Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2014 | Jun. 07, 2016 | Jun. 30, 2014 | |
Document and Entity Information: | |||
Entity Registrant Name | THERAPEUTIC SOLUTIONS INTERNATIONAL, INC. | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2014 | ||
Trading Symbol | tsoi | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,419,051 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 681,951,000 | ||
Entity Public Float | $ 1,213,989 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Document Fiscal Year Focus | 2,014 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Current assets: | ||
Cash and cash equivalents | $ 2,894 | $ 12,513 |
Prepaid expenses and other current assets | 139,016 | 68,569 |
Assets from discontinued operations | 46,845 | 48,189 |
Total current assets | 188,756 | 129,270 |
Other non-current assets | 12,461 | 12,441 |
Property and equipment, net | 0 | 69,133 |
Total assets | 201,217 | 210,844 |
Current liabilities: | ||
Accounts payable | 290,554 | 298,521 |
Accrued expenses and other current liabilities | 14,777 | 251,354 |
Due to related parties | 27,174 | 236,324 |
Total current liabilities | 332,505 | 786,199 |
Shareholders' Equity | ||
Preferred stock, $.001 par value; 5,000,000 shares authorized | 0 | 0 |
Common stock, $.001 par value; 699,999,999 shares authorized, 400,000,000 issued and outstanding at December 31, 2014 and 699,999,999 shares authorized, 94,466,400 issued and outstanding at December 31, 2013 | 400,000 | 94,466 |
Capital in excess of par | 2,233,009 | 1,665,725 |
Deficit accumulated | (2,624,296) | (2,335,546) |
Total shareholders' equity | (131,288) | (575,355) |
Total liabilities and shareholders' equity | $ 201,217 | $ 210,844 |
Consolidated Balance Sheets Par
Consolidated Balance Sheets Parentheticals - $ / shares | Dec. 31, 2014 | Dec. 31, 2013 |
Parentheticals | ||
Preferred Stock, par value | $ 0.001 | $ 0.001 |
Preferred Stock, shares authorized | 5,000,000 | 5,000,000 |
Common Stock, par value | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 699,999,999 | 699,999,999 |
Common Stock, shares issued | 400,000,000 | 94,466,400 |
Common Stock, shares outstanding | 400,000,000 | 94,466,400 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Audited) - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Operating expenses: | ||
General and administrative | $ 50,868 | $ 68,932 |
Salaries, wages, and related costs | 111,986 | 520,933 |
Amortization and depreciation | 21,133 | 23,320 |
Consulting fees | 39,734 | 85,515 |
Legal and professional fees | 103,384 | 149,663 |
Total operating expenses | 327,105 | 848,364 |
Loss from operations | (327,105) | (848,364) |
Other income (expense): | ||
Net other income (expense) | 8,728 | 22,766 |
Impairment of intangible asset | (210,000) | 0 |
Interest expense | (9,375) | (10,147) |
Total other income (expense) | (210,647) | 12,618 |
Net income (loss) from continuing operations | (537,752) | (835,746) |
Net income from discontinued operations | 249,002 | 284,088 |
Net income (loss) | $ (288,750) | $ (551,658) |
Basic and diluted loss per common share | ||
Continuing operation | $ 0 | $ (0.01) |
Discontinued operation. | $ 0 | $ 0 |
Weighted average shares outstanding | 196,385,920 | 86,534,071 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Changes in Shareholders' (Deficit) - USD ($) | Common Stock | Common Stock Amount | Additional Paid-in Capital | Earnings (Deficit) Accumulated | Total |
Balance at Dec. 31, 2012 | 305,458,333 | 305,458 | 1,285,533 | (1,783,888) | (192,897) |
Stock returned & cancelled due to MDRA on January 17, 2013 | (223,991,933) | (223,992) | 223,992 | 0 | 0 |
Stock issued for service on May 8, 2013 | 2,000,000 | 2,000 | 28,200 | 0 | 30,200 |
Stock options granted June 29, 2013 | $ 0 | $ 78,000 | $ 0 | $ 78,000 | |
Stock issued for service on July 10, 2013 | 2,000,000 | 2,000 | 10,000 | 0 | 12,000 |
Stock issued for service on July 15, 2013 | 4,000,000 | 4,000 | 20,000 | 0 | 24,000 |
Stock issued for service on December 2, 2013 | 5,000,000 | 5,000 | 20,000 | 0 | 25,000 |
Net Loss, December 31, 2013 | $ 0 | $ 0 | $ (551,658) | $ (551,658) | |
Balance at Dec. 31, 2013 | 94,466,400 | 94,466 | 1,665,725 | (2,335,546) | (575,355) |
Stock issued for service on March 31, 2014 | 12,000,000 | 12,000 | 33,750 | 0 | 45,750 |
Stock issued for note conversion on June 30, 2014 | 90,000,000 | 90,000 | 180,000 | 0 | 270,000 |
Stock issued for note conversion on September 30, 2014 | 103,533,600 | 103,534 | 103,534 | 0 | 207,067 |
Stock issued for a material definitive agreement | 100,000,000 | 100,000 | 110,000 | 0 | 210,000 |
Net Loss, December 31, 2014 | $ 0 | $ 0 | $ (288,750) | $ (288,750) | |
Balance at Dec. 31, 2014 | 400,000,000 | 400,000 | 2,093,009 | (2,624,296) | (131,288) |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Audited) - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities | ||
Net loss | $ (288,750) | $ (551,658) |
Non-cash expenses: | ||
Depreciation | 21,132 | 23,320 |
Stock based compensation to consultants | 45,750 | 95,200 |
Compensation expense - employee stock option plan | 0 | 74,000 |
Imparment of intangible asset | 210,000 | 0 |
Gain from disposal of property and equipment | (7,000) | 0 |
Changes in operating assets and liabilities: | ||
(Increase) decrease in prepaid expenses and other current assets | (70,447) | (54,034) |
(Increase) decrease in other assets | (20) | (31) |
Increase (decrease) in accounts payable | (7,967) | 116,577 |
Increase (decrease) in accrued expenses and other current liabilities | (236,577) | 226,540 |
Increase (decrease) in other related party liabilities | 272,917 | 98,083 |
Cash used by operating activities-continuing operations | (60,962) | 27,997 |
Cash used by operating activities-discontinued operations | 1,343 | (49,883) |
Net cash provided by operating activities | (59,619) | (21,884) |
Cash flows from investing activities | ||
Disposal of fixed assets from discontinued operations | 55,000 | 0 |
Net cash used by by investing activities | 55,000 | 0 |
Cash flows from financing activities | ||
Borrowing and other advances | 0 | 36,002 |
Repayments of due to related parties | (5,000) | (36,616) |
Net cash provided by financing activities | (5,000) | (614) |
Increase in cash | (9,619) | (22,498) |
Cash at beginning of period | 12,513 | 35,011 |
