Cosmos Health (COSM) 10-K 14 Apr 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Apr. 14, 2020	Jun. 30, 2019
Document And Entity Information
Entity Registrant Name	Cosmos Holdings Inc.
Entity Central Index Key	0001474167
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Common Stock Shares Outstanding		13,305,030
Entity Public Float			$ 14,636,141
EntityFileNumber	000-54436
EntityAddressAddressLine1	141 West Jackson Blvd
EntityAddressAddressLine2	Suite 4236
EntityAddressPostalZipCode	60604
EntityTaxIdentificationNumber	270611758
EntityAddressCityOrTown	Chicago
LocalPhoneNumber	536-3102
CityAreaCode	312
EntityAddressStateOrProvince	ILLINOIS

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 38,537	$ 864,343
Accounts receivable, net	7,348,945	4,753,291
Accounts receivable - related party	1,919,043	189,760
Marketable securities	238,940	2,712,890
Inventory	3,474,220	3,202,767
Other investments	4,381	4,471
Prepaid expenses and other current assets	1,549,055	1,662,579
Prepaid expenses and other current assets - related party	5,940,124	4,957,061
Operating lease right-of-use asset	498,180
Financing lease right-of-use asset	167,310
TOTAL CURRENT ASSETS	21,178,735	18,347,162
Property and equipment, net	1,734,781	1,425,632
Goodwill and intangible assets, net	263,681	296,767
Other assets	702,439	625,392
TOTAL ASSETS	23,879,636	20,694,953
CURRENT LIABILITIES:
Accounts payable and accrued expenses	8,561,681	5,933,464
Accounts payable and accrued expenses - related party	240,302	139,556
Customer advances	247,318	1,067,200
Convertible notes payable, net of unamortized discount of $29,509 and $229,713, respectively	1,470,491	135,800
Notes payable	12,029,724	9,803,733
Notes payable - related party	1,375,532	1,793,437
Lines of credit	2,750,992	1,514,583
Loans payable - related party	1,026,264	1,775,251
Taxes payable	175,939
Operating lease liability, current portion	139,556
Financing lease liability, current portion	58,185
Other current liabilities	165,271	111,212
TOTAL CURRENT LIABILITIES	28,241,255	22,274,236
Share settled debt obligation	1,554,590	1,554,590
Operating lease liability, net of current portion	353,024
Financing lease liability, net of current portion	82,523
Other liabilities	109,073	183,577
TOTAL LIABILITIES	30,340,465	24,012,403
Commitments and Contingencies (see Note 13)
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.001 par value; 100,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2019 and 2018, respectively
Common stock, $0.001 par value; 300,000,000 shares authorized; 13,225,387 and 13,878,757 shares issued and 12,860,059 and 13,685,067 outstanding as of December 31, 2019 and 2018, respectively	13,225	13,879
Additional paid-in capital	13,525,749	13,133,982
Treasury stock, 365,328 and 193,690 shares as of December 31, 2019 and 2018, respectively	(411,854)	(225,494)
Accumulated deficit	(19,571,610)	(16,272,645)
Accumulated other comprehensive income (loss)	(16,339)	32,828
TOTAL STOCKHOLDERS' DEFICIT	(6,460,829)	(3,317,450)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 23,879,636	$ 20,694,953

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
CURRENT LIABILITIES:
Convertible notes payable, net of unamortized discount	$ 29,509	$ 229,713
STOCKHOLDERS' DEFICIT:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	13,225,387	13,878,757
Common stock, shares, outstanding	12,860,059	13,685,067
Treasury Stock	365,328	193,690

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
REVENUE	$ 39,676,385	$ 37,083,882
COST OF GOODS SOLD	36,014,116	34,675,242
GROSS PROFIT	3,662,269	2,408,640
OPERATING EXPENSES
General and administrative expenses	3,523,450	3,593,132
Depreciation and amortization expense	394,628	43,930
TOTAL OPERATING EXPENSES	3,918,078	3,637,062
LOSS FROM OPERATIONS	(255,809)	(1,228,422)
OTHER INCOME (EXPENSE)
Other income, net	233,877	19,078
Interest expense - related party	(264)	(264)
Interest expense	(1,412,465)	(967,824)
Non-cash interest expense	(320,205)	(5,839,581)
Forgiveness of debt		47,717
Loss on equity investments, net	(1,220,085)
Gain on exchange of equity investments, and gain on change in fair value		2,500,000
Gain on sale of Amplerissimo		146,647
Loss on extinguishment of debt		(1,464,698)
Debt modification expense		(1,942,156)
Foreign currency transaction loss, net	(141,199)	(313,829)
TOTAL OTHER EXPENSE, NET	(2,860,341)	(7,814,910)
LOSS BEFORE INCOME TAXES	(3,116,150)	(9,043,332)
INCOME TAX EXPENSE	(182,815)	(17,326)
NET LOSS	(3,298,965)	(9,060,658)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustment, net	(49,167)	1,418,057
TOTAL COMPREHENSIVE LOSS	$ (3,348,132)	$ (7,642,601)
BASIC NET INCOME (LOSS) PER SHARE	$ (0.25)	$ (0.68)
DILUTED NET INCOME (LOSS) PER SHARE	$ (0.25)	$ (0.68)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING
Basic	13,273,596	13,306,612
Diluted	13,273,596	13,306,612

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT - USD ($)	Total	Preferred Stock	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Balance, shares at Jan. 01, 2018			12,825,393	(138,689)
Balance, amount at Jan. 01, 2018	$ (3,027,844)		$ 12,825	$ (95,882)	$ 5,652,429	$ (7,211,987)	$ (1,385,229)
Foreign currency translation adjustment, net	1,418,057						1,418,057
Stock-based compensation	242,003				242,003
Modification of debt	3,518,241				3,518,241
Conversion of convertible notes and accrued interest to common stock, shares			1,053,364
Conversion of convertible notes and accrued interest to common stock, amount	1,719,394		$ 1,054		1,718,340
Purchase of treasury stock from officer, shares				(55,000)
Purchase of treasury stock from officer, amount	(129,612)			$ (129,612)
Relative fair value of warrants issued with convertible debt	910,078				910,078
Beneficial conversion feature discount related to convertible notes payable	934,922				934,922
Fair value of warrants issued for services	157,969				157,969
Net loss	(9,060,658)					(9,060,658)
Balance, shares at Dec. 31, 2018			13,878,757	(193,689)
Balance, amount at Dec. 31, 2018	(3,317,450)		$ 13,879	$ (225,494)	13,133,982	(16,272,645)	32,828
Foreign currency translation adjustment, net	(49,167)						(49,167)
Net loss	(3,298,965)					(3,298,965)
Cancellation of pre-delivery shares issued in connection with convertible debentures, shares			(573,742)
Cancellation of pre-delivery shares issued in connection with convertible debentures, amount			$ (574)		574
Purchase of treasury stock from third party, shares				(391,268)
Purchase of treasury stock from third party, amount	(845,247)			$ (845,247)
Conversion of related party debt to common stock, shares			140,001
Conversion of related party debt to common stock, amount	1,050,000		$ 140		1,049,860
Cancellation of treasury shares, shares			(219,629)	219,629
Cancellation of treasury shares, amount			$ (220)	$ 658,887	(658,667)
Balance, shares at Dec. 31, 2019			13,225,387	(365,328)
Balance, amount at Dec. 31, 2019	$ (6,460,829)		$ 13,225	$ (411,854)	$ 13,525,749	$ (19,571,610)	$ (16,339)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,298,965)	$ (9,060,658)
Adjustments to Reconcile Net Loss to Net Cash Used In Operating Activities:
Depreciation and amortization expense	234,086	43,930
Amortization of right-of-use assets	160,542
Amortization of debt discounts	320,205	5,681,613
Lease expense	185,540
Loss on extinguishment of debt		1,464,698
Gain on forgiveness of debt		(47,717)
Loss on debt modification		1,942,156
Gain on sale of subsidiary		(146,647)
Stock-based compensation		242,002
Gain on exchange of equity instruments and gain on change in fair value		$ (2,500,000)
Fair value of warrants issued for services		157,969
Loss on change in fair value of equity investments	$ 1,220,085
Changes in Assets and Liabilities:
Accounts receivable, net	(2,595,654)	483,820
Accounts receivable - related party	(1,729,283)	(18,368)
Inventory	(271,453)	1,431,012
Prepaid expenses and other current assets	76,773	864,925
Prepaid expenses and other current assets - related party	(983,063)	(2,232,089)
Other assets	(77,047)	846,322
Accounts payable and accrued expenses	2,628,217	(332,749)
Accounts payable and accrued expenses - related party	100,746	(296,974)
Customer advances	(819,882)	(125,400)
Other current liabilities	54,059	31,116
Lease liabilities	(142,846)
Taxes payable	175,939	64,885
Other liabilities	(26,841)	(49,152)
NET CASH USED IN OPERATING ACTIVITIES	(4,788,842)	(1,555,306)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of fixed assets	(672,789)	(503,362)
Proceeds from sale of investments	1,261,718
Cash received from acquisition		307,590
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	588,929	(195,772)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of convertible note payable	(365,514)	(3,557,381)
Proceeds from convertible note payable	1,380,000	1,845,000
Payment of related party note payable	(382,055)	(18,330)
Proceeds from related party note payable		1,718,400
Payment of note payable	(221,418)	(1,259,804)
Proceeds from note payable	2,500,000	403,957
Payment of related party loan	(262,226)	(631,166)
Proceeds from related party loan	585,915	2,408,965
Proceeds from issuance of share settled debt obligation		1,554,590
Payment of lines of credit	(11,098,839)	(437,576)
Proceeds from lines of credit	12,371,190	41,700
Payments of finance lease liability	(74,476)
Purchase of treasury stock	(845,247)	(80,053)
NET CASH PROVIDED BY FINANCING ACTIVITIES	3,587,330	1,988,302
Effect of exchange rate changes on cash	(213,223)	(155,734)
NET CHANGE IN CASH	(825,806)	81,490
CASH AT BEGINNING OF YEAR	864,343	782,853
CASH AT END OF YEAR	$ 38,537	$ 864,343
Supplemental Disclosure of Cash Flow Information
Cash paid during the period:
Interest	$ 447,731	$ 299,946
Income tax	11,605
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Cancellation of pre-delivery shares issued for conversion of convertible notes payable	574
Issuance of note payable related to the acquisition of Cosmofarm		227,912
Related party accrual for repurchase of shares of common stock		48,683
Proceeds due from sale of subsidiary		$ 5,811
Pre-delivery shares issued for future conversion of convertible notes payable		1,054
Discounts related to warrants issued with convertible debentures		910,078
Discounts related to beneficial conversion features of convertible debentures	$ 120,000	$ 934,922
Conversion of convertible notes payable to common stock	$ 1,050,000	$ 1,719,395

ORGANIZATION AND NATURE OF BUSI

ORGANIZATION AND NATURE OF BUSINESS	12 Months Ended
	Dec. 31, 2019
ORGANIZATION AND NATURE OF BUSINESS
NOTE 1 - ORGANIZATION AND NATURE OF BUSINESS	Cosmos Holdings, Inc. (“us,” “we,” or the “Company”) is an international pharmaceutical wholesaler. The Company imports, exports and distributes brand-name and generic pharmaceuticals, over-the-counter (“OTC”) medicines, a variety of vitamins, and dietary supplements. Through December 31, 2019, we operated our business through three wholly owned subsidiaries: (i) SkyPharm S.A. (“SkyPharm”), headquartered in Thessaloniki, Greece; (ii) Decahedron Ltd. (“Decahedron”), headquartered in Harlow, United Kingdom (“UK”); and (iii) Cosmofarm Ltd. (“Cosmofarm”), headquartered in Athens, Greece. Our business is primarily comprised of cross-border sales of brand-name pharmaceutical products in the European Union (“EU”). Our cross-border pharmaceutical wholesale business serves wholesale pharmaceutical distributors and independent retail pharmacies across the EU through a network of three strategic distribution centers, as well as an additional warehousing facility. Pharmaceutical manufacturers generally implement variable pricing strategies within the EU market. Identifying and evaluating price spreads between EU member states enables us to source brand-name pharmaceuticals from countries where ex-factory prices are comparatively low and export to countries where the same products are priced higher. We remain focused on leveraging our growing purchasing scale and supplier relationships to secure discounts and provide pharmaceuticals at reduced prices and continuing to drive organic growth at attractive margins for our cross-border pharmaceutical wholesale business. We regularly evaluate and undertake strategic initiatives to expand our distribution reach, improve our profit margins, and strengthen our competitive position. In 2018, we entered the vitamins and food supplements segment and in the fourth quarter of 2018 we posted the first sales of our own brand of nutraceuticals; SkyPremium Life We make use of analytics and customer feedback from our EU-wide network of wholesale pharmaceutical distributors and independent retail pharmacies to identify and evaluate which nutraceutical product codes to develop to add to our SkyPremium Life SkyPremium Life We are also closely monitoring the legal framework for prescription and non-prescription derivatives of cannabis products as it develops in Europe. As the legal framework and processes are developed and implemented in each respective EU country, we will utilize our existing network to distribute both prescription and non-prescription derivatives of cannabis products to our current customer base. We currently intend to only distribute prescription and non-prescription derivatives of cannabis products to approved EU countries and not in the U.S. We regularly evaluate acquisition targets that would allow us to expand our distribution reach and/or vertically integrate into the supply chain of the products that we currently distribute. We believe that the demand for reasonably priced medicines, delivered on time and in the highest quality is set to increase in the years to come, as the population’s life expectancy increases. With our product portfolio of patented and non-patented medicines, we contribute to the optimization of efficient medicinal care, and thereby lowering cost for health insurance funds, companies, and patients. We also believe that the demand for non-prescription wellness products such as food and dietary supplements will continue to increase as individuals are increasingly supplementing their nutritional intake. We believe the EU pharmaceutical import/export market will continue to grow. We continue to encounter competition in the market as we grow. The competition comes in the form of level of service, reliability, and product quality. On the procurement side, we continue to expand our vendor base. In order to minimize business risks, we diversify our sources of supply. We maintain our high-quality standards by carefully selecting and qualifying our suppliers as well as actively ensuring that our suppliers meet our standard of quality control on an ongoing basis. On July 22, 2015, the Hellenic Ministry of Health and more specifically the National Organization for Medicines granted SkyPharm a license for the wholesale of pharmaceutical products for human use. The license is valid for a period of five years and pursuant to the EU directive of (2013/C343/01). Decahedron received its Wholesale Distribution Authorization for human use on November 7, 2013, from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) in accordance with Regulation 18 of the Human Medicines Regulations 2012 (SI 2012/1916) and it is subject to the provision of those Regulations and the Medicines Act 1971. This license will continue to remain in force from the date of issue by the Licensing Authority unless cancelled, suspended, revoked or varied as to the period of its validity or relinquished by the authorization holder. On February 2, 2019, the Hellenic Ministry of Health and the National Organization for Medicines extended the validity of Cosmofarm’s license for the wholesale of pharmaceutical products for human use for a period of five years and pursuant to the EU directive of (2013/C 343/01). Corporate History and Structure Cosmos Holdings, Inc. was incorporated in the State of Nevada under the name Prime Estates and Developments, Inc. on July 21, 2009. On November 14, 2013, we changed our name to Cosmos Holdings, Inc. On September 27, 2013, the Company, closed a reverse take-over transaction by which it acquired a private company whose principal activities are the trading of products, providing representation, and provision of consulting services to various sectors. Pursuant to a Share Exchange Agreement between the Registrant and Amplerissimo Ltd., a company incorporated in Cyprus (“Amplerissimo”), the Company acquired 100% of Amplerissimo’s issued and outstanding common stock. As a result of the reverse take-over transaction, Amplerissimo became a wholly owned subsidiary of the Company. On August 1, 2014, the Company, through its Cypriot subsidiary Amplerissimo, formed SkyPharm S.A., a Greek corporation (“SkyPharm”), a subsidiary that focuses on the trading, sourcing and distribution of pharmaceutical products. In February 2017, the Company completed the acquisition of Decahedron Ltd., a UK corporation (“Decahedron”) consummating the transactions contemplated by the Stock Purchase Agreement, dated November 17, 2016 as amended (the “Decahedron SPA”). Pursuant to the terms of the Decahedron SPA, the shareholders of Decahedron received an aggregate of 170,000 shares of common stock of the Company (the “Stock Consideration”), which were delivered following the closing in exchange for all of the ordinary shares of Decahedron. Decahedron is a fully licensed wholesaler of pharmaceutical products and its primary activity is the distribution, import and export of pharmaceuticals. In accordance with the terms of the SPA, the principal and majority shareholder of Decahedron, Nicholas Lazarou, remained as a director and officer of Decahedron until his resignation in June 2019. On November 21, 2017, the Company effected a one-for-ten (1:10) reverse stock split whereby the Company decreased, by a ratio of one-for-ten (1:10) the number of issued and outstanding shares of common stock. Proportional adjustments for the reverse stock split were made to the Company’s outstanding stock options, and warrants including all share and per-share data, for all amounts and periods presented in the consolidated financial statements. On September 29, 2018, Amplerissimo transferred its remaining 22% investment in SkyPharm to the Company. The Company now holds 100% of the capital stock of SkyPharm and SkyPharm remains a 100% wholly owned subsidiary of the Company. On September 30, 2018, the Company entered into a Share Purchase Agreement with an unaffiliated third party and sold 100% of the issued capital stock of its subsidiary, Amplerissimo. On December 19, 2018, the Company completed the purchase of all of the capital stock of Cosmofarm Ltd., a pharmaceutical wholesaler based in Athens, Greece. The principal of the selling shareholder is Panagiotis Kozaris, who remained with Cosmofarm as a director and chief operating officer once it became a wholly owned subsidiary of the Company. Grigorios Siokas, the Company’s CEO, became the new CEO of Cosmofarm. Mr. Kozaris had no prior relationship to the Company other than as an independent shareholder. The purchase price payable is €200,000 evidenced by a promissory note. Going Concern The Company’s consolidated financial statements are prepared in conformity with U.S. GAAP which contemplates the continuation of the Company as a going concern. For the year ended December 31, 2019, the Company had revenue of $39,676,385, a net loss of $3,298,965 and net cash used in operations of $4,788,842. Additionally, as of December 31, 2019, the Company had an accumulated deficit of $19,571,610, a working capital deficit of $7,062,520 and stockholders’ deficit of $6,460,829. It is management’s opinion that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this filing. The consolidated financial statements do not include any adjustments to reflect the possible future effect on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from the outcome of this uncertainty. The Company has not yet established an adequate ongoing source of revenues sufficient to cover its operating costs and to allow it to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease development of operations. In order to continue as a going concern, develop a reliable source of revenues, and achieve a profitable level of operations, the Company will need, among other things, additional capital resources. Management’s plans to continue as a going concern include raising additional capital through increased sales of product and by sale of equity and/or debt. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described herein and eventually secure other sources of financing and attain profitable operations. Summary of Significant Accounting Policies Basis of Financial Statement Presentation The accompanying consolidated financial statements have been prepared in accordance with principles generally accepted in the United States of America. Principles of Consolidation Our consolidated accounts include our accounts and the accounts of our wholly owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated. Use of Estimates The preparation of the consolidated financial statements in conformity with 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. Foreign Currency Translation and Other Comprehensive Income (Loss) The functional currency of the Company’s subsidiaries is the Euro and British Pound. For financial reporting purposes, both the Euro (“EUR”) and British Pound (“GBP”) have been translated into United States dollars ($) and/or (USD) as the reporting currency. Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive loss.” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive loss as other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of EUR or GBP to USD after the balance sheet date. Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses). Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. As of December 31, 2019 and 2018, the exchange rates used to translate amounts in Euros into USD and British Pounds into USD for the purposes of preparing the consolidated financial statements were as follows: December 31, 2019 December 31, 2018 Exchange rate on balance sheet dates EUR: USD exchange rate 1.1227 1.1456 GBP: USD exchange rate 1.3185 1.2734 Average exchange rate for the period EUR: USD exchange rate 1.1194 1.1817 GBP: USD exchange rate 1.2767 1.3348 Cash and Cash Equivalents For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2019 and December 31, 2018, there were no cash equivalents. The Company maintains bank accounts in the United States denominated in U.S. Dollars and in the Republic of Cyprus, in Greece and in Bulgaria all of which are denominated in Euros. Additionally, the Company maintains a bank account in the United Kingdom denominated in British Pounds. For the year ended December 31, 2019, the amounts in these accounts were $14,451, $10,987 and $4,080. For the year ended December 31, 2018, the amounts in these accounts were $242,903, $203,806 and $119,357. Additionally, for the years ended December 31, 2019 and 2018, the Company had cash on hand in the amount of $52,489 and $166,350, respectively. Reclassifications to Prior Period Financial Statements and Adjustments Certain reclassifications have been made in the Company’s financial statements of the prior year to conform to the current year presentation. $2,500,000 in equity investment from the year ended December 31, 2018 was reclassified to marketable securities along with $212,890 from other investments resulting in marketable securities having an ending balance of $2,712,890 and other investments having an ending balance of $4,471 as of December 31, 2018. These reclassifications have no impact on previously reported net income. Accounts Receivable, net Accounts receivable are stated at their net realizable value. The allowance for doubtful accounts against gross accounts receivable reflects the best estimate of probable losses inherent in the receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. At December 31, 2019 and 2018, the Company’s allowance for doubtful accounts was $529,252 and $540,048, respectively. Tax Receivables The Company pays Value Added Tax (“VAT”) or similar taxes (“input VAT”), income taxes, and other taxes within the normal course of its business in most of the countries in which it operates related to the procurement of merchandise and/or services it acquires and/or on sales and taxable income. The Company also collects VAT or similar taxes on behalf of the government (“output VAT”) for merchandise and/or services it sells. If the output VAT exceeds the input VAT, this creates a VAT payable to the government. If the input VAT exceeds the output VAT, this creates a VAT receivable from the government. The VAT tax return is filed on a monthly basis offsetting the payables against the receivables. In observance of EU regulations for intra-EU cross-border sales, our subsidiaries in Greece, SkyPharm and Cosmofarm, do not charge VAT for sales to wholesale drug distributors registered in other European Union member states. As of December 31, 2019 and 2018, the Company had a VAT net receivable balance of $136,891 and $729,790 respectively, recorded in the consolidated balance sheet as other assets. Inventory Inventory is stated at the lower-of-cost or net realizable value using the weighted average cost method on a first-in-first-out basis. Inventory consists primarily of finished goods and packaging materials, i.e. packaged pharmaceutical products and the wrappers and containers they are sold in. Inventory is replaced periodically to maintain the optimum stock on hand available for immediate shipment. The Company writes-down inventories to net realizable value based on physical condition, expiration date, current market conditions, as well as forecasted demand. The Company’s inventories are not highly susceptible to obsolescence. Many of the Company’s inventory items are eligible for return to our suppliers when pre-agreed product requirements, including, but not limited to, physical condition and expiration date, are not met. Property and Equipment, net Property and equipment are stated at cost, less accumulated depreciation. Depreciation is provided on a straight-line basis over the useful lives (except for leasehold improvements which are depreciated over the lesser of the lease term or the useful life) of the assets as follows: Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $201,000 and $34,623 for the years ended December 31, 2019 and December 31, 2018, respectively. Impairment of Long-Lived Assets In accordance with ASC 360-10, Long-lived Assets, which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. For the years ended December 31, 2019 and 2018, the Company had no impairment of long-lived assets. Goodwill and Intangibles, net The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. On December 19, 2018, as a result of the acquisition of Cosmofarm, the Company recorded $49,697 of goodwill. Intangible assets with definite useful lives are recorded on the basis of cost and are amortized on a straight-line basis over their estimated useful lives. The Company uses a useful life of 5 years for an import/export license. The Company evaluates the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the remaining amortization period. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset will be amortized prospectively over that revised remaining useful life. As of December 31, 2019, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $33,086 and $9,307 for the years ended December 31, 2019 and 2018, respectively. Equity Method Investment For those investments in common stock or in-substance common stock in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, the investment is accounted for under the equity method. The Company records its share in the earnings of the investee and is included in “Equity earnings of affiliate” in the consolidated statement of operations. The Company assesses its investment for other-than-temporary impairment when events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable and recognizes an impairment loss to adjust the investment to its then current fair value. Investments in Equity Securities Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2016-01, and accordingly, investments in equity securities are accounted for at fair value with changes in fair value recognized in net income. Equity securities are classified as short-term or long-term based on the nature of the securities and their availability to meet current operating requirements. Equity securities that are readily available for use in current operations are reported as a component of current assets in the accompanying consolidated balance sheets. Equity securities that are not considered available for use in current operations would be reported as a component of long-term assets in the accompanying consolidated balance sheets. For equity securities with no readily determinable fair value, the Company elects a measurement alternative to fair value. Under this alternative, the Company measures the investments at cost, less any impairment, and adjusted for changes resulting from observable price changes in transactions for identical or similar investments of the investee. The election to use the measurement alternative is made for each eligible investment. As of December 31, 2019, investments consisted of 3,000,000 shares, which traded at a closing price of $0.01 per share or a value of $33,000 of ICC International Cannabis Corp., 40,000 shares which traded at a closing price of $5.01 per share, or value of $200,290 of Diversa S.A. and 16,666 shares which traded at a closing price of $0.34 per share or value of $5,650 of National Bank of Greece. Additionally, the Company has $4,381 in equity securities of Pancreta bank, which are not publicly traded and recorded at cost. See Note 3, for additional investments in equity securities. Fair Value Measurement The Company applied FASB ASC 820, Fair Value Measurements and Disclosures, (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. The following table presents assets that are measured and recognized at fair value as of December 31, 2019 and 2018, on a recurring basis: December 31, 2019 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ 33,000 - - $ 33,000 Marketable securities – Divsersa S.A. 200,290 - - 200,290 Marketable securities – National Bank of Greece 5,650 - - 5,650 $ 238,940 $ 238,940 December 31, 2018 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ 2,500,000 - - $ 2,500,000 Marketable securities – Divsersa S.A. 210,790 - - 210,790 Marketable securities – National Bank of Greece 2,100 - - 2,100 $ 2,712,890 $ 2,712,890 FASB ASC 825-10-25 Fair Value Option, (“ASC 825-10-25”), expands opportunities to use fair value measurements in financial reporting and permits entities to choose to measure many financial instruments and certain other items at fair value. The Company did not elect the fair value options for any of its qualifying financial instruments. Customer Advances The Company receives prepayments from certain customers for pharmaceutical products prior to those customers taking possession of the Company’s products. The Company records these receipts as customer advances until it has met all the criteria for recognition of revenue including passing control of the products to its customer, at such point, the Company will reduce the customer and deposits balance and credit the Company’s revenues. Revenue Recognition The Company adopted the modified retrospective adoption in accordance with ASC 606, Revenue from Contracts with Customers, on January 1, 2018. The new guidance introduces a five-step model for recognizing revenue by applying the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the performance obligations are satisfied by transferring the promised goods to the customer. Once these steps are met, revenue is recognized upon delivery of the product. Adoption of ASC 606 has not changed the timing and nature of the Company’s revenue recognition and there has been no material effect on the Company’s consolidated financial statements. Stock-based Compensation The Company records stock-based compensation in accordance with ASC 718, Stock Compensation (“ASC 718”) and Staff Accounting Bulletin No. 107 (“SAB 107”) issued by the SEC in March 2005 regarding its interpretation of ASC 718. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the related requisite service period. The Company values any employee or non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASU 2018-07, Compensation-Stock Compensation. Foreign Currency Translations and Transactions Assets and liabilities of all foreign operations are translated at year-end rates of exchange, and the statements of operations are translated at the average rates of exchange for the year. Gains or losses resulting from translating foreign currency financial statements are accumulated in a separate component of stockholders’ equity until the entity is sold or substantially liquidated. Gains or losses from foreign currency transactions (transactions denominated in a currency other than the entity’s local currency) are included in net earnings. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash investments and accounts receivable. The following tables show the number of the Company’s clients which contributed 10% or more of revenue and accounts receivable, respectively: Year Ended December 31, Year Ended December 31, 2019 2018 Number of 10% clients 0 2 Percentage of total revenue n/a 26.49 % Percentage of total AR n/a 4.94 % Income Taxes The Company accounts for income taxes under the asset and liability method, as required by the accounting standard for income taxes ASC 740. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company is liable for income taxes in Greece and the United Kingdom of England. The corporate income tax rate is 29% in Greece (tax losses are carried forward for five years effective January 1, 2013) and 20% in United Kingdom of England. Losses may also be subject to limitation under certain rules regarding change of ownership. We regularly review deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if we do not consider it to be more likely than not that the deferred tax assets will be realized. Our review includes evaluating both positive (e.g., sources of taxable income) and negative (e.g., recent historical losses) evidence that could impact the realizability of our deferred tax assets. At December 31, 2019 the Company has maintained a valuation allowance against all net deferred tax assets in each jurisdiction in which it is subject to income tax. The Company periodically reviews the uncertainties and judgments related to the application of complex income tax regulations to determine in

ACQUISITION OF COSMOFARM, LTD.

