Vicapsys Life Sciences (VICP) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 13, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	000-56145
Entity Registrant Name	VICAPSYS LIFE SCIENCES, INC.
Entity Central Index Key	0001468639
Entity Tax Identification Number	91-1930691
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	7778 Mcginnis Ferry Rd. #270
Entity Address, City or Town	Suwanee
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30024
City Area Code	(972)
Local Phone Number	891-8033
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,815,741

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash	$ 101,319	$ 217,295
Prepaid Expenses	13,178	5,498
Total Current Assets	114,497	222,793
Intangible asset, net of accumulated amortization of $128,816 and $120,994, respectively	363,698	371,520
Total Assets	478,195	594,313
Current Liabilities:
Accounts payable	514,000	487,792
Accounts payable, related parties	136,500	112,860
Accrued salaries, related party	115,312	115,312
Total Current Liabilities	765,812	715,964
Stockholders’ Deficit:
Common Stock, par value $0.001; 300,000,000 shares authorized; 31,188,460 and 19,747,283 shares issued and outstanding, respectively	31,188	19,747
Common stock to be issued, par value $0.001; 627,281 and 11,067,287 shares outstanding, respectively	627	12,068
Additional paid-in capital	13,977,240	13,976,159
Accumulated deficit	(14,296,672)	(14,129,625)
Total Stockholders’ Deficit	(287,617)	(121,651)
Total Liabilities and Stockholders’ Deficit	$ 478,195	$ 594,313

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Intangible asset, net of accumulated amortization	$ 128,816	$ 120,994
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common stock, shares issued	31,188,460	19,747,283
Common stock, shares outstanding	31,188,460	19,747,283
Common stock to be issued, par value	$ 0.001	$ 0.001
Common stock to be issued, shares outstanding	627,281	11,067,287

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues
Operating Expenses:
Personnel costs	30,369	22,808
Research and development expenses, related party	10,000	2,307
Professional fees	113,885	16,082
General and administrative expenses	12,793	8,573
Total operating expenses	167,047	49,770
Loss from operations	(167,047)	(49,770)
Other income:
Other income		100,000
Total other income		100,000
Income (loss) before income taxes	(167,047)	50,230
Income taxes
Net income (loss) available to common shareholders	$ (167,047)	$ 50,230
Net income (loss) per common share:
Basic	$ (0.01)	$ 0
Diluted	$ (0.01)	$ 0
Weighted average common shares outstanding:
Basic	28,712,656	17,496,083
Diluted	28,712,656	32,320,113

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($)	Series A Preferred Stock [Member]Preferred Stock [Member]	Series B Preferred Stock [Member]Preferred Stock [Member]	Common Stock [Member]	Common Stock to be Issued [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2020	$ 3,000	$ 4,440	$ 17,483	$ 1,652	$ 13,417,073	$ (13,892,754)	$ (449,106)
Beginning balance, shares at Dec. 31, 2020	3,000,000	4,440,000	17,483,283	1,651,458
Conversion of Series A Preferred Stock to common stock to be issued	$ (3,000)			$ 6,000	(3,000)
Conversion of Series A Preferred Stock to common stock to be issued, shares	(3,000,000)			6,000,000
Conversion of Series B Preferred Stock to common stock to be issued		$ (4,440)		$ 4,440
Conversion of Series B Preferred Stock to common stock to be issued, shares		(4,440,000)		4,440,000
Common stock issued from common stock to be issued			$ 24	$ (24)
Common stock issued from common stock to be issued, shares			24,000	(24,000)
Stock-based compensation expense					1,082		1,082
Net income						50,230	50,230
Ending balance, value at Mar. 31, 2021			$ 17,507	$ 12,068	13,415,155	(13,842,524)	(397,794)
Ending balance, shares at Mar. 31, 2021			17,507,283	12,067,458
Beginning balance, value at Dec. 31, 2021			$ 19,747	$ 12,068	13,976,159	(14,129,625)	(121,651)
Beginning balance, shares at Dec. 31, 2021			19,747,283	12,067,458
Common stock issued from common stock to be issued			$ 11,441	$ (11,441)
Common stock issued from common stock to be issued, shares			11,441,177	(11,440,177)
Stock-based compensation expense					1,081		1,081
Net income						(167,047)	(167,047)
Ending balance, value at Mar. 31, 2022			$ 31,188	$ 627	$ 13,977,240	$ (14,296,672)	$ (287,617)
Ending balance, shares at Mar. 31, 2022			31,188,460	627,281

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net income (loss)	$ (167,047)	$ 50,230
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization	7,822	7,822
Stock-based compensation	1,081	1,082
Gain on sale of equity method investment		(100,000)
Changes in operating assets and liabilities:
Prepaid Expenses	(7,680)	(2,915)
Accounts payable	26,208	(29,332)
Accounts payable, related parties	23,640	2,307
Net Cash Used in Operating Activities	(115,976)	(70,806)
Cash Flows from Investing Activities:
Proceeds from sale of equity method investment		100,000
Net Cash Used in Investing Activities		100,000
Net increase (decrease) in Cash	(115,976)	29,194
Cash, Beginning of period	217,295	1,269
Cash, End of period	101,319	30,463
Supplementary Cash Flow Information
Cash paid for interest
Cash paid for income taxes

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	NOTE 1 - ORGANIZATION Business Vicapsys Life Sciences, Inc. (“VLS”) was incorporated in the State of Florida on July 8, 1997 under the name All Product Distribution Corp. On August 19, 1998, the Company changed its name to Phage Therapeutics International, Inc. On November 13, 2007, the Company changed its name to SSGI, Inc. On September 13, 2017, the Company changed its name to Vicapsys Life Sciences, Inc., effected a 1-for-100 reverse stock split of its outstanding common stock, increased the Company’s authorized capital stock to 300,000,000 0.001 20,000,000 0.001 The Company’s strategy is to develop and commercialize, on a worldwide basis, various intellectual property rights (patents, patent applications, know how, etc.) relating to a series of encapsulated products that incorporate proprietary derivatives of the chemokine CXCL12 for creating a zone of immunoprotection around cells, tissues, organs and devices for therapeutic purposes. The product name VICAPSYN™ is the Company’s proprietary product line that is applied to transplantation therapies and related stem-cell applications in the transplantation field.