Cash at end of period | 2,894 | 12,513 |
Significant non-cash investing and financing activities: | ||
Stock issuance for acquisition of intangible assets. | 210,000 | 0 |
Stock issuance for due to realted parties | 477,067 | 0 |
Supplemental Cash Flow Information: | ||
Cash paid for interest | 2,812 | 2,956 |
Cash paid for income taxes | $ 800 | $ 800 |
Nature of Business
Nature of Business | 12 Months Ended |
Dec. 31, 2014 | |
Nature of Business: | |
Nature of Business | Note 1 Nature of Business Therapeutic Solutions International, Inc. (the Company) was organized August 6, 2007 under the name Friendly Auto Dealers, Inc., under the laws of the State of Nevada. In the first quarter of 2011 the Company changed its name from Friendly Auto Dealers, Inc. to Therapeutic Solutions International, Inc., and acquired Splint Decisions, Inc., a California corporation organized September 21, 2010 (Splint). Splint is treated as the accounting acquirer in the accompanying financial statements. Until April 28, 2014 the Company sold (directly and through distributors and sublicensees), in non-US countries, plastic intraoral devices known as Anterior Midpoint Stop Appliances (AMPSA Products) . On April 28, 2014, we received a letter from Mr. J. Christopher Jaczko, a lawyer with the Procopio law firm in San Diego who represents Boyd Research, Inc. and related parties. In his letter, Mr. Jaczko notified us that our license to use the international patents for our AMPSA device, pursuant to our license agreement with his clients effective January 1, 2013, was terminated. The ostensible reason Mr. Jaczko gave was our failure to make certain unspecified payments due under the license agreement to his clients. We disputed the termination, but believed that the costs involved with litigating the termination of the New License was not in the best interest of the Company and its shareholders. Therefore, the Company moved in a new direction. Currently the Company is involved in the medical sciences market. We are focused on three different areas within the same market. They are outlined as follows: · Dietary Supplements · Immunotherapy, and · Fetal - Maternal Health |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Significant Accounting Policies: | |
Significant Accounting Policies | Note 2 Significant Accounting Policies Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash For the Statements of Cash Flows, all highly liquid investments with maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of December 31, 2014 and 2013. Other assets include restricted cash of $10,000 that is used to secure a company credit card. Depreciation and Amortization Depreciation is calculated using the straight line method over the estimated useful lives of the assets. Amortization is computed using the straight line method over the term of the agreement. Intangible Assets Intangible assets consisted primarily of intellectual properties such as proprietary nutrasecutal formulations. Intellectual assets are capitalized in accordance with ASC Topic 350 Intangibles Goodwill and Other. Long-lived Assets In accordance with ASC 360, Property, Plant and Equipment, the carrying value of intangible assets and other long-lived assets is reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value. During the year ended December 31, 2014, the Company recognized an impairment charge of $210,000 for intangible assets. Income Taxes The Company accounts for income taxes under ASC 740 "Income Taxes," "Accounting for Income Taxes" Accounting for Uncertainty in Income Taxes an Interpretation of FASB Statement No. 109. Going Concern The Company's 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. The Company has experienced recurring losses over the past years which have resulted in stockholders accumulated deficits of approximately $2,624 thousand at December 31 2014. These conditions raise uncertainty about the Companys ability to continue as a going concern. The Companys ability to continue as a going concern is contingent upon its ability to secure additional financing, increase sales of its products and attain profitable operations. It is the intent of management to continue to raise additional capital. However, there can be no assurance that the Company will be able to secure such additional funds or obtain such on terms satisfactory to the Company, if at all. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. Share Based Expenses ASC 718 "Compensation - Stock Compensation," The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50 "Equity-Based Payments to Non-Employees," "Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services". Recently Implemented Standards The Company has implemented all new accounting pronouncements that are in effect that may impact its financial statements and does not believe that there are any new accounting pronouncements that have been issued that might have a material impact on its financial statements. |
Restricted Cash
Restricted Cash | 12 Months Ended |
Dec. 31, 2014 | |
Restricted Cash: | |
Restricted Cash | Note 3 Restricted Cash Other non-current asset is a $10,000 certificate of deposit with an annual interest rate of 0.6%. This certificate matures on June 17, 2016, and is used as collateral for a Company credit card, pursuant to a security agreement dated June 20, 2011. |
Equipment
Equipment | 12 Months Ended |
Dec. 31, 2014 | |
Equipment | |
Equipment | Note 4 Equipment The cost and accumulated depreciation of fixed assets and equipment at December 31, 2014 and 2013 are summarized below: December 31, 2014 December 31, 2013 Computer Hardware $ 10,747 $ 10,747 Office Furniture and Equipment 3,639 3,639 Shipping and Other Equipment 1,575 1,575 Molding Equipment Interests - 90,000 Total 15,961 105,961 Accumulated Depreciation (15,961) (36,828) Property and Equipment, net $ - $ 69,133 Depreciation is calculated using the straight line method over the estimated useful lives of the assets. Depreciation expenses for the years ended December 31, 2014 and 2013 were $21,133 and $23,320, respectively. |
License Agreements
License Agreements | 12 Months Ended |
Dec. 31, 2014 | |
License Agreements: | |