ACQUISITION OF COSMOFARM, LTD.	12 Months Ended
	Dec. 31, 2019
ACQUISITION OF COSMOFARM, LTD.
NOTE 2 - ACQUISITION OF COSMOFARM, LTD.	On December 19, 2018, the Company completed the acquisition pursuant to the Cosmofarm SPA acquiring 100% of the outstanding shares of Cosmofarm, a pharmaceutical wholesaler based in Athens, Greece. Cosmofarm is a fully licensed wholesaler of pharmaceutical products and its primary activity is the sourcing, procuring, and distributing branded and generic medicines, over-the-counter (OTC) pharmaceuticals, food supplements, and medical devices. At closing, the Company acquired 100% of Cosmofarm’s outstanding shares and in exchange for a non-interest-bearing promissory note (See Note 11), due in one-year, in the amount of €200,000 ($227,000) (the “Acquisition”). The Company recognized cash of $307,590 acquired in the above acquisition. The Company recognized the remaining Cosmofarm assets acquired and liabilities assumed based upon the fair value of such assets and liabilities measured as of the date of acquisition. The aggregate purchase price for Cosmofarm has been allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the acquired net tangible assets represent the intangible assets, such Cosmofarm’s tradename and customer base. The remainder of the excess has been allocated to goodwill. The allocation of the purchase price of Cosmofarm as of December 31, 2018, is as follows: Allocation Current assets $ 6,882,286 Intangible assets 213,790 Other assets 1,519,345 Total assets acquired 8,615,421 Liabilities assumed: Accounts payable and other current liabilities 5,111,489 Advances from customers 1,192,600 Line of credit 1,900,388 Other liabilities 232,729 Total liabilities assumed 8,437,206 Net assets acquired 178,215 Consideration: Promissory note 227,912 Goodwill $ 49,697 The components of the acquired intangible assets were as follows: Amount Useful Life (Years) Trademark $ 36,997 5 Customer base 176,793 10 $ 213,790 -

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2019
INVESTMENTS
NOTE 3 - INVESTMENTS	Distribution and Equity Agreement On March 19, 2018, the Company entered into a Distribution and Equity Acquisition Agreement (the “Distribution and Equity Acquisition Agreement”) with Marathon Global Inc. (“Marathon”), a company incorporated in the Province of Ontario, Canada. Marathon was formed to be a global supplier of cannabis, cannabidiol (CBD) and/or any cannabis extract products, extracts, ancillaries and derivatives (collectively, the “Products”). The Company was appointed the exclusive distributor of the Products initially throughout Europe and on a non-exclusive basis wherever else lawfully permitted. The Company has no present intention to distribute any Products under this Agreement in the United States or otherwise participate in cannabis operations in the United States. The Company intends to await further clarification from the U.S. Government on cannabis regulation prior to determining whether to enter the domestic market. The Distribution and Equity Acquisition Agreement is to remain in effect indefinitely unless Marathon fails to provide Market Competitive (as defined) product pricing and Marathon has not become profitable within five (5) years of the agreement. The transaction closed on May 22, 2018 after the due diligence period, following which the Company received: (a) a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services; and (b) received cash of CAD $2,000,000, subject to repayment in common shares of the Company if it fails to meet certain performance milestones. The Company is entitled to receive an additional CAD $2,750,000 upon the Company’s receipt of gross sales of CAD $6,500,000 and an additional CAD $2,750,000 upon receipt of gross sales of CAD $13,000,000. The Company was also given the right to nominate one director to the Marathon board of directors. Since Marathon is a newly formed entity with no assets and no activity, the Company attributed no value to the 5 million shares in Marathon which was received as consideration for the distribution services. As described below, the Company exchanged the Marathon shares in May and July 2018. Share Exchange Agreements On May 17, 2018, the Company entered into a Share Exchange Agreement (the “SEA”) with Marathon, ICC International Cannabis Corp (“ICC”) formerly known as Kaneh Bosm Biotechnology Inc. (“KBB”) and certain other sellers of Marathon capital stock. Under the SEA, the Company transferred 2.5 million shares in Marathon to ICC, a corporation incorporated under the laws of the Province of British Columbia and a public reporting issuer on the Canadian Securities Exchange, in exchange for 5 million shares of ICC. The Company accounted for the exchange at fair value and recognized a gain on exchange of its investment in Marathon of $1,953,000 included in “Gains on exchange of equity investments” in the consolidated statements of operations. On July 16, 2018, the Company completed a Share Exchange Agreement (the “New SEA”) with Marathon, ICC, and certain other sellers of Marathon capital stock whereby the Company transferred its remaining one-half interest (2.5 million shares) in Marathon to KBB for an additional 5 million shares of ICC. The Company accounted for the exchange at fair value and recognized a gain on exchange of its investment in Marathon of $2,092,200 in the year ended December 31, 2018. The ten million shares of ICC owned by the Company constituted approximately 7% of the 141,219,108 shares of capital stock of KBB then issued and outstanding. The Company does not have the ability to exercise significant influence over ICC. The Company determined the fair value of both exchanges based on an actively quoted stock price of ICC received in exchange for the Marathon shares. The Company continues to fair value its investment in ICC with changes recognized in earnings each period and was recorded as an unrealized loss on exchange of investment during the year ended December 31, 2018 of $1,545,200 such that the net gain at the end of the period was $2,500,000. During the year ended December 31, 2019, the Company recorded an unrealized gain of $322,880 During the year ended December 31, 2019, the Company sold 7,000,000 shares for proceeds of $1,261,718. The realized losses on the equity securities sold during the year ended December 31, 2019, which are the difference between the proceeds from sales and the original cost, was $1,528,162. The value of the investments as of December 31, 2019 and 2018 was $33,000 and $2,500,000, respectively. Since no value was attributed to the 33 1/3% equity ownership interest in Marathon received as consideration for the distribution services, the Company would receive variable consideration in future for its services under the Distribution and Equity Acquisition Agreement, if certain milestones are achieved. Refer to Note 11 for the accounting associated with the cash of CAD $2 million received upfront. Variable consideration to be received in the future upon achieving the gross sales milestones described above, is constrained as the Company estimates that it is probable that a significant reversal of revenue could occur. In assessing the constraint, the Company considered its limited experience with the Products, new geographic markets and similar transactions, which affect the Company’s ability to estimate the likelihood of a probable revenue reversal. Therefore, no revenue has been recognized for the period ended December 31, 2019. The Company will continue to reassess variable consideration at each reporting period and update the transaction price when it becomes probable that a significant revenue reversal would not occur. As of December 31, 2019, in addition to the 3,000,000 ICC shares valued at $33,000, as noted above, marketable securities also consisted of the following: 40,000 shares, which traded at a closing price of $5.01 per share, or value of $200,290 of Diversa S.A. and 16,666 shares, which traded at a closing price of $0.34 per share or value of $5,651 of National Bank of Greece. The Company recorded a net unrealized loss on the fair value of these investments of $14,803 during the year ended December 31, 2019. In the following table, gains/losses on equity securities sold in the period reflect the difference between proceeds from sales and the fair value of the equity security sold at the beginning of the period or the purchase date, if later. The following table summarized the gains and losses recognized during the period ended December 31, 2019: Net gains and losses recognized during the period on equity securities $ (1,220,085 ) Less: Net gains and losses recognized during the period on equity securities sold during the period 158,282 Unrealized gains and losses recognized during the period on equity securities still held at the reporting date $ (1,061,803 ) CosmoFarmacy LP In June 2019, the Company entered into an agreement with an unaffiliated third party to incorporate CosmoFarmacy L.P. for the purpose of providing strategic management consulting services and the retail trade of pharmaceutical products, OTC and beauty products to pharmacies. CosmoFarmacy was incorporated with a 30-year term through May 31, 2049. The unaffiliated third party is the general partner (the “GP”) of the limited partnership and is responsible for management and decision-making associated with CosmoFarmacy. The initial share capital was set to EUR 150,000 which was later increased to EUR 500,000. The GP contributed the pharmacy license (the “License”) valued at EUR 350,000 (30-year term) to operate the business of CosmoFarmacy in exchange for a 70% equity ownership. The Company is a limited partner and contributed cash of EUR 150,000 for the remaining 30% equity ownership. CosmoFarmacy is not publicly traded and the Company’s investment has been recorded using the equity method of accounting. The value of the investment as of December 31, 2019, was $163,575. During the year ended December 31, 2019, the Company recognized a cash balance of $221,457 related to its acquisition of Cosmofarm. The cash was used to purchase the investment in CosmoFarmacy described above. Since the accounting for the acquisition of Cosmofarm was completed during the year ended December 31, 2018, the Company recognized the asset through earnings and is included in other income within the condensed consolidated statement of operations for the year ended December 31, 2019.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2019
PROPERTY, PLANT AND EQUIPMENT
NOTE 4 - PROPERTY, PLANT AND EQUIPMENT	Property, plant and equipment, net consists of the following at December 31: 2019 2018 Leasehold improvements $ 548,000 $ 369,437 Vehicles 115,055 117,402 Furniture, fixtures and equipment 1,439,839 1,167,798 Computers and software 85,052 55,169 2,187,946 1,709,806 Less: Accumulated depreciation (453,165 ) (284,174 ) Total $ 1,734,781 $ 1,425,632

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2019
INTANGIBLE ASSETS
NOTE 5 - INTANGIBLE ASSETS	Intangible assets consist of the following at December 31,: 2019 2018 License $ 50,000 $ 50,000 Trade name /mark 36,997 36,997 Customer Base 176,793 176,793 263,790 211,683 Less: Accumulated amortization (49,806 ) (16,720 ) Subtotal 213,984 247,070 Goodwill 49,697 49,697 Total $ 263,681 $ 296,767

CAPITAL STRUCTURE

CAPITAL STRUCTURE	12 Months Ended
	Dec. 31, 2019
CAPITAL STRUCTURE
NOTE 6 - CAPITAL STRUCTURE	Sale of Amplerissimo On September 29, 2018, Amplerissimo transferred its remaining 22% investment in SkyPharm to the Company for a purchase price of €2,200 ($2,528). The Company now holds 100% of the capital stock of SkyPharm. During the third quarter of fiscal 2018, management approved a plan to sell its Amplerissimo and its information technology business. Amplerissimo generated revenue of €5,747,947 ($7,639,022) in fiscal 2014 through agreements with two clients. These agreements have ten-year terms, with one having commenced on January 13, 2013, and another having commenced on May 14, 2013. As a result of the strong growth of our pharmaceutical business, Amplerissimo’s business has not been a priority for Cosmos and the Company has not pursued the continuation of further significant business activities in Amplerissimo after fiscal 2015. On September 30, 2018, the Company entered into a Share Purchase Agreement “SPA” with an unaffiliated third party. The Company sold 100% of the issued capital of its subsidiary, Amplerissimo, for a purchase price of €5,000 ($5,811), which was paid on October 12, 2018. The Company has recorded a gain on the sale of Amplerissimo of $146,647. A summary of the assets and liabilities that were disposed of in the sale of Amplerissimo is provided below: December 31, 2018 Cash and cash equivalents $ 683 Accounts receivable 13,421 Accounts payable and accrued expenses (8,775 ) Loans payable - related party (9,501 ) Taxes payable (1,423,674 ) Accumulated other comprehensive loss 1,287,010 Total liabilities extinguished (140,836 ) Proceeds due from sale of subsidiary (5,811 ) Gain on sale of Amplerissimo $ (146,647 ) Preferred Stock The Company is authorized to issue 100 million shares of preferred stock, which have liquidation preference over the common stock and are non-voting. As of December 31, 2019 and December 31, 2018, no preferred shares have been issued. Common Stock The Company is authorized to issue 300 million shares of common stock. As of December 31, 2019 and December 31, 2018, the Company had 13,225,387 and 13,878,772 shares of our common stock issued and 12,860,059 and 13,705,082 shares outstanding, respectively. On January 7, 2019 and February 5, 2019, 465,325 and 108,417, respectively, shares of common stock were cancelled, these shares were the remaining pre-delivery shares related to the convertible notes in Note 11. Purchase of Treasury Shares On December 19, 2017, the Company entered into a stock purchase agreement with an officer and director of the Company, whereby for consideration of €80,000 ($94,495) the Company will repurchase 20,000 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on December 19, 2017, the date of signing, however the Company is entitled to pay the full consideration in tranches until July 2018. As of December 31, 2017, the Company paid consideration of €28,000 ($33,073) and had an amount due to related party of €52,000 ($61,422). The shares were returned to the Company in February 2018. During the year ended December 31, 2018, the Company repaid the remaining balance of €52,000 ($63,446). The Company recorded a gain of $2,024 for the change in foreign currency related to this transaction. On June 18, 2018, the Company entered into a stock purchase agreement with an officer and director of the Company, whereby for consideration of €60,000 ($69,612) the Company repurchased 15,000 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on June 18, 2018, the date of signing, however the Company is entitled to pay the full consideration in tranches until November 2018. During the year ended December 31, 2018, the Company paid consideration of €60,000 ($69,178). The Company recorded a loss of $434 for the change in foreign currency related to this transaction. On November 30, 2018, the Company entered into a stock purchase agreement with an officer and director of the Company, whereby for consideration of $60,000, the Company repurchased 20,000 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on November 30, 2018, the date of signing, however the Company is entitled to pay the full consideration in tranches until August 2019. During the year ended December 31, 2018, the Company paid consideration of $11,317 and had a related party payable of $48,683. On February 5, 2019, the Company entered into a Stock Purchase Agreement (the “SPA”) with an institutional noteholder. The SPA provides for the Company’s purchase of 193,408 shares of the Company’s common stock at $3.00 per share or an aggregate of $580,224. Payment was scheduled over a five-month period, subject to acceleration if the Company effects an eligible equity offering. As of December 31, 2019, the Company had made $580,224 in payments. As of the date of this filing the 193,408 shares have been transferred back to the Company and cancelled. On February 18, 2019, the Company entered into a Stock Purchase Agreement (the “SPA”) with an institutional noteholder. The SPA provides for the Company’s purchase of 83,341 shares of the Company’s common stock at $3.00 per share or an aggregate of $250,023. Payment was scheduled over a five-month period, subject to acceleration if the Company effects an eligible equity offering. As of December 31, 2019, the Company had made $250,023 in payments. As of the date of this filing, 26,221 shares have been transferred back to the Company and subsequently cancelled. An additional 57,120 have been transferred to the Company, have not yet been cancelled and are recorded in treasury. On June 20, 2019, the Company entered into a stock purchase agreement with a former officer and director of Decahedron, whereby for consideration of $15,000, the Company repurchased 114,518 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on June 20, 2019, the date of signing. During the year ended December 31, 2019, the Company paid consideration of $15,000. Shares Issued for Services On May 25, 2017, the Company entered into a 20-month consulting agreement with a third-party advisory firm for consideration of 20,000 shares of the Company’s common stock. The stock was issued on May 25, 2017 and fair valued at $7.70 per share or $154,000, which will be amortized over the length of the agreement. During the year ending December 31, 2017, the Company recorded $56,138 in consulting expense related to this agreement. During the year ended December 31, 2018, an additional $92,299 in consulting expense was recorded. Potentially Dilutive Securities On January 1, 2018, the Company granted 25,000 options to an employee of the Company as compensation for being appointed the International Finance Manager of the Company. The options have an exercise period of four years with an exercise price of $1.00 per share. In the event that he ceases to work for the Company for any reason, he will be entitled to a pro rata portion of the annual options. The options vest monthly with 25,000 options fully vested as of December 31, 2018 (See Note 16). No options warrants or other potentially dilutive securities other than those disclosed above have been issued as of December 31, 2019.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
NOTE 7 - INCOME TAXES	The domestic and foreign components of loss before provision for income taxes were as follows: 12/31/2019 12/31/2018 Domestic $ (2,515,360 ) $ (8,731,677 ) Foreign (600,790 ) (311,655 ) $ (3,116,150 ) $ (9,043,332 ) The components of the provision for income taxes are as follows: 12/31/2019 12/31/2018 Current tax provision Federal $ - $ - State - - Foreign 182,815 17,326 Total current tax provision $ 182,815 $ 17,326 Deferred tax provision Domestic $ - $ - State - - Foreign Total deferred tax provision $ - $ - Total current provision $ 182,815 $ 17,326 The reconciliation of income tax expense computed at the U.S. federal statutory rate to the income tax provision for the years ended December 31, 2019 and 2018 is as follows: 12/31/2019 12/31/2018 US Loss before income taxes $ (3,116,150 ) $ (8,731,677 ) Taxes under statutory US tax rates $ (654,391 ) $ (1,833,652 ) Increase (decrease) in taxes resulting from: Increase in valuation allowance $ 1,521,175 $ 554,452 Foreign tax rate differential $ 9,028 $ 164,394 Permanent differences $ 94,520 $ 1,628,906 Purchase price adjustments $ - $ 25,202 Prior period adjustments $ (713,466 ) $ (375,828 ) State taxes $ (74,051 ) $ (146,148 ) Income tax expense $ 182,815 $ 17,326 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities consist of the following: 12/31/2019 12/31/2018 Net operating loss carryforward $ 1,270,650 $ 904,877 Capital loss carryforward 801,744 - Nonqualified stock options 184,545 187,513 Accrued expenses 7,389 - Depreciation 2,418 1,602 Mark to market adjustment in securities 348,422 - Total deferred tax assets 2,615,168 1,093,992 Intangibles (10,729 ) (10,729 ) Goodwill (14,473 ) (14,473 ) Total deferred tax liabilities (25,202 ) (25,202 ) Valuation allowance (2,589,966 ) (1,068,790 ) Net deferred tax assets (liabilities) $ - $ - At December 31, 2019, the Company had U.S. net operating loss carry forwards of approximately $3,817,475 that may be offset against future taxable income, subject to limitation under IRC Section 382. Of the $3.8 million of Federal net operating loss carryforwards, $2.5 million begin to expire in 2031. The remaining balance of $1.3 million is limited in annual usage of 80% of current year’s taxable income, but do not have an expiration. At December 31, 2019, the Company had United Kingdom net operating loss carry forwards of approximately $1 million that may be offset against future taxable income part or all of which may not be available to offset our future taxable income in the United Kingdom should there be a change in the nature or conduct of our business in the United Kingdom within the three years subsequent to the date of our acquisition of Decahedron. No tax benefit has been reported in the December 31, 2019 or 2018 consolidated financial statements due to the uncertainty surrounding the realizability of the benefit, based on a more likely than not criteria and in consideration of available positive and negative evidence. The Company has not recorded a non-cash interest expense deferred tax asset and is currently assessing its realizability. Upon completion of the analysis, deferred tax assets will be adjusted accordingly. The Company applied the “more-likely-than-not” recognition threshold to all tax positions taken or expected to be taken in a tax return, which resulted in no unrecognized tax benefits as of December 31, 2019 and December 31, 2018, respectively.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
NOTE 8 - RELATED PARTY TRANSACTIONS	On the date of our inception, we issued 2 million shares of our common stock to our three officers and directors which were recorded at no value (offsetting increases and decreases in common stock and additional paid-in capital). Doc Pharma S.A. As of December 31, 2019, the Company has a prepaid balance of €2,181,780 ($2,449,484) and an accounts payable balance of €22,576 ($25,346), resulting in a net prepaid balance of €2,158,434 ($2,424,138) to Doc Pharma S.A. related to purchases of inventory. Additionally, the Company has a receivable balance of €546,240 ($613,264),.As of December 31, 2018, the Company had a prepaid balance of €1,867,239 ($2,139,109) and an accounts payable balance of €31,514 ($36,103), resulting in a net prepaid balance of €1,835,725 ($2,103,006) to Doc Pharma S.A., related to purchases of inventory. Additionally, the Company has a receivable balance and €38,323 ($43,903). During the years ended December 31, 2019 and 2018, the Company has purchased a total of €3,095,163 ($3,464,725) and €4,596,227 ($5,431,361) of products from Doc Pharma, respectively. During the years ended December 31, 2019 and 2018 the Company had €779,919 ($873,041) and €201,645 ($238,284) revenue from Doc Pharma, respectively. Doc Pharma S.A is considered a related party to the Company due to the fact that the CEO of Doc Pharma is the wife of Grigorios Siokas, the Company’s CEO and principal shareholder, who also served as a principal of Doc Pharma SA in the past. Medihelm S.A As of December 31, 2019, the Company had a prepaid balance of €3,109,147 ($3,490,639) and an accounts payable balance of £39,818 ($52,500) and €143,393 ($160,987), resulting in a net prepaid balance of $3,277,152 to Medihelm S.A. related to purchases of inventory. Additionally, the Company has a receivable balance of €1,163,070 ($1,305,779). As of December 31, 2018, the Company has a prepaid balance of €2,459,805 ($2,817,953) and an accounts payable balance of £42,065 ($53,566), resulting in a net prepaid balance of $2,764,387 to Medihelm S.A. related to purchases of inventory. Additionally, the Company has a receivable balance of €127,292 ($145,826). During the years ended December 31, 2019 and 2018, SkyPharm purchased €2,332,755 ($2,611,286) and €9,564,899 ($11,302,842) of products from Medihelm, respectively, and Decahedron purchased $0 and £718,050 ($958,454) of products from Medihelm, respectively. During the years ended December 31, 2019 and 2018, SkyPharm had revenue of €945,074 ($1,057,916) and €1,055,435 ($1,247,208) from Medihelm, respectively. Medihelm S.A. is considered a related party to the Company due to the fact that the managing director of Medihelm is the mother of Nicholaos Lazarou, who was the managing director of the Company’s UK subsidiary, Decahedron through June 2019. Nicholaos Lazarou Following the acquisition of Decahedron, Nicholaos Lazarou was the managing director of the Company’s UK subsidiary until June 30, 2019. On December 19, 2017, the Company entered into a stock purchase agreement with an officer and director of the Company, whereby for consideration of €80,000 ($94,495) the Company purchased 20,000 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on December 19, 2017, the date of signing, however the Company is entitled to pay the full consideration in tranches until July 2018. As of December 31, 2017, the Company has paid consideration of €28,000 ($33,073) and had an amount due to related party of €52,000 ($61,422) recorded as accounts payable related party as of December 31, 2017. The shares were returned to the Company in February 2018. During the year ended December 31, 2018, the Company repaid the remaining balance of €52,000 ($61,448) and had an amount due to related party of €0 ($0) as of December 31, 2018. On June 18, 2018, the Company entered into a stock purchase agreement with an officer and director of the Company, whereby for consideration of €60,000 ($69,912) the Company repurchased 15,000 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on June 18, 2018, the date of signing, however the Company is entitled to pay the full consideration in tranches until November 2018. During the year ended December 31, 2018, the Company paid consideration of €60,000 ($70,902) and has an amount due to related party of €0 ($0) as of December 31, 2018. On November 30, 2018, the Company entered into a stock purchase agreement with Nicholaos Lazarou, whereby for consideration of $60,000 the Company repurchased 20,000 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on November 30, 2018, the date of signing, however, the Company was entitled to pay the full consideration in tranches until August 2019. As of December 31, 2018, the Company had an amount due to related party of $48,683. During the year ended December 31, 2019, the Company repaid the remaining balance in the amount of $48,683. On June 20, 2019, the Company entered into a stock purchase agreement with Nicholaos Lazarou whereby for consideration of $15,000, the Company repurchased 114,518 shares of its common stock. As per the agreement, the sale and transfer of the shares occurred on June 20, 2019, the date of signing. During the year ended December 31, 2019, the Company paid the $15,000 in consideration in full. Notes Payable – Related Party A summary of the Company’s related party notes payable during the years ended December 31, 2019 and 2018 is presented below: 2019 2018 Beginning Balance $ 1,793,437 $ 97,979 Transfer of third-party debt - 1,718,400 Payments (382,055 ) (18,330 ) Foreign currency translation (35,850 ) (4,612 ) Ending Balance $ 1,375,532 $ 1,793,437 Grigorios Siokas On December 20, 2018, the €1,500,000 ($1,718,400) note payable, originally borrowed pursuant to a Loan Agreement with a third-party lender, dated March 16, 2018, was transferred to Grigorios Siokas. The note bears an interest rate of 4.7% per annum and has a maturity date of March 18, 2019. As of December 31, 2018, the Company has an outstanding principal balance of €1,500,000 ($1,718,400) and accrued interest of €55,631 ($63,371). During the year ended December 31, 2019, the Company repaid €300,000 ($336,810) and as of December 31, 2019, the Company had an outstanding principal balance of €1,200,000 ($1,347,240) and accrued interest of €144,207 ($128,447). Grigorios Siokas is the Company’s CEO and principal shareholder. Dimitrios Goulielmos On November 21, 2014, the Company entered into an agreement with Dimitrios Goulielmos, as amended on November 4, 2016. Pursuant to the amendment, this loan is non-interest bearing. During the year ended December 31, 2018, the Company repaid €16,000 ($18,330) and a principal balance of €53,500 ($61,290) remained as of December 31, 2018. During the year ended December 31, 2019, the Company repaid €40,300 ($45,245) and a principal balance of €13,200 ($14,820) remained as of December 31, 2019. Dimitrios Goulielmos is a current director and former CEO of the Company. DOC Pharma On November 1, 2015, the Company entered into a €12,000 ($12,662) Loan Agreement with Doc Pharma S.A, pursuant to which Doc Pharma S.A., paid existing bills of the Company in the amount of €12,000 ($12,662), excluding the Vendor Bills. The loan bears an interest rate of 2% per annum and was due and payable in full on October 31, 2016. As of December 31, 2018, the Company has an outstanding principal balance under this note of €12,000 ($13,747) and accrued interest expense of $836. As of December 31, 2019, the Company has an outstanding principal balance of €12,000 ($13,472) and accrued interest expense of $1,100. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the years ended December 31, 2019 and 2018 the Company recorded losses of $35,850 and $4,612, respectively. Loans Payable – Related Party A summary of the Company’s related party loans payable during the years ended December 31, 2019 and 2018 is presented below: 2019 2018 Beginning Balance $ 1,775,251 $ 7,213 Proceeds 585,915 2,408,965 Payments (262,226 ) (631,166 ) Conversion of debt (1,050,000 ) - Disposal of subsidiary - (9,501 ) Reclassification of receivable 2,547 - Foreign currency translation (25,223 ) (260 ) Ending Balance $ 1,026,264 $ 1,775,251 Grigorios Siokas On October 1, 2016, the Company borrowed €5,000 ($5,276) as a loan payable from Grigorios Siokas. The loan is non-interest bearing and had a maturity date of October 1, 2017. During the year ending December 31, 2017, the Company borrowed an additional €1,000 ($1,202). On September 30, 2018, the debt, amounting to €6,000 ($6,973) was transferred to the third-party purchaser of Amplerissimo pursuant to the Share Purchase Agreement. As of December 31, 2018, the Company had an outstanding principal balance of $0 and no accrued interest under this loan. During the year ended December 31, 2018, the Company borrowed €1,622,700 ($1,858,965) and $382,000 of loans payable from Grigorios Siokas and repaid €269,000 ($308,166) and $155,000 of these loans. These loans are non-interest bearing and have no maturity dates. As of December 31, 2018, the Company had an outstanding principal balance of $1,777,799, consisting of €1,353,700 ($1,550,799) and $227,000, in loans payable to Grigorios Siokas. During the year ended December 31, 2019, the Company borrowed total additional proceeds of $585,914, repaid €233,567 ($262,226) of these loans and converted $1,050,000 of these loans into 140,001 shares of common stock at a conversion rate of $7.50 per share. These loans are non-interest bearing and have no maturity dates. As of December 31, 2019, the Company had an outstanding principal balance under these loans of $1,026,264 consisting of €297,314 ($303,502) and $722,762, in loans payable to Grigorios Siokas. On May 28, 2019, the Company entered into a Debt Exchange Agreement with Grigorios Siokas. The agreement provided for the issuance by the Company of 66,667 shares of common stock, at the rate of $7.50 per share, or an aggregate of $500,000, in exchange for $500,000 of existing loans by Mr. Siokas to the Company. The Company valued this transaction at fair value and recorded a $259,999 gain on extinguishment of related party debt to additional paid-in capital. On June 24, 2019, the Company entered into a Debt Exchange Agreement with Grigorios Siokas. The agreement provided for the issuance by the Company of 73,334 shares of common stock, at the rate of $7.50 per share, or an aggregate of $550,000, in exchange for $550,000 of existing loans by Mr. Siokas to the Company. The Company valued this transaction at fair value and recorded a $269,126 gain on extinguishment of related party debt to additional paid-in capital. Ourania Matsouki During the year ended December 31, 2016, the Company borrowed €44,995 ($47,479) from Mrs. Matsouki, Grigorios Siokas’ wife and CEO of Doc Pharma. During the year ended December 31, 2017, the Company borrowed an additional €55,000 ($66,121). These loans have no formal agreement and bear no interest. As of December 31, 2017, the Company paid back the outstanding balance of €99,995 ($120,214) of these loans. During the year ended December 31, 2018, the Company borrowed an additional €30,000 ($34,368). As of December 31, 2018, the Company has paid back the outstanding balance of €30,000 ($34,368) of these loans. Konstantinos Vassilopoulos During the year ended December 31, 2018, the Company borrowed and repaid an aggregate of $168,000 to Konstantinos Vassilopoulos, the Company’s former U.S. Finance manager and current Administrative Officer. These loans have no formal agreement and bear no interest. As of December 31, 2018, an outstanding principal balance of $0 and $0 accrued interest remained. The above balances are adjusted for the foreign currency rate as of the balance sheet date. For the years ended December 31, 2019 and 2018 the Company recorded $25,223 and $260, respectively. Except as set forth above, we have not entered into any material transactions with any director, executive officer, and promoter, beneficial owner of five percent or more of our common stock, or family members of such persons.