GOING CONCERN AND MANAGEMENT_S

GOING CONCERN AND MANAGEMENT’S PLANS	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN AND MANAGEMENT’S PLANS	NOTE 2 – GOING CONCERN AND MANAGEMENT’S PLANS The accompanying unaudited condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which assumes the realization of assets and satisfaction of liabilities and commitments in the normal course of business. The Company experienced a net loss of $ 167,047 651,315 14,296,672 In March 2020, the World Health Organization declared the novel COVID-19 virus as a global pandemic. The COVID-19 outbreak in the United States negatively impacted to the Company’s ability to secure additional debt or equity funding to support operations in 2020 and 2021. In 2021, the Company raised an aggregate of $ 560,000 2,240,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES	NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements in this report have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s consolidated annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with a reading of the Company’s consolidated audited financial statements and notes thereto for the year ended December 31, 2021, filed with the Company’s annual report on Form 10-K with the Securities and Exchange Commission (the “SEC”) on March 16, 2022. Interim results of operations for the three months ended March 31, 2022, and 2021, are not necessarily indicative of future results for the full year. The unaudited condensed consolidated financial statements of the Company include the consolidated accounts of VLS and its’ wholly owned subsidiary VI. All intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates included in the financial statements, include useful the life of intangible assets, valuation allowance for deferred tax assets and non-cash equity transactions and stock-based compensation. Cash The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. The Company held no Intangible Assets Costs of intangible assets are accounted for through the capitalization of those costs incurred in connection with developing or obtaining such assets. Capitalized costs are included in intangible assets in the unaudited condensed consolidated balance sheets. The Company’s intangible assets consist of costs incurred in connection with securing an Exclusive Patent License Agreement with The General Hospital Corporation, d/b/a Massachusetts General Hospital (“MGH”), as amended (the “License Agreement”). These costs are being amortized over the term of the License Agreement which is based on the remaining patent life of the related patents being licensed. The Company reviews these intangible assets for possible impairment when events or changes in circumstances indicate that the assets carrying amount may not be recoverable. In evaluating the future benefit of its intangible assets, management performs an analysis of the anticipated undiscounted future net cash flows of the intangible assets over the remaining estimated useful life. An impairment loss is recorded if the carrying value of the asset exceeds the expected future cash flows. Long-Lived Assets The Company reviews long-lived assets at least annually or when events or changes in circumstances reflect the fact that the recorded value may not be recoverable for impairment and recognizes impairment losses on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying values. Equity Method Investment The Company accounts for investments in which the Company owns more than 20 % or has the ability to exercise significant influence of the investee, using the equity method in accordance with the Financial Accounting Standard Board’s (the “FASB”) Accounting Standards Codification (“ASC”) Topic 323, Investments—Equity Method and Joint Ventures The amount of the adjustment is included in the determination of net income by the investor, and such amount reflects adjustments similar to those made in preparing consolidated statements including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between investor cost and underlying equity in net assets of the investee at the date of investment. The investment of an investor is also adjusted to reflect the investor’s share of changes in the investee’s capital. Dividends received from an investee reduce the carrying amount of the investment. A series of operating losses of an investee or other factors may indicate that a decrease in value of the investment has occurred which is other than temporary, and which should be recognized even though the decrease in value is in excess of what would otherwise be recognized by application of the equity method. In accordance with ASC 323-10-35-20 through 35-22, the investor ordinarily shall discontinue applying the equity method if the investment (and net advances) is reduced to zero and shall not provide for additional losses unless the investor has guaranteed obligations of the investee or is otherwise committed to provide further financial support for the investee. An investor shall, however, provide for additional losses if the imminent return to profitable operations by an investee appears to be assured. For example, a material, nonrecurring loss of an isolated nature may reduce an investment below zero even though the underlying profitable operating pattern of an investee is unimpaired. If the investee subsequently reports net income, the investor shall resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended. Equity and cost method investments are classified as investments. The Company periodically evaluates its equity and cost method investments for impairment due to declines considered to be other than temporary. If the Company determines that a decline in fair value is other than temporary, then a charge to earnings is recorded as an impairment loss in the accompanying consolidated statements of operations. The Company’s equity method investment consisted of equity owned in Athens Encapsulation Inc. (“AEI”), a Company controlled by former directors of the Company which was given to the Company as part of an investment and restructuring agreement entered into in May 2019. In January 2021, the Company sold its’ equity investment in AEI, back to AEI for $ 100,000 , which is included in gain on sale of equity method investment for the three months ended March 31, 2021. As of March 31, 2022, the Company did not have any remaining equity investment in AEI. During the three months ended March 31, 2021, the Company’s proportionate share of net income was insignificant. Fair Value of Financial Instruments ASC 825, “Disclosures about Fair Value of Financial Instruments,” requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2022. The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, accounts payable and accrued liabilities, payables with related parties, approximate their fair values because of the short maturity of these instruments. Revenue Recognition Revenue recognition is accounted for under ASC Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) and all the related amendments. The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under U.S. GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company’s contracts with customers are generally on a contract and work order basis and represent obligations that are satisfied at a point in time, as defined in the new guidance, generally upon delivery or has services are provided. Accordingly, revenue for each sale is recognized when the Company has completed its performance obligations. Any costs incurred before this point in time, are recorded as assets to be expensed during the period the related revenue is recognized. The Company did not generate any revenue for the three months ended March 30, 2022, and 2021. Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation, Improvements to Employee Share-Based Payment Research and Development Costs and expenses that can be clearly identified as research and development are charged to expense as incurred. For the three months ended March 31, 2022, and 2021, the Company incurred $ 10,000 2,307 Income Taxes The Company accounts for income taxes in accordance with ASC 740-10, Income Taxes. Deferred tax assets and liabilities are recognized to reflect the estimated future tax effects, calculated at the tax rate expected to be in effect at the time of realization. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. Deferred tax assets and liabilities are adjusted for the effects of the changes in tax laws and rates of the date of enactment. ASC 740-10 prescribes a recognition threshold that a tax position is required to meet before being recognized in the financial statements and provides guidance on recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure, and transition issues. Interest and penalties are classified as a component of interest and other expenses. To date, the Company has not been assessed, nor paid, any interest or penalties. Uncertain tax positions are measured and recorded by establishing a threshold for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Only tax positions meeting the more-likely-than-not recognition threshold at the effective date may be recognized or continue to be recognized. Earnings (Loss) Per Share The Company reports earnings (loss) per share in accordance with ASC 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net loss by the weighted-average number of shares of common stock, common stock equivalents and other potentially dilutive securities outstanding during the period using the treasury stock method and as-if converted method. For the period ended March 31, 2022, and 2021, the Company’s dilutive securities are convertible into 6,587,281 and 18,114,183 shares of common stock, respectively. The amount for the three months ended March 31, 2022, are not included in the computation of dilutive loss per share because their impact is antidilutive. For the three months ended March 31, 2021, the dilutive securities are included in diluted net income per share. The following table presents a reconciliation of basic and diluted net income (loss) per share for the three months ended March 31, 2022, and 2021: SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET INCOME (LOSS) PER SHARE 2022 2021 For the three months ended March 31, 2022 2021 Net income (loss) per common share - basic: Net income (loss) available to common shareholders $ (167,047 ) $ 50,230 Weight average common shares outstanding - basic 28,712,656 17,496,083 Net income (loss) per common share - basic $ (0.01 ) $ 0.00 Net income (loss) per common share - diluted: Net income (loss) available to common shareholders $ (167,047 ) $ 50,230 Add: stock- based compensation -- 2,163 Numerator for income (loss) per common share - diluted $ (167,047 ) $ 52,393 Weight average common shares outstanding - diluted Basic 28,712,656 17,496,083 Weight average common shares outstanding - Basic 28,712,656 17,496,083 Stock Options -- 2,681,549 Warrants -- 1,064,000 Common stock to be issued -- 12,067,458 Denominator weighted average common shares outstanding - diluted 28,712,656 33,309,090 Net income (loss) per common share - diluted $ (0.01 ) $ 0.00 The following table represents the classes of dilutive securities as of March 31, 2022, and 2021: SCHEDULE OF ANTIDILUTIVE SECURITIES OF EARNINGS PER SHARE March 31, 2022 March 31, 2021 Common stock to be issued 627,281 12,067,458 Stock options 1,900,000 1,900,000 Warrants to purchase common stock 4,060,000 4,146,725 Antidilutive securities 6,587,281 18,114,183 Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed consolidated financial statements for the three months ended March 31, 2022, and 2021.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 4 – INTANGIBLE ASSETS The Company’s intangible assets consist of costs incurred in connection with the License Agreement with MGH (See Note 5). The consideration paid for the rights included in the License Agreement was in the form of common stock shares which resulted in MGH receiving approximately 20 16 The Company’s intangible assets consisted of the following at March 31, 2022, and December 31, 2021: SCHEDULE OF INTANGIBLE ASSETS March 31, 2022 December 31, 2021 Licensed patents $ 492,514 $ 492,514 Accumulated amortization (128,816 ) (120,994 ) Balance $ 363,698 $ 371,520 The Company recognized $ 7,822 Future expected amortization of intangible assets is as follows: SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS Fiscal year ending December 31, 2022 (months remaining) $ 23,477 2023 31,299 2024 31,299 2025 31,299 2026 31,299 Thereafter 215,025 Total $ 363,698