License Agreements | Note 5 License Agreements The Company had a New License Agreement for the period from August 24, 2012 to December 31, 2012, an exclusive worldwide license with a 30% royalty on net sales (subject to reduction under certain conditions). Also, the New License Agreement granted the Company, for the period from January 1, 2013 forward, a royalty-free nonexclusive worldwide license to make and sell certain products, but excluding the United States market. On April 28, 2014, the Company received a letter from Mr. J. Christopher Jaczko, a lawyer with the Procopio law firm in San Diego who represents Boyd Research, Inc. and related parties. In his letter, Mr. Jaczko notified us that our license to use the international patents for our AMPSA device, pursuant to our license agreement with his clients effective January 1, 2013, was terminated |
Intangible Asset
Intangible Asset | 12 Months Ended |
Dec. 31, 2014 | |
Intangible Asset: | |
Intangible Asset | Note 6 - Intangible Asset On December 9, 2014 the Company contractually obtained the rights, title and interest in and to proprietary formulations for two nutritional supplement products known under the trade names: (a) T-Rx; and, (b) Vital Female; and, (ii) the purchase of all legal right, title and interest, in and to intellectual property including, but not limited to, Innovatives nutritional supplement product known under the trade name: Projuvenol. The Company issued 100,000,000 shares for this rights, title and interest. The fair value of the 100,000,000 shares of common stock of $210,000 has been recorded as intangible assets. On December 31, 2014, the Company performed an impairment test on the intellectual property. The Company recorded impairment of $210,000. |
Equity Transactions
Equity Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Equity Transactions | |
Equity Transactions | Note 7 Equity Transactions Preferred Stock The Company is authorized to issue 5,000,000 shares of $.001 par value preferred stock. The Company has not issued any preferred stock. Common Stock The Company is authorized to issue 699,999,999 shares of $.001 par value common stock. All shares have equal voting rights, are non-assessable, and have one vote per share. Voting rights are not cumulative and, therefore, the holders of more than 50% of the common stock could, if they choose to do so, elect all of the directors of the Company. On July 10, 2013, we issued 2,000,000 shares of common stock, valued at $.006 per shares, for legal services. On July 15, 2013, we issued 4,000,000 shares of common stock, valued at $.006 per share, for consulting services. On November 15, 2013, we issued 5,000,000 shares of common stock, valued at $.005 per share, for consulting services. On March 31, 2014, we issued 2,500,000 shares of common stock, valued at $.0035 per share, for consulting services. On March 31, 2014, we issued 2,500,000 shares of common stock, valued at $.004 per share, for consulting services. On March 31, 2014, we issued 2,000,000 shares of common stock, valued at $.0035 per share, for consulting services. On March 31, 2014, we issued 5.000,000 shares of common stock, valued at $.004 per share, for legal services. On June 19, 2014, we issued 45,000,000 shares of common stock, valued at $.003 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On June 19, 2014, we issued 45,000,000 shares of common stock, valued at $.003 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 26,562,500, shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 21,476,435shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 26,562,500 shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 21,250,000 shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 7,682,165 shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On December 9, 2014, we issued 100,000,000 shares of common stock, valued at $.0021 per share, in regard to a Material Definitive Agreement (Form 8-K filed on December 10, 2014). On April 1, 2015, we issued 10,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On April 11, 2015, we issued 20,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On April 11, 2015, we issued 2,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On April 17, 2015, we issued 20,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On June 1, 2015, we issued 3,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On June 1, 2015, we issued 7,000,000 shares of common stock, valued at $.0025 per share, for legal services On June 8, 2015, we issued 1,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On August 31, 2015, we issued 10,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 9, 2015, we issued 3,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 16, 2015, we issued 2,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 17, 2015, we issued 4,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 17, 2015, we issued 31,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On November 17, 2015, we issued 20,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 30, 2015, we issued 5,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On November 30, 2015, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for legal services. On January 4, 2016, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On January 22, 2016, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On February 1, 2016, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On February 5, 2016, we issued 8,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On February 22, 2016, we issued 5,451,000 shares of common stock, valued at $.003 per share, in regard to a License Agreement (Form 8-K filed on February 25, 2016). On February 26, 2016, we issued 1,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On March 7, 2016, we issued 10,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On March 21, 2016, we issued 100,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On May 2, 2016, we issued 1,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement and 1,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On May 26, 2016, we issued 2,500,000 shares of common stock, valued at $.0066 per share, for consulting services. On May 26, 2016, we issued 2,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On May 31, 2016, we issued 2,500,000 shares of common stock, valued at $.0066 per share, for legal services. Warrants On February 20, 2009, the Company granted certain compensatory warrants. The fair value of each compensatory warrant granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from the Company's traded common stock since February 20, 2009. As of March 31, 2014 all warrants expired and no warrants were exercised. No warrants were granted by the Company in 2013, 2014 or 2015. A summary of these compensatory warrants outstanding at December 31, 2014 and 2013 and changes during the period is presented below: Warrants Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Exercisable at December 31, 2013 250,000 $1.00 .25 $ - Granted 0 Exercised 0 Cancelled/Expired 250,000 Exercisable at December 31, 2014 0 $0 0 $ - |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions: | |
