Marizyme (MRZM) 10-Q 18 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Aug. 18, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	000-53223
Entity Registrant Name	MARIZYME, INC.
Entity Central Index Key	0001413754
Entity Tax Identification Number	82-5464863
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	555 Heritage Drive
Entity Address, Address Line Two	Suite 205
Entity Address, City or Town	Jupiter
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33458
City Area Code	(561)
Local Phone Number	935-9955
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		45,666,760

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Current
Cash	$ 205,226	$ 510,865
Accounts receivable	72,975	87,801
Other receivables	34,306	15,310
Prepaid expenses	606,347	1,125,761
Inventory	139,723	215,566
Total current assets	1,058,577	1,955,303
Non-current
Property, plant and equipment, net	12,500	12,545
Operating lease right-of-use assets, net	1,294,442	1,485,023
Intangible assets, net	27,254,434	27,675,020
Prepaid royalties, non-current	140,843	339,091
Deposits	30,000	30,000
Goodwill	7,190,656	7,190,656
Total non-current assets	35,922,875	36,732,335
Total assets	36,981,452	38,687,638
Current
Accounts payable and accrued expenses	2,038,005	1,365,443
Notes payable	283,290	1,132,829
Convertible notes- Units Private Placement	12,316,495
Convertible notes - OID	150,086
Derivative liabilities	5,461,702
Operating lease obligations	428,789	423,495
Total current liabilities	20,821,718	2,921,767
Non-current
Operating lease obligations, net of current portion	865,653	1,061,528
Convertible notes– Units Private Placement	307,425	2,751,633
Derivative liabilities		4,823,725
Contingent liabilities	7,717,000	9,707,000
Total non-current liabilities	8,890,078	18,343,886
Total liabilities	29,711,796	21,265,653
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $0.001 par value, 25,000,000 shares authorized, no shares issued and outstanding as of June 30, 2023 and December 31, 2022
Common stock, par value $0.001, 300,000,000 shares authorized, issued and outstanding shares - 45,366,760 at June 30, 2023 and 40,528,191 at December 31, 2022	45,366	40,528
Additional paid-in capital	116,344,709	103,370,890
Accumulated deficit	(109,120,419)	(85,989,433)
Total stockholders’ equity	7,269,656	17,421,985
Total liabilities and stockholders’ equity	36,981,452	38,687,638
Related Party [Member]
Current
Due to related parties	$ 143,351

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	45,366,760	40,528,191
Common stock, shares outstanding	45,366,760	40,528,191

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 184,739	$ 61,809	$ 313,713	$ 61,809
Direct cost of revenue	49,611	11,025	88,886	11,025
Gross profit	135,128	50,784	224,827	50,784
Operating expenses:
Professional fees (includes related party amounts of $161,000, $163,200, $322,000 and $266,400 respectively)	511,844	873,865	896,650	1,417,905
Salary expenses	335,004	902,106	601,972	1,817,746
Research and development	691,393	1,371,470	1,297,390	2,589,766
Stock-based compensation	160,762	676,242	371,728	1,392,674
Depreciation and amortization	210,293	210,361	420,631	420,722
Royalty expense	162,065		198,248
Other general and administrative expenses	2,867,749	618,498	3,375,073	1,009,070
Total operating expenses	4,939,110	4,652,542	7,161,692	8,647,883
Total operating loss	(4,803,982)	(4,601,758)	(6,936,865)	(8,597,099)
Other income (expense)
Interest and accretion expenses	(13,424,169)	(530,226)	(15,121,870)	(829,770)
Change in fair value of contingent liabilities	714,000	(1,792,000)	1,990,000	(3,622,000)
Loss on debt extinguishment	(684,682)		(684,682)
Loss on issuance of debt	(2,377,569)		(2,377,569)
Total other income (expense)	(15,772,420)	(2,322,226)	(16,194,121)	(4,451,770)
Net loss	$ (20,576,402)	$ (6,923,984)	$ (23,130,986)	$ (13,048,869)
Loss per share – basic	$ (0.48)	$ (0.17)	$ (0.55)	$ (0.32)
Loss per share - diluted	$ (0.48)	$ (0.17)	$ (0.55)	$ (0.32)
Weighted average number of shares of common stock outstanding – basic	43,187,439	40,828,188	41,979,194	40,728,740
Weighted average number of shares of common stock outstanding - diluted	43,187,439	40,828,188	41,979,194	40,728,740

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Related Party Transaction [Line Items]
Professional fees related paty	$ 511,844	$ 873,865	$ 896,650	$ 1,417,905
Related Party [Member]
Related Party Transaction [Line Items]
Professional fees related paty	$ 161,000	$ 163,200	$ 322,000	$ 266,400

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
Balance at Dec. 31, 2021	$ 40,528	$ 95,473,367	$ (47,823,563)	$ 47,690,332
Balance, shares at Dec. 31, 2021	40,528,188
Stock-based compensation expense		716,432		716,432
Issuance of warrants		2,969,916		2,969,916
Exercise of warrants	$ 300	2,700		3,000
Exercise of warrants, shares	300,000
Net loss			(6,124,885)	(6,124,885)
Balance at Mar. 31, 2022	$ 40,828	99,162,415	(53,948,448)	45,254,795
Balance, shares at Mar. 31, 2022	40,828,188
Balance at Dec. 31, 2021	$ 40,528	95,473,367	(47,823,563)	47,690,332
Balance, shares at Dec. 31, 2021	40,528,188
Net loss				(13,048,869)
Balance at Jun. 30, 2022	$ 40,828	102,180,316	(60,872,432)	41,348,712
Balance, shares at Jun. 30, 2022	40,828,188
Balance at Mar. 31, 2022	$ 40,828	99,162,415	(53,948,448)	45,254,795
Balance, shares at Mar. 31, 2022	40,828,188
Stock-based compensation expense		676,242		676,242
Issuance of warrants		2,341,659		2,341,659
Net loss			(6,923,984)	(6,923,984)
Balance at Jun. 30, 2022	$ 40,828	102,180,316	(60,872,432)	41,348,712
Balance, shares at Jun. 30, 2022	40,828,188
Balance at Dec. 31, 2022	$ 40,528	103,370,890	(85,989,433)	17,421,985
Balance, shares at Dec. 31, 2022	40,528,191
Stock-based compensation expense		210,966		210,966
Net loss			(2,554,584)	(2,554,584)
Issuance of shares	$ 240	153,360		153,600
Issuance of shares, shares	240,000
Balance at Mar. 31, 2023	$ 40,768	103,735,216	(88,544,017)	15,231,967
Balance, shares at Mar. 31, 2023	40,768,191
Balance at Dec. 31, 2022	$ 40,528	103,370,890	(85,989,433)	17,421,985
Balance, shares at Dec. 31, 2022	40,528,191
Net loss				(23,130,986)
Issuance of warrants on debt extinguishment				19,058,426
Balance at Jun. 30, 2023	$ 45,366	116,344,709	(109,120,419)	7,269,656
Balance, shares at Jun. 30, 2023	45,366,760
Balance at Mar. 31, 2023	$ 40,768	103,735,216	(88,544,017)	15,231,967
Balance, shares at Mar. 31, 2023	40,768,191
Stock-based compensation expense		160,762		160,762
Exercise of warrants	$ 2,652	262,564		265,216
Exercise of warrants, shares	2,652,159
Net loss			(20,576,402)	(20,576,402)
Issuance of shares	$ 1,946	221,540		223,486
Issuance of shares, shares	1,946,410
Issuance of warrants on debt extinguishment		19,058,426		19,058,426
Issuance of warrants on promissory note		1,333,128		1,333,128
Warrants cancelled in debt extinguishment		(8,426,927)		(8,426,927)
Balance at Jun. 30, 2023	$ 45,366	$ 116,344,709	$ (109,120,419)	$ 7,269,656
Balance, shares at Jun. 30, 2023	45,366,760

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (23,130,986)	$ (13,048,869)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	420,631	420,722
Stock-based compensation	371,728	1,392,674
Interest and accretion on convertible notes and notes payable	15,121,870	829,770
Issuance of warrants for services		1,850,533
Change in fair value of contingent liabilities	(1,990,000)	3,622,000
Loss on debt extinguishment	684,682
Loss on issuance of debt	2,377,569
Shares issued as part of the Confidential Settlement Agreement	153,600
Shares issued for services	138,000
Warrants issued as part of promissory  note agreement	1,333,128
Change in operating assets and liabilities:
Accounts and other receivable	(4,171)	(15,715)
Prepaid expenses	519,414	21,787
Inventory	75,843	(246,060)
Accounts payable and accrued expenses	1,467,328	(973,544)
Due to related parties	143,351	(908,973)
Net cash used in operating activities	(2,318,013)	(7,055,675)
Cash flows from financing activities:
Proceeds from issuance of Convertible Notes - OID, net of issuance cost	870,000	5,120,743
Proceeds from shares issued for exercise of warrants	265,216	3,000
Proceeds from promissory notes, net of repayments	877,158	(95,431)
Net cash provided by financing activities	2,012,374	5,028,312
Net change in cash	(305,639)	(2,027,363)
Cash at beginning of period	510,865	4,072,339
Cash at end of period	205,226	2,044,976
Supplemental disclosure of cash flow information:
Cash paid for interest
Cash paid for taxes
Non-cash investing and financing activities:
Derivative liabilities and debt discount issued in connection with convertible notes	5,461,702	1,938,379
Warrants and debt discount issued in connection with convertible notes	19,058,426	3,461,042
Settlement of notes payable with convertible notes	2,064,133	278,678
Warrants cancelled in debt extinguishment	8,426,927
Shares issued on conversion of convertible notes	$ 84,140