LINES OF CREDIT

LINES OF CREDIT	12 Months Ended
	Dec. 31, 2019
LINES OF CREDIT
NOTE 9 - LINES OF CREDIT	A summary of the Company’s lines of credit during the years ended December 31, 2019 and 2018 is presented below: 2019 2018 National $ 1,940,045 $ 766,575 Alpha 810,947 461,178 Eurobank - 286,829 Total $ 2,750,992 $ 1,514,582 The line of credit with National Bank of Greece is being renewed annually with current interest rates of 6.00% and 4.35% on certain lines of credit. The maximum borrowing allowed was $1,684,050 and $1,374,720 at December 31, 2019 and 2018, respectively for the 6.00% line of credit. The maximum borrowing allowed was $1,122,700 at December 31, 2019 for the 4.35% lines of credit. The outstanding balance was $1,940,045 and $766,575 at December 31, 2019 and 2018, respectively. The line of credit with Alpha Bank of Greece is renewed annually with a current interest rate of 6.00%. The maximum borrowing allowed was $1,122,700 and $687,360 at December 31, 2019 and 2018, respectively. The outstanding balance was $810,947 and $461,179 at December 31, 2019 and 2018, respectively. The line of credit with Eurobank of Greece had an interest rate of 8.55% and a maximum borrowing allowed of $572,800 at December 31, 2018. The outstanding balance was $286,829 at December 31, 2018 and was paid back in full during the year ended December 31, 2019. Interest expense for the year ended December 31, 2019 and 2018, was $85,090 and $32,275, respectively. Under the agreements, the Company is required to maintain certain financial ratios and covenants. These lines of credit were assumed in the Company’s acquisition of Cosmofarm. During the years ended December 31, 2019 and 2018, the Company was in compliance with these ratios and covenants.

CONVERTIBLE DEBT

CONVERTIBLE DEBT	12 Months Ended
	Dec. 31, 2019
CONVERTIBLE DEBT
NOTE 10 - CONVERTIBLE DEBT	A summary of the Company’s convertible debt during the years ended December 31, 2019 and 2018 is presented below: 2019 2018 Beginning balance notes 365,513 3,110,714 New notes 1,500,000 2,233,332 Exchange agreement and debt modification - 344,570 Payments (365,513 ) (3,557,381 ) Conversions - (1,765,721 ) Subtotal notes 1,500,000 365,513 Debt discount at year end (29,509 ) (229,713 ) Note payable net of discount 1,470,491 135,800 November 15, 2017 Securities Purchase Agreement On November 15, 2017, the Company entered into a Securities Purchase Agreement with institutional investors (the “Buyers”), pursuant to which the Company issued on November 16, 2017 for a purchase price of $3,000,000, $3,350,000 in aggregate principal amount of Senior Convertible Notes (the “Existing Notes”) to the Buyers, convertible into approximately 670,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”) at $5.00 per share and five-year warrants (the “Warrants”) to purchase an aggregate of 536,000 shares of Common Stock exercisable at $7.50 per share. The Notes contained an original issue discount of $350,000. Of the $3,000,000 purchase price, $240,000 went directly to financing costs (see below) and $74,000 went directly to legal fees such that the Company received net proceeds of $2,686,000. On February 20, 2018, the Company entered into two separate Amendment and Exchange Agreements (“Exchange Agreements”) with the Buyers for new senior convertible notes (“New Notes”) in exchange for existing notes. Each New Note is identical in all material respects to the Existing Note, except that (i) the New Note was not convertible into shares of the Company’s common stock (the “Common Stock”) until April 20, 2018; (ii) all future cash installment payments under such New Note will be made at a redemption price equal to 112% of the applicable installment amount; (iii) the Company’s existing obligation to initially deliver pre-delivery shares of its common stock to the holder of such New Note was deferred until April 20, 2018; and (iv) at any time on or before June 20, 2018, the Company had the right, at its option, to redeem all, or any part, of the amounts then outstanding under such New Note in cash at a redemption price equal to 125% of such amounts then outstanding under such New Note. The Company will repay the principal amount of the Notes in equal monthly installments beginning on January 1, 2018 and repeating on the first business day of each calendar month thereafter until the fourteenth (14th) month anniversary date of issue. On September 26, 2018, the Company entered into a second amendment which extended the maturity dates of the notes to February 1, 2019. On April 24, 2018, 670,001 pre-delivery shares were issued. On January 7, 2019 and February 5, 2019, 465,625 and 108,417 pre-delivery shares, respectively, were cancelled upon full payment of both notes. Eighty-five (85%) percent of any cash proceeds received by the holders of the Notes from the sale of pre-delivery shares issued as collateral shall be applied against the particular installment amount then due. The Notes are senior in right of payment to all existing and future indebtedness except Permitted Indebtedness which includes $12 million of senior secured indebtedness of the Company and its subsidiaries under the above described Synthesis loan agreements, plus a defined amount of purchase money indebtedness in connection with bona fide acquisitions. The Company evaluated the debt modification in accordance with ASC 470-50 and concluded that the debt qualified for debt extinguishment as the 10% cash flow test was met. As a result, the Existing Notes were written off and the New Notes were recorded at fair value as of February 20, 2018. The Company wrote off the remaining principal balance of $2,871,429 of the Existing Notes along with the remaining $2,596,838 of debt discounts related to the Existing Notes of which $1,140,711 was a reduction to additional paid-in-capital representing the intrinsic value of the existing beneficial conversion feature. The Company recorded the New Notes in the amount of $3,216,000 and a total debt discount of $3,216,000 in relation to the intrinsic value of the new beneficial conversion feature of $2,880,000 and an original issue discount of $336,000. This resulted in a net loss on extinguishment of debt in the amount of $1,464,698 and additional net equity related to the beneficial conversion feature of $1,739,289. The New Notes were not convertible until April 18, 2018 pursuant to the February 20, 2018 amendment. Beginning April 20, 2018, the Holder may convert the New Notes into shares of Common Stock at the rate of $5.00 per share. In the event of an issuance of Common Stock for a consideration less than the Conversion Price (other than Excluded Securities, as defined) the Conversion Price shall be reduced to the price of the dilutive issuance, (the “Conversion Price”). Upon an Event of Default (as defined), the Buyers may convert at an alternative conversion price equal to the lower of the then applicable Conversion Price or seventy-five (75%) percent of the Volume-Weighted Average Price (as defined, the “VWAP”). The Company valued the beneficial conversion feature of the Existing Notes at intrinsic value and recorded $1,140,711 to debt discount, of which $405,743 was amortized through February 19, 2018. On February 20, 2018, the remaining debt discount was written off and the Company recorded a new debt discount as discussed above. On December 12, 2018, the Company entered into a Third Amendment and Exchange Agreement (“Third Exchange Agreement”) with the Buyers whereby the existing 536,000 warrants issued to such investors in connection with the November 15, 2017 Securities Purchase Agreement were retired in exchange for 727,683 new warrants. Additionally, the investors agreed to convert $1,333,333 of the debt related to the September 4, 2018 Securities Purchase Agreement at a reduced conversion price of $3.478. The Company issued those 383,363 shares on December 13, 2018. The Third Exchange agreement was considered to be an inducement to conversion and accounted for in accordance with ASC 470-20. Accordingly, the Company recorded a modification expense of $1,778,952 for the year ended December 31, 2018. The modification expense was based on the change in the fair value of the warrants and conversion feature before and after the modification using the Black-Scholes option-pricing model on the date of the modification using the following assumptions: pre-modification: post-modification The Warrants have a five-year term and are exercisable into 536,000 shares of Common Stock beginning May 16, 2018, which was six months after the issue date. The Warrants are exercisable at $7.50 per share subject to full ratchet anti-dilution protection. As of September 30, 2019, there were no anti-dilution trigger events. The Warrants will be exercisable on a cashless basis if a registration statement is not effective covering the resale of the underlying Warrant Shares. The Company calculated the warrants at relative fair value of $1,545,288, which was recognized as a discount to the Existing Notes of which $347,418 was amortized as interest expense through February 19, 2018. On February 20, 2018, the remaining balance was reversed due to the Exchange Agreement as discussed above. Conversion of the New Notes were and exercise of the Warrants are subject to a blocker provision which prevents any holder from converting or exercising, as applicable, the New Notes or the Warrants, into shares of Common Stock if its beneficial ownership of the Common Stock would exceed 4.99% (subject to adjustment not to exceed 9.99%) of the Company’s issued and outstanding Common Stock (each, a “Blocker”). The Company filed, within thirty (30) days of the Closing, a registration statement covering one hundred fifty (150%) percent of the maximum number of shares, underlying the New Notes and Warrants pursuant to a registration rights agreement with the Buyers (the “Registration Rights Agreement”). The Post-Effective Amendment to the registration statement (No. 333-222061) was declared effective on May 14, 2018. As a condition to the closing of the Financing, each Buyer, severally, was required to execute a leak-out agreement (each, a “Leak-Out Agreement”) restricting such Buyer’s sale of shares of Common Stock underlying the New Notes and Warrants on any Trading Day to not more than such Buyer’s pro rata allocation of the greater of (x) sales with net proceeds of an aggregate of $20,000 or (y) twenty-five (25%) percent of the daily average trading volume of the Company’s Common Stock. If after the closing of the Financing there is no Event of Default under the New Notes, the VWAP of the Company’s Common Stock for three (3) trading days is less than $1.50 per share, the Company may further restrict the Buyers from selling at less than $1.50 per share; provided that the portion of the New Notes subject to redemption on each Installment Date shall thereafter double. On November 15, 2017, in connection with the $3,350,000 Securities Purchase Agreement, Roth Capital Partners, LLC (“Roth”), as the Company’s exclusive placement agent, received a cash commission for the transaction equal to eight (8%) percent of the total gross proceeds of the offering, or $240,000 and the issuance of five-year warrants to purchase eight (8%) percent of the shares of common stock issued or issuable in this offering (excluding shares of common stock issuable upon exercise of any warrants issued to investors), or 53,600 shares; and, will receive eight (8%) percent of any cash proceeds received from the exercise of any warrants sold in the offering with an expiration equal to or less than twenty-four (24) months. The warrants are exercisable six months after the issue date or May 16, 2018 and were valued at a fair value of $386,003 which was fully expensed during the year ended December 31, 2017. The $240,000 cash commission was recorded as debt discount and was amortized over the term of the New Notes. During the year ended December 31, 2018, there were principal conversions in the amount of $432,419 and the Company repaid principal on the New Notes in the amount of $2,680,000, such that the remaining outstanding principal balance of the New Notes as of December 31, 2018 was $103,610. The Company repaid this remaining balance in the year ended December 31, 2019. The Company recorded a total of $3,350,000 of debt discounts related to the above Existing Notes in the year ended December 31, 2017. A total of $360,890 was amortized during the year ended December 31, 2017 and an additional $392,272 related to the debt discount of the Existing Notes was amortized through February 19, 2018. As a result of the Exchange Agreement discussed above, the debt discounts of the Existing Notes were written off and a total of $3,216,000 of debt discounts were recorded during the year ended December 31, 2018. The debt discounts are being amortized over the term of the debt. Amortization of the debt discounts of the New Notes for the year ended December 31, 2018 was $3,170,386. The additional $45,613 was amortized in the year ended December 31, 2019. September 4, 2018 Securities Purchase Agreement On September 4, 2018, the Company entered into a Securities Purchase Agreement with two institutional investors (the “Buyers”) pursuant to which the Company issued for a purchase price of $2,000,000, $2,233,333 in aggregate principal amount of Senior Convertible Notes (the “September 2018 Notes”) to the Buyers, convertible into 372,223 shares of the Company’s common stock, par value $.001 per share at $6.00 per share (with the exception of the conversion related to the Third Exchange Agreement), and warrants to purchase an aggregate of 357,334 shares of Common Stock exercisable at $7.50 per share (the “Warrants”). The Notes contained an original issue discount of $233,332. Of the $2,000,000 purchase price, $140,000 went directly to financing costs (see below) and $15,000 went directly to legal fees such that the Company received net proceeds of $1,845,000. The September 2018 Notes provide that the Company will repay the principal amount of Notes in equal monthly installments including a 5% installment fee, which is recorded as interest expense, beginning on November 1, 2018 and repeating on the first business day of each calendar month thereafter until May 1, 2019. During the year ended December 31, 2018, the Company recorded $31,905 in installment fees. During the year ended December 31, 2019, the Company recorded $13,097 in installment fees. The Notes were convertible at any time by the Holder into shares of Common Stock at the rate of $6.00 per share (with the exception of the conversion pursuant to the Third Exchange Agreement described below), subject to full ratchet anti-dilution adjustment (the “Conversion Price”). According to the original terms of the agreement, the Company was to pre-deliver up to 372,222 shares of common stock to the Buyers. Eighty-five percent (85%) of any cash proceeds received by the Buyers from the sale of the Pre-Delivery Shares would then be applied against the particular installment amount due on such Installment Date under the Note. The Company had three months to deliver the Pre-Delivery shares, however the debt was repaid prior to the opportunity to deliver those shares. The Registration Statement (No. 333-227813) covering 150% of the number of shares underlying the Notes and warrants was declared effective on November 1, 2018. Upon an Event of Default (regardless of whether such event has been cured), the Buyers may convert at an alternative conversion price equal to the lower of the then applicable Conversion Price or seventy-five (75%) percent of the then Volume-Weighted Average Price (as defined, the “VWAP”). The Company valued the beneficial conversion feature of the Existing Notes at intrinsic value and recorded $934,922 to debt discount, which will be amortized over the life of the Notes. The Warrants are exercisable into 357,334 shares of Common Stock equal to eighty (80%) percent of the number of shares of common stock the Buyers would receive if the Notes were fully converted (at an assumed price of $5.00 per share) upon the date of issuance of the Notes. The Warrants are exercisable at $7.50 per share for a five-year term commencing March 4, 2019 subject to full ratchet anti-dilution protection. The Warrants will be exercisable on a cashless basis if a registration statement is not effective covering the resale of the underlying Warrant Shares. The Company calculated the warrants at relative fair value of $910,078, which was recognized as a discount to the Notes and is being amortized as interest expense over the remaining term of the Notes. Conversion of the Notes were and exercise of the Warrants are each subject to a blocker provision which prevents any holder from converting or exercising, as applicable, the Notes or the Warrants, into shares of common stock if its beneficial ownership of the common stock would exceed 9.99% of the Company’s issued and outstanding common stock (a “Blocker”). As a condition to the closing of the Financing, each Buyer executed a leak-out agreement which replaced the leak-out agreements entered into in November 2017 (each, a “Leak-Out Agreement”) restricting such Buyer’s sale of shares of common stock underlying the Notes and Warrants on any trading day to not more than such Buyer’s pro rata allocation of the greater of (x) sales with net proceeds of an aggregate of $20,000 or (y) twenty-five (25%) percent of the daily average trading volume of the Company’s Common Stock. If after the closing of the Financing the VWAP of the Company’s common stock for three (3) trading days is less than $1.50 per share, the Company may further restrict the Buyers from selling at less than $1.50 per share; provided that the portion of the Notes subject to redemption on each Installment Date shall thereafter double. Roth Capital Partners, LLC (“Roth”), as the Company’s exclusive placement agent, received a cash commission for this transaction equal to seven (7%) percent of the total gross proceeds of the offering, or $140,000, and the issuance of five-year warrants to purchase seven (7%) percent of the shares of common stock issued or issuable in this offering (excluding shares of Common Stock issuable upon exercise of any Warrants issued to investors), or 26,056 shares; and will receive seven (7%) percent of any cash proceeds received from the exercise of any Warrants sold in the offering with an expiration equal to or less than twenty-four (24) months. The warrants are exercisable six months after the issue date or March 4, 2019, at $6.00 per share and were valued at a fair value of $157,969 which was fully expensed during the year ended December 31, 2018. The $140,000 cash commission was recorded as debt discount and will be amortized over the term of the Notes. During the year ended December 31, 2018 there were principal conversions in the amount of $1,333,333 at a conversion price of $3.478 pursuant to the Third Exchange Agreement and the Company repaid principal of $638,095, such that the remaining outstanding principal balance of the Notes as of December 31, 2018 was $261,903. During the year ended December 31, 2019, the Company repaid the remaining principal balance in the amount of $261,903, such that the remaining outstanding principal balance of the Notes as of December 31, 2019 is zero. The Company recorded a total of $2,233,332 of debt discounts related to the above Notes during the year ended December 31, 2018. The debt discounts are being amortized over the term of the debt. Amortization of the debt discounts for the year ended December 31, 2018 was $2,049,232. As a result of the final payment of the Notes, the remaining debt discount of $184,100 was amortized during the year ended December 31, 2019. Securities Purchase Agreement executed on May 15, 2019 On May 15, 2019, the Company entered into a Securities Purchase Agreement with an institutional investor (the “Buyer”). Upon the closing of this financing, on May 17, 2019, the Company issued for a purchase price of $1,500,000 in principal amount a Senior Convertible Note (the “May 2019 Note”) to the Buyer. The May 2019 Note provides that the Company will repay the principal amount of the May 2019 Note on or before March 15, 2020. On March 23, 2020, the maturity date was amended to September 16, 2020 (See Note 16). Interest at the rate of nineteen (19%) percent per annum shall be payable on the first day of each calendar month. The May 2019 Note is convertible at any time by the Holder into 250,000 shares of common stock, par value $0.001 per share at the rate of $6.00 per share, subject to adjustment (the “Conversion Price”). Upon an Event of Default (regardless of whether such event has been cured), the Buyer may convert at an alternative conversion price equal to the lower of the then applicable Conversion Price or seventy-five (75%) percent of the then Volume-Weighted Average Price (as defined, the “VWAP”). The Company considered the need for the conversion feature to be bifurcated under ASC 815 and determined that it does not meet the requirements. Additionally, the Company determined the effective conversion rate under ASC 470-20 and determined that the instrument is out of the money and no beneficial conversion feature was recorded. The May 2019 Note is senior in right of payment to all other existing and future indebtedness of the Company except Permitted Senior Indebtedness (as defined in the May 2019 Note), including $12 million of senior secured indebtedness of the Company and its subsidiaries under an existing senior loan agreement, plus defined amounts of purchase money indebtedness in connection with bona fide acquisitions. The May 2019 Note includes customary Events of Default and provides that the Buyer may require the Company to redeem (regardless of whether the Event of Default has been cured) all or a portion of the Note at a redemption premium of one hundred twenty-five (125%) percent, multiplied by the greater of the conversion rate and the then current market price. The Buyer may also require redemption of the May 2019 Note upon a Change of Control (as defined) at a premium of one hundred twenty-five (125%) percent. The Company has the right to redeem the May 2019 Note at any time, in whole or in part, in cash at a price equal to 120% of the then outstanding conversion amount. Conversion of the May 2019 Note is subject to a blocker provision which prevents any holder from converting the May 2019 Note into shares of common stock if its beneficial ownership of the common stock would exceed 9.99% of the Company’s issued and outstanding common stock. As of December 31, 2019, the Company had a principal balance $1,500,000 on the May 2019 Note and the Company had accrued $25,334 in interest expense. Roth Capital Partners, LLC (“Roth”), as the Company’s exclusive placement agent, received a cash commission for this transaction equal to six (6%) percent of the total gross proceeds of the offering. This 6% fee or $90,000 was recorded as debt discount along with the $30,000 in legal fees associated with the May 2019 Note. These fees will be amortized over the term of the note. For the year ended December 31, 2019, the Company has recorded amortization of $90,491.