Related Party Transactions | Note 8 Related Party Transactions On June 19, 2014, we issued 45,000,000 shares of common stock, valued at $.003 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On June 19, 2014, we issued 45,000,000 shares of common stock, valued at $.003 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 26,562,500, shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 21,476,435shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 26,562,500 shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 21,250,000 shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. On September 30, 2014, we issued 7,682,165 shares of common stock, valued at $.002 per share, to an officer of the Company for a conversion of notes payable for accrued wages. As of December 31, 2014, the Company has advanced approximately $127,000 to the officers of the company. Additionally the officers of the Company waived their monthly salary accrual from July 1, 2014 to December 31, 2014. The Company accrued officers salary of $20,384 in 2014 ($43,675 in 2013). |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2014 | |
Income Taxes: | |
Income Taxes | Note 9 Income Taxes The Company has net operating losses carried forward of $2,043,048 (2012 $1,620,213) available to offset taxable income in future years which expire beginning in fiscal 2031. The Company is subject to United States federal and state income taxes at an approximate rate of 45%. The reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Companys income tax expense as reported is as follows: December 31, 2014 $ December 31, 2013 $ Net loss before income taxes per financial statements (288,750) (551,658) Income tax rate 45% 45% Income tax recovery (123,619) (248,246) Permanent differences 6,318 155,499 Change in valuation allowance 117,301 92,747 Provision for income taxes The significant components of deferred income tax assets and liabilities at December 31, 2014 and 2013 are as follows: December 31, 2014 $ December 31, 2013 $ Net operating loss carry-forward 846,397 729,096 Valuation allowance (846,397) (729,096) Net deferred income tax asset |
Discontinued Operation
Discontinued Operation | 12 Months Ended |
Dec. 31, 2014 | |
Discontinued Operation: | |
Discontinued Operation | Note 10 Discontinued Operation On April 28, 2014, we received a letter from Mr. J. Christopher Jaczko, a lawyer with the Procopio law firm in San Diego who represents Boyd Research, Inc. and related parties. In his letter, Mr. Jaczko notified us that our license to use the international patents for our AMPSA device, pursuant to our license agreement with his clients effective January 1, 2013, was terminated. The following are the summarized results of discontinued operations for the years ended December 31, 2014 and 2013 and the Balance Sheet as of December 31, 2014 and 2013: For the Year ended December 31, 2014 For the Year ended December 31, 2013 Net revenues from discontinued operations $ 268,892 $ 311,596 Cost of goods sold (26,798) (11,835) Selling expenses (6,525) (11,515) Royalties 13,433 4,158 Other income from discontinued operations $ 249,002 $ 284,088 December 31, 2014 December 31, 2013 Assets Accounts Receivable, net $ 46,845 $ 21,391 Inventories - 26,798 Total assets of discontinued operations $ 46,845 $ 48,189 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events: | |
Subsequent Events | Note 11 Subsequent Events On April 1, 2015, we issued 10,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On April 11, 2015, we issued 20,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On April 11, 2015, we issued 2,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On April 17, 2015, we issued 20,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On June 1, 2015, we issued 3,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On June 1, 2015, we issued 7,000,000 shares of common stock, valued at $.0025 per share, for legal services On June 8, 2015, we issued 1,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On August 31, 2015, we issued 10,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 9, 2015, we issued 3,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 16, 2015, we issued 2,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 17, 2015, we issued 4,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 17, 2015, we issued 31,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On November 17, 2015, we issued 20,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On November 30, 2015, we issued 5,000,000 shares of common stock, valued at $.0025 per share, for consulting services on November 30, 2015, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for legal services. On January 4, 2016, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On January 22, 2016, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On February 1, 2016, we issued 2,500,000 shares of common stock, valued at $.0025 per share, for consulting services. On February 5, 2016, we issued 8,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On February 22, 2016, we issued 5,451,000 shares of common stock, valued at $.003 per share, in regard to a License Agreement (Form 8-K filed on February 25, 2016). On February 26, 2016, we issued 1,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On March 7, 2016, we issued 10,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On March 21, 2016, we issued 100,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On May 2, 2016, we issued 1,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement and 1,000,000 shares of common stock, valued at $.0025 per share, for consulting services. On May 26, 2016, we issued 2,500,000 shares of common stock, valued at $.0066 per share, for consulting services. On May 26, 2016, we issued 2,000,000 shares of common stock, valued at $.0025 per share, for an investment in the Companys Private Placement. On May 31, 2016, we issued 2,500,000 shares of common stock, valued at $.0066 per share, for legal services. The Company previously reported, on April 29, 2013 a former employee of the Company, Reid Jilek, sued the Company, its two directors and its three officers in San Diego County (California) Superior Court for breach of contract, retaliation, constructive discharge, failure to pay wages, failure to reimburse, conversion and fraudulent inducement. The complaint related to his employment agreement with the Company and his resignation which was effective in January 2013. The trial was held in September 2014. On September 26, 2014 the Court ruled in favor of the Company and against all of Jilek's claims, and ruled that the Company was the prevailing party, and therefore was entitled to recover its attorneys fees and costs from Jilek. The Company did not prevail in its cross-claims against Jilek. Jilek's claims against the Companys directors and officers had previously been dismissed. On December 9, 2014 the Company completed sales of its unregistered restricted common shares to Innovative Supplements, Inc., and Robert F. Graham. The Company sold a total of one hundred million (100,000,000) shares of unregistered restricted common stock at par value ($0.001) per share in exchange for (i) an assignment of Seller and Shareholders contractual right, title and interest in and to proprietary formulations for two nutritional supplement products known under the trade names: (a) T-Rx; and, (b) Vital Female; and, (ii) the purchase of all legal right, title and interest, in and to intellectual property including, but not limited to, Innovatives nutritional supplement product known under the trade name: Projuvenol. On July 8, 2015, the United States Patent and Trademark Office (the USPTO) accepted U.S. Application No. 62/190170 titled Augmentation of Oncology Immunotherapies by Pterostilbene Containing Compositions. On July 21, 2015, the United States Patent and Trademark Office (the USPTO) accepted U.S. Application No. 62/194990 titled Prevention of Pregnancy Complications by Probiotic Administration. On September 02, 2015, the United States Patent and Trademark Office (the USPTO) accepted U.S. Application No. 62/213260 titled Preventative Methods and Therapeutic or Pharmaceutical Compositions for the Treatment or Prevention of Pregnancy Complications. On September 15, 2015, the United States Patent and Trademark Office (the USPTO) accepted U.S. Application No. 62/219020 titled Diagnostic Methods For The Assessment Of Pregnancy Complications. On September 25, 2015, the United States Patent and Trademark Office (the USPTO) accepted U.S. Application No. 62/232722 titled A Medical Device For Reducing The Risk Of Preterm-Labor And Preterm-Birth. On October 20, 2015, OmniBiome, Inc, a wholly owned subsidiary of the Company, was incorporated in the State of Delaware. On October 28, 2015, MolecuVax, Inc, a wholly owned subsidiary of the Company, was incorporated in the State of Delaware. On November 18, 2015, Therapeutic Solutions International, Inc. licensed certain intellectual property to OmniBiome, Inc., a wholly owned subsidiary of Therapeutic Solutions International, Inc., as follows: (1) Application No. 62/213260 titled Preventative Methods and Therapeutic or Pharmaceutical Compositions for the Treatment or Prevention of Pregnancy Complications covers utility of vaccines and various agents to alter pathological conditions in which the maternal immune system induces a process of inflammation that culminates in placental alterations leading to either fetal loss or preterm labor; (2) Application No. 62/219020 Diagnostic Methods For The Assessment Of Pregnancy Complications a cytokine-based diagnostic kit aimed at stratifying risk of preterm labor and other pregnancy associated complications; and (3) Application No. 62/232722 A Medical Device For Reducing The Risk Of Preterm-Labor And Preterm-Birth covering various medical devices aimed at immune modulating the cervical microenvironment in order to prevent preterm labor. On May 2, 2016 we retired to the treasury 62,500,000 common shares of our holdings in MolecuVax, Inc. (MVAX). After this retirement, we currently own 37,500,000 common shares of MVAX. On May 3, 2016 MVAX issued 37,500,000 of its common shares in conjunction with a licensing agreement between MVAX and UNIVAX, LLC to UNIVAX, LLC. On November 20, 2015, the United States Patent and Trademark Office (the USPTO) accepted U.S. Application No. 62/258007 titled Exosome Mediated Innate and Adaptive Immune Stimulation for Treatment of Cancer. On December 04, 2015, Therapeutic Solutions International, Inc. licensed certain intellectual property to OmniBiome, Inc., a wholly owned subsidiary of Therapeutic Solutions International, Inc., Application No. 62/194990 titled Prevention of Pregnancy Complications by Probiotic Administration. On January 21, 2016, our Board of Directors elected Thomas E. Ichim, Ph.D, to fill a vacant seat on our Board of Directors. On February 05, 2016, Therapeutic Solutions International, Inc. licensed certain intellectual property to MolecuVax, Inc., a wholly owned subsidiary of Therapeutic Solutions International, Inc., Application No. 62/258,007 titled Exosome Mediated Innate and Adaptive Immune Stimulation for Treatment of Cancer. On April 27, 2016, the United States Patent and Trademark Office (the USPTO) accepted U.S. Application No. 62/327756 titled Augmentation Of Stem Cell Activity Using Pterostilbene And Compositions Containing Pterostilbene. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies: | |
Estimates | Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash, Policy | Cash For the Statements of Cash Flows, all highly liquid investments with maturity of three months or less are considered to be cash equivalents. There were no cash equivalents as of December 31, 2014 and 2013. Other assets include restricted cash of $10,000 that is used to secure a company credit card. |