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	6 Months Ended
	Jun. 30, 2023
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 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 OTCQB tier of OTC Markets Group, Inc. under the symbol “MRZM”.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Jun. 30, 2023
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, which require the Company to rely on investing and financing activities in order 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 $ 109,120,419 85,989,433 19,763,141 966,464 205,226 510,865 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 and receive an approval from the U.S. Food and Drug Administration (“FDA”) to extend the selling of its products into the U.S. market which may result in the Company attaining profitable operations. During the next twelve months from the date the unaudited condensed 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 Securities and Exchange Commission (“SEC”), and the payment of expenses associated with its product development. The Company may experience a cash shortfall and be required to raise additional capital. Management intends to raise additional funds by way of a private or public offering. While the Company believes in the viability of its strategy to continue to develop and expand its products and generate sufficient revenue and in its ability to raise additional funds, there can be no assurances to that effect. The ability of the Company to continue as a going concern is dependent upon the Company’s ability to further implement its business plan and generate sufficient revenue and its ability to raise additional funds by way of a public or private offering. The unaudited condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2023
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”), and Marizyme Sciences, Inc. (“Marizyme Sciences”). All intercompany transactions have been eliminated on consolidation. The accompanying unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with 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 24, 2023 (the “2022 Form 10-K”). The condensed consolidated balance sheet as of December 31, 2022 was derived from audited consolidated financial statements included in the 2022 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 or any future periods. 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 condensed consolidated statements of operations. As of June 30, 2023, the Company had deferred offering costs of $ Nil 387,412 ) reported as a prepaid expense on the accompanying condensed consolidated balance sheets, and expensed an aggregate of $ 1,203,537 of deferred offering costs - $ 535,717 of which was related to the extinguishment of 2021 Unit Purchase Agreement (see Note 7) and $ 667,820 related to a planned uplisting, which was not pursued due to a management’s decision to seek different means to obtain financing. Use of Estimates The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make use of certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited 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 recoverability of long-term assets including intangible assets and goodwill, amortization expense, valuation of warrants, stock-based compensation, derivative liabilities and contingent liabilities. 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 Somahlution 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. 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 5.96 582,000 1,206,000 2,092,000 2,898,000 221,000 1,427,000 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 20.6 129,000 796,000 293,000 772,000 4,606,000 5,402,000 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 3,000 12,000 7,000 48,000 1,067,000 1,055,000 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 No 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 convertible promissory notes and warrants transactions as described in 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 of June 30, 2023, and December 31, 2022, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS June 30, 2023 Level 1 Level 2 Level 3 Fair Value Hierarchy June 30, 2023 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 5,461,702 Contingent liabilities - - 7,717,000 Total $ - $ - $ 13,178,702 December 31, 2022 Level 1 Level 2 Level 3 Fair Value Hierarchy December 31, 2022 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 4,823,725 Contingent liabilities - - 9,707,000 Total $ - $ - $ 14,530,725 The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: SCHEDULE OF LIABILITIES FAIR VALUE MEASURED Derivative and Contingent Liabilities Balance at December 31, 2022 $ 14,530,725 Change in fair value of contingent liabilities (1,990,000 ) Derivative liabilities extinguished pursuant to Unit Private Placement (Note 7) (4,823,725 ) Derivative liabilities issued pursuant to OID Purchase Agreement (Note 7) 5,461,702 Balance at June 30, 2023 $ 13,178,702 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 estimates 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. New Accounting Standards and Updates from the Securities and Exchange Commission In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Topic 326)”. The new standard amends guidance on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. In February 2020, the FASB issued ASU 2020-02, “Financial Instruments-Credit Losses (Topic 326)” and “Leases (Topic 842)” - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842), which amends the effective date of the original pronouncement for smaller reporting companies. ASU 2016-13 and its amendments will be effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2022. Current Expected Credit Losses estimates of expected credit losses on trade receivables over their life will be required to be recorded at inception, based on historical information, current conditions, and reasonable and supportable forecasts. The Company adopted the standard in its first quarter of 2023. There was no material impact on the results of operations.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2023
Leases
LEASES	NOTE 4 – LEASES On December 11, 2020, the Company entered into a five-and-a-half-year lease agreement 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 an additional 3,053 15,260 15,641 2.5 12,000 17,500 3.08 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 six months ended June 30, 2023 was $ 37,674 192,502 110,353 221,253 The following table summarizes supplemental condensed consolidated balance sheet information related to the operating leases as of June 30, 2023, and December 31, 2022: SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITIES June 30, 2023 December 31, 2022 Right-of-use assets $ 1,294,442 $ 1,485,023 Operating lease liabilities, current $ 428,789 $ 423,495 Operating lease liabilities, non-current 865,653 1,061,528 Total operating lease liabilities $ 1,294,442 $ 1,485,023 As of June 30, 2023, the maturities of the lease liabilities for the periods ending December 31 are as follows: SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES 2023 $ 211,747 2024 434,082 2025 444,934 2026 266,034 Total lease payments 1,356,797 Less: Present value discount (62,355 ) Total $ 1,294,442

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 5 – 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 At December 31, 2022, management determined that the carrying value of Krillase exceeded its recoverable amount. Impairment of $ 24,350,000 no DuraGraft As part of Somahlution acquisition in 2020, Marizyme purchased $ 18,170,000 No My Health Logic As part of My Health Logic acquisition completed on December 22, 2021, 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 No SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE June 30, 2023 Gross Accumulated Net Krillase intangible assets $ 4,250,000 $ - $ 4,250,000 Patents in process 122,745 - 122,745 DuraGraft patent 5,256,000 (1,179,230 ) 4,076,770 DuraGraft - Distributor relationship 308,000 (89,833 ) 218,167 DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 My Health Logic - Trade name 450,000 (49,018 ) 400,982 My Health Logic - Biotechnology 4,600,000 (412,647 ) 4,187,353 My Health Logic - Software 1,550,000 (157,583 ) 1,392,417 Total intangibles $ 29,142,745 $ (1,888,311 ) $ 27,254,434 December 31, 2022 Gross Carrying Accumulated Impairment Net Carrying Krillase intangible assets $ 28,600,000 $ - $ (24,350,000 ) $ 4,250,000 Patents in process 122,745 - - 122,745 DuraGraft patent 5,256,000 (977,076 ) - 4,278,924 DuraGraft - Distributor relationship 308,000 (74,433 ) - 233,567 DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - - 12,606,000 My Health Logic - Trade name 450,000 (32,947 ) - 417,053 My Health Logic - Biotechnology 4,600,000 (277,353 ) - 4,322,647 My Health Logic - Software 1,550,000 (105,916 ) - 1,444,084 Total intangibles $ 53,492,745 $ (1,467,725 ) $ (24,350,000 ) $ 27,675,020 SCHEDULE OF GOODWILL Goodwill DuraGraft My Health Logic Total Balance, June 30, 2023 and December 31, 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, 2021 $ 52,866,192 Impairment (24,350,000 ) Amortization expense (841,172 ) Balance, December 31, 2022 27,675,020 Amortization expense (420,586 ) Balance, June 30, 2023 $ 27,254,434 Future amortizations for DuraGraft and My Health Logic intangible assets for the remaining six month of the fiscal 2023 will be $ 420,586 841,172 for each year, and 6,069,827

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2023
Notes Payable
NOTES PAYABLE	NOTE 6 – NOTES PAYABLE a) On October 23, 2022, the Company issued a note payable to Hub International for $ 204,050 6.75 September 23, 2023 41,887 164,729 b) On December 28, 2022, the Company issued a promissory note to Hexin for the principal amount of $ 750,000 20 June 28, 2023 25,914 64,133 Nil Nil 814,133 9,578,040 c) On February 2, 2023, the Company issued an unsecured promissory note to Walleye Opportunities Master Fund Ltd. (the “Walleye Promissory Note”) for $ 1,000,000 May 7, 2023 1,250,000 1,000,000 1,250,000 1,250,000 14,705,890 d) As part of the My Health Logic Inc. acquisition, completed in November 2021, 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. The Company settled an aggregate of $ 278,678 of these notes payable as part of Unit Purchase Agreement issuances during the year ended December 31, 2022 (see Note 7). For the three and six months ended June 30, 2023, the Company accrued $ 5,298 and $ 18,366 in interest on the notes payable, respectively (June 30, 2022 - $ 4,501 and $ 10,586 , respectively). As of June 30, 2023, balance of the remaining note payable was $ 241,403 (December 31, 2022 - $ 218,100 ).