DEBT

DEBT	12 Months Ended
	Dec. 31, 2019
DEBT
NOTE 11 - DEBT	A summary of the Company’s third-party debt during the years ended December 31, 2019 and 2018 is presented below: December 31, 2019 Loan Facility Bridge Loans Trade Facility Third Party Total Beginning balance $ 3,078,442 $ 191,287 $ 6,291,199 $ 242,805 $ 9,803,733 Proceeds - - - 2,500,000 2,500,000 Payments - - - (227,912 ) (227,912 ) Foreign currency translation - - (45,799 ) (298 ) (46,097 ) Ending Balance $ 3,078,442 $ 191,287 $ 6,245,400 $ 2,514,595 $ 12,029,724 December 31, 2018 Loan Facility Bridge Loans Trade Facility Third Party Debt Discount Total Beginning balance $ 3,118,442 $ 204,965 $ 6,728,605 $ 27,651 $ (126,763 ) $ 9,952,900 Proceeds - - 312,309 1,580,000 - 1,892,309 Payments - - (1,156,700 ) (90,000 ) - (1,246,700 ) Transfer to related party - - - (1,500,000 ) - (1,500,000 ) Forgiveness of debt (40,000 ) (13,678 ) - - - (53,678 ) Amendment - - 661,645 - - 661,645 Acquisition of Cosmofarm - - - 227,912 - 227,912 Foreign currency translation - - (254,660 ) (2,758 ) - (257,418 ) Amortization - - - - 126,763 126,763 Ending Balance $ 3,078,442 $ 191,287 $ 6,291,199 $ 242,805 $ - $ 9,803,733 On November 16, 2015, the Company entered into a Loan Agreement with Panagiotis Drakopoulos, former Director and former Chief Executive Officer, pursuant to which the Company borrowed €40,000 ($42,832) as a note payable from Mr. Drakopoulos. The note bears an interest rate of 6% per annum and was due and payable in full on November 15, 2016. As of December 31, 2018, the Company had an outstanding principal balance of €13,000 ($14,893) and accrued interest of €3,088 ($3,538). As of December 31, 2019, the Company had an outstanding principal balance of €13,000 ($14,595) and accrued interest of €4,166 ($4,677). On January 18, 2018, the Company entered into a Loan Agreement with a third party, pursuant to which the Company borrowed €75,000 ($91,785). The note bore an interest rate of 6.5% per annum and had a maturity date of January 17, 2019. The note was secured by a personal guaranty of Grigorios Siokas. During the year ended December 31, 2018, the Company repaid the loan and the related accrued interest of €1,748 ($2,002) in full. On April 2, 2018, the Company entered into a Loan Agreement with a third party, pursuant to which the Company borrowed €5,000 ($6,144) as a note payable. The note bears an interest rate of 4.7% per annum and has a maturity date of June 15, 2019. As of December 31, 2018, the Company repaid the loan in full. Due to the early repayment by the Company, an agreement was reached between the Company and the lender for no interest to accrue under this loan. On December 19, 2018, pursuant to the terms of the Cosmofarm SPA (See Note 2), the Company issued a non-interest-bearing promissory note in the amount of €200,000 ($227,912). The note had a maturity date of December 19, 2019. The Company had an outstanding balance of €200,000 ($227,912) as of December 31, 2018. During the year ended December 31, 2019, the Company repaid the outstanding balance of the note. Loan Facility Agreement On August 4, 2016, the Company’s wholly owned subsidiary SkyPharm entered into a Loan Facility Agreement, guaranteed by Grigorios Siokas, with Synthesis Peer-To Peer-Income Fund (the “Loan Facility” the “Lender”). The Loan Facility initially provided SkyPharm with a credit facility of up to $1,292,769 (€1,225,141). Any advance under the Loan Facility accrues interest at a rate of 10% per annum and requires quarterly interest payments commencing on September 30, 2016. The amounts owed under the Loan Facility shall be repayable upon the earlier of (i) three months following the demand of the Lender; or (ii) August 31, 2018. No prepayment is permitted pursuant to the terms of the Loan Facility. The Synthesis Facility Agreement as amended is secured by a personal guaranty of Grigorios Siokas, which is secured by a pledge of 1,000,000 shares of common stock of the Company owned by Mr. Siokas. On September 13, 2016, SkyPharm entered into a First Deed of Amendment with the Loan Facility increasing the maximum loan amount to $1,533,020 as a result of the Lender having advanced $240,251 (€227,629) to SkyPharm. On March 23, 2017, SkyPharm entered into an Amended and Restated Loan Facility Agreement (the “A&R Loan Facility”), with the Loan Facility which increased the loan amount to an aggregate total of $2,664,960 (€2,216,736) as a result of the lender having advanced $174,000 (€164,898) in September 2016, $100,000 (€94,769) in October 2016, $250,000 (€236,922) in November 2016, $452,471 (€428,800) in December 2016, $155,516 (€129,360) in January 2017, $382,327 (€318,023) in July 2017 and $70,000 (€58,227) in December 2017. The A&R Loan Facility amends and restates certain provisions of the Loan Facility Agreement, dated as of August 4, 2016, by and among the same parties. Advances under the A&R Loan Facility continue to accrue interest at a rate of 10% per annum from the applicable date of each drawdown and require quarterly interest payments. The A&R Facility now permits prepayments at any time. The amounts owed under the A&R Loan Facility were repayable upon the earlier of (i) seventy-five days following the demand of the Lender; or (ii) August 31, 2018. The A&R Loan Facility is secured by a personal guaranty of Grigorios Siokas, which is secured by a pledge of 1,000,000 shares of common stock of the Company owned by Mr. Siokas (the “Pledged Shares”). The A&R Loan Facility was also amended to provide additional affirmative and negative covenants of Sky Pharm and the Guarantor during the term of loans remain outstanding, including, but not limited to, the consent of the Lender in connection with (i) the Company or any of its subsidiaries incurring any additional indebtedness; or (ii) in the event of any increase in the Company’s issued and outstanding shares of Common Stock, the Pledged Shares shall be increased to an amount equal to a minimum of ten percent (10%) of the issued and outstanding shares of the Company. On April 18, 2018, the Company entered into an amendment with the Lender that was effective as of January 1, 2018, pursuant to which the maturity dates for all advances was extended to December 31, 2021. Additionally, the interest rate was amended such that the interest rate for all advances is 4% plus the 3-Month Libor rate. The Loan Facility also forgave €35,060 ($40,000) in fees related to the July 6, 2017 advance. As a result, the Company reduced the unamortized portion of debt discount that related to those fees and recorded a gain on debt settlement of €19,763 ($23,354). As of December 31, 2018, the outstanding balance under the A&R Loan Facility was $3,078,442 (€2,687,187) and accrued interest expense of $414,830 (€362,107) was recorded. As of December 31, 2019, the outstanding balance under this note was $3,078,442 (€2,741,999) and accrued interest expense of $609,607 (€542,983) has been recorded. The Company recorded a total of €155,060 ($191,034) in debt discounts related to this note in prior years. The debt discounts are being amortized over the term of the debt. As a result of the April 16, 2018 amendment, the Company reduced the unamortized debt discount by €20,237 ($20,237). The Company amortized a total of €92,661 ($114,158) in prior years. The remaining debt discount of €42,162 ($56,043) was fully amortized in the year ended December 31, 2018. Bridge Loans On March 16, 2017 and March 20, 2017, SkyPharm entered into loan agreements with the Synthesis Peer-To Peer-Income Fund (the “Bridge Loans”). The Bridge Loans provided to SkyPharm loans of €41,590 ($50,000) and €100,000 ($120,220), respectively, during the year ended December 31, 2017. The Bridge Loans accrue interest at a rate of 10% per annum and were repayable on April 16, 2017 and April 20, 2017, respectively, together with all other amounts then accrued and unpaid. On April 16, 2017, the maturity dates were amended for no additional consideration or change in terms and conditions. The maturity dates of both loans were amended, and they matured on May 16, 2017 and May 20, 2017, respectively. Pursuant to the April 18, 2018 agreement and effective January 1, 2018, the Company reached an agreement with Synthesis Peer-To-Peer Income Fund such that the March 20, 2017 loan would have a fixed USD payoff amount of $106,542. As a result of this agreement the Company recorded a gain on settlement of debt of €16,667 ($19,695) related to the reduction of the USD payoff amount and an additional gain on settlement of debt of €3,950 ($4,668) related to interest that had accrued on the original amount of the loan. The Company has accrued interest expense of an aggregate total of €14,715 ($16,857) for both loans and the outstanding balances of these loans was €43,645 ($50,000) and €93,001 ($106,542), respectively, as of December 31, 2018. The Company has accrued interest expense of an aggregate total of €24,608 ($27,627) for both loans and the outstanding balances of these loans was €45,809 ($50,000) and €83,333 ($106,542), respectively, as of December 31, 2019. On May 5, 2017, SkyPharm entered into a loan agreement with Synthesis Peer-To-Peer Income Fund for €31,388 ($34,745). The loan accrues interest at a rate of 10% per annum and matured on September 30, 2017. The Company has accrued interest expense of €3,410 ($3,906) and the outstanding balance on this loan was €30,329 ($34,745) as of December 31, 2018. The Company has accrued interest expense of €5,437 ($6,104) and the outstanding balance on this loan was €31,388 ($34,745) as of December 31, 2019. On April 18, 2018, the Company entered into an amendment pursuant to which the maturity dates for all of the above Bridge Loan advances were extended to December 31, 2021 for no additional consideration. Additionally, the interest rate was amended such that, effective January 1, 2018, the interest rate for all advances is 4% plus the 3-Month Libor rate. Trade Facility Agreements On April 10, 2017, Decahedron entered into a Trade Finance Facility Agreement (the “Decahedron Facility”) with Synthesis Structured Commodity Trade Finance Limited (the “Lender”). The Decahedron Facility provides the following material terms: · The Lender will provide Decahedron a facility of up to €2,750,000 ($3,087,425) secured against Decahedron’s receivables from the sale of branded and generic pharmaceutical sales. · The total facility will be calculated as 95% of the agreed upon value of Decahedron’s receivables. · The term of the Decahedron Facility will be for 12 months. · The obligations of Decahedron are guaranteed by the Company pursuant to a Cross Guarantee and Indemnity Agreement. · The Lender has the right to make payments directly to Decahedron’s suppliers. · The following fees should be paid in connection with the Decahedron Facility: o 2% of the maximum principal amount as an origination fee. o A one percent (1%) monthly fee. The current draw on the Decahedron Facility is $0. On May 12, 2017, SkyPharm entered into a Trade Finance Facility Agreement (the “SkyPharm Facility”) with Synthesis Structured Commodity Trade Finance Limited (the “Lender”). The SkyPharm Facility provides the following material terms: · The Lender will provide SkyPharm a facility of up to €2,000,000 ($2,245,400) secured against SkyPharm’s receivables from the sale of branded and generic pharmaceutical sales. In the event that accounts receivable becomes uncollectible, the Company will be obligated to pay back the notes in full. · The total facility will be calculated as 95% of the agreed upon value of Decahedron’s receivables. · The term of the SkyPharm Facility will be for 12 months. · The obligations of SkyPharm are guaranteed by the Company pursuant to a Cross Guarantee and Indemnity Agreement. · The Lender has the right to make payments directly to SkyPharm’s suppliers. · The following fees should be paid in connection with the SkyPharm Facility: o 2% of the maximum principal amount as an origination fee. o A one percent (1%) monthly fee. The Company obtained consents from Synthesis Peer-to-Peer Income Fund in connection with obtaining the Lender. On November 16, 2017, SkyPharm signed an amended agreement with Synthesis Structured Commodity Trade Finance Limited that increased the maximum aggregate facility limit from €2,000,000 ($2,291,200) to €6,000,000 ($6,736,200). All other terms of the original agreement remain the same. The Company also obtained consents from Synthesis Peer-to-Peer Income Fund in connection with obtaining the November 2017 convertible debt financing. On May 12, 2018, the Company borrowed an additional €270,000 ($247,117) in funds. On May 16, 2018, SkyPharm S.A., as Commodity Buyer, entered into a Supplemental Deed of Amendment (the “Deed”) relating to a Trade Finance Facility dated May 12, 2017, as amended, with Synthesis Structured Commodity Trade Finance Limited (“Synthesis”), as Loan Receivables Originator. Under the Trade Finance Facility (the “TFF”) first entered into on May 12, 2017, as amended, there was a principal balance of €5,866,910 ($5,369,678) outstanding as of March 31, 2018. SkyPharm made a payment of €1,000,000 ($1,123,600) of interest and principal on May 31, 2018 under the terms and conditions of the Deed. Additionally, the maturity date for the facility has been amended such that, the full principal amount is to be repaid no later than May 31, 2021, subject to a repayment schedule to be agreed upon by SkyPharm and Synthesis Structure Commodity Trade Finance Limited. Synthesis Structure Commodity Trade Finance Limited may extend this final repayment date at its sole discretion. The TFF was amended to provide, among other things: · A listing of approved purchasers; · To permit SkyPharm to request Synthesis to make payments under the TFF directly to SkyPharm so that SkyPharm can discharge its obligations to a commodity seller directly; · To prohibit SkyPharm from entering into a commodity contract which grants more than seventy-five (75) days delay between the payment for products and receipt of the purchase price and placed other limitations on terms of commodity contracts; · If Grigorios Siokas, CEO of Cosmos Holdings Inc. (“Cosmos”), ceases to own or control at least fifty-one (51%) percent of the shares of Cosmos, or SkyPharm ceases to be a wholly-owned subsidiary of Cosmos, either event shall constitute an Event of Default (as defined); · The maximum aggregate amount of the TFF is €15,000,000, although there is no commitment for any future loans under the TFF; · The interest rate on the TFF for: (i) all lending in U.S. dollars is the one-month LIBOR plus six (6%) percent margin; and (ii) for all lending in Euro, the one-month Euribor Rate plus six (6%) percent per annum, commencing June 1, 2018. · Synthesis is permitted to terminate the TFF at any time and demand repayment of all outstanding principal and interest in full within six (6) months from the date of notification. The Deed is conditioned upon, among other things, execution and perfection of a Bulgarian Amended Pledge (“BAP”) having priority over the Bulgarian Pledge Accounts with Unicredit Bulbank AD; and the Approved Purchasers are to make all payments to SkyPharm directly to the BAP. On May 16, 2018, SkyPharm and Synthesis also entered into an Account Merge Agreement (the “Pledge”) as a requirement under the above-described Deed. Under the Pledge, Synthesis is to receive a first ranking securities interest in SkyPharm’s outstanding receivables under the Bulgarian bank account. On October 17, 2018, the Company entered into a further amended agreement with Synthesis whereby the current balance on the TFF as of October 1, 2018, which was €4,866,910 ($5,629,555) and related accrued interest of €453,094 ($524,094) would be split into two principal balances of Euro €2,000,000 and USD $4,000,000. Interest on the new balances commenced on October 1, 2018 at 6% per annum plus one-month Euribor, when it is positive, on the Euro balance and 6% per annum plus one-month Libor on the USD balance. The Company will repay the principal amounts of each balance beginning no later than August 31, 2018 in quarterly installments of €125,000 and US $150,000. The loan matures on August 31, 2021. The Company evaluated the amended agreement under ASC 470-50 and concluded that it did not meet the 10% cash flow test and recorded debt modification expense of $138,110. As of December 31, 2018, the Company had principal balances of €2,000,000 ($2,291,200) and $4,000,000 under the TFF and the Company had accrued $0 and $19,834, respectively in interest expense related to this agreement. As of December 31, 2019, the Company had a principal balance of €2,000,000 ($2,245,400) and $4,000,000 under the TFF and the Company had accrued $10,000 and $12,661, respectively in interest expense related to this agreement. The Company recorded a total debt discount of €117,338 ($137,063) in origination fees associated with these loans, which was amortized over the original terms of the agreements. The Company recorded amortization of €53,043 ($66,227) in the year ended December 31, 2018 resulting in the full amortization of debt discount as of December 31, 2018. Distribution and Equity Agreement As discussed in Note 4 above, the Company entered into a Distribution and Equity Acquisition Agreement with Marathon. The Company was appointed the exclusive distributor of the Products (as defined) initially throughout Europe and on a non-exclusive basis wherever else lawfully permitted. As consideration for its services, Company received: (a) a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services; and (b) received cash of CAD $2,000,000, subject to repayment in Common Shares of the Company if it fails to meet certain performance milestones. The Company is entitled to receive an additional CAD $2,750,000 upon the Company’s receipt of gross sales of CAD $6,500,000 and an additional CAD $2,750,000 upon receipt of gross sales of CAD $13,000,000. As discussed in Note 4, the Company attributed no value to the shares received in Marathon pursuant to (a) above. In relation to the CAD $2 million cash received noted in (b) above, the Company accounted for its obligation to issue a variable number of the Company’s Common Shares as Share-settled debt obligation in accordance with ASC 480 measured at fair value or the settlement amount of $1,554,590 (CAD $2 million). If settlement were to occur on December 31, 2019, the Company would be required to issue 615,573 common shares to settle its debt obligation. The Company could be obligated to potentially issue an unlimited number of common shares to settle its Share-settled debt obligation. If such events were to occur, the Company would be required to increase its authorized share capital and since increasing the authorized share capital is within the control of the Company, as our CEO controls greater than 50% of the outstanding common stock of the Company, the original classification of equity-classified financial instruments issued by the Company were not affected. Senior Promissory Notes executed on April 1 and 3, 2019 On April 1 and 3, 2019, the Company executed Senior Promissory Notes (the “Notes”) each in the principal amount of $250,000 payable to an unaffiliated third-party lender. The Notes bear interest at the rate of fifteen (15%) percent per annum, paid quarterly in arrears. The Notes matured on April 1 and 3, 2020 unless prepaid or in default. The Company is currently in discussions with the lender to extend the maturity date and is not in default. The Company may prepay the Notes within the first six (6) months by payment of unpaid interest for the first six (6) months interest and after six (6) months, with a (2%) percent ($5,000) premium on each note. The Notes are subject to acceleration in an Event of Default (as defined in the Notes). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the Notes. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2019, the Company had a principal balance $250,000 and $250,000 on these notes and the Company had accrued $9,452 and $28,098, respectively, in interest expense. Senior Promissory Note executed on April 9, 2019 On April 9, 2019, the Company executed a Senior Promissory Note (the “Note”) in the principal amount of $250,000 payable to an unaffiliated third-party lender who had previously loaned the Company $500,000. The Note bears interest at the rate of fifteen (15%) percent per annum, paid quarterly in arrears. The Note matured on April 9, 2020, unless prepaid or in default. The Company is currently in discussions with the lender to extend the maturity date and is not in default. The Company may prepay the Note within the first six (6) months by payment of unpaid interest for the first six (6) months and after six (6) months, with a two (2%) percent ($5,000) premium. The Note is subject to acceleration in an Event of Default (as defined in the Note). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2019, the Company had a principal balance $250,000 on this Note and the Company had accrued $27,431 in interest expense. July 24, 2019 Senior Promissory Note On July 24, 2019, the Company executed a Senior Promissory Note (the “July Note”) in the principal amount of $750,000 payable to an unaffiliated third-party lender who had previously loaned the Company $750,000. The funds represented by the July Note were advanced between July 19 and 24, 2019. The July Note bears interest at the rate of fifteen (15%) percent per annum, paid quarterly in arrears. The July Note matures on July 24, 2020, unless prepaid or in default. The Company may prepay the July Note within the first six (6) months by payment of unpaid interest for the first six (6) months and, after six (6) months, with a two (2%) percent ($15,000) premium. The July Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the July Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2019, the Company had a principal balance $750,000 on this note and the Company had accrued $49,625 in interest expense. August 1, 2019 Senior Promissory Note On August 1, 2019, the Company executed a Senior Promissory Note (the “August Note”) in the principal amount of $500,000 payable to an unaffiliated third-party lender who had previously loaned the Company $1,500,000. The August Note bears interest at the rate of fifteen (15%) percent per annum, paid quarterly in arrears. The August Note matures on August 1, 2020, unless prepaid or in default. The Company may prepay the August Note within the first six (6) months by payment of unpaid interest for the first six (6) months and, after six (6) months, with a two (2%) percent ($10,000) premium. The August Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the August Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2019, the Company had a principal balance $500,000 on this note and the Company had accrued $31,438 in interest expense. October 23, 2019 Senior Promissory Note On October 23, 2019, the Company executed a Senior Promissory Note (the “October Note”) in the principal amount of $250,000 payable to an unaffiliated third-party lender who had previously loaned the Company $2,000,000. The October Note bears interest at the rate of fifteen (15%) percent per annum, paid quarterly in arrears. The October Note matures on October 23, 2020, unless prepaid or in default. The Company may prepay the October Note within the first six (6) months by payment of unpaid interest for the first six (6) months and, after six (6) months, with a two (2%) percent ($5,000) premium. The October Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the October Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2019, the Company had a principal balance $250,000 on this note and the Company had accrued $7,705 in interest expense. December 6, 2019 Senior Promissory Note On December 6, 2019, the Company executed a Senior Promissory Note (the “December Note”) in the principal amount of $250,000 payable to an unaffiliated third-party lender who had previously loaned the Company $2,250,000. The December Note bears interest at the rate of fifteen (5%) percent per annum, paid quarterly in arrears. The December Note matured on March 31, 2020, unless prepaid or in default. The Company is currently in discussions with the lender to extend the maturity date and is not in default. The Company may prepay the December Note after six (6) months, with a two (2%) percent ($5,000) premium. The December Note is subject to acceleration in an Event of Default. Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the December Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. As of December 31, 2019, the Company had a principal balance $250,000 on this note and the Company had accrued $890 in interest expense. None of the above loans were made by any related parties.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
LEASES
NOTE 12 - LEASES	The Company has various lease agreements with terms up to 10 years, comprising of leases of office space. Some leases include options to purchase, terminate or extend for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised. The assets and liabilities from operating and finance leases are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company’s secured incremental borrowing rates or implicit rates, when readily determinable. Short-term leases, which have an initial term of 12 months or less, are not recorded on the balance sheet. The Company’s operating leases do not provide an implicit rate that can readily be determined. Therefore, we use a discount rate based on our incremental borrowing rate, which is determined using the interest rate of our long-term debt as of January 1, 2019. The Company’s weighted-average remaining lease term relating to its operating leases is 6.65 years, with a weighted-average discount rate of 6.74%. The Company incurred lease expense for its operating leases of $223,927 which was included in “General and administrative expenses,” for the year ended December 31, 2019. The Company had operating cash flows used in operating leases of $185,540 for the year ended December 31, 2019. Right-of-use assets obtained in exchange for new operating lease liabilities $673,844 for the year ended December 31, 2019. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s operating leases as of December 31, 2019. Maturity of Lease Liability 2020 $ 167,694 2021 83,144 2022 53,890 2023 53,890 Thereafter 255,976 Total undiscounted finance lease payments $ 614,593 Less: Imputed interest 122,013 Present value of finance lease liabilities $ 492,580 The Company’s weighted-average remaining lease term relating to its finance leases is 2.87 years, with a weighted-average discount rate of 6.66%. The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s finance leases as of December 31, 2019. Maturity of Lease Liability 2019 $ 65,556 2020 44,373 2021 26,472 2022 14,685 2023 4,126 Thereafter - Total undiscounted finance lease payments $ 155,212 Less: Imputed interest 14,504 Present value of finance lease liabilities $ 140,708 The Company had financing cash flows used in finances leases of $74,476 for the year ended December 31, 2019. The Company incurred interest expense on its finance leases of $10,927 which was included in “Interest expense,” for the year ended December 31, 2019. The Company incurred amortization expense on its finance leases of $160,542 which was included in “Depreciation and amortization expense,” for the year ended December 31, 2019.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
COMMITMENTS AND CONTINGENCIES
NOTE 13 - COMMITMENTS AND CONTINGENCIES	Legal Matters From time to time, the Company may be involved in litigation relating to claims arising out of the Company’s operations in the normal course of business. As of December 31, 2019 and 2018, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company’s operations. Intellectual Property Sale Agreement On October 1, 2016, the Company entered into an Intellectual Property Sale Agreement with Anastasios Tsekas and Olga Parthenea Georgatsou (the “IPSA”) for the purchase of certain intellectual property rights relating to proprietary pharmaceutical formulas and any related technical information arising or related thereto (the “Intellectual Property”). The IPSA provides that the sellers shall be entitled to an aggregate of 200,000 shares of common stock of the Company, none of which have been issued to date, and issuable as follows in equal parts to each seller: · 50,000 shares upon the successful conclusion of Preclinical Trials. · 50,000 shares upon the conclusion of Phase I testing. · 50,000 shares upon the conclusion of Phase II testing. · 50,000 shares upon the conclusion of Phase III testing. The Company has agreed to pay Anastasios Tsekas €1,500 per month until the first issuance of the shares referenced above. The Company has also agreed that in the event the Company disposes of the Intellectual Property prior to the periods referenced above, the sellers shall be entitled to the issuance of all the shares referenced above. The Company is in the process of locating a suitable lab to conduct the preclinical trial phase, which has not yet begun as of the date of filing. Placement Agreement On August 8, 2017, the Company entered into an agreement with a third-party placement agent (the “Agent”) who will serve as the Company’s exclusive placement agent or sole book running manager with respect to any offerings of equity or equity-linked securities as well as any debt offering with the two organizations named in the agreement (the “Offering”) for a period of 120 days. In the event that an Offering is agreed upon by the Agent and the Company, the Company shall provide payment as follows: (1) a cash commission of 6% of the total gross proceeds for two named investors (2) a cash commission of 4% of total gross proceeds from five named investors and (3) excluding the five named investors in “(2)” a cash commission equal to 8% of the total gross proceeds from the Offering and the issuance to the Agent or its designees of warrants covering 8% of the shares of common stock issued or issuable by the Company in the Offering. Additionally, the Agent will receive a cash fee of 8% payable within 5 business days, but only in the event of, the receipt by the Company of any cash proceeds from the exercise of any warrants with an expiration equal to or less than 24 months sold in the Offering. In connection with the Company’s November 16, 2017 Note offering, the Agent received a cash commission of $240,000, equal to eight (8%) percent of the total gross proceeds of the offering and the issuance of five-year warrants to purchase eight (8%) percent of the shares of Common Stock issued or issuable in the offering (excluding shares of Common Stock issuable upon exercise of any Warrants issued to investors, or 53,600 shares); however, will receive eight (8%) percent of any cash proceeds received from the exercise of any Warrants sold in the offering with an expiration equal to or less than twenty-four (24) months. The Warrants are exercisable six (6) months after the date of issuance, or as of May 16, 2018. In connection with the Company’s September 4, 2018 Note offering, the Agent received a cash commission for this transaction of $140,000, equal to seven (7%) percent of the total gross proceeds of the offering and the issuance of five-year warrants to purchase seven (7%) percent of the shares of Common Stock issued or issuable in this offering (excluding shares of Common Stock issuable upon exercise of any Warrants issued to investors, or 26,056 shares); however, will receive seven (7%) percent of any cash proceeds received from the exercise of any Warrants sold in the offering with an expiration equal to or less than twenty-four (24) months. The Warrants are exercisable six (6) months after the date of issuance, or March 4, 2019. Advisory Agreement On April 18, 2018, SkyPharm S.A. entered into a ten-year Advisory Agreement with Synthesis Management Limited (the “Advisor”). The Advisor was retained to assist SkyPharm to secure corporate finance capital. The Advisor shall be paid €104,000 per year during the ten-year term.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2019
EARNINGS PER SHARE
NOTE 14 - EARNINGS PER SHARE	Basic net income (loss) per share is computed by dividing net income (loss) attributable to the Company, decreased with respect to net income or increased with respect to net loss by dividends declared on preferred stock by using the weighted-average number of common shares outstanding. The dilutive effect of incremental common shares potentially issuable under outstanding options, warrants and restricted shares is included in diluted earnings per share in 2019 and 2018 utilizing the treasury stock method. The computations of basic and diluted per share data were as follows: 2019 2018 Numerator for Basic and Diluted Earnings Per Share: Net loss $ (3,298,965 ) $ (9,060,658 ) Denominator for Basic Earnings Per Share: Weighted Average Shares 13,273,596 13,306,612 Potentially Dilutive Common Shares - - Adjusted Weighted Average Shares 13,273,596 13,306,612 Basic and Diluted Net (Loss) Income per Share (0.25 ) (0.68 ) The following table summarized the potential shares of common stock that were excluded from the computation of diluted net loss per share for the years ended December 31, 2019 and 2018 as such shares would have had an anti-dilutive effect: 2019 2018 Common stock warrants - 144,338 Common Stock Options 42,808 60,437 Convertible Debt - 52,381 Total 42,808 257,155