Depreciation and Amortization, Policy | Depreciation and Amortization Depreciation is calculated using the straight line method over the estimated useful lives of the assets. Amortization is computed using the straight line method over the term of the agreement. |
Intangible Assets, Policy | Intangible Assets Intangible assets consisted primarily of intellectual properties such as proprietary nutrasecutal formulations. Intellectual assets are capitalized in accordance with ASC Topic 350 Intangibles Goodwill and Other. |
Long-lived Assets | Long-lived Assets In accordance with ASC 360, Property, Plant and Equipment, the carrying value of intangible assets and other long-lived assets is reviewed on a regular basis for the existence of facts or circumstances that may suggest impairment. The Company recognizes impairment when the sum of the expected undiscounted future cash flows is less than the carrying amount of the asset. Impairment losses, if any, are measured as the excess of the carrying amount of the asset over its estimated fair value. During the year ended December 31, 2014, the Company recognized an impairment charge of $210,000 for intangible assets. |
Income Taxes, Policy | Income Taxes The Company accounts for income taxes under ASC 740 "Income Taxes," "Accounting for Income Taxes" Accounting for Uncertainty in Income Taxes an Interpretation of FASB Statement No. 109. |
Going Concern | Going Concern The Company's 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. The Company has experienced recurring losses over the past years which have resulted in stockholders accumulated deficits of approximately $2,624 thousand at December 31 2014. These conditions raise uncertainty about the Companys ability to continue as a going concern. The Companys ability to continue as a going concern is contingent upon its ability to secure additional financing, increase sales of its products and attain profitable operations. It is the intent of management to continue to raise additional capital. However, there can be no assurance that the Company will be able to secure such additional funds or obtain such on terms satisfactory to the Company, if at all. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Share Based Expenses | Share Based Expenses ASC 718 "Compensation - Stock Compensation," The Company accounts for stock-based compensation issued to non-employees and consultants in accordance with the provisions of ASC 505-50 "Equity-Based Payments to Non-Employees," "Accounting for Equity Instruments that are Issued to Other Than Employees for Acquiring or in Conjunction with Selling, Goods or Services". |
Recently Implemented Standards | Recently Implemented Standards The Company has implemented all new accounting pronouncements that are in effect that may impact its financial statements and does not believe that there are any new accounting pronouncements that have been issued that might have a material impact on its financial statements. |
Schedule of Cost and accumulate
Schedule of Cost and accumulated depreciation of fixed assets and equipment (Tables) | 12 Months Ended |
Dec. 31, 2014 | |
Schedule of Cost and accumulated depreciation of fixed assets and equipment: | |
Schedule of Cost and accumulated depreciation of fixed assets and equipment | The cost and accumulated depreciation of fixed assets and equipment at December 31, 2014 and 2013 are summarized below: December 31, 2014 December 31, 2013 Computer Hardware $ 10,747 $ 10,747 Office Furniture and Equipment 3,639 3,639 Shipping and Other Equipment 1,575 1,575 Molding Equipment Interests - 90,000 Total 15,961 105,961 Accumulated Depreciation (15,961) (36,828) Property and Equipment, net $ - $ 69,133 |
Schedule of Summary of compensa
Schedule of Summary of compensatory warrants outstanding (Tables) | 12 Months Ended |
Dec. 31, 2014 | |
Schedule of Summary of compensatory warrants outstanding: | |
Schedule of Summary of compensatory warrants outstanding | A summary of these compensatory warrants outstanding at December 31, 2014 and 2013 and changes during the period is presented below: Warrants Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Exercisable at December 31, 2013 250,000 $1.00 .25 $ - Granted 0 Exercised 0 Cancelled/Expired 250,000 Exercisable at December 31, 2014 0 $0 0 $ - |
Schedule of Income Taxes (Table
Schedule of Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2014 | |
Schedule of Income Taxes (Tables): | |
Schedule of Effective Income Tax Rate Reconciliation | The Company is subject to United States federal and state income taxes at an approximate rate of 45%. The reconciliation of the provision for income taxes at the United States federal statutory rate compared to the Companys income tax expense as reported is as follows: December 31, 2014 $ December 31, 2013 $ Net loss before income taxes per financial statements (288,750) (551,658) Income tax rate 45% 45% Income tax recovery (123,619) (248,246) Permanent differences 6,318 155,499 Change in valuation allowance 117,301 92,747 Provision for income taxes |
Schedule of Deferred Tax Assets and Liabilities | The significant components of deferred income tax assets and liabilities at December 31, 2014 and 2013 are as follows: December 31, 2014 $ December 31, 2013 $ Net operating loss carry-forward 846,397 729,096 Valuation allowance (846,397) (729,096) Net deferred income tax asset |
Schedule of Summary of Results
Schedule of Summary of Results of Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2014 | |
Schedule of Summary of Results of Discontinued Operations | |
Schedule of Summary of Results of Discontinued Operations | The following are the summarized results of discontinued operations for the years ended December 31, 2014 and 2013 and the Balance Sheet as of December 31, 2014 and 2013: For the Year ended December 31, 2014 For the Year ended December 31, 2013 Net revenues from discontinued operations $ 268,892 $ 311,596 Cost of goods sold (26,798) (11,835) Selling expenses (6,525) (11,515) Royalties 13,433 4,158 Other income from discontinued operations $ 249,002 $ 284,088 December 31, 2014 December 31, 2013 Assets Accounts Receivable, net $ 46,845 $ 21,391 Inventories - 26,798 Total assets of discontinued operations $ 46,845 $ 48,189 |