CONVERTIBLE PROMISSORY NOTES AN

CONVERTIBLE PROMISSORY NOTES AND WARRANTS	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
CONVERTIBLE PROMISSORY NOTES AND WARRANTS	NOTE 7 - CONVERTIBLE PROMISSORY NOTES AND WARRANTS 2021 Convertible Notes and Warrants From May 2021 to August 2022, the Company conducted a private placement (the “Units Private Placement”) of units (the “Units”) consisting of 10% secured convertible promissory notes (the “Convertible Notes”) and accompanying warrants (the “Class C Warrants”), as were modified or amended from time to time. The most recent terms of the Convertible Notes and Class C Warrants were as follows: 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 $1.75 per share. 10,000,000 75 1.75 In the event that the Company consummates, while the Convertible Note is outstanding, an equity financing with a gross aggregate amount of securities sold less than $ 10,000,000 1.75 2.25 Class C Warrants Terms ● Exercise price is the lower of (i) $ 2.25 75 2.25 ● Exercisable for a period of 5 ● Warrant Coverage: 200 The Company determined that the optional and automatic conversion feature and the share redemption feature attached to the Convertible Notes met the definition of derivative liabilities and that the detachable warrants issued did not meet the definition of a liability and therefore was accounted for as an equity instrument. The fair value of the warrants issued and the fair value of derivative liabilities issued have been recorded as debt discount and are being amortized to interest and accretion expense using the effective interest method over the term of the Convertible Notes. In 2021, the Company issued an aggregate of 4,260,594 6,692,765 4,180,071 6,500,743 Adjustment to Conversion Price of Convertible Notes and Exercise Price of Class C Warrants On April 13, 2023, the Company obtained exercise and conversion rights waivers and amendments from holders of the Convertible Notes and Class C Warrants (“Original Securities”), pursuant to which, the conversion price of the Convertible Notes and the exercise price of the Class C Warrants was adjusted to $ 0.10 14,432,996 16,538,486 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 April 13, 2023, and the New Securities accounted for as a new debt issuance. As a result of this substantial modification, a total of 8,269,237 Units outstanding were replaced with an aggregate of 1 90,584,260 pro rata Units, and a loss on debt extinguishment of $ 684,682 was recorded in condensed consolidated statements of operations for the six months ended June 30, 2023 (June 30, 2022 - $ Nil ). The Company determined that the optional conversion feature attached to the Convertible Notes did not meet the definition of derivative liabilities and that the detachable warrants issued did not meet the definition of a liability and therefore was accounted for as an equity instrument. The fair value of $ 19,058,426 During the three and six months ended June 30, 2023, the Company recognized interest and accretion expense of $ 5,730,714 7,286,891 524,884 816,881 Each of the Convertible Notes provides that any default on indebtedness of more than $ 100,000 1,000,000 May 7, 2023 135 The aggregate Mandatory Default Amount that may be due under the Convertible Notes was $ 27,996,132 Therefore, as a result of the event of the default, the Company accreted 7,258,256 ings The following table summarizes supplemental balance sheet information related to the convertible notes, net of debt discount outstanding, as of June 30, 2023, and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTES Convertible Notes, Net of Debt Discount Balance, December 31, 2021 $ 26,065 Principal of Convertible Notes issued - Original securities 7,315,138 Issuance costs (535,717 ) Debt discount (6,479,421 ) Debt accretion 2,763,749 Debt extinguishment (338,181 ) Balance, December 31, 2022 2,751,633 Debt accretion on Original securities 1,835,741 Debt extinguishment (4,587,374 ) Principal of Convertible Notes issued - New securities 19,058,426 Debt discount (19,058,426 ) Debt accretion on New Securities 5,451,150 Debt accretion associated with Mandatory Default Amount 7,258,256 Conversion of debt (85,486 ) Balance, June 30, 2023 $ 12,623,920 SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT June 30, 2023 December 31, 2022 Convertible notes - total principal $ 18,824,730 $ 14,432,996 Mandatory Default Amount 7,258,256 - Unamortized issuance costs and discount (13,459,066 ) (11,681,363 ) Convertible Notes, Net of Debt Discount $ 12,623,920 $ 2,751,633 June 30, 2023 December 31, 2022 Current portion $ 12,316,495 $ - Non-current portion 307,425 2,751,633 Convertible Notes, Net of Debt Discount $ 12,623,920 $ 2,751,633 2023 Convertible Notes and Warrants On May 12, 2023, the Company conducted the initial closing (the “OID Units Initial Closing”) of a private placement of up to $ 10,000,000 100,000,000 0.10 0.10 0.20 As part of the OID Units Initial Closing and on the same date, Walleye Opportunities Master Fund Ltd. (“Walleye”) paid a subscription amount of $ 1,000,000 11,764,710 1,176,471 11,764,710 0.10 14,705,880 14,705,880 On May 30, 2023, the Company conducted the second closing (the “OID Units Second Closing”) of the OID Units Private Placement. In the OID Units Second Closing, Hexin Global Ltd. (“Hexin”) and Walleye agreed to the cancellation of the Hexin Promissory Note and the Walleye Promissory Note (see Note 6), respectively, and Frank Maresca (“Maresca”), a consultant to the Company, agreed to the cancellation of certain indebtedness, in exchange for OID Units and related agreements, as described below. First, under a Cancellation and Exchange Agreement, dated as of May 30, 2023, between the Company and Hexin (the “Hexin Cancellation Agreement”), Hexin agreed to cancel the Hexin Promissory Note (see Note 6) in exchange for the issuance of 9,578,040 957,804 814,133 9,578,040 0.10 11,972,550 0.10 11,972,550 0.20 Second, under a Cancellation and Exchange Agreement, dated as of May 30, 2023, between the Company and Walleye (the “Walleye Cancellation Agreement”), Walleye agreed to cancel the Walleye Promissory Note (see Note 6) in exchange for the issuance of 14,705,890 1,470,589 1,250,000 14,705,890 0.10 18,382,362 0.10 18,382,362 0.20 Third, under a Cancellation and Exchange Agreement, dated as of May 30, 2023, between the Company and Maresca (the “Maresca Cancellation Agreement” and together with the Hexin Cancellation Agreement and the Walleye Cancellation Agreement, the “Cancellation and Exchange Agreements”), Maresca agreed to cancel $150,000 of the aggregate short-term indebtedness to Maresca, which arose in the ordinary course of business for certain consulting services provided by Maresca to the Company, in exchange for the issuance of 1,764,710 176,471 150,000 1,764,710 0.10 2,205,887 0.10 2,205,887 0.20 The Company determined that the optional conversion feature attached to the OID Convertible Notes did not meet the definition of derivative liability and that the detachable warrants issued met the definition of a liability and therefore was accounted for as a derivative liability instrument. The warrants were fair valued at $ 5,461,702 As a result of the warrant liability exceeding the value of the debt principal, 2,377,569 During the three and six months ended June 30, 2023, the Company recognized interest and accretion expense of $ 150,086 150,086 Nil Nil The following table summarizes supplemental balance sheet information related to the OID Convertible Notes, net of debt discount outstanding, as of June 30, 2023, and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTES OID Convertible Notes, Net of Debt Discount Balance, December 31, 2022 $ - Issuance of convertible notes 3,781,335 Issuance cost (697,202 ) Debt discounts (3,084,133 ) Debt accretion 150,086 Balance, June 30, 2023 $ 150,086 SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT June 30, 2023 December 31, 2022 OID Convertible Notes - total principal $ 3,781,335 $ - Unamortized issuance costs and discount (3,631,249 ) - OID Convertible Notes, Net of Debt Discount $ 150,086 $ - June 30, 2023 December 31, 2022 Current portion $ 150,086 $ - Non-current portion - - OID Convertible Notes, Net of Debt Discount $ 150,086 $ - 2023 Convertible Notes Terms The OID Convertible Notes will mature in nine months from the date of the OID Units Initial Closing and accrue 10% of interest per annum on the outstanding principal amount. The OID Convertible Notes will be unsecured and subordinated to any senior indebtedness of the Company. The OID Convertible Notes’ principal and accrued interest may generally be converted at any time at a conversion price of $0.10 per share, subject to adjustment, at the option of the holder, into shares of common stock, subject to certain limitations: (i) conversion would not cause the holder to beneficially own more than 4.99% of the Company’s common stock, or more than 9.99% if the holder beneficially owns more than 4.99% of common stock based on ownership of equity securities of the Company other than the OID Convertible Notes or the respective warrants; and (ii) the Company’s articles of incorporation have been amended to increase the number of authorized shares of common stock to a sufficient amount to permit the full conversion of the OID Convertible Notes (the “Capital Event Amendment”) 2023 Warrants Terms The Class E Warrants and Class F Warrants are generally exercisable for a period from the date of the Capital Event Amendment until five years from the date of issue. The exercise right is subject to a similar beneficial ownership limitation that applies to conversion of the OID Convertible Notes above, i.e., exercise is permitted only if it would not cause the holder to beneficially own more than 4.99% of the Company’s common stock, or more than 9.99% if the holder beneficially owns more than 4.99% of common stock based on ownership of equity securities of the Company other than the OID Convertible Notes or the Class E Warrants and Class F Warrants.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 2023
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 300,000,000 0.001 As of June 30, 2023, there were 45,366,760 40,528,191 During the six months ended June 30, 2023, the Company completed the following issuances: ● The Company issued 240,000 ● The Company issued 2,652,159 ● The Company issued 600,000 ● The Company issued 1,346,410 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 5,300,000 1,900,000 7,200,000 2,924,057 2,924,057 During the three and six months ended June 30, 2023, the Company granted Nil 400,000 The summary of option activity for the six months ended June 30, 2023, is as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number Weighted Weighted Total Outstanding at December 31, 2021 3,650,943 $ 1.24 8.34 Granted 400,000 2.20 Expired (62,502 ) 1.25 Forfeited (62,498 ) 1.25 Outstanding at December 31, 2022 3,925,943 $ 1.33 6.06 $ - Granted/forfeited - - - - Outstanding at June 30, 2023 3,925,943 1.33 5.56 - Exercisable at June 30, 2023 3,479,831 $ 1.26 5.17 $ - As of June 30, 2023, 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 $ 1.01 1,985,943 1,985,943 3.00 $ - 1.25 540,000 533,888 7.66 - 1.37 200,000 200,000 7.14 - 1.75 800,000 520,000 8.41 - 2.20 400,000 240,000 8.95 - $ 1.33 3,925,943 3,479,831 5.56 - d) Restricted Share Units During the year ended December 31, 2021, the Company granted restricted share awards for an aggregate of 350,000 Nil Nil 295,750 e) Warrants As of June 30, 2023 and December 31, 2022, there were 478,757,133 20,048,487 SCHEDULE OF WARRANTS OUTSTANDING Number Weighted Average Price Balance, December 31, 2021 12,144,834 $ 2.90 Issued pursuant to Unit Purchase Agreement 8,360,147 2.25 Issued 878,398 1.16 Exercised (300,000 ) 0.01 Expired (113,637 ) 3.00 Cancelled pursuant to FINRA (578,398 ) 1.75 Cancelled as part of debt extinguishment (342,857 ) 2.25 Balance, December 31, 2022 20,048,487 $ 2.64 Warrants modified pursuant to debt extinguishment (Note 7) 355,577,447 0.10 Issued pursuant to debt agreements (Note 7) 94,533,358 0.15 Issued pursuant to Hexin Promissory Note (Note 6) 11,250,000 0.13 Exercised (2,652,159 ) 0.10 Balance, June 30, 2023 478,757,133 $ 0.12 On April 13, 2023, the Company delivered offer letter agreements (the “Somahlution Warrant Offer Letter Agreements”) to the Former Somahlution Owners, which offered to allow the Former Somahlution Owners to exercise the Somahlution Warrants to purchase the number of restricted shares of common stock issuable under the Somahlution Warrants at an exercise price reduced by the Company from $ 5.00 0.10 299,996 2,652,159 265,216 As a result of this warrant exercise, pursuant to the terms applicable to the Convertible Notes and the Class C Warrants (see Note 7), the conversion price of the Convertible Notes adjusted from $ 1.75 0.10 2.25 0.10 5,109,904 114,973,110 In May 2023, the Company issued OID Convertible Notes for aggregate principal of $ 3,781,335 37,813,350 47,266,679 0.10 47,266,679 0.20 5,461,702 Pursuant to the Hexin Promissory Note (see Note 6), on May 22, 2023, the Company issued Hexin a Class E Warrant that may be exercised to purchase 7,500,000 0.10 3,750,000 0.20 1,333,127 f) Stock-based compensation During the three and six months ended June 30, 2023, the Company recorded $ 160,762 371,728 676,242 1,392,674