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 5 – RELATED PARTY TRANSACTIONS Consulting Agreements On November 5, 2021, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Mark Poznansky, MD, (the “Consultant”) a minority stockholder and former Director. The Company engaged the Consultant to render consulting services with respect to informing, guiding, and supervising the development of antagonists to immune repellents or anti-fugetaxins for the treatment of cancer. The initial term of the Consulting Agreement is for six months (the “Initial Term”) and the Company agreed to pay the Consultant $ 2,000 6,000 0 19,000 13,000 On January 1, 2022, the Company entered into a consulting agreement (the “Consulting Agreement”) with Frances Toneguzzo, Ph.D., the Company’s former CEO. Pursuant to the one-year term of the Consulting Agreement in exchange for services in leading the research and development teams and laboratory work, the consultant will receive $ 5,000 15,000 0 5,000 0 MGH License Agreement On May 8, 2013, VI and MGH, a principal stockholder (see Note 6), entered into the License Agreement, pursuant to which MGH granted to the Company, in the field of coating and transplanting cells, tissues and devices for therapeutic purposes, on a worldwide basis: (i) an exclusive, royalty-bearing license under its rights in Patent Rights (as defined in the License Agreement) to make, use, sell, lease, import and transfer Products and Processes (each as defined in the License Agreement); (ii) a non-exclusive, sub-licensable (solely in the License Field and License Territory (each as defined in the License Agreement)) royalty-bearing license to Materials (as defined in the License Agreement) and to make, have made, use, have used, Materials for only the purpose of creating Products, the transfer of Products and to use, have used and transfer processes; (iii) the right to grant sublicenses subject to and in accordance with the terms of the License Agreement, and (iv) the nonexclusive right to use technological information (as defined in the License Agreement) disclosed by MGH to the Company under the License Agreement, all subject to and in accordance with the License Agreement (the “License”). As amended by the Eighth Amendment to the License Agreement on March 14, 2022 (“Effective Date”), which replaces the prior pre-sales due diligence requirements in their entirety, the License Agreement requires that the Company satisfy the following requirements prior to the first sale of Products (“MGH License Milestones”), by certain dates. Pre-Sales Diligence Requirement: (x) The Company shall provide a detailed business plan and development plan by June 1 st (xi) The Company shall raise $ 2 st (xii) The Company shall raise an additional $ 8 st (xiii) The Company shall initiate research regarding the role of CXCL12 in beta cell function and differentiation by January 1 st (xiv) The Company shall initiate diabetic non-human primate studies using cadaveric islets encapsulated in the CXCL12 technology by March 1 st (xv) The Company shall initiate research regarding other applications of the CXCL12 platform by June 1 st (xvi) The Company shall initiate a Phase I clinical trial of a Product or Process by March 1 st (xvii) The Company shall initiate a Phase II clinical trial of a Product or Process within thirteen (13) years from Effective Date. (xviii) The Company shall initiate Phase III clinical trial of a Product or Process within sixteen (16) years from Effective Date. Additionally, as amended by the Eighth Amendment to the License Agreement on March 14, 2022, which replaces the prior post-sales due diligence requirements in their entirety, the License Agreement requires that the Company satisfy the following requirements post-sales of Products (“MGH License Milestones”), by certain dates. Post-Sales Diligence Requirements: (i) The Company shall itself or through an Affiliate or Sublicensee make a First Commercial Sale within the following countries and regions in the License Territory within eighteen (18) years after the Effective Date of this Agreement: US and Europe and China or Japan. (ii) Following the First Commercial Sale in any country in the License Territory, Company shall itself or through its Affiliates and/or Sublicensees use commercially reasonable efforts to continue to make Sales in such country without any elapsed time period of one (1) year or more in which such Sales do not occur due to lack such efforts by Company. In consideration of the update to the diligence milestones, the Company shall pay the following Annual Minimum Royalty payments: (i) Prior to the First Commercial Sale, the Company shall pay to Hospital a non-refundable annual license fee of ten thousand dollars ($ 10,000 (ii) Following the First Commercial Sale, Company shall pay Hospital a non-refundable annual minimum royalty in the amount of one hundred thousand dollars United States Dollars ($ 100,000 The License Agreement also requires VI to pay to MGH a 1 The License Agreement additionally requires VI to pay to MGH a $1.0 million “success payment” within 60 days after the first achievement of total net sales of Product or Process equal to or to exceed $100,000,000 in any calendar year and $4,000,000 within 60 days after the first achievement of total net sales of Product or Process equal or exceed $250,000,000 in any calendar year. The Company is also required to reimburse MGH’s expenses in connection with the preparation, filing, prosecution and maintenance of all Patent Rights. The License Agreement expires on the later of (i) the date on which all issued patents and filed patent applications within the Patent Rights have expired (November 2033) or have been abandoned, and (ii) one year after the last sale for which a royalty is due under the License Agreement. The License Agreement also grants MGH the right to terminate the License Agreement if VI fails to make any payment due under the License Agreement or defaults in the performance of any of its other obligations under the License Agreement, subject to certain notice and rights to cure set forth therein. MGH may also terminate the License Agreement immediately upon written notice to VI if VI: (i) shall make an assignment for the benefit of creditors; or (ii) or shall have a petition in bankruptcy filed for or against it that is not dismissed within 60 days of filing. As of the date of this filing, this License Agreement remains active and the Company has not received any termination notice from MGH. VI may terminate the License Agreement prior to its expiration by giving 90 days’ advance written notice to MGH, and upon such termination shall, subject to the terms of the License Agreement, immediately cease all use and sales of Products and Processes. The Company incurred costs to MGH of $- 0 2,307 0 3,860 During the three months ended March 31, 2022, and 2021, there have not been any sales of Product or Process under this License Agreement. Accounts Payable, related parties and Accrued Salaries, related party The Company incurred director fees of $ 30,000 22,500 70,000 60,000 The Company incurred consulting fees of $ 22,500 45,000 47,500 40,000 In August 2020, Frances Tonneguzzo, the Company’s Chief Executive Officer (the “former CEO”) tendered her resignation as CEO. For the three months ended March 31, 2022, and 2021, the Company did not incur any expenses to the former CEO. As of March 31, 2022, and December 31, 2021, $ 115,312 Sale of Equity Method Investment In January 2021, the Company sold its’ equity investment in AEI back to AEI for $ 100,000