STOCK OPTIONS AND WARRANTS

STOCK OPTIONS AND WARRANTS	12 Months Ended
	Dec. 31, 2019
STOCK OPTIONS AND WARRANTS
NOTE 15 - STOCK OPTIONS AND WARRANTS	On January 1, 2017 the Company entered into a two-year agreement whereby the employee was granted compensation of €1,000 per month and an annual retainer of 25,000 stock options per year as compensation for being appointed the International Finance Manager of the Company. The options have an exercise period of four years with an exercise price of $1.00. In the event that he ceases to work for the Company for any reason, he will be entitled to a pro rata portion of the annual options. The options vest monthly, with a total of 25,000 options fully vested as of December 31, 2017 and December 31, 2018, respectively. The options issued in the year ended December 31, 2017 were valued at $195,307 using the Black Scholes Option Pricing Model with the following inputs: stock price on measurement date: $8.20; Exercise price: $1.00; Option term: 4 years; Computed volatility: 136.76%. The fair value of the options was amortized over a year with $195,307 expensed during the year ended December 31, 2017. The options issued during the year ended December 31, 2017 were valued at $242,002 using the Black Scholes Option Pricing Model with the following inputs: stock price on measurement date: $10.20; Exercise price: $1.00; Option term: 4 years; Computed volatility: 120.92%. The fair value of the options was amortized over a year with $242,002 expensed during the year ended December 31, 2018. As of December 31, 2019, there were 74,000 options outstanding and 74,000 options exercisable with expiration dates commencing October 2020 and continuing through January 2022. A summary of the Company’s option activity during the years ended December 31, 2019 and 2018 is presented below: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Shares Price Term Value Balance Outstanding, December 31, 2017 49,000 $ 1.49 3.19 $ - Granted 25,000 1.00 4.00 - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2018 74,000 $ 1.32 2.47 $ 198,000 Granted - - - - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2019 74,000 $ 1.32 1.47 $ 64,800 Exercisable, December 31, 2019 74,000 $ 1.32 1.47 $ 64,800 In connection with a private placement that took place on April 7, 2017, the Company issued warrants for a total of 10,040 common shares of the Company at a 1:1 ratio for shares purchased by investors. The warrants were valued using the Black Scholes valuation model with stock prices ranging from $7.60 to $8.50, exercise price of $30.00, volatility ranging from 76.66% to 90.86% based on the Company’s stock price, an expected term of 1 year and a risk-free rate ranging from 1.07% to 1.11%. These warrants expired during the year ended December 31, 2018. On September 4, 2018, in connection with the $2,233,333 Securities Purchase Agreement, the Company issued warrants for 357,334 common shares of the Company (See Note 16). The fair value of the warrants was determined using a Black Scholes valuation model with a stock price of $6.40, exercise price of $7.50, volatility of 111.51% based on the Company’s stock price, an expected term of 5 years and a risk free rate of 2.78%. The value of the warrants of $910,078 was recognized as interest expense during the year ended December 31, 2018. The warrants became exercisable on March 4, 2019. On September 4, 2018, in connection with the $2,233,333 Securities Purchase Agreement (See Note 16), Roth Capital Partners, LLC (“Roth”), as the Company’s exclusive placement agent, was issued warrants for 26,056 common shares of the Company. The fair value of the warrants was determined using a Black Scholes valuation model with a stock price of $6.40, exercise price of $5.00, volatility of 169.29% based on the Company’s stock price, an expected term of 5 years and a risk free rate of 2.78%. The value of the warrants of $157,969 was recognized as interest expense during the year ended December 31, 2018. The warrants became exercisable on March 4, 2019. The significant assumptions used to determine the fair values of warrants issued, using a Black-Scholes valuation model are as follows: 2018 Market value of underlying stock $ 6.40 Volatility 111.51%-254.07 % Expected term (in years) 5 – 5.5 Risk-free interest rate 2.77% -2.78 % Expected dividend yield None A summary of the Company’s warrant activity for the years ending December 31, 2019 and 2018 is as follows: Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance Outstanding, December 31, 2017 599,640 $ 7.65 5.29 $ 1,725,921 Granted 1,111,073 - - - Forfeited (536,000 ) - - - Exercised - - - - Expired (10,040 ) - - - Balance Outstanding, December 31, 2018 1,164,673 $ 6.41 5.01 $ - Granted - - - - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2019 1,164,673 $ 6.41 4.01 $ - Exercisable, December 31, 2019 1,164,673 $ 6.41 4.01 $ -

DISAGGREGATION OF REVENUE

DISAGGREGATION OF REVENUE	12 Months Ended
	Dec. 31, 2019
DISAGGREGATION OF REVENUE
NOTE 16 - DISAGGREGATION OF REVENUE	ASC 606-10-50-5 requires that entities disclose disaggregated revenue information in categories (such as type of good or service, geography, market, type of contract, etc). ASC 606-10-55-89 explains that the extent to which an entity’s revenue is disaggregated depends on the facts and circumstances that pertain to the entity’s contracts with customers and that some entities may need to use more than one type of category to meet the objective for disaggregating revenue. The Company disaggregates revenue by country to depict the nature and economic characteristics affecting revenue. The following table presents our revenue disaggregated by country for the years ended: Country 2019 2018 Belgium $ - $ 4,230 Croatia 22,497 - Denmark 97,905 430,932 France 153,422 388,944 Georgia 5,301 - Germany 6,672,511 14,783,119 Greece 26,101,316 2,970,219 Hungary 1,094,446 1,673,287 Indonesia 7,172 6,449 Ireland 467,965 1,519,746 Italy 196,044 481,141 Jordan 20,144 162,749 Libya 396,333 3,860,021 Netherlands 846,479 886,218 Poland 307,624 - Spain - 8,724 Turkey 24,347 - UK 3,262,880 9,908,103 Total $ 39,676,385 $ 37,083,882

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
SUBSEQUENT EVENTS
NOTE 17 - SUBSEQUENT EVENTS	Farmasyn Agreement On October 18 th January 27, 2020 Senior Promissory Note On January 27, 2020, the Company executed a Senior Promissory Note (the “January Note”) in the principal amount of $250,000 payable to an unaffiliated third-party lender who had previously loaned the Company $2,500,000. The January Note bears interest at the rate of five (5%) percent per annum, paid quarterly in arrears. The January Note matures on May 15, 2020 unless in default. The Company may prepay the January Note within the first six (6) months by payment of unpaid interest for the first six (6) months and, after six (6) months, with a two (2%) percent ($5,000) premium. The January Note is subject to acceleration in an Event of Default (as defined). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the January Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. February 25, 2020 Senior Promissory Note On February 25, 2020, the Company executed a Senior Promissory Note (the “February Note”) in the principal amount of $1,000,000 payable to an unaffiliated third-party lender. The February Note bears interest at the rate of eighteen (18%) percent per annum, paid quarterly in arrears. The February Note matures on April 30, 2020 unless in default. The February Note is subject to acceleration in an Event of Default (as defined). Grigorios Siokas, the Company’s CEO, personally guaranteed repayment of the February Note. The guaranty is unconditional and irrevocable and constitutes a guaranty of performance and of payment when due, and not just of collection. March 23, 2020 Forbearance Agreement On March 23, 2020, the Company entered into a Forbearance and Amendment Agreement (the “Agreement”) with an institutional investor (the “Buyer”). The Company entered into a Securities Purchase Agreement (the “SPA”) with the Buyer on May 15, 2019, pursuant to which the Company issued a Convertible Note (the “Note”) in the principal amount of $1,500,000. The Note was due on or before March 15, 2020 and was not paid (the “Existing Default”). The Note provides that upon an Event of Default, the Buyer may, among other things, require the Company to redeem all or a portion of the Note at a redemption premium of 120%, multiplied by the product of the conversion rate ($6.00per share) and the then current market price. The Agreement provides that the Buyer will (a) forbear (i) from taking any action with respect to the Existing Default and (ii) from issuing any demand for redemption of the Note on the basis of the Existing Default until the earlier of: (1): (September 16, 2020 (or, if earlier, such date when all amounts outstanding under the Note shall be paid in full or converted into shares of Common Stock in accordance therewith) and (2) the time of any breach by the Company of the Agreement or the occurrence of an Event of Default that is not an Existing Default (the “Forbearance Expiration Date), (b)during the Forbearance Period waive the prepayment premium to any Company Optional Redemption, and (c) during the Forbearance Period, waive the repayment in full of the Note other than the Required Payments (as defined) prior to September 16, 2020. The Scheduled Required Prepayments are $100,000 upon signing the Agreement and five (5) monthly payments thereafter aggregating $200,000 with all amounts outstanding under the Note due on September 16, 2020. In addition, there are mandatory prepayments in the event the Company completes a Subsequent Placement (as defined) or long-term debt (other than from the Buyer or from officers and directors and advisors of the Company) or factoring and purchase order indebtedness, the Company shall effect a Company Optional Redemption amount equal to 50% of the gross proceeds (less reasonable expenses of counsel and any investment bank) together with all Scheduled Required Payments. COVID-19 Diagnostic Detection Kit Exclusive Agency Agreement On April 4, 2020, the Company entered to an agreement with a third-party manufacturer and distributor of medical products. The Company has been appointed as the Exclusive Representation Agent to promote the COVID-19 Diagnostic Detection Kit in Greece, Cyprus, England and Germany that was developed by the third party. The duration of this agreement is for two (2) years, until April 2, 2022. Under this agreement, the Company commits to place a certain amount of minimum purchase orders within the first week as well as on an ongoing basis. In addition, the prices are fixed for each product and exclude logistics costs. The Effects of COVID-19 The World Health Organization (WHO) declared the coronavirus outbreak a pandemic on January 30, 2020. Since the outbreak in China in December 2019, COVID-19 has expanded its impact to Europe, where all of our operations reside, as well as our employees, suppliers and customers. While the disruption is currently expected to be temporary, there is considerable uncertainty around the duration of the closings and shelter-in-place orders and the ultimate impact of governmental initiatives. However, the financial impact and duration cannot be reasonably estimated at this time.

ORGANIZATION AND NATURE OF BU_2

ORGANIZATION AND NATURE OF BUSINESS (Policies)	12 Months Ended
	Dec. 31, 2019
ORGANIZATION AND NATURE OF BUSINESS (Policies)
Basis of Financial Statement Presentation	The accompanying consolidated financial statements have been prepared in accordance with principles generally accepted in the United States of America.
Principles of Consolidation	Our consolidated accounts include our accounts and the accounts of our wholly owned subsidiaries, SkyPharm S.A., Decahedron Ltd. and Cosmofarm Ltd. All significant intercompany balances and transactions have been eliminated.
Use of Estimates	The preparation of the consolidated financial statements in conformity with 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.
Foreign Currency Translation and Other Comprehensive Income (Loss)	The functional currency of the Company’s subsidiaries is the Euro and British Pound. For financial reporting purposes, both the Euro (“EUR”) and British Pound (“GBP”) have been translated into United States dollars ($) and/or (USD) as the reporting currency. Assets and liabilities are translated at the exchange rate in effect at the balance sheet date. Revenues and expenses are translated at the average rate of exchange prevailing during the reporting period. Equity transactions are translated at each historical transaction date spot rate. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of stockholders’ equity (deficit) as “Accumulated other comprehensive loss.” Gains and losses resulting from foreign currency transactions are included in the statements of operations and comprehensive loss as other comprehensive income (loss). There have been no significant fluctuations in the exchange rate for the conversion of EUR or GBP to USD after the balance sheet date. Other Comprehensive Income (Loss) for all periods presented includes only foreign currency translation gains (losses). Assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the consolidated balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency included in the consolidated results of operations as incurred. As of December 31, 2019 and 2018, the exchange rates used to translate amounts in Euros into USD and British Pounds into USD for the purposes of preparing the consolidated financial statements were as follows: December 31, 2019 December 31, 2018 Exchange rate on balance sheet dates EUR: USD exchange rate 1.1227 1.1456 GBP: USD exchange rate 1.3185 1.2734 Average exchange rate for the period EUR: USD exchange rate 1.1194 1.1817 GBP: USD exchange rate 1.2767 1.3348
Cash and Cash Equivalents	For purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. As of December 31, 2019 and December 31, 2018, there were no cash equivalents. The Company maintains bank accounts in the United States denominated in U.S. Dollars and in the Republic of Cyprus, in Greece and in Bulgaria all of which are denominated in Euros. Additionally, the Company maintains a bank account in the United Kingdom denominated in British Pounds. For the year ended December 31, 2019, the amounts in these accounts were $14,451, $10,987 and $4,080. For the year ended December 31, 2018, the amounts in these accounts were $242,903, $203,806 and $119,357. Additionally, for the years ended December 31, 2019 and 2018, the Company had cash on hand in the amount of $52,489 and $166,350, respectively.
Reclassifications to Prior Period Financial Statements and Adjustments	Certain reclassifications have been made in the Company’s financial statements of the prior year to conform to the current year presentation. $2,500,000 in equity investment from the year ended December 31, 2018 was reclassified to marketable securities along with $212,890 from other investments resulting in marketable securities having an ending balance of $2,712,890 and other investments having an ending balance of $4,471 as of December 31, 2018. These reclassifications have no impact on previously reported net income.
Account Receivable, net	Accounts receivable are stated at their net realizable value. The allowance for doubtful accounts against gross accounts receivable reflects the best estimate of probable losses inherent in the receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available information. At December 31, 2019 and 2018, the Company’s allowance for doubtful accounts was $529,252 and $540,048, respectively.
Tax Receivables	The Company pays Value Added Tax (“VAT”) or similar taxes (“input VAT”), income taxes, and other taxes within the normal course of its business in most of the countries in which it operates related to the procurement of merchandise and/or services it acquires and/or on sales and taxable income. The Company also collects VAT or similar taxes on behalf of the government (“output VAT”) for merchandise and/or services it sells. If the output VAT exceeds the input VAT, this creates a VAT payable to the government. If the input VAT exceeds the output VAT, this creates a VAT receivable from the government. The VAT tax return is filed on a monthly basis offsetting the payables against the receivables. In observance of EU regulations for intra-EU cross-border sales, our subsidiaries in Greece, SkyPharm and Cosmofarm, do not charge VAT for sales to wholesale drug distributors registered in other European Union member states. As of December 31, 2019 and 2018, the Company had a VAT net receivable balance of $136,891 and $729,790 respectively, recorded in the consolidated balance sheet as other assets.
Inventory	Inventory is stated at the lower-of-cost or net realizable value using the weighted average cost method on a first-in-first-out basis. Inventory consists primarily of finished goods and packaging materials, i.e. packaged pharmaceutical products and the wrappers and containers they are sold in. Inventory is replaced periodically to maintain the optimum stock on hand available for immediate shipment. The Company writes-down inventories to net realizable value based on physical condition, expiration date, current market conditions, as well as forecasted demand. The Company’s inventories are not highly susceptible to obsolescence. Many of the Company’s inventory items are eligible for return to our suppliers when pre-agreed product requirements, including, but not limited to, physical condition and expiration date, are not met.
Property and Equipment, net	Property and equipment are stated at cost, less accumulated depreciation. Depreciation is provided on a straight-line basis over the useful lives (except for leasehold improvements which are depreciated over the lesser of the lease term or the useful life) of the assets as follows: Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years Depreciation expense was $201,000 and $34,623 for the years ended December 31, 2019 and December 31, 2018, respectively.
Impairment of Long-Lived Assets	In accordance with ASC 360-10, Long-lived Assets, which include property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. For the years ended December 31, 2019 and 2018, the Company had no impairment of long-lived assets.
Goodwill and Intangibles, net	The Company periodically reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist. Goodwill and certain intangible assets are assessed annually, or when certain triggering events occur, for impairment using fair value measurement techniques. These events could include a significant change in the business climate, legal factors, a decline in operating performance, competition, sale or disposition of a significant portion of the business, or other factors. Specifically, goodwill impairment is determined using a two-step process. The first step of the goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. The Company uses level 3 inputs and a discounted cash flow methodology to estimate the fair value of a reporting unit. A discounted cash flow analysis requires one to make various judgmental assumptions including assumptions about future cash flows, growth rates, and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s budget and long-term plans. Discount rate assumptions are based on an assessment of the risk inherent in the respective reporting units. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not impaired and the second step of the impairment test is unnecessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. The second step of the goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid to acquire the reporting unit. On December 19, 2018, as a result of the acquisition of Cosmofarm, the Company recorded $49,697 of goodwill. Intangible assets with definite useful lives are recorded on the basis of cost and are amortized on a straight-line basis over their estimated useful lives. The Company uses a useful life of 5 years for an import/export license. The Company evaluates the remaining useful life of intangible assets annually to determine whether events and circumstances warrant a revision to the remaining amortization period. If the estimate of the intangible asset’s remaining useful life is changed, the remaining carrying amount of the intangible asset will be amortized prospectively over that revised remaining useful life. As of December 31, 2019, no revision to the remaining amortization period of the intangible assets was made. Amortization expense was $33,086 and $9,307 for the years ended December 31, 2019 and 2018, respectively.
Equity Method Investment	For those investments in common stock or in-substance common stock in which the Company has the ability to exercise significant influence over the operating and financial policies of the investee, the investment is accounted for under the equity method. The Company records its share in the earnings of the investee and is included in “Equity earnings of affiliate” in the consolidated statement of operations. The Company assesses its investment for other-than-temporary impairment when events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable and recognizes an impairment loss to adjust the investment to its then current fair value.
Investments in Equity Securities	Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2016-01, and accordingly, investments in equity securities are accounted for at fair value with changes in fair value recognized in net income. Equity securities are classified as short-term or long-term based on the nature of the securities and their availability to meet current operating requirements. Equity securities that are readily available for use in current operations are reported as a component of current assets in the accompanying consolidated balance sheets. Equity securities that are not considered available for use in current operations would be reported as a component of long-term assets in the accompanying consolidated balance sheets. For equity securities with no readily determinable fair value, the Company elects a measurement alternative to fair value. Under this alternative, the Company measures the investments at cost, less any impairment, and adjusted for changes resulting from observable price changes in transactions for identical or similar investments of the investee. The election to use the measurement alternative is made for each eligible investment. As of December 31, 2019, investments consisted of 3,000,000 shares, which traded at a closing price of $0.01 per share or a value of $33,000 of ICC International Cannabis Corp., 40,000 shares which traded at a closing price of $5.01 per share, or value of $200,290 of Diversa S.A. and 16,666 shares which traded at a closing price of $0.34 per share or value of $5,650 of National Bank of Greece. Additionally, the Company has $4,381 in equity securities of Pancreta bank, which are not publicly traded and recorded at cost. See Note 3, for additional investments in equity securities.
Fair Value Measurement	The Company applied FASB ASC 820, Fair Value Measurements and Disclosures, (“ASC 820”), for assets and liabilities measured at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted accounting principles that require the use of fair value measurements establishes a framework for measuring fair value and expands disclosure about such fair value measurements. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Additionally, ASC 820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized below: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. The following table presents assets that are measured and recognized at fair value as of December 31, 2019 and 2018, on a recurring basis: December 31, 2019 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ 33,000 - - $ 33,000 Marketable securities – Divsersa S.A. 200,290 - - 200,290 Marketable securities – National Bank of Greece 5,650 - - 5,650 $ 238,940 $ 238,940 December 31, 2018 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ 2,500,000 - - $ 2,500,000 Marketable securities – Divsersa S.A. 210,790 - - 210,790 Marketable securities – National Bank of Greece 2,100 - - 2,100 $ 2,712,890 $ 2,712,890 FASB ASC 825-10-25 Fair Value Option, (“ASC 825-10-25”), expands opportunities to use fair value measurements in financial reporting and permits entities to choose to measure many financial instruments and certain other items at fair value. The Company did not elect the fair value options for any of its qualifying financial instruments.
Customer Advances	The Company receives prepayments from certain customers for pharmaceutical products prior to those customers taking possession of the Company’s products. The Company records these receipts as customer advances until it has met all the criteria for recognition of revenue including passing control of the products to its customer, at such point, the Company will reduce the customer and deposits balance and credit the Company’s revenues.
Revenue Recognition	The Company adopted the modified retrospective adoption in accordance with ASC 606, Revenue from Contracts with Customers, on January 1, 2018. The new guidance introduces a five-step model for recognizing revenue by applying the following steps: (1) identify the contract with the customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the performance obligations are satisfied by transferring the promised goods to the customer. Once these steps are met, revenue is recognized upon delivery of the product. Adoption of ASC 606 has not changed the timing and nature of the Company’s revenue recognition and there has been no material effect on the Company’s consolidated financial statements.
Stock-based Compensation	The Company records stock-based compensation in accordance with ASC 718, Stock Compensation (“ASC 718”) and Staff Accounting Bulletin No. 107 (“SAB 107”) issued by the SEC in March 2005 regarding its interpretation of ASC 718. ASC 718 requires the fair value of all stock-based employee compensation awarded to employees to be recorded as an expense over the related requisite service period. The Company values any employee or non-employee stock-based compensation at fair value using the Black-Scholes Option Pricing Model. The Company accounts for non-employee share-based awards in accordance with the measurement and recognition criteria of ASU 2018-07, Compensation-Stock Compensation.
Foreign Currency Translations and Transactions	Assets and liabilities of all foreign operations are translated at year-end rates of exchange, and the statements of operations are translated at the average rates of exchange for the year. Gains or losses resulting from translating foreign currency financial statements are accumulated in a separate component of stockholders’ equity until the entity is sold or substantially liquidated. Gains or losses from foreign currency transactions (transactions denominated in a currency other than the entity’s local currency) are included in net earnings.
Concentrations of Credit Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash investments and accounts receivable. The following tables show the number of the Company’s clients which contributed 10% or more of revenue and accounts receivable, respectively: Year Ended December 31, Year Ended December 31, 2019 2018 Number of 10% clients 0 2 Percentage of total revenue n/a 26.49 % Percentage of total AR n/a 4.94 %
Income Taxes	The Company accounts for income taxes under the asset and liability method, as required by the accounting standard for income taxes ASC 740. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as net operating loss carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company is liable for income taxes in Greece and the United Kingdom of England. The corporate income tax rate is 29% in Greece (tax losses are carried forward for five years effective January 1, 2013) and 20% in United Kingdom of England. Losses may also be subject to limitation under certain rules regarding change of ownership. We regularly review deferred tax assets to assess their potential realization and establish a valuation allowance for portions of such assets to reduce the carrying value if we do not consider it to be more likely than not that the deferred tax assets will be realized. Our review includes evaluating both positive (e.g., sources of taxable income) and negative (e.g., recent historical losses) evidence that could impact the realizability of our deferred tax assets. At December 31, 2019 the Company has maintained a valuation allowance against all net deferred tax assets in each jurisdiction in which it is subject to income tax. The Company periodically reviews the uncertainties and judgments related to the application of complex income tax regulations to determine income tax liabilities in several jurisdictions. The Company uses a “more likely than not” criterion for recognizing the income tax benefit of uncertain tax positions and establishing measurement criteria for income tax benefits. The Company has evaluated the impact of these positions and due to the fact that the fiscal years 2013 - 2014 are unaudited by the Greek tax authorities, a potential tax liability has been identified, which may arise from a prospective tax audit from tax authorities, based on the tax settlement note of years 2007 - 2009. The amount of the liability as of December 31, 2019 and 2018, was $79,716 and $145,504, respectively, and has been recorded as a long-term liability within the consolidated balance sheets.
Retirement and Termination Benefits	Under Greek labor law, employees are entitled to lump-sum compensation in the event of termination or retirement. The amount depends on the employee’s work experience and renumeration as of the day of termination or retirement. If an employee remains with the company until full-benefit retirement, the employee is entitled to a lump-sum equal to 40% of the compensation to be received if the employee were to be dismissed on the same day. The Company periodically reviews the uncertainties and judgements related to the application of the relevant labor law regulations to determine retirement and termination benefits obligations of its Greek subsidiaries. The Company has evaluated the impact of these regulations and has identified a potential retirement and termination benefits liability. The amount of the liability as of December 31, 2019 and December 31, 2018, was $77,170 and $23,340, respectively, and has been recorded as a long-term liability within the consolidated balance sheets.
Basic and Diluted Net Income (Loss) per Common Share	Basic income per share is calculated by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income per share is calculated by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options and warrants to purchase common stock, using the treasury stock method. In accordance with ASC 260, Earnings Per Share, the following table reconciles basic shares outstanding to fully diluted shares outstanding. Years Months Ended December 31, 2019 2018 Weighted average number of common shares outstanding Basic 13,273,596 13,306,612 Potentially dilutive common stock equivalents 42,808 257,155 Weighted average number of common and equivalent shares outstanding – Diluted 13,273,596 13,306,612 Common stock equivalents are included in the diluted income per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented.
Recent Accounting Pronouncements	In February 2016, the FASB issued ASU 2016-02, Leases, which requires lessees to recognize most leases on their balance sheets as a right-of-use asset with a corresponding lease liability. Lessor accounting under the standard is substantially unchanged. Additional qualitative and quantitative disclosures are also required. The Company adopted the standard effective January 1, 2019 using the cumulative-effect adjustment transition method, which applies the provisions of the standard at the effective date without adjusting the comparative periods presented. The Company adopted the following practical expedients and elected the following accounting policies related to this standard update: · The option to not reassess prior conclusions related to the identification, classification and accounting for initial direct costs for leases that commenced prior to January 1, 2019. · Short-term lease accounting policy election allowing lessees to not recognize right-of-use assets and liabilities for leases with a term of 12 months or less; and · The option to not separate lease and non-lease components for certain equipment lease asset categories such as freight car, vehicles and work equipment. · The package of practical expedients applied to all of its leases, including (i) not reassessing whether any expired or existing contracts are or contain leases, (ii) not reassessing the lease classification for any expired or existing leases, and (iii) not reassessing initial direct costs for any existing leases. Adoption of this standard resulted in the recognition of operating lease right-of-use assets and corresponding lease liabilities of $622,765 and $538,467, respectively, on the condensed consolidated balance sheet as of January 1, 2019. The Company’s accounting for finance leases remained substantially unchanged. The standard did not materially impact operating results or liquidity. Disclosures related to the amount, timing and uncertainty of cash flows arising from leases are included in Note 13. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350), which simplifies the measurement of goodwill by eliminating Step 2 from the current goodwill impairment test in the event that there is evidence of an impairment based on qualitative or quantitative assessments. ASU 2017-04 does not change how the goodwill impairment is identified, and the Company will continue to perform a qualitative assessment annually to determine whether the two-step impairment test is required. Until the adoption, current accounting standards require the impairment loss to be recognized under Step 2 of the impairment test. This requires the Company to calculate the implied fair value of goodwill by assigning fair value to the reporting unit’s assets and liabilities as if the reporting unit has been acquired in a business combination, then subsequently subtracting the implied goodwill from the carrying amount of the goodwill. The new standard would require the Company to determine the fair value of the reporting unit and subtract the carrying value from the fair value of the reporting unit to determine if there is an impairment. ASU 2017-04 is effective for the Company for fiscal years beginning after December 15, 2019, and early adoption is permitted. ASU 2017-04 is required to be adopted prospectively, and the adoption is effective for annual goodwill impairment tests performed in the year of adoption. The adoption of ASU No. 2017-04 is not expected to have a material effect on the Company’s consolidated financial position or the Company’s consolidated results of operations. Management does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s financial statements.