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS As at June 30, 2023, the Company owed an aggregate of $ 143,351 Nil For the three and six months ended June 30, 2023, the Company incurred and settled $ 72,000 144,000 24,400 86,400 12,621 During the three and six months ended June 30, 2023, the Company also incurred $ 332,750 665,500 43,200 86,400 387,750 631,500 Additionally, as part of the Somahlution acquisition in 2020, the Company recorded a prepaid royalty to the shareholders of Somahlution. The former primary beneficial owner is Dr. Vithal Dhaduk, currently a director, and significant shareholder of the Company. During the three and six months ended June 30, 2023, the Company accrued $ 11,065 47,248 During the six months ended June 30, 2023, the Company and shareholders of Somahlution agreed to reduce the prepaid royalty balance by 50% or by $ 151,000 140,843 339,091

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 – COMMITMENTS AND CONTINGENCIES Legal Matters Under a Confidential Settlement Agreement, dated November 18, 2022, the Company and Nicholas DeVito agreed that Mr. DeVito would dismiss a Complaint that Mr. DeVito filed on June 7, 2022 in the Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida, Case No. 50-2022-CA-005437. The parties also agreed that following an anticipated reverse split, the Company was required to issue Mr. DeVito 16,000 60,000 240,000 Contingencies a. On July 13, 2019, the Company signed a consulting agreement, whereby the individual will receive: ● $ 30,000 ● Option to purchase 250,000 1.50 ● Royalties based on sales of Krillase assets, equal to 10 b. As part of the DuraGraft Acquisition, completed on July 31, 2020, the Company entered into the Agreement with Somahlution stockholders, whereby Marizyme is legally obligated to pay royalties on all net sales for Somahlution, Inc. The royalties associated with the Agreement are calculated as follows: Royalties on U.S. sales equal to: ● 5 ● 4 ● 2 Royalties on sales outside of the U.S.: ● 6 ● 4 ● 2 The royalties are in perpetuity. During the three and six months ended June 30, 2023, the Company had not earned any revenues from Krillase, however the Company did incur sales of the DuraGraft products outside of the U.S., on which $ 11,065 47,248 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 June 30, 2023, minimum lease payments in relation to lease commitments are payable as described in Note 4.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS Third Closing of OID Private Placement On July 10, 2023, the Company conducted the third closing (“OID Units Third Closing”) of the OID Unit Private Placement of up to $10,000,000 100,000,000 In connection with the OID Units Third Closing, on July 10, 2023, Hexin paid a subscription amount of $1,000,000 11,764,710 1,176,471 11,764,710 0.10 14,705,880 0.10 14,705,880 0.20 730,000 The OID Convertible Note issued in the OID Units Third Closing will mature nine months after issuance and accrue 10% of interest per annum on the outstanding principal amount (see Note 7). Special Stockholder Meeting, Change in Capitalization On August 9, 2023 the Company held a special meeting of stockholders where an amendment to the Company’s articles of incorporation to increase the total number of shares of authorized common stock from 300,000,000 2,000,000,000 Reinstatement of Compensation to Univest Securities, LLC and Mr. Richmond On February 14, 2022, the Company filed a registration statement on Form S-1, which was subsequently amended on certain dates (the “Withdrawn Registration Statement”), relating to the Company’s proposed underwritten public offering (the “Offering”). Univest was named as the representative of the underwriters of the Offering. The staff (“FINRA Staff”) of the Corporate Financing Department of the Financial Industry Regulatory Authority, Inc. (“FINRA”) determined that the sales of Units, securities, as well as a grant of a stock option to Mr. Richmond constituted underwriting compensation in connection with the Company’s proposed public offering pursuant to FINRA Rule 5110, based on the FINRA Staff’s interpretation of such rule. Consequently, each of Univest and Mr. Richmond, pursuant to a letter agreement entered into with the Company, dated October 28, 2022, addressed and submitted to the FINRA Staff (the “October 2022 Letter Agreement”), agreed to forego their applicable rights to these securities. Pursuant to the October 2022 Letter Agreement, the parties thereto agreed that the cancellation or disposal of the aforementioned securities shall be without recourse by either Univest or Mr. Richmond. Accordingly, all issued Units and shares were subsequently cancelled, and the Company and Mr. Richmond agreed to the transfer of his stock option to a Company designee who is unaffiliated with Mr. Richmond. On June 22, 2023, Univest and Mr. Richmond requested that the Company either reissue the cancelled securities or issue them new securities with equivalent terms and conditions, in light of the fact that the Company was not proceeding with the Offering. Pursuant to these requests, on July 25, 2023, the Company approved the grant of replacement securities to Univest and Mr. Richmond: (i) Convertible Notes, convertible into shares of common stock at $ 0.10 137,984 206,975 July 25, 2025 1,683,131 2,524,697 0.10 3,548,148 5,322,223 $0.10 4,048,782 6,073,182 300,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2023
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”), and Marizyme Sciences, Inc. (“Marizyme Sciences”). All intercompany transactions have been eliminated on consolidation. The accompanying unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared in conformity with 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 24, 2023 (the “2022 Form 10-K”). The condensed consolidated balance sheet as of December 31, 2022 was derived from audited consolidated financial statements included in the 2022 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 or any future periods. 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	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 condensed consolidated statements of operations. As of June 30, 2023, the Company had deferred offering costs of $ Nil 387,412 ) reported as a prepaid expense on the accompanying condensed consolidated balance sheets, and expensed an aggregate of $ 1,203,537 of deferred offering costs - $ 535,717 of which was related to the extinguishment of 2021 Unit Purchase Agreement (see Note 7) and $ 667,820 related to a planned uplisting, which was not pursued due to a management’s decision to seek different means to obtain financing.
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements in accordance with U.S. GAAP requires management to make use of certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited 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 recoverability of long-term assets including intangible assets and goodwill, amortization expense, valuation of warrants, stock-based compensation, derivative liabilities and contingent liabilities.
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 Somahlution 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. 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 5.96 582,000 1,206,000 2,092,000 2,898,000 221,000 1,427,000 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 20.6 129,000 796,000 293,000 772,000 4,606,000 5,402,000 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 3,000 12,000 7,000 48,000 1,067,000 1,055,000 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 No 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 convertible promissory notes and warrants transactions as described in 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 of June 30, 2023, and December 31, 2022, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS June 30, 2023 Level 1 Level 2 Level 3 Fair Value Hierarchy June 30, 2023 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 5,461,702 Contingent liabilities - - 7,717,000 Total $ - $ - $ 13,178,702 December 31, 2022 Level 1 Level 2 Level 3 Fair Value Hierarchy December 31, 2022 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 4,823,725 Contingent liabilities - - 9,707,000 Total $ - $ - $ 14,530,725 The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: SCHEDULE OF LIABILITIES FAIR VALUE MEASURED Derivative and Contingent Liabilities Balance at December 31, 2022 $ 14,530,725 Change in fair value of contingent liabilities (1,990,000 ) Derivative liabilities extinguished pursuant to Unit Private Placement (Note 7) (4,823,725 ) Derivative liabilities issued pursuant to OID Purchase Agreement (Note 7) 5,461,702 Balance at June 30, 2023 $ 13,178,702
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, 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 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 estimates 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.
New Accounting Standards and Updates from the Securities and Exchange Commission	New Accounting Standards and Updates from the Securities and Exchange Commission In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments - Credit Losses (Topic 326)”. The new standard amends guidance on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. In February 2020, the FASB issued ASU 2020-02, “Financial Instruments-Credit Losses (Topic 326)” and “Leases (Topic 842)” - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842), which amends the effective date of the original pronouncement for smaller reporting companies. ASU 2016-13 and its amendments will be effective for the Company for interim and annual periods in fiscal years beginning after December 15, 2022. Current Expected Credit Losses estimates of expected credit losses on trade receivables over their life will be required to be recorded at inception, based on historical information, current conditions, and reasonable and supportable forecasts. The Company adopted the standard in its first quarter of 2023. There was no material impact on the results of operations.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS	Marizyme measures the following financial instruments at fair value on a recurring basis. As of June 30, 2023, and December 31, 2022, the fair values of these financial instruments were as follows: SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS June 30, 2023 Level 1 Level 2 Level 3 Fair Value Hierarchy June 30, 2023 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 5,461,702 Contingent liabilities - - 7,717,000 Total $ - $ - $ 13,178,702 December 31, 2022 Level 1 Level 2 Level 3 Fair Value Hierarchy December 31, 2022 Level 1 Level 2 Level 3 Liabilities Derivative liabilities $ - $ - $ 4,823,725 Contingent liabilities - - 9,707,000 Total $ - $ - $ 14,530,725
SCHEDULE OF LIABILITIES FAIR VALUE MEASURED	The following table provides a roll forward of all liabilities measured at fair value using Level 3 significant unobservable inputs: SCHEDULE OF LIABILITIES FAIR VALUE MEASURED Derivative and Contingent Liabilities Balance at December 31, 2022 $ 14,530,725 Change in fair value of contingent liabilities (1,990,000 ) Derivative liabilities extinguished pursuant to Unit Private Placement (Note 7) (4,823,725 ) Derivative liabilities issued pursuant to OID Purchase Agreement (Note 7) 5,461,702 Balance at June 30, 2023 $ 13,178,702

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2023
Leases
SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITIES	The following table summarizes supplemental condensed consolidated balance sheet information related to the operating leases as of June 30, 2023, and December 31, 2022: SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITIES June 30, 2023 December 31, 2022 Right-of-use assets $ 1,294,442 $ 1,485,023 Operating lease liabilities, current $ 428,789 $ 423,495 Operating lease liabilities, non-current 865,653 1,061,528 Total operating lease liabilities $ 1,294,442 $ 1,485,023
SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES	As of June 30, 2023, the maturities of the lease liabilities for the periods ending December 31 are as follows: SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES 2023 $ 211,747 2024 434,082 2025 444,934 2026 266,034 Total lease payments 1,356,797 Less: Present value discount (62,355 ) Total $ 1,294,442