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 6– COMMITMENTS AND CONTINGENCIES Legal Matters The Company is not aware of any material, existing or pending legal proceedings against our Company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest. MGH License Agreement As discussed in Note 5, the Company executed a License Agreement with MGH. Prior to the first commercial sale, the License Agreement requires the Company to pay MGH a non-refundable annual license fee of $10,000 by June 30, 2022, and on each subsequent anniversary of the Effective Date thereafter. Additionally, following the first commercial sale, the License agreement requires the Company to pay MGH a non-refundable annual minimum royalty in the amount of $100,000 per year within sixty days after each annual anniversary of the Effective Date. The License Agreement also requires VI to pay to MGH a 1 The License Agreement additionally requires VI to pay to MGH a $ 1.0 Consulting Agreements On January 12, 2022, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Donohoe Advisory Associates, LLC. (the “Consultant”). The Company engaged the Consultant to provide assistance and advice to the Company in support of the Company’s efforts to obtain a listing on a national securities exchange. The Company agreed to pay the Consultant a retainer fee of $ 17,500 5,820 11,680 No 10,000 10,000 On March 7, 2022, the Company entered into a Consulting Agreement (the “Consulting Agreement”) with Alpha IR Group, LLC. (the “Consultant”). The Company engaged the Consultant to provide consulting, investor relations, and corporate and transaction communication related services. The initial term of the Consulting Agreement is for three months (the “Initial Term”) beginning March 1, 2022, and the Company agreed to pay compensation equal to the sum of $ 50,000 payable in cash or stock options for the three months of service. The Company incurred $ 16,667 16,667 No