ORGANIZATION AND NATURE OF BU_3

ORGANIZATION AND NATURE OF BUSINESS (Tables)	12 Months Ended
	Dec. 31, 2019
ORGANIZATION AND NATURE OF BUSINESS (Tables)
Schedule of foreign exchange rates	December 31, 2019 December 31, 2018 Exchange rate on balance sheet dates EUR: USD exchange rate 1.1227 1.1456 GBP: USD exchange rate 1.3185 1.2734 Average exchange rate for the period EUR: USD exchange rate 1.1194 1.1817 GBP: USD exchange rate 1.2767 1.3348
Property and equipment	Estimated Useful Life Leasehold improvements and technical works Lesser of lease term or 40 years Vehicles 6 years Machinery 20 years Furniture, fixtures and equipment 5–10 years Computers and software 3-5 years
Measured and recognized at fair value	December 31, 2019 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ 33,000 - - $ 33,000 Marketable securities – Divsersa S.A. 200,290 - - 200,290 Marketable securities – National Bank of Greece 5,650 - - 5,650 $ 238,940 $ 238,940 December 31, 2018 Total Carrying Level 1 Level 2 Level 3 Value Marketable securities – ICC International Cannabis Corp. $ 2,500,000 - - $ 2,500,000 Marketable securities – Divsersa S.A. 210,790 - - 210,790 Marketable securities – National Bank of Greece 2,100 - - 2,100 $ 2,712,890 $ 2,712,890
Schedule of contribution towards revenue and account receivable	Year Ended December 31, Year Ended December 31, 2019 2018 Number of 10% clients 0 2 Percentage of total revenue n/a 26.49 % Percentage of total AR n/a 4.94 %
Basic and Diluted Net Loss per Common Share	Years Months Ended December 31, 2019 2018 Weighted average number of common shares outstanding Basic 13,273,596 13,306,612 Potentially dilutive common stock equivalents 42,808 257,155 Weighted average number of common and equivalent shares outstanding – Diluted 13,273,596 13,306,612

ACQUISITION OF COSMOFARM, LTD (

ACQUISITION OF COSMOFARM, LTD (Tables)	12 Months Ended
	Dec. 31, 2019
ACQUISITION OF COSMOFARM, LTD (Tables)
Unaudited allocation of purchase price	Allocation Current assets $ 6,882,286 Intangible assets 213,790 Other assets 1,519,345 Total assets acquired 8,615,421 Liabilities assumed: Accounts payable and other current liabilities 5,111,489 Advances from customers 1,192,600 Line of credit 1,900,388 Other liabilities 232,729 Total liabilities assumed 8,437,206 Net assets acquired 178,215 Consideration: Promissory note 227,912 Goodwill $ 49,697
Intangible assets	Amount Useful Life (Years) Trademark $ 36,997 5 Customer base 176,793 10 $ 213,790 -

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
INVESTMENTS (Tables)
Summary the gains and losses	Net gains and losses recognized during the period on equity securities $ (1,220,085 ) Less: Net gains and losses recognized during the period on equity securities sold during the period 158,282 Unrealized gains and losses recognized during the period on equity securities still held at the reporting date $ (1,061,803 )

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2019
PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment, net	2019 2018 Leasehold improvements $ 548,000 $ 369,437 Vehicles 115,055 117,402 Furniture, fixtures and equipment 1,439,839 1,167,798 Computers and software 85,052 55,169 2,187,946 1,709,806 Less: Accumulated depreciation (453,165 ) (284,174 ) Total $ 1,734,781 $ 1,425,632

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2019
INTANGIBLE ASSETS (Tables)
Intangible assets	2019 2018 License $ 50,000 $ 50,000 Trade name /mark 36,997 36,997 Customer Base 176,793 176,793 263,790 211,683 Less: Accumulated amortization (49,806 ) (16,720 ) Subtotal 213,984 247,070 Goodwill 49,697 49,697 Total $ 263,681 $ 296,767

CAPITAL STRUCTURE (Tables)

CAPITAL STRUCTURE (Tables)	12 Months Ended
	Dec. 31, 2019
CAPITAL STRUCTURE (Tables)
Summary of assets and liabilities	December 31, 2018 Cash and cash equivalents $ 683 Accounts receivable 13,421 Accounts payable and accrued expenses (8,775 ) Loans payable - related party (9,501 ) Taxes payable (1,423,674 ) Accumulated other comprehensive loss 1,287,010 Total liabilities extinguished (140,836 ) Proceeds due from sale of subsidiary (5,811 ) Gain on sale of Amplerissimo $ (146,647 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
INCOME TAXES (Tables)
Schedule of income before income tax domestic and foreign	12/31/2019 12/31/2018 Domestic $ (2,515,360 ) $ (8,731,677 ) Foreign (600,790 ) (311,655 ) $ (3,116,150 ) $ (9,043,332 )
Schedule of provision for income taxes	12/31/2019 12/31/2018 Current tax provision Federal $ - $ - State - - Foreign 182,815 17,326 Total current tax provision $ 182,815 $ 17,326 Deferred tax provision Domestic $ - $ - State - - Foreign Total deferred tax provision $ - $ - Total current provision $ 182,815 $ 17,326
Summary of U.S. federal statutory rate	12/31/2019 12/31/2018 US Loss before income taxes $ (3,116,150 ) $ (8,731,677 ) Taxes under statutory US tax rates $ (654,391 ) $ (1,833,652 ) Increase (decrease) in taxes resulting from: Increase in valuation allowance $ 1,521,175 $ 554,452 Foreign tax rate differential $ 9,028 $ 164,394 Permanent differences $ 94,520 $ 1,628,906 Purchase price adjustments $ - $ 25,202 Prior period adjustments $ (713,466 ) $ (375,828 ) State taxes $ (74,051 ) $ (146,148 ) Income tax expense $ 182,815 $ 17,326
Significant components of deferred tax assets and liabilities	12/31/2019 12/31/2018 Net operating loss carryforward $ 1,270,650 $ 904,877 Capital loss carryforward 801,744 - Nonqualified stock options 184,545 187,513 Accrued expenses 7,389 - Depreciation 2,418 1,602 Mark to market adjustment in securities 348,422 - Total deferred tax assets 2,615,168 1,093,992 Intangibles (10,729 ) (10,729 ) Goodwill (14,473 ) (14,473 ) Total deferred tax liabilities (25,202 ) (25,202 ) Valuation allowance (2,589,966 ) (1,068,790 ) Net deferred tax assets (liabilities) $ - $ -

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
Summary of related party notes payable	2019 2018 Beginning Balance $ 1,793,437 $ 97,979 Transfer of third-party debt - 1,718,400 Payments (382,055 ) (18,330 ) Foreign currency translation (35,850 ) (4,612 ) Ending Balance $ 1,375,532 $ 1,793,437
Summary of related party loans payable	2019 2018 Beginning Balance $ 1,775,251 $ 7,213 Proceeds 585,915 2,408,965 Payments (262,226 ) (631,166 ) Conversion of debt (1,050,000 ) - Disposal of subsidiary - (9,501 ) Reclassification of receivable 2,547 - Foreign currency translation (25,223 ) (260 ) Ending Balance $ 1,026,264 $ 1,775,251

LINES OF CREDIT (Tables)

LINES OF CREDIT (Tables)	12 Months Ended
	Dec. 31, 2019
LINES OF CREDIT (Tables)
Summary of lines of credit	2019 2018 National $ 1,940,045 $ 766,575 Alpha 810,947 461,178 Eurobank - 286,829 Total $ 2,750,992 $ 1,514,582

CONVERTIBLE DEBT (Tables)

CONVERTIBLE DEBT (Tables)	12 Months Ended
	Dec. 31, 2019
CONVERTIBLE DEBT (Tables)
Summary of convertible debt	2019 2018 Beginning balance notes 365,513 3,110,714 New notes 1,500,000 2,233,332 Exchange agreement and debt modification - 344,570 Payments (365,513 ) (3,557,381 ) Conversions - (1,765,721 ) Subtotal notes 1,500,000 365,513 Debt discount at year end (29,509 ) (229,713 ) Note payable net of discount 1,470,491 135,800

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2019
DEBT (Tables)
Summary of debt	December 31, 2019 Loan Facility Bridge Loans Trade Facility Third Party Total Beginning balance $ 3,078,442 $ 191,287 $ 6,291,199 $ 242,805 $ 9,803,733 Proceeds - - - 2,500,000 2,500,000 Payments - - - (227,912 ) (227,912 ) Foreign currency translation - - (45,799 ) (298 ) (46,097 ) Ending Balance $ 3,078,442 $ 191,287 $ 6,245,400 $ 2,514,595 $ 12,029,724 December 31, 2018 Loan Facility Bridge Loans Trade Facility Third Party Debt Discount Total Beginning balance $ 3,118,442 $ 204,965 $ 6,728,605 $ 27,651 $ (126,763 ) $ 9,952,900 Proceeds - - 312,309 1,580,000 - 1,892,309 Payments - - (1,156,700 ) (90,000 ) - (1,246,700 ) Transfer to related party - - - (1,500,000 ) - (1,500,000 ) Forgiveness of debt (40,000 ) (13,678 ) - - - (53,678 ) Amendment - - 661,645 - - 661,645 Acquisition of Cosmofarm - - - 227,912 - 227,912 Foreign currency translation - - (254,660 ) (2,758 ) - (257,418 ) Amortization - - - - 126,763 126,763 Ending Balance $ 3,078,442 $ 191,287 $ 6,291,199 $ 242,805 $ - $ 9,803,733

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
LEASES (Tables)
Summary of operating leases	Maturity of Lease Liability 2020 $ 167,694 2021 83,144 2022 53,890 2023 53,890 Thereafter 255,976 Total undiscounted finance lease payments $ 614,593 Less: Imputed interest 122,013 Present value of finance lease liabilities $ 492,580 Maturity of Lease Liability 2019 $ 65,556 2020 44,373 2021 26,472 2022 14,685 2023 4,126 Thereafter - Total undiscounted finance lease payments $ 155,212 Less: Imputed interest 14,504 Present value of finance lease liabilities $ 140,708

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2019
EARNINGS PER SHARE
Summary of earning per share	2019 2018 Numerator for Basic and Diluted Earnings Per Share: Net loss $ (3,298,965 ) $ (9,060,658 ) Denominator for Basic Earnings Per Share: Weighted Average Shares 13,273,596 13,306,612 Potentially Dilutive Common Shares - - Adjusted Weighted Average Shares 13,273,596 13,306,612 Basic and Diluted Net (Loss) Income per Share (0.25 ) (0.68 )
Summary of potential shares	2019 2018 Common stock warrants - 144,338 Common Stock Options 42,808 60,437 Convertible Debt - 52,381 Total 42,808 257,155

STOCK OPTIONS AND WARRANTS (Tab

STOCK OPTIONS AND WARRANTS (Tables)	12 Months Ended
	Dec. 31, 2019
STOCK OPTIONS AND WARRANTS (Tables)
Schedule of option activity during the year	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Options Shares Price Term Value Balance Outstanding, December 31, 2017 49,000 $ 1.49 3.19 $ - Granted 25,000 1.00 4.00 - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2018 74,000 $ 1.32 2.47 $ 198,000 Granted - - - - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2019 74,000 $ 1.32 1.47 $ 64,800 Exercisable, December 31, 2019 74,000 $ 1.32 1.47 $ 64,800
Significant assumptions of fair values of warrants	2018 Market value of underlying stock $ 6.40 Volatility 111.51%-254.07 % Expected term (in years) 5 – 5.5 Risk-free interest rate 2.77% -2.78 % Expected dividend yield None
Summary of warrant activity during the year	Weighted Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Warrants Shares Price Term Value Balance Outstanding, December 31, 2017 599,640 $ 7.65 5.29 $ 1,725,921 Granted 1,111,073 - - - Forfeited (536,000 ) - - - Exercised - - - - Expired (10,040 ) - - - Balance Outstanding, December 31, 2018 1,164,673 $ 6.41 5.01 $ - Granted - - - - Forfeited - - - - Exercised - - - - Expired - - - - Balance Outstanding, December 31, 2019 1,164,673 $ 6.41 4.01 $ - Exercisable, December 31, 2019 1,164,673 $ 6.41 4.01 $ -

DISAGGREGATION OF REVENUE (Tabl

DISAGGREGATION OF REVENUE (Tables)	12 Months Ended
	Dec. 31, 2019
DISAGGREGATION OF REVENUE (Tables)
Revenue disaggregated by country	Country 2019 2018 Belgium $ - $ 4,230 Croatia 22,497 - Denmark 97,905 430,932 France 153,422 388,944 Georgia 5,301 - Germany 6,672,511 14,783,119 Greece 26,101,316 2,970,219 Hungary 1,094,446 1,673,287 Indonesia 7,172 6,449 Ireland 467,965 1,519,746 Italy 196,044 481,141 Jordan 20,144 162,749 Libya 396,333 3,860,021 Netherlands 846,479 886,218 Poland 307,624 - Spain - 8,724 Turkey 24,347 - UK 3,262,880 9,908,103 Total $ 39,676,385 $ 37,083,882

ORGANIZATION AND NATURE OF BU_4

ORGANIZATION AND NATURE OF BUSINESS (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
EURO [Member]
Exchange rate on balance sheet dates
USD exchange rate	1.1227	1.1456
Average exchange rate for the period
USD average exchange rate	1.1194	1.1817
GBP [Member]
Exchange rate on balance sheet dates
USD exchange rate	1.3185	1.2734
Average exchange rate for the period
USD average exchange rate	1.2767	1.3348

ORGANIZATION AND NATURE OF BU_5

ORGANIZATION AND NATURE OF BUSINESS (Details 1)	12 Months Ended
	Dec. 31, 2019
Furniture, fixtures and equipment [Member] | Minimum [Member]
Estimated Useful Life	5 years
Furniture, fixtures and equipment [Member] | Maximum [Member]
Estimated Useful Life	10 years
Computers and software [Member] | Minimum [Member]
Estimated Useful Life	3 years
Computers and software [Member] | Maximum [Member]
Estimated Useful Life	5 years
Leasehold improvements and technical works [Member]
Estimated Useful Life	40 years
Machinery [Member]
Estimated Useful Life	20 years
Vehicles [Member]
Estimated Useful Life	6 years

ORGANIZATION AND NATURE OF BU_6

ORGANIZATION AND NATURE OF BUSINESS (Details 2) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Fair value of assets and liabilities	$ 238,940	$ 2,712,890
Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities	33,000	2,500,000
Marketable securities - Divsersa S.A. [Member]
Fair value of assets and liabilities	200,290	210,790
Marketable securities - National Bank of Greece [Member]
Fair value of assets and liabilities	5,650	2,100
Level 1 [Member]
Fair value of assets and liabilities	238,940	2,712,890
Level 1 [Member] | Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities	33,000	2,500,000
Level 1 [Member] | Marketable securities - Divsersa S.A. [Member]
Fair value of assets and liabilities	200,290	210,790
Level 1 [Member] | Marketable securities - National Bank of Greece [Member]
Fair value of assets and liabilities	5,650	2,100
Level 2 [Member]
Fair value of assets and liabilities
Level 2 [Member] | Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities
Level 2 [Member] | Marketable securities - Divsersa S.A. [Member]
Fair value of assets and liabilities
Level 2 [Member] | Marketable securities - National Bank of Greece [Member]
Fair value of assets and liabilities
Level 3 [Member]
Fair value of assets and liabilities
Level 3 [Member] | Marketable securities - ICC International Cannabis Corp. [Member]
Fair value of assets and liabilities
Level 3 [Member] | Marketable securities - Divsersa S.A. [Member]
Fair value of assets and liabilities
Level 3 [Member] | Marketable securities - National Bank of Greece [Member]
Fair value of assets and liabilities

ORGANIZATION AND NATURE OF BU_7

ORGANIZATION AND NATURE OF BUSINESS (Details 3) - integer	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
ORGANIZATION AND NATURE OF BUSINESS (Details 3)
Number of 10% clients	0	2
Percentage of total revenue		26.49%
Percentage of total AR		4.94%

ORGANIZATION AND NATURE OF BU_8

ORGANIZATION AND NATURE OF BUSINESS (Details 4) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
ORGANIZATION AND NATURE OF BUSINESS (Details 4)
Weighted average number of common shares outstanding Basic	13,273,596	13,306,612
Potentially dilutive common stock equivalents	42,808	257,155
Weighted average number of common and equivalent shares outstanding - Diluted	13,273,596	13,306,612

ORGANIZATION AND NATURE OF BU_9

ORGANIZATION AND NATURE OF BUSINESS (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Nov. 21, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 19, 2018	Sep. 30, 2018	Sep. 29, 2018	Jan. 01, 2018	Feb. 10, 2017	Sep. 27, 2013
State or country of incorporation		Nevada
Cash equivalents		$ 52,489	$ 166,350
Date of incorporation		Jul. 21, 2009
Equity investment			2,500,000
Reverse stock split, description	the Company effected a one-for-ten (1:10) reverse stock split whereby the Company decreased, by a ratio of one-for-ten (1:10) the number of issued and outstanding shares of Common Stock.
Other investments			212,890
Revenue		$ 39,676,385	37,083,882
Other investments, ending balance			4,471
Marketable securities			2,712,890
Net loss		(3,298,965)	(9,060,658)
Value added tax receivable		136,891	729,790
Right-of-use assets		622,765
Lease liabilities		538,467
Working capital deficit		(7,062,520)
Accumulated deficit		(19,571,610)	(16,272,645)
TOTAL STOCKHOLDERS' DEFICIT		(6,460,829)	(3,317,450)				$ (3,027,844)
Allowance for doubtful accounts		529,252	540,048
Depreciation expense		201,000	34,623
Amortization of intangible assets		33,086	9,307
Goodwill				$ 49,697
NET CASH USED IN OPERATING ACTIVITIES		(4,788,842)	(1,555,306)
Long-term liability		79,716	145,504
Potential retirement and termination benefits liability		$ 77,170	23,340
Promissory note purchase price				227,000
Promissory Note [Member]
Promissory note purchase price				$ 200,000
Import/export license [Member]
Estimated Useful Life		5 years
United Kingdom [Member]
Cash equivalents		$ 4,080	119,357
Cyprus Greece and Bulgaria [Member]
Cash equivalents		10,987	203,806
United States [Member]
Cash equivalents		14,451	242,903
Greece [Member]
Revenue		$ 26,101,316	2,970,219
Income tax rate		29.00%
United Kingdom of England [Member]
Income tax rate		20.00%
Amplerissimo Ltd [Member]
Equity ownership percentage									100.00%
Ownership interest sold					100.00%
Pancreta bank [Member]
Equity method investment shares acquired, value		$ 4,381
SkyPharm [Member]
Revenue		1,057,916	$ 1,247,208
Equity ownership percentage						100.00%
Percentage of ownership interest transferred to company by Amplerissimo						22.00%
Institutional Noteholder [Member] | Stock Purchase Agreement [Member]
Common stock shares reserved								170,000
Diversa S.A. [Member]
Equity method investment shares acquired, value		$ 200,290
Equity method investment shares acquired, shares		40,000
Closing price		$ 5.01
National Bank of Greece [Member]
Equity method investment shares acquired, value		$ 5,650
Equity method investment shares acquired, shares		16,666
Closing price		$ 0.34
ICC International Cannabis Corp [Member]
Equity method investment shares acquired, value		$ 33,000
Equity method investment shares acquired, shares		3,000,000
Closing price		$ 0.01

ACQUISITION OF COSMOFARM, LTD.

ACQUISITION OF COSMOFARM, LTD. (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 19, 2018	Dec. 31, 2017
Current assets	$ 21,178,735	$ 18,347,162
Intangible assets	263,681	296,767
Other assets	702,439	625,392
Total assets acquired	23,879,636	20,694,953
Liabilities assumed:
Accounts payable and other current liabilities	8,561,681	5,933,464
Advances from customers	247,318	1,067,200
Total liabilities assumed	30,340,465	24,012,403
Consideration:
Promissory note		2,680,000
Goodwill			$ 49,697
Cosmofarm [Member]
Current assets		6,882,286
Intangible assets		213,790
Other assets		1,519,345
Total assets acquired		8,615,421
Liabilities assumed:
Accounts payable and other current liabilities		5,111,489
Advances from customers		1,192,600
Line of credit		1,900,388
Other liabilities		232,729
Total liabilities assumed		8,437,206
Net assets acquired		178,215
Consideration:
Promissory note		227,912
Goodwill		$ 49,697

ACQUISITION OF COSMOFARM, LTD_2

ACQUISITION OF COSMOFARM, LTD. (Details 1)	12 Months Ended
	Dec. 31, 2019USD ($)
Acquired intangible assets	$ 213,790
Trademark [Member]
Acquired intangible assets	$ 36,997
Acquired intangible assets, Useful Life (Years)	5 years
Customer base [Member]
Acquired intangible assets	$ 176,793
Acquired intangible assets, Useful Life (Years)	10 years

ACQUISITION OF COSMOFARM, LTD_3

ACQUISITION OF COSMOFARM, LTD. (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 19, 2018
Cash received from acquisition	$ 307,590
Promissory note purchase price		$ 227,000
Business acquisition outstanding percentage	100.00%
Cosmofarm SPA [Member]
Business acquisition outstanding percentage		100.00%

INVESTMENTS (Details)

INVESTMENTS (Details)	12 Months Ended
	Dec. 31, 2019USD ($)
INVESTMENTS (Tables)
Net gains and losses recognized during the period on equity securities	$ (1,220,085)
Less: Net gains and losses recognized during the period on equity securities sold during the period	158,282
Unrealized gains and losses recognized during the period on equity securities still held at the reporting date	$ (1,061,803)

INVESTMENTS (Details Narrative)

INVESTMENTS (Details Narrative)	1 Months Ended	6 Months Ended	12 Months Ended
	Jul. 16, 2018USD ($)shares	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2019EUR (€)shares	Dec. 31, 2019CAD ($)shares	Dec. 31, 2018USD ($)	May 17, 2018shares
Equity interest acquired, percentage			100.00%
Cash received with accounting associated			$ 2,000,000
Marketable securities						$ 2,712,890
Gain on exchange of investment						(2,500,000)
Marathon Global Inc [Member]
Gain on exchange of investment			1,953,000
Kaneh Bosm Biotechnology Inc [Member] | Share Exchange Agreement [Member]
Transfer of shares | shares							2,500,000
Kaneh Bosm Biotechnology Inc [Member] | Share Exchange Agreement [Member] | Canadian Securities Exchange [Member]
Exchange of shares | shares							5,000,000
Share exchange agreement [Member] | ICC [Member]
Additional shares issued value			33,000
Equity method investment shares acquired | shares	5,000,000
Description for ownership percentage	The ten million shares of ICC owned by the Company constitute approximately 7% of the 141,219,108 shares of capital stock of KBB then issued and outstanding
Loss on sale of equity investments			$ 1,528,162
Additional shares issued | shares			3,000,000
Equity investment			$ 33,000			2,500,000
Common stock shares sold during the period | shares			7,000,000	7,000,000	7,000,000
Proceeds from sold of common shares			$ 1,261,718
Unrealized loss on exchange of investment						1,545,200
Unrealized gain net			$ 322,880			$ 2,500,000
Share exchange agreement [Member] | Marathon Global Inc [Member]
Shares of Marathon transferred by company to KBB | shares	2,500,000
Gain on exchange of investment	$ 2,092,200
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member]
Equity interest acquiredpercentage, description			33 1/3% equity ownership interest	33 1/3% equity ownership interest	33 1/3% equity ownership interest	33 1/3% equity ownership interest
Cash received upon repayment for purchase common stock					$ 2,000,000
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales One [Member]
Cash received upon gross sales					2,750,000
Gross sales					13,000,000
Distribution and Equity Acquisition Agreement [Member] | Marathon Global Inc [Member] | Gross Sales [Member]
Cash received upon gross sales					2,750,000
Gross sales					$ 6,500,000
Marketable securities - Divsersa S.A. [Member]
Closing price of shares | $ / shares			$ 5.01
Shares issued as marketable securities | shares			40,000
Marketable securities - National Bank of Greece [Member]
Closing price of shares | $ / shares			$ 0.34
Marketable securities			$ 5,651
Shares issued as marketable securities | shares			16,666
Cosmo Farmacy LP [Member]
Cash recognized by acquisition			$ 221,457
Investement			$ 163,575
Initial share capital				€ 150,000
Initial share capital increased				500,000
Pharmacy license value				€ 350,000
Maturity period of license			30 years	30 years	30 years
Ownership equity		70.00%
cash contributed to limited partner				€ 150,000
Equity ownership remaining		30.00%

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Property plant and equipment	$ 2,187,946	$ 1,709,806
Less: Accumulated depreciation	(453,165)	(284,174)
Total	1,734,781	1,425,632
Computers and software [Member]
Property plant and equipment	85,052	55,169
Vehicles [Member]
Property plant and equipment	115,055	117,402
Leasehold Improvements [Member]
Property plant and equipment	548,000	369,437
Furniture, fixtures and equipment [Member]
Property plant and equipment	$ 1,439,839	$ 1,167,798

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Intangible assets	$ 263,790	$ 211,683
Less: Accumulated Amortization	(49,806)	(16,720)
Subtotal	213,984	247,070
Goodwill	49,697	49,697
Total	263,681	296,767
Trade Name / Mark [Member]
Intangible assets	36,997	36,997
Customer Base [Member]
Intangible assets	176,793	176,793
License [Member]
Intangible assets	$ 50,000	$ 50,000

CAPITAL STRUCTURE (Details)

CAPITAL STRUCTURE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 38,537	$ 864,343
Accumulated other comprehensive loss	(16,339)	32,828
Gain on sale of Amplerissimo		146,647
Amplerissimo [Member]
Cash and cash equivalents		683
Accounts receivable		13,421
Accounts payable and accrued expenses		(8,775)
Loans payable - related party		(9,501)
Taxes payable		(1,423,674)
Accumulated other comprehensive loss		1,287,010
Total liabilities extinguished		(140,836)
Proceeds due from sale of subsidiary		(5,811)
Gain on sale of Amplerissimo		$ (146,647)