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE	SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE June 30, 2023 Gross Accumulated Net Krillase intangible assets $ 4,250,000 $ - $ 4,250,000 Patents in process 122,745 - 122,745 DuraGraft patent 5,256,000 (1,179,230 ) 4,076,770 DuraGraft - Distributor relationship 308,000 (89,833 ) 218,167 DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - 12,606,000 My Health Logic - Trade name 450,000 (49,018 ) 400,982 My Health Logic - Biotechnology 4,600,000 (412,647 ) 4,187,353 My Health Logic - Software 1,550,000 (157,583 ) 1,392,417 Total intangibles $ 29,142,745 $ (1,888,311 ) $ 27,254,434 December 31, 2022 Gross Carrying Accumulated Impairment Net Carrying Krillase intangible assets $ 28,600,000 $ - $ (24,350,000 ) $ 4,250,000 Patents in process 122,745 - - 122,745 DuraGraft patent 5,256,000 (977,076 ) - 4,278,924 DuraGraft - Distributor relationship 308,000 (74,433 ) - 233,567 DuraGraft IPR&D - Cyto Protectant Life Sciences 12,606,000 - - 12,606,000 My Health Logic - Trade name 450,000 (32,947 ) - 417,053 My Health Logic - Biotechnology 4,600,000 (277,353 ) - 4,322,647 My Health Logic - Software 1,550,000 (105,916 ) - 1,444,084 Total intangibles $ 53,492,745 $ (1,467,725 ) $ (24,350,000 ) $ 27,675,020
SCHEDULE OF GOODWILL	SCHEDULE OF GOODWILL Goodwill DuraGraft My Health Logic Total Balance, June 30, 2023 and December 31, 2022 $ 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, 2021 $ 52,866,192 Impairment (24,350,000 ) Amortization expense (841,172 ) Balance, December 31, 2022 27,675,020 Amortization expense (420,586 ) Balance, June 30, 2023 $ 27,254,434

CONVERTIBLE PROMISSORY NOTES _2

CONVERTIBLE PROMISSORY NOTES AND WARRANTS (Tables)	6 Months Ended
	Jun. 30, 2023
Short-Term Debt [Line Items]
SCHEDULE OF CONVERTIBLE NOTES	SCHEDULE OF CONVERTIBLE NOTES Convertible Notes, Net of Debt Discount Balance, December 31, 2021 $ 26,065 Principal of Convertible Notes issued - Original securities 7,315,138 Issuance costs (535,717 ) Debt discount (6,479,421 ) Debt accretion 2,763,749 Debt extinguishment (338,181 ) Balance, December 31, 2022 2,751,633 Debt accretion on Original securities 1,835,741 Debt extinguishment (4,587,374 ) Principal of Convertible Notes issued - New securities 19,058,426 Debt discount (19,058,426 ) Debt accretion on New Securities 5,451,150 Debt accretion associated with Mandatory Default Amount 7,258,256 Conversion of debt (85,486 ) Balance, June 30, 2023 $ 12,623,920 SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT June 30, 2023 December 31, 2022 Convertible notes - total principal $ 18,824,730 $ 14,432,996 Mandatory Default Amount 7,258,256 - Unamortized issuance costs and discount (13,459,066 ) (11,681,363 ) Convertible Notes, Net of Debt Discount $ 12,623,920 $ 2,751,633 June 30, 2023 December 31, 2022 Current portion $ 12,316,495 $ - Non-current portion 307,425 2,751,633 Convertible Notes, Net of Debt Discount $ 12,623,920 $ 2,751,633
SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT	SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT June 30, 2023 December 31, 2022 Convertible notes - total principal $ 18,824,730 $ 14,432,996 Mandatory Default Amount 7,258,256 - Unamortized issuance costs and discount (13,459,066 ) (11,681,363 ) Convertible Notes, Net of Debt Discount $ 12,623,920 $ 2,751,633 June 30, 2023 December 31, 2022 Current portion $ 12,316,495 $ - Non-current portion 307,425 2,751,633 Convertible Notes, Net of Debt Discount $ 12,623,920 $ 2,751,633
O I D Convertible Notes [Member]
Short-Term Debt [Line Items]
SCHEDULE OF CONVERTIBLE NOTES	The following table summarizes supplemental balance sheet information related to the OID Convertible Notes, net of debt discount outstanding, as of June 30, 2023, and December 31, 2022: SCHEDULE OF CONVERTIBLE NOTES OID Convertible Notes, Net of Debt Discount Balance, December 31, 2022 $ - Issuance of convertible notes 3,781,335 Issuance cost (697,202 ) Debt discounts (3,084,133 ) Debt accretion 150,086 Balance, June 30, 2023 $ 150,086
SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT	SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT June 30, 2023 December 31, 2022 OID Convertible Notes - total principal $ 3,781,335 $ - Unamortized issuance costs and discount (3,631,249 ) - OID Convertible Notes, Net of Debt Discount $ 150,086 $ - June 30, 2023 December 31, 2022 Current portion $ 150,086 $ - Non-current portion - - OID Convertible Notes, Net of Debt Discount $ 150,086 $ -

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
SCHEDULE OF STOCK OPTION ACTIVITY	The summary of option activity for the six months ended June 30, 2023, is as follows: SCHEDULE OF STOCK OPTION ACTIVITY Number Weighted Weighted Total Outstanding at December 31, 2021 3,650,943 $ 1.24 8.34 Granted 400,000 2.20 Expired (62,502 ) 1.25 Forfeited (62,498 ) 1.25 Outstanding at December 31, 2022 3,925,943 $ 1.33 6.06 $ - Granted/forfeited - - - - Outstanding at June 30, 2023 3,925,943 1.33 5.56 - Exercisable at June 30, 2023 3,479,831 $ 1.26 5.17 $ -
SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE	As of June 30, 2023, 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 $ 1.01 1,985,943 1,985,943 3.00 $ - 1.25 540,000 533,888 7.66 - 1.37 200,000 200,000 7.14 - 1.75 800,000 520,000 8.41 - 2.20 400,000 240,000 8.95 - $ 1.33 3,925,943 3,479,831 5.56 -
SCHEDULE OF WARRANTS OUTSTANDING	SCHEDULE OF WARRANTS OUTSTANDING Number Weighted Average Price Balance, December 31, 2021 12,144,834 $ 2.90 Issued pursuant to Unit Purchase Agreement 8,360,147 2.25 Issued 878,398 1.16 Exercised (300,000 ) 0.01 Expired (113,637 ) 3.00 Cancelled pursuant to FINRA (578,398 ) 1.75 Cancelled as part of debt extinguishment (342,857 ) 2.25 Balance, December 31, 2022 20,048,487 $ 2.64 Warrants modified pursuant to debt extinguishment (Note 7) 355,577,447 0.10 Issued pursuant to debt agreements (Note 7) 94,533,358 0.15 Issued pursuant to Hexin Promissory Note (Note 6) 11,250,000 0.13 Exercised (2,652,159 ) 0.10 Balance, June 30, 2023 478,757,133 $ 0.12

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 109,120,419	$ 85,989,433
Working capital	19,763,141	966,464
Cash	$ 205,226	$ 510,865

SCHEDULE OF FAIR VALUES OF FINA

SCHEDULE OF FAIR VALUES OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities		$ 4,823,725
Fair Value, Inputs, Level 1 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities
Contingent liabilities
Total
Fair Value, Inputs, Level 2 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities
Contingent liabilities
Total
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto-Asset [Line Items]
Derivative liabilities	5,461,702	4,823,725
Contingent liabilities	7,717,000	9,707,000
Total	$ 13,178,702	$ 14,530,725

SCHEDULE OF LIABILITIES FAIR VA

SCHEDULE OF LIABILITIES FAIR VALUE MEASURED (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Platform Operator, Crypto-Asset [Line Items]
Change in fair value of contingent liabilities	$ 714,000	$ (1,792,000)	$ 1,990,000	$ (3,622,000)
Fair Value, Inputs, Level 3 [Member]
Platform Operator, Crypto-Asset [Line Items]
Beginning Balance			14,530,725
Change in fair value of contingent liabilities			(1,990,000)
Derivative liabilities extinguished pursuant to unit private placement			(4,823,725)
Derivative liabilities issued pursuant to OID Purchase Agreement			5,461,702
Ending Balance	$ 13,178,702		$ 13,178,702

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Deferred offering costs	$ 1,203,537			$ 1,203,537
Extinguishment of Debt, Amount				$ 535,717
Midrange average estimated interest rate				20.60%
Liabilities fair value adjustment	129,000		$ 293,000	$ 796,000	$ 772,000
Royalties payable				4,606,000		$ 5,402,000
Scenario, Adjustment [Member]
Liabilities fair value adjustment	3,000		7,000	$ 12,000	48,000
Pre tax discount rate percentage				20.60%
Market value	1,067,000			$ 1,067,000		1,055,000
Warrants Liabilities [Member]
Risk free rate				1.19%
Expected volatility				69.62%
Expected dividend				$ 0
Expected life				5 years 11 months 15 days
Increase (Decrease) in Operating Liabilities	582,000		2,092,000	$ 1,206,000	2,898,000
Warrants liabilities				$ 221,000		1,427,000
Liquidation Preference [Member]
Risk free rate				0.21%
Expected volatility		78.93%
Expected dividend				$ 0
Expected life				5 years
Liquidation preference value	0		$ 0	$ 0	$ 0
Liquidation preference fair market value	1,823,000			1,823,000		1,823,000
Promissory Note [Member]
Deferred costs	667,820			667,820
Prepaid Expenses and Other Current Assets [Member]
Deferred offering costs						$ 387,412

SCHEDULE OF RIGHT-OF-USE ASSET

SCHEDULE OF RIGHT-OF-USE ASSET AND RELATED LEASE LIABILITIES (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Leases
Right-of-use assets	$ 1,294,442	$ 1,485,023
Operating lease liabilities, current	428,789	423,495
Operating lease liabilities, non-current	865,653	1,061,528
Total operating lease liabilities	$ 1,294,442	$ 1,485,023

SCHEDULE OF MATURITIES OF THE L

SCHEDULE OF MATURITIES OF THE LEASE LIABILITIES (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Leases
2023	$ 211,747
2024	434,082
2025	444,934
2026	266,034
Total lease payments	1,356,797
Less: Present value discount	(62,355)
Total	$ 1,294,442	$ 1,485,023