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY (DEFICIT)	NOTE 7 – STOCKHOLDERS’ EQUITY (DEFICIT) Preferred Stock The Company has 20,000,000 0.001 Series A Preferred Stock On December 19, 2017, the Company amended its articles of incorporation by filing a certificate of designation with the Secretary of State of Florida therein designating a class of preferred stock as Series A Preferred Stock, $ 0.001 3 3,000,000 Each holder of shares of Series A Preferred Stock shall be entitled to the number of votes equal to the number of votes held by the number of shares of common stock into which such share of Series A Preferred Stock could be converted, and except as otherwise required by applicable law, shall have the voting rights and power equal to the voting rights and powers of the common stock In the event of liquidation, dissolution or winding up of the Company, either voluntarily or involuntarily, the holders of Series A Preferred Stock shall be entitled to receive, prior and in preference to any common stock holders, distribution of any surplus funds equal to the greater of (i) the sum of $ 1.67 per share or (ii) such amount per share as would have been payable had all shares been converted to common stock. Each share of Series A Preferred Stock is convertible into shares of common stock at a conversion Rate of 2:1 (the “Series A Conversion Rate”). The Series A Conversion Rate shall be adjusted for stock splits, stock combinations, stock dividends or similar recapitalizations. Pursuant to the Articles of Incorporation, the shares of Series A Preferred Stock automatically converted into 6,000,000 shares of common stock to be issued on February 12, 2021, (the one-year anniversary of the initial filing by the Company of the Form 10 filed with the SEC). The common stock shares for the conversion of the Series A Preferred Stock were issued on January 13, 2022. As of March 31, 2022, and December 31, 2021, there were - 0 - shares of Series A Preferred Stock issued and outstanding. Series B Preferred Stock On December 19, 2017, the Company amended the articles of incorporation by filing a certificate of designation with the Secretary of State of Florida therein designating a class of preferred stock as Series B Preferred Stock, $ 0.001 4.44 4,440,000 Each holder of shares of Series B Preferred Stock shall be entitled to the number of votes equal to the number of votes held by the number of shares of common stock into which such share of Series B Preferred Stock could be converted, and except as otherwise required by applicable law, shall have the voting rights and power equal to the voting rights and powers of the common stock. 0.83 The holder of Series B Preferred Stock may elect at any time to convert such sharers into common stock of the Company. Each share of Series B Preferred Stock is convertible into shares of common stock at a conversion rate of 1:1 (the “Series B Conversion Rate”). The Series B Conversion Rate shall be adjusted for stock splits, stock combinations, stock dividends or similar recapitalizations. Pursuant to the Articles of Incorporation, the shares of Series B Preferred Stock automatically converted into 4,440,000 shares of common stock to be issued on February 12, 2021, the one-year anniversary of the initial filing by the Company of the Form 10 filed by the Company with the SEC. The common stock shares for the conversion of the Series B Preferred Stock were issued on January 13, 2022. As of March 31, 2022, and December 31, 2021, there were - 0 - shares of Series B Preferred Stock issued and outstanding. Common Stock The Company has 300,000,000 0.001 31,188,460 19,747,283 Common Stock Issuances On February 11, 2021, the Company issued 24,000 On February 12, 2021, the Company issued 6,000,000 On February 12, 2021, the Company issued 4,440,000 During the three months ended March 31, 2022, the Company determined that the former Series B Preferred Stockholders, subsequent to all Series B Preferred Stock having previously been converted to shares of common stock in 2021, were owed additional shares of common stock due to an adjustment to the conversion price that occurred as a result of a down round trigger event that occurred in 2019 when the Company sold shares of common stock and a warrant in a private placement at a price of $ 0.25 1,001,177 Common Stock to be issued As of March 31, 2022, and March 31, 2021, there were 627,281 12,068,458 597,281 1.85 30,000 The March 31, 2021, amount related to 6,000,000 4,440,000 1,001,177 597,281 1.85 30,000 Stock Options The following table summarizes activities related to stock options of the Company for the three months ended March 31, 2022: SCHEDULE OF STOCK OPTIONS ACTIVITY Number of Weighted- Weighted- (Years) Aggregate Intrinsic Value Outstanding at December 31, 2021 1,900,000 $ 0.66 5.83 $ 1.34 Outstanding at March 31, 2022 1,900,000 $ 0.66 5.59 $ 1.94 Exercisable at March 31, 2022 1,891,667 $ 0.67 5.58 $ 1.93 The Company did no The Company recorded stock compensation expense of $ 1,082 1,081 8,333 1,081 0.25 Warrants The following table summarizes activities related to warrants of the Company for the nine months ended March 31, 2022: SCHEDULE OF WARRANTS ACTIVITY Number of Weighted- Weighted- (Years) Aggregate Intrinsic Value Outstanding and exercisable at December 31, 2021 4,060,000 $ 0.50 0.53 $ 1.50 Outstanding and exercisable at March 31, 2022 4,060,000 $ 0.50 0.27 $ 2.10 The Company did not issue any warrants during the three months ended March 31, 2022.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements in this report have been prepared by the Company without audit. In the opinion of management, all adjustments necessary to present the financial position, results of operations and cash flows for the stated periods have been made. Except as described below, these adjustments consist only of normal and recurring adjustments. Certain information and note disclosures normally included in the Company’s consolidated annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with a reading of the Company’s consolidated audited financial statements and notes thereto for the year ended December 31, 2021, filed with the Company’s annual report on Form 10-K with the Securities and Exchange Commission (the “SEC”) on March 16, 2022. Interim results of operations for the three months ended March 31, 2022, and 2021, are not necessarily indicative of future results for the full year. The unaudited condensed consolidated financial statements of the Company include the consolidated accounts of VLS and its’ wholly owned subsidiary VI. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reported period. Actual results could differ from those estimates. Significant estimates included in the financial statements, include useful the life of intangible assets, valuation allowance for deferred tax assets and non-cash equity transactions and stock-based compensation.
Cash	Cash The Company considers all highly liquid investments with an original term of three months or less to be cash equivalents. The Company held no
Intangible Assets	Intangible Assets Costs of intangible assets are accounted for through the capitalization of those costs incurred in connection with developing or obtaining such assets. Capitalized costs are included in intangible assets in the unaudited condensed consolidated balance sheets. The Company’s intangible assets consist of costs incurred in connection with securing an Exclusive Patent License Agreement with The General Hospital Corporation, d/b/a Massachusetts General Hospital (“MGH”), as amended (the “License Agreement”). These costs are being amortized over the term of the License Agreement which is based on the remaining patent life of the related patents being licensed. The Company reviews these intangible assets for possible impairment when events or changes in circumstances indicate that the assets carrying amount may not be recoverable. In evaluating the future benefit of its intangible assets, management performs an analysis of the anticipated undiscounted future net cash flows of the intangible assets over the remaining estimated useful life. An impairment loss is recorded if the carrying value of the asset exceeds the expected future cash flows.
Long-Lived Assets	Long-Lived Assets The Company reviews long-lived assets at least annually or when events or changes in circumstances reflect the fact that the recorded value may not be recoverable for impairment and recognizes impairment losses on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying values.