CAPITAL STRUCTURE (Details Narr

CAPITAL STRUCTURE (Details Narrative) - USD ($)	Feb. 05, 2019	Jan. 07, 2019	Jun. 20, 2019	Feb. 18, 2019	Nov. 30, 2018	Sep. 29, 2018	Jun. 18, 2018	Dec. 19, 2017	May 25, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Common stock, shares, outstanding										12,860,059	13,685,067
Common stock, shares issued										13,225,387	13,878,757
Common stock shares authorized										300,000,000	300,000,000	300,000,000
Preferred stock shares authorized										100,000,000	100,000,000	100,000,000
Cancellation of pre-delivery shares issued in connection with convertible debentures	108,417	465,325
Common stock value										$ 13,225	$ 13,879
Related party accrual for repurchase of shares of common stock											48,683
Gain on sale of Amplerissimo											146,647
Revenue										39,676,385	37,083,882
SkyPharm [Member]
Purchase price						$ 2,528
Ownership percentage						100.00%
Percentage of ownership interest transferred to company by amplerissimo						22.00%
Revenue										1,057,916	$ 1,247,208
Amplerissimo Ltd [Member] | Fiscal 2018 [Member]
Revenue										$ 7,639,022
Stock Purchase Agreement [Member] | Institutional Noteholder [Member]
Common stock, shares purchased	193,408
Cancellation and transfer of shares										193,408
Payment made against shares purchased										$ 580,224
Common stock, purchase price	$ 3
Aggregate common stock value	$ 580,224
Stock Purchase Agreement [Member] | Institutional Noteholder One [Member]
Common stock, shares purchased				83,341
Cancellation and transfer of shares										26,221
Treasury stock, shares transferred										57,120
Payment made against shares purchased										$ 250,023
Common stock, purchase price				$ 3
Aggregate common stock value				$ 250,023
Stock Purchase Agreement [Member] | Former Officer and Director [Member]
Repurchased of common shares			114,518
Consideration paid against shares			$ 15,000							15,000
Consulting agreement [Member]
Common stock, shares issued									20,000
Commencing agreement date									May 25, 2017
Consulting agreement period									20 months
Common stock value									$ 154,000
Price per share									$ 7.70
Consultant charges									$ 56,138
Consulting expense yet to be recognized									$ 92,299
Tranche [Member]
Purchase of treasury stock from officer												$ 33,073
Related party accrual for repurchase of shares of common stock												61,422
Tranche 1 [Member]
Purchase of treasury stock from officer											$ 63,446
Gain/Loss of change in foreign currency											2,024
Tranche 2 [Member]
Purchase of treasury stock from officer											69,178
Gain/Loss of change in foreign currency											$ 434
Share purchase agreement [Member] | Amplerissimo Ltd [Member] | Fiscal 2018 [Member]
Purchase price										5,811
Gain on sale of Amplerissimo										146,647
Director [Member] | Stock Purchase Agreement [Member]
Purchase of treasury stock from officer					$ 60,000		$ 69,612	$ 94,495
Purchase of treasury stock, shares					20,000		15,000	20,000
Employee [Member] | Potentially dilutive securities [Member] | On January 1, 2018 [Member]
Stock options granted										25,000
Exercise period										4 years
Exercise price										$ 1
Stock options vested										25,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Loss before provision for income taxes	$ (3,116,150)	$ (9,043,332)
Domestic [Member]
Loss before provision for income taxes	(2,515,360)	(8,731,677)
Foreign [Member]
Loss before provision for income taxes	$ (600,790)	$ (311,655)

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Current tax provision
Federal
State
Foreign	182,815	17,326
Total current tax provision	182,815	17,326
Deferred tax provision
Domestic
State
Foreign
Total deferred tax provision
Total current provision	$ 182,815	$ 17,326

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - US [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Loss before income taxes	$ (3,116,150)	$ (8,731,677)
Taxes under statutory US tax rates	(654,391)	(1,833,652)
Increase (decrease) in taxes resulting from:
Increase in valuation allowance	1,521,175	554,452
Foreign tax rate differential	9,028	164,394
Permanent differences	94,520	1,628,906
Purchase price adjustments		25,202
Prior period adjustments	(713,466)	(375,828)
State taxes	(74,051)	(146,148)
Income tax expense	$ 182,815	$ 17,326

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 19, 2018
Intangibles	$ 263,790	$ 211,683
Goodwill			$ 49,697
Deferred Income Taxes [Member]
Net operating loss carryforward	1,270,650	904,877
Capital loss carryforward	801,744
Nonqualified Stock Options	184,545	187,513
Accrued expenses	7,389
Depreciation	2,418	1,602
Mark to market adjustment to securities	348,422
Total Deferred tax assets	2,615,168	1,093,992
Intangibles	(10,729)	(10,729)
Goodwill	(14,473)	(14,473)
Total Deferred tax liabilities	(25,202)	(25,202)
Valuation allowance	(2,589,906)	(1,068,790)
Net deferred tax assets (liabilities)

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	12 Months Ended
	Dec. 31, 2019USD ($)
Federal Statutory Income Tax Rate, description	Subject to limitation under IRC Section 382. Of the $3.8 million of Federal net operating loss carryforwards, $2.5 million begin to expire in 2031. The remaining balance of $1.3 million is limited in annual usage of 80% of current year’s taxable income, but do not have an expiration.
Net operating loss carry forward	$ 3,800,000
United Kingdom [Member]
Net operating loss carry forward	1,000,000
United States [Member]
Net operating loss carry forward	$ 3,817,475
Expiry	2031
Federal [Member]
Net operating loss carry forward	$ 2,500,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - Notes Payable - Related Party [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Beginning Balance	$ 1,793,437	$ 97,979
Transfer of third-party debt		1,718,400
Payments	(382,055)	(18,330)
Foreign currency translation	(35,850)	(4,612)
Ending Balance	$ 1,375,532	$ 1,793,437

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - Loans Payable - Related Party [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Beginning Balance	$ 1,775,251	$ 7,213
Proceeds	585,915	2,408,965
Payments	(262,226)	(631,166)
Conversion of debt	(1,050,000)
Disposal of subsidiary		(9,501)
Reclassification of receivable	2,547
Foreign currency translation	(25,223)	(260)
Ending Balance	$ 1,026,264	$ 1,775,251

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended						12 Months Ended
	Jun. 24, 2019	Jun. 20, 2019	May 28, 2019	Nov. 30, 2018	Jun. 18, 2018	Dec. 19, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 20, 2018	Dec. 31, 2017	Sep. 30, 2018	Dec. 31, 2016	Jul. 21, 2009
Repayment of related party							$ (382,055)	$ (18,330)
Related party accrual for repurchase of shares of common stock								48,683
Revenue							$ 39,676,385	$ 37,083,882
Shares issued							13,225,387	13,878,757
MediHelm S.A. One [Member]
Accounts payable balance							$ 160,987
MediHelm S.A. [Member]
Accounts payable balance							52,500	53,566
Accounts receivable balance							1,305,779	145,826
Prepaid balance							3,490,639	2,817,953
Net prepaid balance							3,277,152	2,764,387
Officers and directors [Member]
Shares issued													2,000,000
Decahedron [Member]
Payments to acquire businesses							0	958,454
Konstantinos Vassilopoulos [Member]
Borrowing								168,000
Outstanding principal balance								0
Foreign currency translation							(25,223)	(260)
Accrued interest								0
Ourania Matsouki [Member]
Borrowing								34,368		66,121		47,479
Outstanding principal balance								34,368		120,214
Grigorios Siokas Four [Member]
Borrowing							722,762	227,000
Grigorios Siokas Three [Member]
Borrowing							303,502	1,550,799
Outstanding principal balance							1,026,264	1,777,799
Additional proceeds from debt							508,084
Repayment of loans							$ 262,226
Gain on extinguishment of related party debt	$ 269,126		$ 259,999
Debt instrument conversion price	$ 7.50		$ 7.50				$ 7.50
Debt instrument converted amount shares issued	73,334		66,667				140,001
Debt instrument converted amount	$ 550,000		$ 500,000				$ 1,050,000
Grigorios Siokas One [Member]
Borrowing								1,858,965
Repayment of loans								308,166
Grigorios Siokas Two [Member]
Borrowing								382,000
Repayment of loans								155,000
DOC Pharma S.A. [Member]
Payments to acquire businesses							3,464,725	5,431,361
Accounts payable balance							25,346	36,103
Accounts receivable balance							613,264	43,903
Prepaid balance							2,449,484	2,139,109
Net prepaid balance							2,424,138	2,103,006
Revenue							873,041	238,284
Dimitrios Goulielmos [Member]
Outstanding principal balance							14,820	61,290
Repayment of loans							45,245	18,330
Grigorios Siokas [Member]
Borrowing									$ 1,718,400
Outstanding principal balance							1,347,240	1,718,400
Accrued interest							128,447	63,371
Repayment of loans							$ 336,810
Debt instrument converted amount shares issued	73,334		66,667				140,001
Interest rate									4.70%
Maturity date									Mar. 18, 2019
Grigorios Siokas [Member] | October 1, 2016 [Member]
Borrowing							$ 5,276			1,202
Outstanding principal balance								0
Maturity date							Oct. 1, 2017
Debt outstanding amount											$ 6,973
SkyPharm [Member]
Payments to acquire businesses							2,611,286	11,302,842
Revenue							1,057,916	1,247,208
Officer And Director [Member]
Purchase of treasury stock, shares		114,518
Consideration for shares		$ 15,000					$ 15,000
Tranche [Member]
Purchase of treasury stock from officer										33,073
Related party accrual for repurchase of shares of common stock										61,422
Tranche 1 [Member]
Purchase of treasury stock from officer								63,446
Due to related party								0
Purchase of treasury stock from officer								61,448
Stock Purchase Agreement [Member] | Director [Member]
Purchase of treasury stock, shares				20,000	15,000	20,000
Purchase of treasury stock from officer				$ 60,000	$ 69,612	$ 94,495
Stock Purchase Agreement [Member] | Nicholaos Lazarou [Member]
Purchase of treasury stock, shares					15,000	20,000
Purchase of treasury stock from officer					$ 69,912	$ 94,495
Due to related party								48,683
Repayment of related party							48,683
Loan Agreement [Member] | DOC Pharma S.A. [Member]
Accrued interest							1,034
Debt outstanding amount							13,086
Loan Agreement [Member] | DOC Pharma S.A. [Member] | November 1, 2015 [Member]
Outstanding principal balance							13,472	13,747
Accrued interest							1,100	836
Loan payable							12,662
Payment made for existing bills							$ 12,662
Interest rate							2.00%
Foreign currency translation							$ (35,850)	(4,612)
Tranche 2 [Member]
Purchase of treasury stock from officer								69,178
Due to related party								0
Purchase of treasury stock from officer								$ 70,902

LINES OF CREDIT (Details)

LINES OF CREDIT (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Line of credit	$ 2,750,992	$ 1,514,582
Eurobank [Member]
Lines of credit		286,829
Alpha [Member]
Lines of credit	810,947	461,178
National [Member]
Lines of credit	$ 1,940,045	$ 766,575

LINES OF CREDIT (Details Narrat

LINES OF CREDIT (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest expense	$ (1,412,465)	$ (967,824)
Line of Credit [Member]
Interest expense	85,090	32,275
Line of Credit [Member] | National Bank of Greece One [Member]
Borrowing	$ 1,684,050	$ 1,374,720
Percentages of line of credit	6.00%
Interest rate	6.00%	4.35%
Lines of credit	$ 1,940,045	$ 766,576
Line of Credit [Member] | National Bank of Greece Two [Member]
Borrowing	$ 1,122,700
Percentages of line of credit	4.35%
Line of Credit [Member] | Eurobank Bank of Greece [Member]
Borrowing		$ 572,800
Interest rate		8.55%
Lines of credit		$ 286,829
Line of Credit [Member] | Alpha Bank of Greece [Member]
Borrowing	$ 1,122,700	687,360
Interest rate	6.00%
Lines of credit	$ 810,947	$ 461,179

CONVERTIBLE DEBT (Details)

CONVERTIBLE DEBT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CONVERTIBLE DEBT (Details)
Beginning balance notes	$ 365,513	$ 3,110,714
New notes	1,500,000	2,233,332
Exchange agreement and debt modification		344,570
Payments	(365,513)	(3,557,381)
Conversions		(1,765,721)
Subtotal notes	1,500,000	365,513
Debt discount at year end	(29,509)	(229,713)
Note payable net of discount	$ 1,470,491	$ 135,800

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - USD ($)

Dec. 13, 2018

Dec. 12, 2018

Sep. 04, 2018

Jun. 17, 2019

Feb. 20, 2018

Feb. 19, 2018

Nov. 15, 2017

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

May 17, 2019

Feb. 05, 2019

Jan. 07, 2019

Apr. 24, 2018

Convertible notes payable, principal amount

$ 2,680,000

Fair Value of Warrants

$ 157,969

Common stock, par value

$ 0.001

$ 0.001

Debt discount

3,350,000

Amortization of debt discount

$ 392,272

$ 320,205

5,681,613

360,890

Loss on extinguishment of debt

1,464,698

Outstanding principal balance

$ 103,610

Shares issued

13,225,387

13,878,757

Beneficial conversion feature

$ 120,000

$ 934,922

Related Party Debt

1,718,400

Debt modification expense

(1,942,156)

Convertible Notes [Member]

Debt discount

2,233,332

Amortization of debt discount

2,049,232

Outstanding principal balance

261,903

Beneficial conversion feature

$ 1,333,333

Conversion price

$ 3.478

Placement agent [Member] | Roth Capital Partners, LLC [Member]

Fair Value of Warrants

$ 157,969

Amortization of debt discount

$ 184,100

Proceeds from issuance of warrants

$ 140,000

Debt instrument maturity date

Mar. 4, 2019

Interest Rate

5.00%

Maturity period

5 years

Terms of Blocker Provision

Will receive seven (7%) percent of any cash proceeds received from the exercise of any Warrants sold in the offering with an expiration equal to or less than twenty-four (24) months.

Installment fees

$ 13,097

Placement agent [Member] | Warrants [Member] | Roth Capital Partners, LLC [Member]

Debt original issue discount

$ 140,000

Common stock shares issuable upon conversion of debt/convertible securities

26,056

Warrants exercise price

$ 6

Convertible Notes [Member] | September 2018 [Member]

Interest Rate

5.00%

5.00%

Installment fees

$ 13,097

$ 31,905

Event of Default Interest rate

18.00%

Convertible Notes [Member] | Third Exchange Agreement [Member]

Convertible notes payable, principal amount

$ 638,095

Securities Purchase Agreement [Member] | InstitutionalInvestor [Member]

Convertible notes payable, principal amount

$ 1,500,000

Common stock, par value

$ 0.001

Customary events of default, description

The May 2019 Note includes customary Events of Default and provides that the Buyer may require the Company to redeem (regardless of whether the Event of Default has been cured) all or a portion of the Note at a redemption premium of one hundred twenty-five (125%) percent, multiplied by the greater of the conversion rate and the then current market price. The Buyer may also require redemption of the May 2019 Note upon a Change of Control (as defined) at a premium of one hundred twenty-five (125%) percent. The Company has the right to redeem the May 2019 Note at any time, in whole or in part, in cash at a price equal to 120% of the then outstanding conversion amount.

Legal fees

$ 30,000

Conversion price

$ 6

Lines of credit

1,500,000

Common stock shares issuable upon conversion of debt/convertible securities

250,000

Accrued interest

25,334

Amortization of interest expense

$ 90,491

Debt convertible conversion description

Conversion of the May 2019 Note is subject to a blocker provision which prevents any holder from converting the May 2019 Note into shares of common stock if its beneficial ownership of the common stock would exceed 9.99% of the Company’s issued and outstanding common stock.

Interest Rate

19.00%

Cash commission description

Roth Capital Partners, LLC (“Roth”), as the Company’s exclusive placement agent, received a cash commission for this transaction equal to six (6%) percent of the total gross proceeds of the offering. This 6% fee or $90,000 was recorded as debt discount along with the $30,000 in legal fees associated with the May 2019 Note.

Securities Purchase Agreement [Member] | Warrants [Member]

Fair Value of Warrants

$ 910,078

$ 1,545,288

Common stock, par value

$ 6

$ 5

Conditional proceeds from sale of common stock under the agreement

$ 20,000

Proceeds from issuance of warrants

$ 2,686,000

Legal fees

$ 74,000

Debt instrument maturity date

Mar. 1, 2019

Exercise price

7.50

Debt original issue discount

$ 233,332

Common stock shares issuable upon conversion of debt/convertible securities

357,334

536,000

536,000

Amortization of interest expense

$ 347,418

Debt convertible conversion description

The Notes and Warrants on any trading day to not more than such Buyer’s pro rata allocation of the greater of (x) sales with net proceeds of an aggregate of $20,000 or (y) twenty-five (25%) percent of the daily average trading volume of the Company’s Common Stock. If after the closing of the Financing the VWAP of the Company’s common stock for three (3) trading days is less than $1.50 per share, the Company may further restrict the Buyers from selling at less than $1.50 per share;

Maturity period

5 years

5 years

5 years

Warrants exercise price

$ 7.50

$ 7.50

Terms of Blocker Provision

The Notes or the Warrants, into shares of common stock if its beneficial ownership of the common stock would exceed 9.99% of the Company’s issued and outstanding common stock (a “Blocker”).

A blocker provision which prevents any holder from converting or exercising, as applicable, the New Notes or the Warrants, into shares of Common Stock if its beneficial ownership of the Common Stock would exceed 4.99% (subject to adjustment not to exceed 9.99%) of the Company’s issued and outstanding Common Stock (each, a “Blocker”).

Expected volatility

111.51%

Risk-free rate

2.78%

Expected life

5 years

Securities Purchase Agreement [Member] | Warrants [Member] | Roth Capital Partners, LLC [Member]

Common stock shares issuable upon conversion of debt/convertible securities

26,056

Expected volatility

169.29%

Risk-free rate

2.78%

Expected life

5 years

Securities Purchase Agreement [Member] | Leak-out Agreement [Member] | Warrants [Member]

Convertible notes payable, principal amount

$ 3,350,000

432,419

Fair Value of Warrants

386,003

Debt discount

$ 240,000

Shares issued

53,600

Terms of agreement

As a condition to the closing of the Financing, each Buyer, severally, was required to execute a leak-out agreement (each, a “Leak-Out Agreement”) restricting such Buyer’s sale of shares of Common Stock underlying the New Notes and Warrants on any Trading Day to not more than such Buyer’s pro rata allocation of the greater of (x) sales with net proceeds of an aggregate of $20,000 or (y) twenty-five (25%) percent of the daily average trading volume of the Company’s Common Stock. If after the closing of the Financing there is no Event of Default under the New Notes, the VWAP of the Company’s Common Stock for three (3) trading days is less than $1.50 per share, the Company may further restrict the Buyers from selling at less than $1.50 per share; provided that the portion of the New Notes subject to redemption on each Installment Date shall thereafter double.

Conditional proceeds from sale of common stock under the agreement

$ 20,000

Terms of commission to placement agent

placement agent, received a cash commission for the transaction equal to eight (8%) percent of the total gross proceeds of the offering, or $240,000 and the issuance of five-year warrants to purchase eight (8%) percent of the shares of common stock issued or issuable in this offering (excluding shares of common stock issuable upon exercise of any warrants issued to investors), or 53,600 shares; and, will receive eight (8%) percent of any cash proceeds received from the exercise of any warrants sold in the offering with an expiration equal to or less than twenty-four (24) months.

Securities Purchase Agreement [Member] | Registration Rights Agreement [Member] | Warrants [Member]

Terms of agreement

The Company filed, within thirty (30) days of the Closing, a registration statement covering one hundred fifty (150%) percent of the maximum number of shares, underlying the New Notes and Warrants pursuant to a registration rights agreement with the Buyers (the “Registration Rights Agreement”).

Debt instrument maturity date

Feb. 1, 2019

Securities Purchase Agreement [Member] | Institutional investors [Member] | September 2018 Notes [Member]

Convertible notes payable, principal amount

$ 2,233,333

Common stock, par value

$ 0.001

Common stock shares issuable upon conversion of debt/convertible securities

372,223

Proceeds from issuance of warrants

$ 1,845,000

Legal fees

$ 15,000

Debt instrument maturity date

May 1, 2019

Purchase price charged to financing costs

$ 140,000

Purchase price of financing cost

$ 2,000,000

Exercise price

7.50

Common stock shares issuable upon conversion of debt/convertible securities

372,222

Securities Purchase Agreement [Member] | Holder [Member] | September 2018 Notes [Member]

Common stock, par value

$ 6

Event of default conversion price, description

Upon an Event of Default (regardless of whether such event has been cured), the Buyers may convert at an alternative conversion price equal to the lower of the then applicable Conversion Price or seventy-five (75%) percent of the then Volume-Weighted Average Price (as defined, the “VWAP”).

Customary events of default, description

The Note at a redemption premium of one hundred twenty-five (125%) percent, multiplied by the greater of the conversion rate and the then current market price. The Buyer may also require redemption of the May 2019 Note upon a Change of Control (as defined) at a premium of one hundred twenty-five (125%) percent. The Company has the right to redeem the May 2019 Note at any time, in whole or in part, in cash at a price equal to 120% of the then outstanding conversion amount.

Per-delivery shares issued

372,222

Debt instrument maturity date

Nov. 1, 2018

Debt original issue discount

$ 934,922

Securities Purchase Agreement [Member] | Senior Convertible Note 1 [Member] | Institutional investors [Member]

Convertible notes payable, principal amount

$ 3,000,000

Securities Purchase Agreement [Member] | Senior Convertible Note 2 [Member] | Institutional investors [Member]

Convertible notes payable, principal amount

$ 3,350,000

Securities Purchase Agreement [Member] | Senior Convertible Notes [Member]

Common stock, par value

$ 0.001

Purchase price charged to financing costs

$ 240,000

Purchase price of financing cost

3,000,000

Debt original issue discount

$ 350,000

Common stock shares issuable upon conversion of debt/convertible securities

670,000

Exchange Agreements [Member] | Senior Convertible Notes [Member]

Convertible notes payable, principal amount

$ 2,871,429

Common stock, par value

$ 5

Debt discount

$ 2,596,838

Convertible debt, description

The Company evaluated the debt modification in accordance with ASC 470-50 and concluded that the debt qualified for debt extinguishment as the 10% cash flow test was met.

Event of default conversion price, description

Upon an Event of Default (as defined), the Buyers may convert at an alternative conversion price equal to the lower of the then applicable Conversion Price or seventy-five (75%) percent of the Volume-Weighted Average Price (as defined, the “VWAP”).

Customary events of default, description

The Notes include customary Events of Default and provide that the Buyers may require the Company to redeem (regardless of whether the Event of Default has been cured) all or a portion of the Notes at a redemption premium of one hundred twenty-five (125%) percent, multiplied by the greater of the conversion rate and the then current market price. The Buyers may also require redemption of the Notes upon a Change of Control (as defined) at a premium of one hundred twenty-five (125%) percent.

Existing note description

(i) the New Note shall not be convertible into shares of the Company’s common stock (the “Common Stock”) until April 20, 2018, (ii) all future cash installment payments under such New Note will be made at a redemption price equal to 112% of the applicable installment amount, (iii) the Company’s existing obligation to initially deliver pre-delivery shares of its common stock to the holder of such New Note was deferred until April 20, 2018, and (iv) at any time on or before June 20, 2018, the Company had the right, at its option, to redeem all, or any part, of the amounts then outstanding under such New Note in cash at redemption price equal to 125% of such amounts then outstanding under such New Note.

Cash proceeds received by holders

85.00%

Additional paid in capital

$ 1,140,711

Aggregate indebtedness

12,000,000

Per-delivery shares issued

108,417

465,625

670,001

Exchange Agreements [Member] | New Notes [Member]

Convertible notes payable, principal amount

3,216,000

Debt discount

3,216,000

1,140,711

3,216,000

Amortization of debt discount

$ 405,743

$ 45,613

3,170,386

Loss on extinguishment of debt

1,464,698

Beneficial conversion feature

2,880,000

Debt original issue discount

336,000

Adjustments to beneficial conversion feature and issue of debt discount

$ 1,739,289

Third Amendment and Exchange Agreements [Member]

Convertible notes payable, principal amount

$ 261,903

261,903

Exercise price

6.00

Repayment of principal

$ 638,095

Warrants retired

536,000

Conversion price

$ 3.478

Third Amendment and Exchange Agreements [Member] | Post-modification [Member]

Exercise price

6

Dividend yield

0.00%

Fair value of common stock

$ 6

Expected volatility

113.62%

Risk-free rate

2.77%

Expected life

5 years

Third Amendment and Exchange Agreements [Member] | Pre-modification [Member]

Exercise price

7.50

Dividend yield

0.00%

Fair value of common stock

$ 6

Expected volatility

243.69%

Risk-free rate

2.77%

Expected life

3 years 11 months 4 days

Third Amendment and Exchange Agreements [Member] | September 4, 2018 Securities Purchase Agreement [Member]

Conversion price

$ 3.478

Related Party Debt

$ 1,333,333

Debt modification expense

$ 1,778,952

Common stock issued

383,363

Third Amendment and Exchange Agreements [Member] | November 15, 2017 Securities Purchase Agreement [Member]

Debt instrument maturity date

Dec. 11, 2023

Warrants issued

727,683

DEBT (Details)

DEBT (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Beginning balance loans	$ 9,803,733	$ 9,952,900
Proceeds	2,500,000	1,892,309
Payments	(227,912)	(1,246,700)
Transfer to related party		(1,500,000)
Forgiveness of debt		(53,678)
Amendment		661,645
Acquisition of Cosmofarm		227,912
Foreign currency translation	(46,097)	(257,418)
Amortization		126,763
Ending balance loans	12,029,724	9,803,733
Trade Facility [Member]
Proceeds		312,309
Beginning balance loans	6,291,199	6,728,605
Transfer to related party
Forgiveness of debt
Amendment		661,645
Acquisition of Cosmofarm
Foreign currency translation	(45,799)	(254,660)
Amortization
Ending balance loans	6,245,400	6,291,199
Debt Discount [Member]
Proceeds
Transfer to related party
Forgiveness of debt
Amendment
Acquisition of Cosmofarm
Beginning balance loans		(126,763)
Payments
Foreign currency translation
Amortization		126,763
Ending balance loans
Third Party [Member]
Proceeds		1,580,000
Transfer to related party		(1,500,000)
Forgiveness of debt
Amendment
Acquisition of Cosmofarm		227,912
Amortization
Payments	(227,912)
Beginning balance loans	242,805	27,651
Foreign currency translation	(298)	(2,758)
Ending balance loans	2,514,595	242,805
Bridge Loans [Member]
Proceeds
Payments
Beginning balance loans	191,287	204,965
Transfer to related party
Forgiveness of debt		(13,678)
Amendment
Acquisition of Cosmofarm
Foreign currency translation
Amortization
Ending balance loans	191,287	191,287
Loan Facility [Member]
Proceeds
Payments
Beginning balance loans	3,078,442	3,118,442
Transfer to related party
Forgiveness of debt		(40,000)
Amendment
Acquisition of Cosmofarm
Foreign currency translation
Amortization
Ending balance loans	$ 3,078,442	$ 3,078,442

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($)

Dec. 06, 2019

May 12, 2018

May 12, 2017

May 05, 2017

Apr. 10, 2017

Mar. 16, 2017

Aug. 04, 2016

Oct. 23, 2019

Jun. 24, 2019

May 28, 2019

Dec. 19, 2018

Oct. 17, 2018

May 31, 2018

Apr. 02, 2018

Feb. 19, 2018

Jan. 18, 2018

Mar. 23, 2017

Mar. 20, 2017

Nov. 16, 2015

Sep. 30, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 20, 2018

Dec. 31, 2017

Mar. 31, 2018

Nov. 16, 2017

Jul. 31, 2017

Jan. 31, 2017

Dec. 31, 2016

Nov. 30, 2016

Oct. 31, 2016

Sep. 30, 2016

Sep. 13, 2016

Accured interest expense

$ (1,412,465)

$ (967,824)

Convertible notes payable, principal amount

2,680,000

Amortization of debt discount

$ 392,272

320,205

5,681,613

360,890

Debt discount

3,350,000

Debt modification expense

(1,942,156)

Cash received

307,590

TFF [Member]

Short term debt borrowing capacity

$ 15,000,000

Libor rate description

(i) all lending in U.S. dollars is the one-month LIBOR plus six (6%) percent margin; and (ii) for all lending in Euro, the one-month Euribor Rate plus six (6%) percent per annum, commencing June 1, 2018

CEO [Member]

Percentage of wholly-owned subsidiary shares

51.00%

Trade Facility [Member]

Lines of credit

$ 5,866,910

Payment of interest and principal

$ 1,123,600

Loan facility agreement [Member]

Debt discount

$ 191,034

56,043

Unamortized debt discount

$ 20,237

114,158

Marathon [Member]

Shares issued for settlement of debt

615,573

Distribution and equity acquisition agreement, description

As consideration for its services, Company received: (a) a 33 1/3% equity interest or 5 million shares in Marathon as partial consideration for the Company’s distribution services; and (b) received cash of CAD $2,000,000, subject to repayment in Common Shares of the Company if it fails to meet certain performance milestones. The Company is entitled to receive an additional CAD $2,750,000 upon the Company’s receipt of gross sales of CAD $6,500,000 and an additional CAD $2,750,000 upon receipt of gross sales of CAD $13,000,000.