LEASES (Details Narrative)

LEASES (Details Narrative)			1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Apr. 01, 2022 USD ($) ft²	Dec. 11, 2020 ft²	Dec. 31, 2020 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease agreement, description		five-and-a-half-year lease agreement
Administrative office and laboratories space | ft²	3,053	10,300
Payments for rent				$ 37,674	$ 110,353	$ 192,502	$ 221,253
Operating expense				$ 4,939,110	$ 4,652,542	$ 7,161,692	$ 8,647,883
Lease term				3 years 29 days		3 years 29 days
Operating Lease Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payments for rent			$ 10,800			$ 15,641		$ 15,260
Annually percentage			2.50%			2.50%
Operating expense			$ 12,000						$ 12,000
Increase in operating expense	$ 17,500
Operating lease discount rate				3.95%		3.95%

SCHEDULE OF INTANGIBLE ASSETS A

SCHEDULE OF INTANGIBLE ASSETS AMORTIZATION EXPENSE (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 29,142,745	$ 53,492,745
Accumulated amortization	(1,888,311)	(1,467,725)
Net carrying amount	27,254,434	27,675,020	$ 52,866,192
Impairment		(24,350,000)
Krillase Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	4,250,000	28,600,000
Accumulated amortization
Net carrying amount	4,250,000	4,250,000
Impairment		(24,350,000)
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	122,745	122,745
Accumulated amortization
Net carrying amount	122,745	122,745
Impairment
DuraGraft Patent [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,256,000	5,256,000
Accumulated amortization	(1,179,230)	(977,076)
Net carrying amount	4,076,770	4,278,924
Impairment
DuraGraft Distributor Relationship[Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	308,000	308,000
Accumulated amortization	(89,833)	(74,433)
Net carrying amount	218,167	233,567
Impairment
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
Impairment
My Health Logic - Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	450,000	450,000
Accumulated amortization	(49,018)	(32,947)
Net carrying amount	400,982	417,053
Impairment
My Health Logic - Biotechnology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	4,600,000	4,600,000
Accumulated amortization	(412,647)	(277,353)
Net carrying amount	4,187,353	4,322,647
Impairment
My Health Logic - Software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,550,000	1,550,000
Accumulated amortization	(157,583)	(105,916)
Net carrying amount	$ 1,392,417	1,444,084
Impairment

SCHEDULE OF GOODWILL (Details)

SCHEDULE OF GOODWILL (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Impairment Effects on Earnings Per Share [Line Items]
Goodwill	$ 7,190,656	$ 7,190,656
Duragraft [Member]
Impairment Effects on Earnings Per Share [Line Items]
Goodwill	5,416,000	5,416,000
My Health Logic [Member]
Impairment Effects on Earnings Per Share [Line Items]
Goodwill	$ 1,774,656	$ 1,774,656

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Beginning Balance	$ 27,675,020	$ 52,866,192
Impairment		(24,350,000)
Amortization expense	(420,586)	(841,172)
Ending Balance	$ 27,254,434	$ 27,675,020

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 22, 2021	Dec. 31, 2020	Sep. 12, 2018
Indefinite-Lived Intangible Assets [Line Items]
Impairment of intangible assets					$ 24,350,000
DuraGraft and My Health Logic [Member]
Indefinite-Lived Intangible Assets [Line Items]
Remaining fiscal 2023	$ 420,586		$ 420,586
2024	841,172		841,172
2025	841,172		841,172
2026	841,172		841,172
2027	841,172		841,172
2028	841,172		841,172
2029 and thereafter	6,069,827		6,069,827
Krillase [Member]
Indefinite-Lived Intangible Assets [Line Items]
Impairment of intangible assets			0	$ 0	$ 24,350,000
Duragraft [Member]
Indefinite-Lived Intangible Assets [Line Items]
Intangibles assets							$ 18,170,000
Impairment of intangible assets	0	$ 0	0	0
My Health Logic, Inc. [Member]
Indefinite-Lived Intangible Assets [Line Items]
Intangibles assets						$ 6,600,000
Impairment of intangible assets	$ 0	$ 0	$ 0	$ 0
Krillase Technology [Member]
Indefinite-Lived Intangible Assets [Line Items]
Intangibles assets								$ 28,600,000

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)					3 Months Ended		6 Months Ended
	May 14, 2023	Feb. 02, 2023	Dec. 28, 2022	Oct. 23, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Nov. 30, 2021
Conversion units		14,705,890	9,578,040
Notes Payable, Current					$ 283,290		$ 283,290		$ 1,132,829
Promissory Agreement [Member]
Accrued interest					5,298	$ 4,501
Promissory [Member]
Accrued interest							18,366	$ 10,586
Promissory Note [Member]
Debt instrument interest rate stated percentage			20%
Debt instrument, maturity date			Jun. 28, 2023
Promissory note			$ 750,000
Accrued interest					25,914	$ 0	64,133	$ 0
Promissory [Member]
Debt		$ 1,250,000	$ 814,133
Hub International Limited [Member]
Notes payable				$ 204,050	41,887		41,887		164,729
Debt instrument interest rate stated percentage				6.75%
Debt instrument, maturity date				Sep. 23, 2023
Walleye Opportunities Master Fund Ltd. [Member]
Notes payable		$ 1,000,000
Debt instrument, maturity date		May 07, 2023
Conversion units	11,764,710
Notes payable increased		$ 1,250,000
Walleye Opportunities Master Fund Ltd. [Member] | Minimum [Member]
Notes payable increased		1,000,000
Walleye Opportunities Master Fund Ltd. [Member] | Maximum [Member]
Notes payable increased		$ 1,250,000
MyHealth Logic Acquisition [Member]
Notes payable										$ 468,137
Debt instrument interest rate stated percentage										9%
Debt Instrument, Repurchase Amount									278,678
Notes Payable, Current					$ 241,403		$ 241,403		$ 218,100

SCHEDULE OF CONVERTIBLE NOTES N

SCHEDULE OF CONVERTIBLE NOTES NET OF DEBT DISCOUNT (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Original Securities [Member]
Short-Term Debt [Line Items]
Balance		$ 26,065
Principal of Convertible Notes issued - New securities	$ 19,058,426	7,315,138
Issuance costs		(535,717)
Debt discount	(19,058,426)	(6,479,421)
Debt accretion		2,763,749
Debt accretion new sercurities	5,451,150
Debt accretion associated with Mandatory Default Amount	7,258,256
Debt conversion amount	(85,486)
New Securities [Member]
Short-Term Debt [Line Items]
Balance	2,751,633
Debt extinguishment	(4,587,374)	(338,181)
Debt extinguishment	1,835,741
Balance	12,623,920	2,751,633
Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Convertible notes - total principal	18,824,730	14,432,996
Mandatory Default Amount	7,258,256
Unamortized issuance costs and discount	(13,459,066)	(11,681,363)
OID Convertible Notes, Net of Debt Discount	12,623,920	2,751,633
Current portion	12,316,495
Non-current portion	307,425	2,751,633
O I D Convertible Notes Payable [Member]
Short-Term Debt [Line Items]
Debt accretion	150,086
Unamortized issuance costs and discount	(3,631,249)
OID Convertible Notes, Net of Debt Discount	150,086
Current portion	150,086
Non-current portion
OID Convertible Notes - total principal	$ 3,781,335

SCHEDULE OF CONVERTIBLE NOTES (

SCHEDULE OF CONVERTIBLE NOTES (Details) - O I D Convertible Notes Payable [Member]	6 Months Ended
	Jun. 30, 2023 USD ($)
Short-Term Debt [Line Items]
Balance, December 31, 2020
Convertible notes	3,781,335
Issuance costs	(697,202)
Debt discount	(3,084,133)
Debt discount	150,086
Balance, December 31, 2020	$ 150,086

CONVERTIBLE PROMISSORY NOTES _3

CONVERTIBLE PROMISSORY NOTES AND WARRANTS (Details Narrative)

3 Months Ended

6 Months Ended

12 Months Ended

May 30, 2023 USD ($) $ / shares shares

May 14, 2023 USD ($) shares

May 12, 2023 USD ($) $ / shares shares

Apr. 13, 2023 USD ($) $ / shares shares

Feb. 02, 2023 shares

Dec. 28, 2022 shares

Jun. 30, 2023 USD ($) $ / shares shares

Jun. 30, 2022 USD ($)

Jun. 30, 2023 USD ($) $ / shares shares

Jun. 30, 2022 USD ($)

Dec. 31, 2022 USD ($) shares

Dec. 31, 2021 USD ($) shares

May 17, 2023 shares

Short-Term Debt [Line Items]

Shares issued in aggregate | shares

4,180,071

4,260,594

Proceeds from Issuance of Common Stock

$ 6,500,743

$ 6,692,765

Gain (Loss) on Extinguishment of Debt

$ 684,682

$ 684,682

Gain (Loss) on Extinguishment of Debt

(684,682)

(684,682)

Issuance of warrants on debt discount

19,058,426

19,058,426

Interest and accretion expenses

5,730,714

524,884

7,286,891

816,881

Conversion units | shares

14,705,890

9,578,040

Accrued interest | $ / shares

$ 0.10

Derivative liabilities

5,461,702

5,461,702

Loss on issuance of debt

(2,377,569)

(2,377,569)

Hexin Cancellation Agreement [Member]

Short-Term Debt [Line Items]

Conversion units | shares

9,578,040

Principal amount

$ 957,804

Shares issued | shares

9,578,040

Accrued interest | $ / shares

$ 0.10

Walleye Cancellation Agreement [Member]

Short-Term Debt [Line Items]

Subscription paid

$ 1,250,000

Conversion units | shares

14,705,890

Principal amount

$ 1,470,589

Shares issued | shares

14,705,890

Accrued interest | $ / shares

$ 0.10

Maresca Cancellation Agreement [Member]

Short-Term Debt [Line Items]

Principal amount

$ 176,471

Subscription paid

$ 150,000

Conversion units | shares

1,764,710

Shares issued | shares

1,764,710

Accrued interest | $ / shares

$ 0.10

December 2021 Exchange Agreement [Member]

Short-Term Debt [Line Items]

Interest and acceration expenses

150,086

150,086

Walleye Opportunities Master Fund Ltd. [Member]

Short-Term Debt [Line Items]

Maturity date

May 07, 2023

Subscription paid

$ 1,000,000

Conversion units | shares

11,764,710

Principal amount

$ 1,176,471

Shares issued | shares

11,764,710

Private Placement [Member]

Short-Term Debt [Line Items]

Conertible warrants | $ / shares

$ 0.10

Warrants outstanding

$ 10,000,000

Purchase of warrants | shares

100,000,000

Convertible Notes [Member]

Short-Term Debt [Line Items]

Default on indebtedness

100,000

Principal amount

1,000,000

$ 1,000,000

Maturity date

May 07, 2023

Debt obligated to pay rate

135%

Mandatory default description

The aggregate Mandatory Default Amount that may be due under the Convertible Notes was $27,996,132 on the date of the default, or $7,258,256 more than would otherwise have been due under the Convertible Notes on the date of the default.