Cash (Details)
Cash (Details) | Dec. 31, 2014USD ($) |
Cash Details | |
Other assets include restricted cash | $ 10,000 |
Restricted Cash (Details)
Restricted Cash (Details) | Dec. 31, 2014USD ($) |
Restricted Cash Details | |
Other non-current asset certificate of deposit | $ 10,000 |
Annual interest rate | 0.60% |
Going Concern (Details)
Going Concern (Details) | Dec. 31, 2014USD ($) |
Going Concern Details | |
Accumulated deficit (approx) | $ 2,624,000 |
Working capital deficit (approx) | $ 188,000 |
Equipment (Details)
Equipment (Details) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Equipment Consists Of the Following: | ||
Computer Hardware | $ 10,747 | $ 10,747 |
Office Furniture and Equipment | 3,639 | 3,639 |
Shipping and Other Equipment | 1,575 | 1,575 |
Molding Equipment Interests | 0 | 90,000 |
Total Equipment | 15,961 | 105,961 |
Accumulated Depreciation | (15,961) | (36,828) |
Property and equipment, net | $ 0 | $ 69,133 |
Equipment - Depreciation (Detai
Equipment - Depreciation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Equipment - Depreciation Details | ||
Depreciation expense | $ 21,133 | $ 23,320 |
License (Details)
License (Details) | Dec. 31, 2012 |
License Agreements Consists Of the Following: | |
New License Agreement for an exclusive worldwide license with a royalty on net sales percent | 30.00% |
Intangible Asset (Details)
Intangible Asset (Details) - USD ($) | Dec. 31, 2014 | Dec. 09, 2014 |
Intangible Asset Details | ||
Issued shares for the rights, title and interest | 100,000,000 | |
Fair value of the shares of common stock recorded as intangible assets | $ 210,000 | |
Impairment of intangible assets | $ 210,000 |
Capital Stock Transactions (Det
Capital Stock Transactions (Details) | Dec. 31, 2014$ / sharesshares |
PREFERRED STOCK: | |
Preferred Stock, shares authorized | shares | 5,000,000 |
Preferred Stock, par value | $ / shares | $ 0.001 |
COMMON STOCK: | |
Common Stock shares authorized | shares | 699,999,999 |
Common Stock, par value | $ / shares | $ 0.001 |
Voting rights | 50.00% |
Capital Stock Transactions Duri
Capital Stock Transactions During 2013 (Details) - $ / shares | Nov. 15, 2013 | Jul. 15, 2013 | Jul. 10, 2013 |
Capital Stock Transactions During 2013 Details | |||
Shares of common stock issued for legal services | 2,000,000 | ||
Shares of common stock issued for legal services, per share | $ 0.006 | ||
Shares of common stock issued for consulting services | 5,000,000 | 4,000,000 | |
Shares of common stock issued for consulting services, per share | $ 0.005 | $ 0.006 |
Capital Stock Transactions Du32
Capital Stock Transactions During 2014 (Details) - $ / shares | Dec. 09, 2014 | Sep. 30, 2014 | Jun. 19, 2014 | Mar. 31, 2014 |
Capital Stock Transactions During 2014 Details | ||||
Issued shares of common stock for consulting services | 2,500,000 | |||
Issued shares of common stockfor consulting services per share | $ 0.0035 | |||
Issued shares of common stock for consulting services | 2,500,000 | |||
Issued shares of common stockfor consulting services per share | $ 0.004 | |||
Issued shares of common stock for consulting services | 2,000,000 | |||
Issued shares of common stockfor consulting services per share | $ 0.0035 | |||
Issued shares of common stock for legal services | 5,000,000 | |||
Issued shares of common stock for legal services per share | $ 0.006 | |||
Issued shares of common stock for a conversion of notes payable for accrued wages | 26,562,500 | 45,000,000 | ||
Issued shares of common stock for a conversion of notes payable for accrued wages per share | $ 0.002 | $ 0.003 | ||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages | 21,476,435 | 45,000,000 | ||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages per share | $ 0.002 | $ 0.003 | ||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages | 26,562,500 | |||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages per share | $ 0.002 | |||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages | 21,250,000 | |||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages per share | $ 0.002 | |||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages | 7,682,165 | |||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages per share | $ 0.002 | |||
Issued shares of common stockin regard to a Material Definitive Agreement | 100,000,000 | |||
Issued shares of common stockin regard to a Material Definitive Agreement per share | $ 0.0035 |
Capital Stock Transactions Du33
Capital Stock Transactions During 2015 (Details) - $ / shares | Nov. 30, 2015 | Nov. 17, 2015 | Nov. 16, 2015 | Nov. 09, 2015 | Aug. 31, 2015 | Jun. 08, 2015 | Jun. 01, 2015 | Apr. 17, 2015 | Apr. 11, 2015 | Apr. 01, 2015 |
Capital Stock Transactions During 2015 | ||||||||||
Shares of common stock for consulting services | 5,000,000 | 31,500,000 | 3,000,000 | 2,000,000 | 10,000,000 | |||||
Shares of common stock for consulting services per share | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | |||||
Shares of common stock for Private Placement | 4,000,000 | 2,000,000 | 3,000,000 | 10,000,000 | 1,000,000 | 20,000,000 | 20,000,000 | |||
Shares of common stock for Private Placement per share | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | |||
Shares of common stock for legal services | 2,500,000 | 7,000,000 | ||||||||
Shares of common stock for legal services per share | $ 0.0025 | $ 0.0025 | ||||||||
Shares of common stock issued | 20,000,000 | |||||||||
Shares of common stock, valued at per share | $ 0.0025 |
Capital Stock Transactions Du34
Capital Stock Transactions During 2016 (Details) - $ / shares | May 31, 2016 | May 26, 2016 | May 02, 2016 | Mar. 21, 2016 | Mar. 07, 2016 | Feb. 26, 2016 | Feb. 22, 2016 | Feb. 05, 2016 | Feb. 01, 2016 | Jan. 22, 2016 | Jan. 04, 2016 |
Capital Stock Transactions During 2016 | |||||||||||
Issued shares of common stock for consulting services | 2,500,000 | 1,000,000 | 10,000,000 | 2,500,000 | 2,500,000 | 2,500,000 | |||||
Issued shares of common stockfor consulting services per share | $ 0.0066 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | |||||
Issued shares of common stock for for an investment in Private Placement | 2,000,000 | 1,000,000 | 100,000,000 | 1,000,000 | 8,000,000 | ||||||
Issued shares of common stock for an investment in Private Placement per share | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | ||||||