Settlement amount

$ 1,554,590

Cash received

2,000,000

Synthesis facility agreement [Member] | TFF [Member]

Accrued interest

$ 524,094

Lines of credit

$ 5,629,555

Description for amendment to agreement under ASU 470-50

The Company evaluated the amended agreement under ASC 470-50 and concluded that it did not meet the 10% cash flow test and recorded debt modification expense of $138,110

Debt modification expense

$ 138,110

Synthesis facility agreement [Member] | TFF [Member] | Principal balance 1 [Member]

Maturity date

Aug. 31, 2021

Accrued interest

10,000

0

Debt split, balance

$ 2,000,000

2,245,400

2,291,200

Interest rate description

6% per annum plus one-month Euribor, when it is positive, on the Euro balance

Repayment of debt, periodic payments

$ 125,000

Frequency of periodic payments

Quarterly

Synthesis facility agreement [Member] | TFF [Member] | Principal balance 2 [Member]

Maturity date

Aug. 31, 2021

Accrued interest

12,661

19,834

Debt split, balance

$ 4,000,000

$ 4,000,000

4,000,000

Interest rate description

6% per annum plus one month Libor on the USD balance

Repayment of debt, periodic payments

$ 150,000

Frequency of periodic payments

Quarterly

On April 18, 2018 [Member]

Maturity date

Dec. 31, 2021

Accrued interest

$ 609,607

414,830

Lines of credit

3,078,442

3,078,442

Gain on debt settlement

$ 23,354

Libor rate description

Additionally the interest rate was amended such that the interest rate for all advances is 4% plus the 3-Month Libor rate

Loan Facility July 6, 2017 [Member]

Fees forgiven related to advance

$ 40,000

Grigorios Siokas [Member]

Interest rate

4.70%

Accrued interest

$ 128,447

63,371

Interest rate

750.00%

750.00%

750.00%

Shares issued for settlement of debt

73,334

66,667

140,001

Grigorios Siokas [Member] | Synthesis facility agreement [Member] | Loan facility agreement [Member]

Common stock shares issuable upon conversion of debt/convertible securities

10,000,000

SkyPharm [Member] | Trade Facility [Member]

Short term debt borrowing capacity

$ 2,245,400

Lines of credit

$ 5,369,678

Description for the repayment

The total facility will be calculated as 95% of the agreed upon value of Decahedrons receivables.

Term of credit facility

12 months

Credit facility origination fee, percentage

2.00%

Monthly credit fee, percentage

1.00%

Proceeds from debt

$ 247,117

SkyPharm [Member] | Trade Facility [Member] | Minimum [Member]

Short term debt borrowing capacity

$ 2,291,200

SkyPharm [Member] | Trade Facility [Member] | Maximum [Member]

Short term debt borrowing capacity

$ 6,736,200

SkyPharm [Member] | Amendment to loan facility agreement [Member]

Short term debt borrowing capacity

$ 1,533,020

Lines of credit

$ 240,251

SkyPharm [Member] | Bridge Loans [Member]

Maturity date

Sep. 30, 2017

Apr. 16, 2017

Apr. 20, 2017

Interest rate

10.00%

10.00%

10.00%

Short term debt borrowing capacity

$ 34,745

$ 50,000

$ 120,220

$ 50,000

Accrued interest

14,138

16,857

27,627

Lines of credit

$ 50,000

$ 106,542

106,542

Amended maturity date

May 16, 2017

May 20, 2017

Gain on debt settlement

$ 19,695

Additional gain on settlement of debt

4,668

Loan fixed payoff amount

$ 106,542

SkyPharm [Member] | Second amendment to loan facility agreement [Member]

Maturity date

Aug. 4, 2016

Interest rate

10.00%

Short term debt borrowing capacity

$ 2,664,960

70,000

$ 382,327

$ 155,516

$ 452,471

$ 250,000

$ 100,000

$ 174,000

Accrued interest

221,657

Lines of credit

3,117,287

Debt discount

42,149

$ 126,624

Description for the repayment

The amounts owed under the Loan Facility shall be repayable upon the earlier of (i) seventy five days following the demand of the Lender; or (ii) August 31, 2018

Common stock shares issuable upon conversion of debt/convertible securities

1,000,000

SkyPharm [Member] | Loan facility agreement [Member]

Interest rate

10.00%

Short term debt borrowing capacity

$ 1,292,769

Description for the repayment

The amounts owed under the Loan Facility were repayable upon the earlier of (i) three months following the demand of the lender; or (ii) August 31, 2018. No prepayment is permitted pursuant to the terms of the Loan Facility

SkyPharm [Member] | Decahedron [Member] | Trade Facility [Member]

Short term debt borrowing capacity

$ 3,087,425

Description for the repayment

The total facility will be calculated as 95% of the agreed upon value of Decahedrons receivables

Term of credit facility

12 months

Credit facility origination fee, percentage

2.00%

Monthly credit fee, percentage

1.00%

SkyPharm [Member] | May 5 2017 [Member] | Bridge Loans [Member]

Accrued interest

5,043

3,906

Lines of credit

34,745

34,745

SkyPharm [Member] | MediHelm S.A. [Member]

Amortization of debt discount

66,227

$ 69,269

Origination fees

137,063

DOC Pharma S.A. [Member] | Loan agreement [Member]

Accrued interest

1,034

Lines of credit

$ 13,086

DOC Pharma S.A. [Member] | On November 1, 2015 [Member] | Loan agreement [Member]

Interest rate

2.00%

Panagiotis Drakopoulos [Member] | Loan agreement [Member]

Maturity date

Dec. 19, 2019

Jun. 15, 2019

Jan. 17, 2019

Nov. 15, 2016

Interest rate

4.70%

6.50%

6.00%

Short term debt borrowing capacity

$ 227,912

$ 6,144

$ 91,785

$ 42,832

Accrued interest

$ 4,677

3,538

Lines of credit

14,595

14,893

Accured interest of loan

2,002

Outstanding balance of promissory notes

227,912

Senior Promissory Notes [Member] | August 1, 2019 [Member]

Description for the payment of installments

The Company may prepay the August Note within the first six (6) months by payment of unpaid interest for the first six (6) months and, after six (6) months, with a two (2%) percent ($10,000) premium.

Maturity date

Aug. 1, 2020

Convertible notes payable, principal amount

$ 500,000

Accrued interest

12,534

Loans payable

$ 1,500,000

Interest rate

15.00%

Senior Promissory Notes [Member] | Subsequent Event [Member] | July 24, 2019 [Member]

Accured interest expense

$ 49,625

Maturity date

Jul. 24, 2020

Convertible notes payable, principal amount

$ 750,000

Due to related party

$ 750,000

Senior Promissory Notes [Member] | Subsequent Event [Member] | October 23, 2019 [Member]

Description for the payment of installments

The Company may prepay the October Note within the first six (6) months by payment of unpaid interest for the first six (6) months and, after six (6) months, with a two (2%) percent ($5,000) premium.

Maturity date

Oct. 23, 2020

Convertible notes payable, principal amount

$ 250,000

Loans payable

$ 2,000,000

Interest rate

15.00%

Senior Promissory Notes [Member] | Unaffiliated Third Party [Member] | December 6, 2019 [Member]

Accured interest expense

$ (156,362)

$ 890

Description for the payment of installments

The Company is currently in discussions with the lender to extend the maturity date and is not in default. The Company may prepay the December Note after six (6) months, with a two (2%) percent ($5,000) premium.

Maturity date

Mar. 31, 2020

Sep. 30, 2017

Apr. 16, 2017

Apr. 20, 2017

Interest rate

5.00%

10.00%

10.00%

10.00%

Short term debt borrowing capacity

$ 2,250,000

$ 34,745

$ 50,000

$ 120,220

Convertible notes payable, principal amount

$ 250,000

$ 250,000

Senior Promissory Notes [Member] | Unaffiliated Third Party [Member] | October 23, 2019 [Member]

Description for the payment of installments

The Company may prepay the October Note within the first six (6) months by payment of unpaid interest for the first six (6) months and, after six (6) months, with a two (2%) percent ($5,000) premium.

Maturity date

Sep. 30, 2017

Apr. 16, 2017

Oct. 23, 2020

Apr. 20, 2017

Interest rate

10.00%

10.00%

15.00%

10.00%

Short term debt borrowing capacity

$ 34,745

$ 50,000

$ 2,000,000

$ 120,220

Convertible notes payable, principal amount

$ 250,000

250,000

Accrued interest

$ 14,138

$ 16,857

$ 7,705

Senior Promissory Notes [Member] | Unaffiliated Third Party [Member] | April 1, 2019 [Member]

Maturity date

Apr. 1, 2020

Interest rate

15.00%

Convertible notes payable, principal amount

$ 250,000

Accrued interest

0

Lines of credit

$ 250,000

Repayment of debt description

The Company may prepay the Notes within the first six (6) months by payment of unpaid interest for the first six (6) months interest and after six (6) months, with a (2%) percent ($5,000) premium on each note.

Senior Promissory Notes [Member] | Unaffiliated Third Party [Member] | April 3, 2019 [Member]

Accured interest expense

$ (156,362)

Maturity date

Apr. 3, 2020

Interest rate

15.00%

Convertible notes payable, principal amount

$ 250,000

Accrued interest

28,098

Lines of credit

$ 250,000

Repayment of debt description

The Company may prepay the Notes within the first six (6) months by payment of unpaid interest for the first six (6) months interest and after six (6) months, with a (2%) percent ($5,000) premium on each note.

Senior Promissory Notes [Member] | Unaffiliated Third Party [Member] | April 9, 2019 [Member]

Maturity date

Apr. 9, 2020

Interest rate

15.00%

Convertible notes payable, principal amount

$ 250,000

Accrued interest

27,431

Lines of credit

$ 250,000

Repayment of debt description

The Company may prepay the Note within the first six (6) months by payment of unpaid interest for the first six (6) months and after six (6) months, with a two (2%) percent ($5,000) premium.

Due from related party

$ 500,000

LEASES (Details)

LEASES (Details)	Dec. 31, 2019USD ($)
LEASES (Details)
2020	$ 167,694
2021	83,144
2022	53,890
2023	53,890
Thereafter	255,976
Total undiscounted finance lease payments	614,593
Less: Imputed interest	122,013
Present value of finance lease liabilities	$ 492,580

LEASES (Details 1)

LEASES (Details 1)	Dec. 31, 2019USD ($)
LEASES (Details 1)
2019	$ 65,556
2020	44,373
2021	26,472
2022	14,685
2023	4,126
Thereafter
Total undiscounted finance lease payments	155,212
Less: Imputed interest	14,504
Present value of finance lease liabilities	$ 140,708

LEASES (Details Details Narrati

LEASES (Details Details Narrative)	12 Months Ended
	Dec. 31, 2019USD ($)
LEASES (Details Details Narrative)
Operating lease, term of agreements	The Company has various lease agreements with terms up to 10 years, comprising of leases of office space. Some leases include options to purchase, terminate or extend for one or more years.
Operating lease, weighted average remaining lease term	6 years 7 months 24 days
Operating lease, weighted average discount rate	6.74%
Operating lease expense	$ 223,927
Operating lease, cash flows	185,540
Operating lease liabilities	$ 673,844
Finance lease, weighted average remaining lease term	2 years 10 months 13 days
Finance lease, weighted average discount rate	6.66%
Operating lease cash flows used in finance lease	$ 74,476
Finance lease, interest expense	10,927
Finance lease, amortization expense	$ 160,542

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	Sep. 04, 2018	Aug. 08, 2017	Nov. 16, 2017	Dec. 31, 2019	Mar. 23, 2017
Private Placement [Member]
Commitments and contingencies description		(1) a cash commission of 6% of the total gross proceeds for two named investors (2) a cash commission of 4% of total gross proceeds from five named investors and (3) excluding the five named investors in “(2)” a cash commission equal to 8% of the total gross proceeds from the Offering and the issuance to the Agent or its designees of warrants covering 8% of the shares of common stock issued or issuable by the Company in the Offering. Additionally, the Agent will receive a cash fee of 8% payable within 5 business days, but only in the event of, the receipt by the Company of any cash proceeds from the exercise of any warrants with an expiration equal to or less than 24 months sold in the Offering.
Cash commission description	In connection with the Company’s September 4, 2018 Note offering, the Agent received a cash commission for this transaction of $140,000, equal to seven (7%) percent of the total gross proceeds of the offering and the issuance of five-year warrants to purchase seven (7%) percent of the shares of common stock issued or issuable in this offering (excluding shares of common stock issuable upon exercise of any warrants issued to investors, or 26,056 shares); however, will receive seven (7%) percent of any cash proceeds received from the exercise of any warrants sold in the offering with an expiration equal to or less than twenty-four (24) months. The warrants are exercisable six (6) months after the date of issuance, or March 4, 2019.		In connection with the Company’s November 16, 2017 Note offering, the Agent received a cash commission of $240,000, equal to eight (8%) percent of the total gross proceeds of the offering and the issuance of five-year warrants to purchase eight (8%) percent of the shares of common stock issued or issuable in the offering (excluding shares of common stock issuable upon exercise of any warrants issued to investors, or 53,600 shares); however, will receive eight (8%) percent of any cash proceeds received from the exercise of any warrants sold in the offering with an expiration equal to or less than twenty-four (24) months. The warrants are exercisable six (6) months after the date of issuance, or as of May 16, 2018.
SkyPharm [Member] | Second amendment to loan facility agreement [Member]
Common stock shares issuable upon conversion of debt/convertible securities					1,000,000
Intellectual property sale agreement [Member] | Anastasios Tsekas and Olga Parthenea Georgatsou [Member] | On October 1, 2016 [Member]
Operating lease periodic payment				$ 1,500
Common stock shares issuable upon conversion of debt/convertible securities				200,000
Intellectual property sale agreement [Member] | Anastasios Tsekas and Olga Parthenea Georgatsou [Member] | On October 1, 2016 [Member] | Conclusion of Preclinical Trials [Member]
Common stock shares issuable upon conversion of debt/convertible securities				50,000
Intellectual property sale agreement [Member] | Anastasios Tsekas and Olga Parthenea Georgatsou [Member] | On October 1, 2016 [Member] | conclusion of Phase I testing [Member]
Common stock shares issuable upon conversion of debt/convertible securities				50,000
Intellectual property sale agreement [Member] | Anastasios Tsekas and Olga Parthenea Georgatsou [Member] | On October 1, 2016 [Member] | Conclusion of Phase III testing [Member]
Common stock shares issuable upon conversion of debt/convertible securities				50,000
Intellectual property sale agreement [Member] | Anastasios Tsekas and Olga Parthenea Georgatsou [Member] | On October 1, 2016 [Member] | Conclusion of Phase II testing [Member]
Common stock shares issuable upon conversion of debt/convertible securities				50,000
Advisory Agreement [Member] | SkyPharm [Member] | April 18, 2018 [Member]
Term of operating lease				10 years
Annually operating lease amount				$ 104,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Numerator for Basic and Diluted Earnings Per Share:
Net loss	$ (3,298,965)	$ (9,060,658)
Denominator for Basic Earnings Per Share:
Weighted Average Shares	13,273,596	13,306,612
Potentially Dilutive Common Shares
Adjusted Weighted Average Shares	13,273,596	13,306,612
Basic and Diluted Net (Loss) Income per Share	$ (0.25)	$ (0.68)

EARNINGS PER SHARE (Details 1)

EARNINGS PER SHARE (Details 1) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Excluded from computation of diluted net loss per share	42,808	257,155
Convertible Debt [Member]
Excluded from computation of diluted net loss per share		52,381
Options [Member]
Excluded from computation of diluted net loss per share	42,808	60,437
Warrants [Member]
Excluded from computation of diluted net loss per share		144,338

STOCK OPTIONS AND WARRANTS (Det

STOCK OPTIONS AND WARRANTS (Details) - Stock Options [Member] - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Number of Shares
Number of Shares Outstanding, Beginning	74,000	49,000
Granted		25,000
Forfeited
Exercised
Expired
Number of Shares Outstanding, Ending	74,000	74,000
Number of Shares Exercisable	74,000
Weighted Average Exercise Price
Weighted Average Exercise Price Outstanding, Beginning	$ 1.32	$ 1.49
Granted		1
Forfeited
Exercised
Expired
Weighted Average Exercise Price Outstanding, Ending	1.32	$ 1.32
Weighted Average Exercise Price Exercisable	$ 1.32
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term Outstanding, Beginning	2 years 5 months 19 days	3 years 2 months 9 days
Granted		4 years
Weighted Average Remaining Contractual Term Outstanding, Ending	1 year 5 months 19 days	2 years 5 months 19 days
Weighted Average Remaining Contractual Term Exercisable	1 year 5 months 19 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value Outstanding, Beginning	$ 198,000
Granted
Forfeited
Exercised
Expired
Aggregate Intrinsic Value Outstanding, Ending	64,800	$ 198,000
Aggregate Intrinsic Value Exercisable	$ 64,800

STOCK OPTIONS AND WARRANTS (D_2

STOCK OPTIONS AND WARRANTS (Details 1)	12 Months Ended
	Dec. 31, 2018$ / shares
Market value of underlying stock	$ 6.40
Minimum [Member]
Volatility	111.51%
Expected term (in years)	5 years
Risk-free interest rate	2.77%
Maximum [Member]
Volatility	254.07%
Expected term (in years)	5 years 6 months
Risk-free interest rate	2.78%

STOCK OPTIONS AND WARRANTS (D_3

STOCK OPTIONS AND WARRANTS (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Placeholder Line Item. Please replace
Warrants [Member]
Number of Shares
Number of Shares Outstanding, Beginning	$ 1,164,673	$ 599,640
Granted		1,111,073
Forfeited		(536,000)
Exercised
Expired		(10,040)
Number of Shares Outstanding, Ending	$ 1,164,673	$ 1,164,673
Number of Shares Exercisable	1,164,673
Weighted Average Exercise Price
Weighted Average Exercise Price Outstanding, Beginning	$ 6.41	$ 7.65
Granted
Forfeited
Exercised
Expired
Weighted Average Exercise Price Outstanding, Ending	6.41	$ 6.41
Weighted Average Exercise Price Exercisable	$ 6.41
Weighted Average Remaining Contractual Term
Weighted Average Remaining Contractual Term Outstanding, Beginning	5 years 4 days	5 years 3 months 15 days
Weighted Average Remaining Contractual Term Outstanding, Ending	4 years 4 days	5 years 4 days
Weighted Average Remaining Contractual Term Exercisable	4 years 4 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value Outstanding, Beginning Balance		$ 1,725,921
Granted
Forfeited
Exercised
Expired
Aggregate Intrinsic Value Outstanding, Ending Balance
Aggregate Intrinsic Value Exercisable

STOCK OPTIONS AND WARRANTS (D_4

STOCK OPTIONS AND WARRANTS (Details Narrative)	Sep. 04, 2018USD ($)$ / sharesshares	Apr. 07, 2017$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2019EUR (€)shares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Feb. 20, 2018shares	Nov. 15, 2017shares
Amortization expense | $			$ 394,628		$ 43,930
Minimum [Member]
Option/warrant term					5 years
Volatility rate					111.51%
Risk-free interest rate					2.77%
Maximum [Member]
Option/warrant term					5 years 6 months
Volatility rate					254.07%
Risk-free interest rate					2.78%
Options [Member]
Granted					$ 1
Number of Shares Outstanding, Beginning | shares			74,000	74,000
Number of Shares Exercisable | shares			74,000	74,000
Warrants [Member]
Granted
Warrants [Member] | Private Placement [Member]
Exercise price		$ 30
Option/warrant term		1 year
Common stock shares issuable upon conversion of debt/convertible securities | shares		10,040
Warrants issued ratio description		1:1 ratio for shares
Warrants [Member] | Private Placement [Member] | Minimum [Member]
Stock price		$ 7.60
Volatility rate		76.66%
Risk-free interest rate		1.07%
Warrants [Member] | Private Placement [Member] | Maximum [Member]
Stock price		$ 8.50
Volatility rate		90.86%
Risk-free interest rate		1.11%
Warrants [Member] | Securities Purchase Agreement [Member]
Stock price	$ 6.40
Exercise price	$ 7.50
Option/warrant term	5 years
Volatility rate	111.51%
Common stock shares issuable upon conversion of debt/convertible securities | shares	357,334						536,000	536,000
Risk-free interest rate	2.78%
Common stock value issuable under agreement | $	$ 2,233,333
Warrants exercisable period	Mar. 4, 2019
Interest expenses | $					$ 910,078
Warrants [Member] | Securities Purchase Agreement [Member] | Roth Capital Partners, LLC [Member]
Stock price	$ 6.40
Exercise price	$ 5
Option/warrant term	5 years
Volatility rate	169.29%
Common stock shares issuable upon conversion of debt/convertible securities | shares	26,056
Risk-free interest rate	2.78%
Common stock value issuable under agreement | $	$ 2,233,333
Warrants exercisable period	Mar. 4, 2019
Interest expenses | $					$ 157,969
Institutional investors [Member] | September 2018 Notes [Member] | Securities Purchase Agreement [Member]
Common stock shares issuable upon conversion of debt/convertible securities | shares	372,222
Placement agent [Member] | Warrants [Member] | Roth Capital Partners, LLC [Member]
Common stock shares issuable upon conversion of debt/convertible securities | shares	26,056
Employee [Member] | On January 1, 2017 [Member] | Stock Option [Member]
Exercise period					4 years
Granted					$ 1
Stock options/warrants value | $					$ 242,002	$ 195,307
Stock price					$ 10.20
Exercise price					$ 1
Option/warrant term					4 years	4 years
Volatility rate					120.92%	136.76%
Stock option periodic vesting | shares					25,000
Frequency of periodic vesting			Monthly	Monthly
Consideration under agreement				€ 1,000
Share based compensation as annual retainer | shares			25,000
Employee [Member] | January 1, 2017 [Member] | Stock Option [Member]
Stock price						$ 8.20
Exercise price						$ 1
Stock option periodic vesting | shares						25,000
Employee [Member] | Potentially dilutive securities [Member] | On January 1, 2017 [Member]
Exercise period					4 years
International Finance Manager [Member] | Stock Option [Member]
Amortization expense | $					$ 242,002	$ 195,307

DISAGGREGATION OF REVENUE (Deta

DISAGGREGATION OF REVENUE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 39,676,385	$ 37,083,882
Greece [Member]
Revenue	26,101,316	2,970,219
Libya [Member]
Revenue	396,333	3,860,021
Belgium [Member]
Revenue		4,230
Croatia [Member]
Revenue	22,497
Denmark [Member]
Revenue	97,905	430,932
France [Member]
Revenue	153,422	388,944
Georgia [Member]
Revenue	5,301
Germany [Member]
Revenue	6,672,511	14,783,119
Hungary [Member]
Revenue	1,094,446	1,673,287
Indonesia [Member]
Revenue	7,172	6,449
Ireland [Member]
Revenue	467,965	1,519,746
Italy [Member]
Revenue	196,044	481,141
Jordan [Member]
Revenue	20,144	162,749
Netherlands [Member]
Revenue	846,479	886,218
Poland [Member]
Revenue	307,624
Spain [Member]
Revenue		8,724
Turkey [Member]
Revenue	24,347
UK [Member]
Revenue	$ 3,262,880	$ 9,908,103

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Convertible notes payable, principal amount		$ 2,680,000
Subsequent Event [Member] | Senior Promissory Notes [Member] | March 23, 2020 Forbearance Agreement [Member]
Convertible notes payable, principal amount	$ 1,500,000
Maturity date, description	The Note was due on or before March 15, 2020 and was not paid (the “Existing Default”).
Redemption premium percentage	120.00%
Conversion price per share	$ 6
Agreement redemption description	(1): (September 16, 2020 (or, if earlier, such date when all amounts outstanding under the Note shall be paid in full or converted into shares of Common Stock in accordance therewith) and (2) the time of any breach by the Company of the Agreement or the occurrence of an Event of Default that is not an Existing Default (the “Forbearance Expiration Date), (b)during the Forbearance Period waive the prepayment premium to any Company Optional Redemption, and (c) during the Forbearance Period, waive the repayment in full of the Note other than the Required Payments (as defined) prior to September 16, 2020. The Scheduled Required Prepayments are $100,000 upon signing the Agreement and five (5) monthly payments thereafter aggregating $200,000 with all amounts outstanding under the Note due on September 16, 2020. In addition, there are mandatory prepayments in the event the Company completes a Subsequent Placement (as defined) or long-term debt (other than from the Buyer or from officers and directors and advisors of the Company) or factoring and purchase order indebtedness, the Company shall effect a Company Optional Redemption amount equal to 50% of the gross proceeds (less reasonable expenses of counsel and any investment bank) together with all Scheduled Required Payments.
Subsequent Event [Member] | Senior Promissory Notes [Member] | On January 27, 2020 [Member]
Convertible notes payable, principal amount	$ 250,000
Maturity date, description	The Note matures on May 15, 2020 unless prepaid or in default.
Interest rate	5.00%
Description for the payment of installments	The Company may prepay the Note within the first six (6) months by payment of unpaid interest for the first six (6) months and after six (6) months, with a two (2%) percent ($5,000) premium.
Subsequent Event [Member] | Senior Promissory Notes [Member] | On Febuary 25, 2020 [Member]
Convertible notes payable, principal amount	$ 100,000
Maturity date, description	The February Note matures on April 30, 2020 unless in default.
Interest rate	18.00%