interest rate	1.09%	0.93%
Volatility	252.08%	241.88%
Exercise price	$ 22.65	$ 20.55
Dividend yield	0%	0%
Forfeiture rate	0%	0%
Expected life (years)	6 years 4 months 17 days	10 years

SCHEDULE OF NET LOSS DOMESTIC A

SCHEDULE OF NET LOSS DOMESTIC AND FOREIGN JURISDICTIONS (Details) - USD ($)	3 Months Ended						9 Months Ended		12 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Total	$ (1,552,638)	$ (6,923,984)	$ (6,124,885)	$ (1,631,999)	$ (1,638,928)	$ (2,211,866)	$ (14,601,507)	$ (5,482,793)	$ (10,997,929)	$ (5,845,053)
UNITED STATES
Total									(10,997,929)	(5,845,053)
International [Member]
Total

SCHEDULE OF INCOME TAX EXPENSE

SCHEDULE OF INCOME TAX EXPENSE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Tax expense (benefit) at the statutory rate	$ (2,309,565)	$ (1,227,461)
Non-deductible items	620,855	384,991
Deferred true-ups	(119,782)	124,206
Change in valuation allowance	(2,309,565)	718,264
Total

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforward	$ 8,758,337	$ 6,504,000
Lease liability	277,142	277,000
Deferred tax assets before valuation allowance	9,035,479	6,781,000
Less: deferred tax asset valuation allowance	(5,093,324)	(3,284,382)
Total deferred tax asset after valuation allowance	3,942,155	3,496,618
Deferred tax liabilities:
Intangible assets	(3,665,013)	(3,219,618)
Fixed assets	(277,142)	(277,000)
Total deferred tax liabilities	3,942,155	3,496,618
Total net deferred tax asset (liability)

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Net operating loss carry forwards	$ 41,706,000	$ 30,971,000
Net operating loss carryforwards expiration	expected to expire at various times through 2041
Federal income tax rate	21%	21%
[custom:ValuationAllowancePercentage]	100%	100%
Deferred tax assets, valuation allowance	$ 5,093,324	$ 3,284,382
Operating loss carryforward description	The CARES Act, among other things, permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes.
Two Thousand Eighteen Through Two Thousand Twenty Five [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Percent	10.50%
After Two Thousand Twenty Five [Member]
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate Reconciliation, Percent	13.125%

REVERSE STOCK SPLIT (Details Na

REVERSE STOCK SPLIT (Details Narrative) - shares					12 Months Ended
	Jan. 17, 2023	Jan. 13, 2023	Jan. 03, 2023	Aug. 01, 2022	Dec. 31, 2020	Jan. 16, 2023	Jan. 12, 2023	Jan. 02, 2023	Sep. 30, 2022	Aug. 26, 2022	Aug. 25, 2022	Jul. 31, 2022	Dec. 31, 2021
Common stock, shares authorized					20,000,000				20,000,000				20,000,000
Common stock, shares issued					2,395,330				2,722,070				2,702,070
Common stock, shares outstanding					2,395,330				2,722,070				2,702,070
Stock Issued During Period, Shares, Reverse Stock Splits				2,722,070
Common Stock [Member]
Common stock, shares authorized					14,335
Reverse stock split description	At that time, the number of shares of common stock held by each stockholder as reflected in the records of the Company’s transfer agent or the stockholder’s brokerage firm records will be reduced by 1,500% to reflect the processing of the Consolidated Reverse Stock Split. At market open the following trading day, which as anticipated will be the first day that the common stock trades on Nasdaq, the price of the common stock will reflect a 1,500% increase as a result of the processing of the Consolidated Reverse Stock Split. The common stock will trade on Nasdaq under its current ticker symbol, “MRZM,” but will trade under a new CUSIP Number, 570372 201. The Company also intends to file a Current Report on Form 8-K reporting FINRA’s announcement of the Consolidated Reverse Stock Split and related material matters
Subsequent Event [Member]
Common stock, shares authorized			20,000,000							75,000,000
Subsequent Event [Member] | Common Stock [Member]
Common stock, shares authorized								75,000,000			18,750,000
Common stock, shares authorized	50,294		3.75
Subsequent Event [Member] | Common Stock [Member] | Third Certificate Of Change [Member]
Common stock, shares authorized		75,000,000					20,000,000
Common stock, shares authorized		3.75
Subsequent Event [Member] | Common Stock [Member] | Fourth Certificate Of Change [Member]
Common stock, shares authorized	300,000,000					75,000,000
Subsequent Event [Member] | Common Stock [Member] | Fifth Certificate Of Change [Member]
Common stock, shares authorized	20,000,000					300,000,000
Common stock, shares authorized		1
Common stock, shares issued						15
Common stock, shares outstanding	15
Board Of Directors [Member] | Subsequent Event [Member] | Common Stock [Member]
Common stock, shares authorized				18,750,000								75,000,000