Equity Method Investment	Equity Method Investment The Company accounts for investments in which the Company owns more than 20 % or has the ability to exercise significant influence of the investee, using the equity method in accordance with the Financial Accounting Standard Board’s (the “FASB”) Accounting Standards Codification (“ASC”) Topic 323, Investments—Equity Method and Joint Ventures The amount of the adjustment is included in the determination of net income by the investor, and such amount reflects adjustments similar to those made in preparing consolidated statements including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between investor cost and underlying equity in net assets of the investee at the date of investment. The investment of an investor is also adjusted to reflect the investor’s share of changes in the investee’s capital. Dividends received from an investee reduce the carrying amount of the investment. A series of operating losses of an investee or other factors may indicate that a decrease in value of the investment has occurred which is other than temporary, and which should be recognized even though the decrease in value is in excess of what would otherwise be recognized by application of the equity method. In accordance with ASC 323-10-35-20 through 35-22, the investor ordinarily shall discontinue applying the equity method if the investment (and net advances) is reduced to zero and shall not provide for additional losses unless the investor has guaranteed obligations of the investee or is otherwise committed to provide further financial support for the investee. An investor shall, however, provide for additional losses if the imminent return to profitable operations by an investee appears to be assured. For example, a material, nonrecurring loss of an isolated nature may reduce an investment below zero even though the underlying profitable operating pattern of an investee is unimpaired. If the investee subsequently reports net income, the investor shall resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended. Equity and cost method investments are classified as investments. The Company periodically evaluates its equity and cost method investments for impairment due to declines considered to be other than temporary. If the Company determines that a decline in fair value is other than temporary, then a charge to earnings is recorded as an impairment loss in the accompanying consolidated statements of operations. The Company’s equity method investment consisted of equity owned in Athens Encapsulation Inc. (“AEI”), a Company controlled by former directors of the Company which was given to the Company as part of an investment and restructuring agreement entered into in May 2019. In January 2021, the Company sold its’ equity investment in AEI, back to AEI for $ 100,000 , which is included in gain on sale of equity method investment for the three months ended March 31, 2021. As of March 31, 2022, the Company did not have any remaining equity investment in AEI. During the three months ended March 31, 2021, the Company’s proportionate share of net income was insignificant.
Fair Value of Financial Instruments	Fair Value of Financial Instruments ASC 825, “Disclosures about Fair Value of Financial Instruments,” requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2022. The carrying amounts of the Company’s financial assets and liabilities, such as cash, prepaid expenses, accounts payable and accrued liabilities, payables with related parties, approximate their fair values because of the short maturity of these instruments.
Revenue Recognition	Revenue Recognition Revenue recognition is accounted for under ASC Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) and all the related amendments. The core principle of ASC 606 requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. ASC 606 defines a five-step process to achieve this core principle and, in doing so, it is possible more judgment and estimates may be required within the revenue recognition process than required under U.S. GAAP including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company’s contracts with customers are generally on a contract and work order basis and represent obligations that are satisfied at a point in time, as defined in the new guidance, generally upon delivery or has services are provided. Accordingly, revenue for each sale is recognized when the Company has completed its performance obligations. Any costs incurred before this point in time, are recorded as assets to be expensed during the period the related revenue is recognized. The Company did not generate any revenue for the three months ended March 30, 2022, and 2021.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation is accounted for based on the requirements of ASC 718 – “Compensation –Stock Compensation, Improvements to Employee Share-Based Payment
Research and Development	Research and Development Costs and expenses that can be clearly identified as research and development are charged to expense as incurred. For the three months ended March 31, 2022, and 2021, the Company incurred $ 10,000 2,307
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740-10, Income Taxes. Deferred tax assets and liabilities are recognized to reflect the estimated future tax effects, calculated at the tax rate expected to be in effect at the time of realization. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion of the deferred tax asset will not be realized. Deferred tax assets and liabilities are adjusted for the effects of the changes in tax laws and rates of the date of enactment. ASC 740-10 prescribes a recognition threshold that a tax position is required to meet before being recognized in the financial statements and provides guidance on recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure, and transition issues. Interest and penalties are classified as a component of interest and other expenses. To date, the Company has not been assessed, nor paid, any interest or penalties. Uncertain tax positions are measured and recorded by establishing a threshold for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Only tax positions meeting the more-likely-than-not recognition threshold at the effective date may be recognized or continue to be recognized.
Earnings (Loss) Per Share	Earnings (Loss) Per Share The Company reports earnings (loss) per share in accordance with ASC 260, “Earnings per Share.” Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net loss by the weighted-average number of shares of common stock, common stock equivalents and other potentially dilutive securities outstanding during the period using the treasury stock method and as-if converted method. For the period ended March 31, 2022, and 2021, the Company’s dilutive securities are convertible into 6,587,281 and 18,114,183 shares of common stock, respectively. The amount for the three months ended March 31, 2022, are not included in the computation of dilutive loss per share because their impact is antidilutive. For the three months ended March 31, 2021, the dilutive securities are included in diluted net income per share. The following table presents a reconciliation of basic and diluted net income (loss) per share for the three months ended March 31, 2022, and 2021: SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET INCOME (LOSS) PER SHARE 2022 2021 For the three months ended March 31, 2022 2021 Net income (loss) per common share - basic: Net income (loss) available to common shareholders $ (167,047 ) $ 50,230 Weight average common shares outstanding - basic 28,712,656 17,496,083 Net income (loss) per common share - basic $ (0.01 ) $ 0.00 Net income (loss) per common share - diluted: Net income (loss) available to common shareholders $ (167,047 ) $ 50,230 Add: stock- based compensation -- 2,163 Numerator for income (loss) per common share - diluted $ (167,047 ) $ 52,393 Weight average common shares outstanding - diluted Basic 28,712,656 17,496,083 Weight average common shares outstanding - Basic 28,712,656 17,496,083 Stock Options -- 2,681,549 Warrants -- 1,064,000 Common stock to be issued -- 12,067,458 Denominator weighted average common shares outstanding - diluted 28,712,656 33,309,090 Net income (loss) per common share - diluted $ (0.01 ) $ 0.00 The following table represents the classes of dilutive securities as of March 31, 2022, and 2021: SCHEDULE OF ANTIDILUTIVE SECURITIES OF EARNINGS PER SHARE March 31, 2022 March 31, 2021 Common stock to be issued 627,281 12,067,458 Stock options 1,900,000 1,900,000 Warrants to purchase common stock 4,060,000 4,146,725 Antidilutive securities 6,587,281 18,114,183
Recent Accounting Pronouncements	Recent Accounting Pronouncements Management does not believe that any recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying unaudited condensed consolidated financial statements for the three months ended March 31, 2022, and 2021.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET INCOME (LOSS) PER SHARE	The following table presents a reconciliation of basic and diluted net income (loss) per share for the three months ended March 31, 2022, and 2021: SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET INCOME (LOSS) PER SHARE 2022 2021 For the three months ended March 31, 2022 2021 Net income (loss) per common share - basic: Net income (loss) available to common shareholders $ (167,047 ) $ 50,230 Weight average common shares outstanding - basic 28,712,656 17,496,083 Net income (loss) per common share - basic $ (0.01 ) $ 0.00 Net income (loss) per common share - diluted: Net income (loss) available to common shareholders $ (167,047 ) $ 50,230 Add: stock- based compensation -- 2,163 Numerator for income (loss) per common share - diluted $ (167,047 ) $ 52,393 Weight average common shares outstanding - diluted Basic 28,712,656 17,496,083 Weight average common shares outstanding - Basic 28,712,656 17,496,083 Stock Options -- 2,681,549 Warrants -- 1,064,000 Common stock to be issued -- 12,067,458 Denominator weighted average common shares outstanding - diluted 28,712,656 33,309,090 Net income (loss) per common share - diluted $ (0.01 ) $ 0.00
SCHEDULE OF ANTIDILUTIVE SECURITIES OF EARNINGS PER SHARE	The following table represents the classes of dilutive securities as of March 31, 2022, and 2021: SCHEDULE OF ANTIDILUTIVE SECURITIES OF EARNINGS PER SHARE March 31, 2022 March 31, 2021 Common stock to be issued 627,281 12,067,458 Stock options 1,900,000 1,900,000 Warrants to purchase common stock 4,060,000 4,146,725 Antidilutive securities 6,587,281 18,114,183