Mandatory default amount

$ 27,996,132

$ 27,996,132

Loss on issuance of debt

2,377,569

Convertible Debt [Member]

Short-Term Debt [Line Items]

Debt instrument accrued value an event of default

$ 7,258,256

Hexin Promissory Note [Member]

Short-Term Debt [Line Items]

Subscription paid

$ 814,133

Class C Warrant [Member]

Short-Term Debt [Line Items]

Warrants outstanding

$ 16,538,486

Class E Warrant [Member]

Short-Term Debt [Line Items]

Conertible warrants | $ / shares

$ 0.10

Purchase of warrants | shares

11,972,550

14,705,880

Shares issued price per share | $ / shares

$ 0.10

Class E Warrant [Member] | Walleye Cancellation Agreement [Member]

Short-Term Debt [Line Items]

Purchase of warrants | shares

18,382,362

Shares issued price per share | $ / shares

$ 0.10

Class E Warrant [Member] | Maresca Cancellation Agreement [Member]

Short-Term Debt [Line Items]

Purchase of warrants | shares

2,205,887

Shares issued price per share | $ / shares

$ 0.10

Class F Warrant [Member]

Short-Term Debt [Line Items]

Conertible warrants | $ / shares

$ 0.20

Purchase of warrants | shares

11,972,550

14,705,880

Shares issued price per share | $ / shares

$ 0.20

Class F Warrant [Member] | Walleye Cancellation Agreement [Member]

Short-Term Debt [Line Items]

Purchase of warrants | shares

18,382,362

Shares issued price per share | $ / shares

$ 0.20

Class F Warrant [Member] | Maresca Cancellation Agreement [Member]

Short-Term Debt [Line Items]

Purchase of warrants | shares

2,205,887

Shares issued price per share | $ / shares

$ 0.20

New Class C Warrants [Member]

Short-Term Debt [Line Items]

Percentage of debt instrument of conversion price

0.75

Debt instrument conversion price | $ / shares

$ 2.25

$ 2.25

Warrants exercise price per share | $ / shares

$ 2.25

Warrants exercisable term

5 years

5 years

Percentage of warrant coverage

200%

Class C Warrant [Member]

Short-Term Debt [Line Items]

Conertible warrants | $ / shares

$ 0.10

Warrant [Member]

Short-Term Debt [Line Items]

Purchase of warrants | shares

478,757,133

478,757,133

20,048,487

Warrant [Member] | Convertible Notes [Member]

Short-Term Debt [Line Items]

Derivative liabilities

$ 5,461,702

$ 5,461,702

Convertible Notes Payable [Member]

Short-Term Debt [Line Items]

Frequency of periodic payment

The Convertible Notes mature in 24 months from the initial closing date and accrue 10% of simple interest per annum on the outstanding principal amount

Debt instrument conversion description

The Convertible Notes principal and accrued interest can be converted at any time at the option of the holder at a conversion price of $1.75 per share.

Percentage of debt instrument of conversion price

0.75

Debt instrument conversion price | $ / shares

$ 1.75

$ 1.75

Convertible Notes Payable [Member] | Class C Warrant [Member]

Short-Term Debt [Line Items]

Conertible warrants | $ / shares

$ 2.25

$ 2.25

Convertible Notes Payable [Member] | Minimum [Member]

Short-Term Debt [Line Items]

Equity financing gross amount

$ 10,000,000

$ 10,000,000

Convertible Notes Payable [Member] | Maximum [Member]

Short-Term Debt [Line Items]

Equity financing gross amount

$ 10,000,000

$ 10,000,000

Convertible Debt [Member]

Short-Term Debt [Line Items]

convertible debt

$ 14,432,996

Shares, Outstanding | shares

8,269,237

Shares replacement units | shares

1

Two Thousand Twenty Three Convertible Notes Payable [Member]

Short-Term Debt [Line Items]

Debt instrument conversion description

The OID Convertible Notes will mature in nine months from the date of the OID Units Initial Closing and accrue 10% of interest per annum on the outstanding principal amount. The OID Convertible Notes will be unsecured and subordinated to any senior indebtedness of the Company. The OID Convertible Notes’ principal and accrued interest may generally be converted at any time at a conversion price of $0.10 per share, subject to adjustment, at the option of the holder, into shares of common stock, subject to certain limitations: (i) conversion would not cause the holder to beneficially own more than 4.99% of the Company’s common stock, or more than 9.99% if the holder beneficially owns more than 4.99% of common stock based on ownership of equity securities of the Company other than the OID Convertible Notes or the respective warrants; and (ii) the Company’s articles of incorporation have been amended to increase the number of authorized shares of common stock to a sufficient amount to permit the full conversion of the OID Convertible Notes (the “Capital Event Amendment”)

Note Warrant [Member]

Short-Term Debt [Line Items]

Class of warrant description

The Class E Warrants and Class F Warrants are generally exercisable for a period from the date of the Capital Event Amendment until five years from the date of issue. The exercise right is subject to a similar beneficial ownership limitation that applies to conversion of the OID Convertible Notes above, i.e., exercise is permitted only if it would not cause the holder to beneficially own more than 4.99% of the Company’s common stock, or more than 9.99% if the holder beneficially owns more than 4.99% of common stock based on ownership of equity securities of the Company other than the OID Convertible Notes or the Class E Warrants and Class F Warrants.

SCHEDULE OF STOCK OPTION ACTIVI

SCHEDULE OF STOCK OPTION ACTIVITY (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Number of Options, Outstanding Ending Balance		3,925,943	3,650,943
Weighted Average Exercise Price, Outstanding Ending Balance		$ 1.33	$ 1.24
Weighted average contractual life term, outstanding		5 years 6 months 21 days	6 years 21 days	8 years 4 months 2 days
Number of Options, Granted			400,000
Weighted Average Exercise Price, Granted			$ 2.20
Number of Options, Expired			(62,502)
Weighted Average Exercise Price, Expired			$ 1.25
Number of Options, Forfeited			(62,498)
Weighted Average Exercise Price, Forfeited			$ 1.25
Number of Options, Outstanding Ending Balance	3,925,943	3,925,943	3,925,943	3,650,943
Weighted Average Exercise Price, Outstanding Ending Balance	$ 1.33	$ 1.33	$ 1.33	$ 1.24
Total Intrinsic Value, Ending Balance
Number of options, Exercisable	3,479,831	3,479,831
Weighted Average Exercise Price, Exercisable	$ 1.26	$ 1.26
Weighted average contractual life term, exercisable		5 years 2 months 1 day
Total Intrinsic Value, exercisable

SCHEDULE OF OPTIONS OUTSTANDING

SCHEDULE OF OPTIONS OUTSTANDING AND EXERCISABLE (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Intrinsic Value | $
Exercise Price Range 1.01 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price | $ / shares	$ 1.01
Number of Options Outstanding	1,985,943
Number of Options Exercisable	1,985,943
Weighted Average Remaining Contractual Years	3 years
Intrinsic Value | $
Exercise Price Range 1.25 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price | $ / shares	$ 1.25
Number of Options Outstanding	540,000
Number of Options Exercisable	533,888
Weighted Average Remaining Contractual Years	7 years 7 months 28 days
Intrinsic Value | $
Exercise Price Range 1.37 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price | $ / shares	$ 1.37
Number of Options Outstanding	200,000
Number of Options Exercisable	200,000
Weighted Average Remaining Contractual Years	7 years 1 month 20 days
Intrinsic Value | $
Exercise Price Range 1.75 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price | $ / shares	$ 1.75
Number of Options Outstanding	800,000
Number of Options Exercisable	520,000
Weighted Average Remaining Contractual Years	8 years 4 months 28 days
Intrinsic Value | $
Exercise Price Range 1.20 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price | $ / shares	$ 2.20
Number of Options Outstanding	400,000
Number of Options Exercisable	240,000
Weighted Average Remaining Contractual Years	8 years 11 months 12 days
Intrinsic Value | $
Exercise Price Range 1.33 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price | $ / shares	$ 1.33
Number of Options Outstanding	3,925,943
Number of Options Exercisable	3,479,831
Weighted Average Remaining Contractual Years	5 years 6 months 21 days
Intrinsic Value | $

SCHEDULE OF WARRANTS OUTSTANDIN

SCHEDULE OF WARRANTS OUTSTANDING (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derivative liabilities	$ 355,577,447
Derivative liabilities	$ 0.10
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants outstanding, Ending balance	20,048,487	12,144,834
Warrants outstanding, Ending balance	$ 2.64	$ 2.90
Warrants outstanding, purchase agreement	(11,250,000)	878,398
Weighted average exercise price, issued	0.13	1.16
Warrants outstanding, Exercised	(2,652,159)	(300,000)
Weighted average exercise price, exercised	0.10	0.01
Warrants outstanding, Expired		(113,637)
Weighted average exercise price, expired		$ 3
Warrants outstanding, issued	11,250,000	(878,398)
Warrants outstanding, Ending balance	478,757,133	20,048,487
Warrants outstanding, Ending balance	$ 0.12	$ 2.64
Warrant [Member] | Debt Extinguishment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants outstanding, Expired		(342,857)
Weighted average exercise price, Cancelled as part of debt extinguishment		$ 2.25
Warrant [Member] | Financial Industry Regulatory Authority Inc [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants outstanding, Expired		(578,398)
Weighted average exercise price, Cancelled as part of debt extinguishment		$ 1.75
Warrant [Member] | Unit Purchase Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants outstanding, purchase agreement	94,533,358	8,360,147
Weighted average exercise price, issued	0.15	2.25
Warrants outstanding, issued	(94,533,358)	(8,360,147)