Issued shares of common stock in regard to a License Agreement | 5,451,000 | ||||||||||
Issued shares of common stock in regard to a License Agreement per share | $ 0.0030 | ||||||||||
Issued shares of common stock for legal services | 2,500,000 | ||||||||||
Issued shares of common stockfor legal services per share | $ 0.0066 |
Summary of warrants outstanding
Summary of warrants outstanding (Details) | Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2013USD ($)$ / sharesshares |
Shares: | ||
Exercisable shares | 0 | 250,000 |
Granted | 0 | 0 |
Exercised | 0 | 0 |
Weighted- Average Exercise Price | $ / shares | $ 0 | $ 1 |
Weighted- Average Remaining Contractual Term | 0 | 0.25 |
Aggregate Intrinsic Value | $ | $ 0 | $ 0 |
Related Party Transactions Agre
Related Party Transactions Agreement (Details) - USD ($) | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 19, 2014 | Dec. 31, 2013 |
Related Party Transactions Agreement: | ||||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages | 26,562,500 | 45,000,000 | ||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages per share | $ 0.002 | $ 0.003 | ||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages | 21,476,435 | 45,000,000 | ||
Issued shares of common stock to an officer for a conversion of notes payable for accrued wages per share | $ 0.002 | $ 0.003 | ||
Shares of common stock to an officer for a conversion of notes payable for accrued wages | 26,562,500 | |||
Shares of common stock to an officer for a conversion of notes payable for accrued wages valued at per share | $ 0.002 | |||
Shares of common stock to an officer for a conversion of notes payable for accrued wages | 21,250,000 | |||
Shares of common stock to an officer for a conversion of notes payable for accrued wages valued at per share | $ 0.002 | |||
Shares of common stock to an officer for a conversion of notes payable for accrued wages | 7,682,165 | |||
Shares of common stock to an officer for a conversion of notes payable for accrued wages valued at per share | $ 0.002 | |||
Advanced to the officers | $ 127,000 | |||
Accrued officers salary | $ 20,384 | $ 43,675 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Income Taxes Narrative Details | ||
Net operating losses carried forward | $ 2,043,048 | $ 1,620,213 |
Income tax expense as reported
Income tax expense as reported is as follows (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Income tax expense as reported is as follows details | ||
Net loss before income taxes per financial statements | $ (288,750) | $ (551,658) |
Income tax rate | 45.00% | 45.00% |
Income tax recovery | $ (123,619) | $ (248,246) |
Permanent differences | 6,318 | 155,499 |
Change in valuation allowance | 117,301 | 92,747 |
Provision for income taxes | $ 0 | $ 0 |
Components of deferred income t
Components of deferred income tax assets and liabilities (Details) - USD ($) | Dec. 31, 2014 | Dec. 31, 2013 |
Components of deferred income tax assets and liabilities: | ||
Net operating loss carry-forward | $ 846,397 | $ 729,096 |
Valuation allowance | (846,397) | (729,096) |
Net deferred income tax asset | $ 0 | $ 0 |
Results of discontinued operati
Results of discontinued operations (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Results of discontinued operations details | ||
Net international revenues | $ 268,892 | $ 311,596 |
Cost of goods sold | (26,798) | (11,835) |
Selling expense | (6,525) | (11,515) |
Royalties | 13,433 | 4,158 |
Other income from discontinued operations | 249,002 | 284,088 |
Assets discontinued operations | ||
Accounts Receivable, net | 46,845 | 21,391 |
Inventories | 0 | 26,798 |
Total assets of discontinued operations | $ 46,845 | $ 48,189 |
Subsequent Events During 2015 (
Subsequent Events During 2015 (Details) - $ / shares | Nov. 30, 2015 | Nov. 17, 2015 | Nov. 16, 2015 | Nov. 09, 2015 | Aug. 31, 2015 | Jun. 08, 2015 | Jun. 01, 2015 | Apr. 17, 2015 | Apr. 11, 2015 | Apr. 01, 2015 |
Subsequent Events During 2015 Details | ||||||||||
Shares of common stock for consulting services | 5,000,000 | 31,500,000 | 3,000,000 | 2,000,000 | 10,000,000 | |||||
Shares of common stock for consulting services per share | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | |||||
Shares of common stock for Private Placement | 4,000,000 | 2,000,000 | 3,000,000 | 10,000,000 | 1,000,000 | 20,000,000 | 20,000,000 | |||
Shares of common stock for Private Placement per share | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | |||
Shares of common stock for legal services | 2,500,000 | 7,000,000 | ||||||||
Shares of common stock for legal services per share | $ 0.0025 | $ 0.0025 | ||||||||
Shares of common stock for Private Placement | 20,000,000 | |||||||||
Shares of common stock for Private Placement per share | $ 0.0025 |
Subsequent Events During 2016 (
Subsequent Events During 2016 (Details) - $ / shares | May 31, 2016 | May 26, 2016 | May 03, 2016 | May 02, 2016 | Mar. 21, 2016 | Mar. 07, 2016 | Feb. 26, 2016 | Feb. 22, 2016 | Feb. 05, 2016 | Feb. 01, 2016 | Jan. 22, 2016 | Jan. 04, 2016 |
Subsequent Events During 2016 | ||||||||||||
Issued shares of common stock for consulting services | 2,500,000 | 1,000,000 | 100,000,000 | 10,000,000 | 2,500,000 | 2,500,000 | 2,500,000 | |||||
Issued shares of common stockfor consulting services per share | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | |||||
Issued shares of common stock for for an investment in Private Placement | 2,000,000 | 1,000,000 | 1,000,000 | 8,000,000 | ||||||||
Issued shares of common stock for an investment in Private Placement per share | $ 0.0025 | $ 0.0025 | $ 0.0025 | $ 0.0025 | ||||||||
Issued shares of common stock in regard to a License Agreement | 5,451,000 | |||||||||||
Issued shares of common stock in regard to a License Agreement per share | $ 0.0030 | |||||||||||
Common shares of holdings in MolecuVax, Inc. retired to treasury | 62,500,000 | |||||||||||
Common shares currently owned in MolecuVax, Inc. | 37,500,000 | |||||||||||
Common shares issued in conjunction with a licensing agreement between MVAX and UNIVAX, LLC. | 37,500,000 | |||||||||||
Issued shares of common stock for legal services | 2,000,000 | |||||||||||
Issued shares of common stockfor legal services per share | $ 0.0066 |