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	The Company’s intangible assets consisted of the following at March 31, 2022, and December 31, 2021: SCHEDULE OF INTANGIBLE ASSETS March 31, 2022 December 31, 2021 Licensed patents $ 492,514 $ 492,514 Accumulated amortization (128,816 ) (120,994 ) Balance $ 363,698 $ 371,520
SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS	Future expected amortization of intangible assets is as follows: SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS Fiscal year ending December 31, 2022 (months remaining) $ 23,477 2023 31,299 2024 31,299 2025 31,299 2026 31,299 Thereafter 215,025 Total $ 363,698

STOCKHOLDERS_ EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT) (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
SCHEDULE OF STOCK OPTIONS ACTIVITY	The following table summarizes activities related to stock options of the Company for the three months ended March 31, 2022: SCHEDULE OF STOCK OPTIONS ACTIVITY Number of Weighted- Weighted- (Years) Aggregate Intrinsic Value Outstanding at December 31, 2021 1,900,000 $ 0.66 5.83 $ 1.34 Outstanding at March 31, 2022 1,900,000 $ 0.66 5.59 $ 1.94 Exercisable at March 31, 2022 1,891,667 $ 0.67 5.58 $ 1.93
SCHEDULE OF WARRANTS ACTIVITY	The following table summarizes activities related to warrants of the Company for the nine months ended March 31, 2022: SCHEDULE OF WARRANTS ACTIVITY Number of Weighted- Weighted- (Years) Aggregate Intrinsic Value Outstanding and exercisable at December 31, 2021 4,060,000 $ 0.50 0.53 $ 1.50 Outstanding and exercisable at March 31, 2022 4,060,000 $ 0.50 0.27 $ 2.10

ORGANIZATION (Details Narrative

ORGANIZATION (Details Narrative) - $ / shares	Sep. 13, 2017	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reverse stock split	On September 13, 2017, the Company changed its name to Vicapsys Life Sciences, Inc., effected a 1-for-100 reverse stock split of its outstanding common stock, increased the Company’s authorized capital stock to 300,000,000 shares of common stock, par value $0.001 per share, and 20,000,000 shares of “blank check” preferred stock, par value $0.001 per share
Common stock, shares authorized	300,000,000	300,000,000	300,000,000
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000	20,000,000
Preferred stock, par value	$ 0.001	$ 0.001	$ 0.001

GOING CONCERN AND MANAGEMENT__2

GOING CONCERN AND MANAGEMENT’S PLANS (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 167,047	$ (50,230)
Working capital	651,315
Accumulated deficit	$ 14,296,672		$ 14,129,625
Proceeds from sale of common stock			$ 560,000
Number of shares issued			2,240,000

SCHEDULE OF RECONCILIATION OF B

SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED NET INCOME (LOSS) PER SHARE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Net income (loss) available to common shareholders	$ (167,047)	$ 50,230
Weight average common shares outstanding - Basic	28,712,656	17,496,083
Net income (loss) per common share - basic	$ (0.01)	$ 0
Add: stock- based compensation		$ 2,163
Numerator for income (loss) per common share - diluted	$ (167,047)	$ 52,393
Stock Options		2,681,549
Warrants		1,064,000
Common stock to be issued		12,067,458
Denominator weighted average common shares outstanding - diluted	28,712,656	33,309,090
Net income (loss) per common share - diluted	$ (0.01)	$ 0

SCHEDULE OF ANTIDILUTIVE SECURI

SCHEDULE OF ANTIDILUTIVE SECURITIES OF EARNINGS PER SHARE (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	6,587,281	18,114,183
Common Stock to be Issued [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	627,281	12,067,458
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	1,900,000	1,900,000
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	4,060,000	4,146,725

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Cash equivalents	$ 0		$ 0
Equity Method Investment, Ownership Percentage	20.00%
Proceeds from Sale of Equity Method Investments		$ 100,000
Research and development expenses	$ 10,000	$ 2,307
Dilutive securities	6,587,281	18,114,183
Athens Encapsulation Inc [Member]
Proceeds from Sale of Equity Method Investments		$ 100,000

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Licensed patents	$ 492,514	$ 492,514
Accumulated amortization	(128,816)	(120,994)
Balance	$ 363,698	$ 371,520

SCHEDULE OF FUTURE AMORTIZATION

SCHEDULE OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2022 (months remaining)	$ 23,477
2023	31,299
2024	31,299
2025	31,299
2026	31,299
Thereafter	215,025
Balance	$ 363,698	$ 371,520

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - License Agreement [Member] - Massachusetts General Hospital [Member] - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of outstanding common shares	20.00%
Intangible assets remaining amortized period	16 years
Amortization of ntangible assets	$ 7,822	$ 7,822

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Mar. 14, 2022	Jan. 02, 2022	Nov. 05, 2021	Mar. 31, 2022	Mar. 31, 2021	Jul. 30, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Accounts payable				$ 136,500			$ 112,860
Annual license fee						$ 10,000
Royalty expense	$ 100,000
Research and development expenses				10,000	$ 2,307
Fees				113,885	16,082
Accrued Salaries, Current				115,312			115,312
Proceeds from sale of equity method investment					100,000
Massachusetts General Hospital [Member]
Related Party Transaction [Line Items]
Accounts payable				0			3,860
Research and development expenses				0	2,307
Federico Pier [Member]
Related Party Transaction [Line Items]
Accounts payable				70,000			60,000
Fees				30,000	22,500
Jeff Wright [Member]
Related Party Transaction [Line Items]
Accounts payable				47,500			40,000
Fees				22,500	45,000
CEO [Member]
Related Party Transaction [Line Items]
Accrued Salaries, Current				115,312			115,312
Consulting Agreement [Member]
Related Party Transaction [Line Items]
Related party expenses				6,000	0
Accounts payable				19,000			13,000
Consulting Agreement [Member] | Toneguzzo Ph.D [Member]
Related Party Transaction [Line Items]
Payment to related party		$ 5,000
Related party expenses				15,000	$ 0
Accounts payable				5,000			$ 0
License Agreement [Member]
Related Party Transaction [Line Items]
Financing amount	2,000,000
Additional financing amount	$ 8,000,000
Royalty rate on sales	1.00%
Related parties, description	The License Agreement additionally requires VI to pay to MGH a $1.0 million “success payment” within 60 days after the first achievement of total net sales of Product or Process equal to or to exceed $100,000,000 in any calendar year and $4,000,000 within 60 days after the first achievement of total net sales of Product or Process equal or exceed $250,000,000 in any calendar year. The Company is also required to reimburse MGH’s expenses in connection with the preparation, filing, prosecution and maintenance of all Patent Rights.
License Agreement [Member] | Massachusetts General Hospital [Member]
Related Party Transaction [Line Items]
Payment to related party				$ 1,000,000
Initial Term [Member] | Consultant [Member] | Consulting Agreement [Member]
Related Party Transaction [Line Items]
Payment to related party			$ 2,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Mar. 07, 2022	Jan. 12, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Professional fee			$ 113,885	$ 16,082
Prepaid expense			13,178		$ 5,498
Accounts payable			$ 514,000		$ 487,792
License Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License agreement, description			the Company executed a License Agreement with MGH. Prior to the first commercial sale, the License Agreement requires the Company to pay MGH a non-refundable annual license fee of $10,000 by June 30, 2022, and on each subsequent anniversary of the Effective Date thereafter. Additionally, following the first commercial sale, the License agreement requires the Company to pay MGH a non-refundable annual minimum royalty in the amount of $100,000 per year within sixty days after each annual anniversary of the Effective Date.
License Agreement [Member] | Massachusetts General Hospital [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License agreement, description			The License Agreement additionally requires VI to pay to MGH a $1.0 million “success payment” within 60 days after the first achievement of total net sales of Product or Process equal or exceeding $100,000,000 in any calendar year and $4,000,000 within 60 days after the first achievement of total net sales of Product or Process equal to or exceeding $250,000,000 in any calendar year. The Company is also required to reimburse MGH’s expenses in connection with the preparation, filing, prosecution and maintenance of all Patent Rights. No expense reimbursements were paid to MGH during the three months ended March 31, 2022, and 2021.
Percentage for royalty			1.00%
Payment for related party			$ 1,000,000
Consulting Agreement [Member] | Donohoe Advisory Associates, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payment for retainer fee		$ 17,500
Professional fee			5,820	0
Prepaid expense			11,680
Payment of success fee to consultant			10,000
Dividends, Common Stock			10,000
Consulting Agreement [Member] | Alpha IR Group, LLC [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Professional fee			16,667	$ 0
Agreed to payment of compensation	$ 50,000
Accounts payable			$ 16,667