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)				1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	May 31, 2023	May 22, 2023	Apr. 13, 2023	May 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 27, 2022	Nov. 18, 2022	Dec. 26, 2021	May 18, 2021	Jul. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Preferred stock, shares authorized					25,000,000			25,000,000		25,000,000
Preferred stock, par value					$ 0.001			$ 0.001		$ 0.001
Preferred stock, shares issued					0			0		0
Preferred stock, shares outstanding					0			0		0
Common stock, shares authorized					300,000,000			300,000,000		300,000,000
Common stock, par value					$ 0.001			$ 0.001		$ 0.001
Common stock, shares issued					45,366,760			45,366,760		40,528,191
Common stock, shares outstanding					45,366,760			45,366,760		40,528,191
Share-based payment award, options, grants in period, gross										400,000
Compensation cost									$ 295,750
Proceeds from warrant								265,216	3,000
issuance of common stock										$ 6,500,743	$ 6,692,765
Other selling, general and administrative expense		$ 1,333,127
Non-cash share-based compensation					$ 160,762		$ 676,242	371,728	$ 1,392,674
O I D Convertible Notes [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derivative liabilities					$ 5,461,702			$ 5,461,702
Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrants outstanding					478,757,133			478,757,133		20,048,487
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued					1,946,410	240,000
Common Stock [Member] | O I D Convertible Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
warrant exercisable	47,266,679			47,266,679
Common Stock [Member] | Maximum [Member] | O I D Convertible Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued				37,813,350
Common Stock [Member] | Minimum [Member] | O I D Convertible Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued				3,781,335
Common Stock E [Member] | O I D Convertible Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
warrant exercisable, price	$ 0.10
Common Stock E [Member] | Hexin Promissory Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
warrant exercisable, price		$ 0.10
warrant exercisable		7,500,000
Class F Warrants [Member] | O I D Convertible Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Warrant price	47,266,679			47,266,679
Common Stock F [Member] | O I D Convertible Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
warrant exercisable, price	$ 0.20
Common Stock F [Member] | Hexin Promissory Note [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
warrant exercisable, price		$ 0.20
warrant exercisable		3,750,000
Stock Incentive Plan [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share authorized															5,300,000
Number of shares available for issuance					2,924,057			2,924,057		2,924,057		7,200,000		1,900,000
Debt [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares issued					1,346,410			1,346,410
Mr. Frank Maresca [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares issued					600,000			600,000
Directors, Senior Officers and Consultants [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of restricted share awards granted											350,000
Somahlution Acquisition [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares issued																2,652,159
Confidential Settlement Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares issued													240,000
Somahlution Warrant Offer Letter Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares outstanding			2,652,159
warrant exercisable, price			$ 5
warrant exercisable, price			$ 0.10
issuance of common stock			$ 265,216
Somahlution Warrant Offer Letter Agreement [Member] | Convertible Notes Payable [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
warrant exercisable, price			$ 1.75
warrant exercisable, price			$ 0.10
Somahlution Warrant Offer Letter Agreement [Member] | Maximum [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Proceeds from warrant			$ 299,996
Somahlution Warrant Offer Letter Agreement [Member] | Class C Warrant [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock, shares outstanding			5,109,904
issuance of common stock			$ 114,973,110
Somahlution Warrant Offer Letter Agreement [Member] | Class C Warrant [Member] | Convertible Notes Payable [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
warrant exercisable, price			$ 2.25
warrant exercisable, price			$ 0.10

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Debt incurred			$ 12,621
Duragraft [Member]
Related Party Transaction [Line Items]
Prepaid royalties	$ 47,248		47,248		$ 11,065
Related Party [Member]
Related Party Transaction [Line Items]
Related party transactions owned	143,351		143,351
Related party transactions, professional expenses	72,000	$ 24,400	144,000	$ 86,400
Director and Executive Officers [Member]
Related Party Transaction [Line Items]
Debt incurred	332,750		665,500
Debt dettled	387,750	$ 43,200	631,500	$ 86,400
Somahlution [Member]
Related Party Transaction [Line Items]
Prepaid royalties	140,843		140,843			$ 339,091
Decrease in prepaid royalties			151,000
Somahlution [Member] | Duragraft [Member]
Related Party Transaction [Line Items]
Prepaid royalties	$ 47,248		$ 47,248		$ 11,065

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)					3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 04, 2023	Dec. 12, 2022	Nov. 18, 2022	Jul. 13, 2019	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Mar. 31, 2023
Loss Contingencies [Line Items]
Salary and wages					$ 335,004	$ 902,106	$ 601,972	$ 1,817,746
Issuance of stock options									400,000
Royalties percentage				10%
Duragraft [Member]
Loss Contingencies [Line Items]
Prepaid royalties					$ 47,248		$ 47,248			$ 11,065
Sale of asset percentage							15%
Duragraft [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Net proceeds from sale of asset							$ 20,000,000
UNITED STATES | First 50,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage							5%
UNITED STATES | 50,000,001 up to 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage							4%
UNITED STATES | Over 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage							2%
Non-US [Member] | First 50,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage							6%
Non-US [Member] | 50,000,001 up to 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage							4%
Non-US [Member] | Over 200,000,000 [Member]
Loss Contingencies [Line Items]
Royalties percentage							2%
July 13, 2022 [Member]
Loss Contingencies [Line Items]
Salary and wages				$ 30,000
July 13, 2021 [Member]
Loss Contingencies [Line Items]
Issuance of stock options				250,000
Shares issued, price per share				$ 1.50
Confidential Settlement Agreement [Member] | Nicholas DeVito [Member]
Loss Contingencies [Line Items]
Number of shares issued	240,000	60,000	16,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)

Jul. 25, 2023

Jul. 10, 2023

May 30, 2023

May 14, 2023

May 12, 2023

Feb. 02, 2023

Dec. 28, 2022

Aug. 09, 2023

Jul. 15, 2023

Jun. 30, 2023

May 17, 2023

Apr. 13, 2023

Dec. 31, 2022

Subsequent Event [Line Items]

Shares issued upon conversion

14,705,890

9,578,040

Accrued interest

$ 0.10

Common Stock, Shares Authorized

300,000,000

300,000,000

Class E Warrant [Member]

Subsequent Event [Line Items]

Purchase of warrants

11,972,550

14,705,880

Share price

$ 0.10

Warrants, excercise price

0.10

Class F Warrant [Member]

Subsequent Event [Line Items]

Purchase of warrants

11,972,550

14,705,880

Share price

$ 0.20

Warrants, excercise price

$ 0.20

Class C Warrant [Member]

Subsequent Event [Line Items]

Warrants outstanding

$ 16,538,486

Hexin Cancellation Agreement [Member]

Subsequent Event [Line Items]

Shares issued

9,578,040

Principal amount

$ 957,804

Shares issued upon conversion

9,578,040

Accrued interest

$ 0.10

Walleye Opportunities Master Fund Ltd. [Member]

Subsequent Event [Line Items]

Subscription paid

$ 1,000,000

Shares issued

11,764,710

Principal amount

$ 1,176,471

Shares issued upon conversion

11,764,710

Maturity date

May 07, 2023

Subsequent Event [Member]

Subsequent Event [Line Items]

Subscription paid

$ 1,000,000

Shares issued

11,764,710

Principal amount

$ 1,176,471

Share price

$ 0.10

Net proceeds

$ 730,000

Maturity date

Jul. 25, 2025

Subsequent Event [Member] | Placement Agent Warrant [Member]

Subsequent Event [Line Items]

Warrants, excercise price

0.10

Subsequent Event [Member] | Univest [Member]

Subsequent Event [Line Items]

Shares issued upon conversion

1,683,131

Principal amount

$ 137,984

Subsequent Event [Member] | Univest [Member] | Placement Agent Warrant [Member]

Subsequent Event [Line Items]

Excercise of common stock

4,048,782

Subsequent Event [Member] | Mr Richamond [Member]

Subsequent Event [Line Items]

Shares issued upon conversion

2,524,697

Principal amount

$ 206,975

Excercise of common stock

300,000

Subsequent Event [Member] | Mr Richamond [Member] | Placement Agent Warrant [Member]

Subsequent Event [Line Items]

Excercise of common stock

6,073,182

Subsequent Event [Member] | Class E Warrant [Member]

Subsequent Event [Line Items]

Purchase of warrants

14,705,880

Share price

$ 0.10

Subsequent Event [Member] | Class F Warrant [Member]

Subsequent Event [Line Items]

Purchase of warrants

14,705,880

Share price

$ 0.20

Subsequent Event [Member] | Class C Warrant [Member]

Subsequent Event [Line Items]

Warrants, excercise price

$ 0.10

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

Subsequent Event [Line Items]

Excercise of common stock

3,548,148

Subsequent Event [Member] | Common Class C [Member] | Mr Richamond [Member]

Subsequent Event [Line Items]

Excercise of common stock

5,322,223

Subsequent Event [Member] | Hexin Cancellation Agreement [Member]

Subsequent Event [Line Items]

Accrued interest

$ 0.10

Subsequent Event [Member] | Capital Event Amendment [Member] | Minimum [Member]

Subsequent Event [Line Items]

Common Stock, Shares Authorized

300,000,000

Subsequent Event [Member] | Capital Event Amendment [Member] | Maximum [Member]

Subsequent Event [Line Items]

Common Stock, Shares Authorized

2,000,000,000

Subsequent Event [Member] | Walleye Opportunities Master Fund Ltd. [Member]

Subsequent Event [Line Items]

Shares issued upon conversion

11,764,710

Private Placement [Member]

Subsequent Event [Line Items]

Warrants outstanding

$ 10,000,000

Purchase of warrants

100,000,000

Warrants, excercise price

$ 0.10

Private Placement [Member] | Subsequent Event [Member]

Subsequent Event [Line Items]

Warrants outstanding

$ 10,000,000

Purchase of warrants

100,000,000