SCHEDULE OF STOCK OPTIONS ACTIV

SCHEDULE OF STOCK OPTIONS ACTIVITY (Details)	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Equity [Abstract]
Number of Options, Outstanding, balance | shares	1,900,000
Weighted-Average Exercise Price per Share, Outstanding, Beginning | $ / shares	$ 0.66
Weighted-Average Remaining Life (Years), Outstanding, Beginning	5 years 9 months 29 days
Number of Option, Aggregate Intrinsic Value - Beginning | $	$ 1.34
Number of Options, Outstanding, balance | shares	1,900,000
Weighted-Average Exercise Price per Share, Outstanding, Ending | $ / shares	$ 0.66
Weighted-Average Remaining Life (Years), Outstanding, Ending	5 years 7 months 2 days
Number of Option, Aggregate Intrinsic Value - Ending | $	$ 1.94
Number of Options, Exercisable | shares	1,891,667
Weighted-Average Exercise Price per Share, Exercisable | $ / shares	$ 0.67
Weighted-Average Remaining Life (Years), Exercisable	5 years 6 months 29 days
Exercisable, Aggregate Intrinsic Value | $	$ 1.93

SCHEDULE OF WARRANTS ACTIVITY (

SCHEDULE OF WARRANTS ACTIVITY (Details)	3 Months Ended
	Mar. 31, 2022USD ($)$ / sharesshares
Equity [Abstract]
Number of Options, Outstanding and Execisable, Beginning | shares	4,060,000
Weighted-Average Exercise Price per Share, Outstanding and Exercisable, Beginnig | $ / shares	$ 0.50
Weighted-Average Remaining Life (Years), Outstanding	6 months 10 days
Number of Option, Aggregate Intrinsic Value - Beginning | $	$ 1.50
Number of Options, Outstanding and Execisable, Ending | shares	4,060,000
Weighted-Average Exercise Price per Share, Outstanding and Exercisable, Ending | $ / shares	$ 0.50
Weighted-Average Remaining Life (Years), Outstanding	3 months 7 days
Number of Option, Aggregate Intrinsic Value - Ending | $	$ 2.10

STOCKHOLDERS_ EQUITY (DEFICIT_2

STOCKHOLDERS’ EQUITY (DEFICIT) (Details Narrative) - USD ($)	Feb. 12, 2021	Feb. 11, 2021	Dec. 19, 2017	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Sep. 13, 2017
Class of Stock [Line Items]
Preferred stock, shares authorized				20,000,000		20,000,000	20,000,000
Preferred stock par value				$ 0.001		$ 0.001	$ 0.001
Number of common stock shares issued						2,240,000
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 outstanding				31,188,460		19,747,283
Number of common stock to be issued				627,281	12,068,458
Shares issued for conversion				597,281
Equity Option [Member]
Class of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period				0
Stock compensation expense				$ 1,082	$ 1,081
Options to purchase shares of common stock remain unvested				8,333
Unrecognized stock compensation expense				$ 1,081
Weighted average period for recognition				3 months
Stock Issuance And Release Agreement [Member]
Class of Stock [Line Items]
Shares issued for conversion					597,281
Shares issued price per share				$ 1.85	$ 1.85
Investor [Member]
Class of Stock [Line Items]
Number of common stock shares issued		24,000
Two Initial Shareholders [Member] | Stock Issuance And Release Agreement [Member]
Class of Stock [Line Items]
Number of common stock to be issued				30,000	30,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			3,000,000
Preferred stock par value			$ 0.001
Preferred stock voting rights			Each holder of shares of Series A Preferred Stock shall be entitled to the number of votes equal to the number of votes held by the number of shares of common stock into which such share of Series A Preferred Stock could be converted, and except as otherwise required by applicable law, shall have the voting rights and power equal to the voting rights and powers of the common stock
Preferred stock conversion price per share			$ 1.67
Preferred stock conversion, description			Each share of Series A Preferred Stock is convertible into shares of common stock at a conversion Rate of 2:1 (the “Series A Conversion Rate”). The Series A Conversion Rate shall be adjusted for stock splits, stock combinations, stock dividends or similar recapitalizations.
Number of common stock shares issued	6,000,000
Preferred Stock, Shares Outstanding				0
Shares issued for conversion					6,000,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized			4,440,000
Preferred stock par value			$ 0.001
Preferred stock voting rights			Each holder of shares of Series B Preferred Stock shall be entitled to the number of votes equal to the number of votes held by the number of shares of common stock into which such share of Series B Preferred Stock could be converted, and except as otherwise required by applicable law, shall have the voting rights and power equal to the voting rights and powers of the common stock.
Preferred stock conversion price per share			$ 0.83
Preferred stock conversion, description			The holder of Series B Preferred Stock may elect at any time to convert such sharers into common stock of the Company. Each share of Series B Preferred Stock is convertible into shares of common stock at a conversion rate of 1:1 (the “Series B Conversion Rate”). The Series B Conversion Rate shall be adjusted for stock splits, stock combinations, stock dividends or similar recapitalizations.
Number of common stock shares issued	4,440,000
Preferred Stock, Shares Outstanding				0
Number of common stock to be issued					4,440,000
Shares issued for conversion					1,001,177
Series B Preferred Stock [Member] | Private Placement [Member]
Class of Stock [Line Items]
Stock price per share				$ 0.25
Sale of stock				1,001,177