AXIM Biotechnologies (AXIM) 10-Q 14 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - $ / shares	Nov. 14, 2019	Sep. 30, 2019
Details
Registrant CIK		0001514946
Fiscal Year End		--12-31
Document Type		10-Q
Document Quarterly Report		true
Document Period End Date		Sep. 30, 2019
Document Transition Report		false
Entity File Number		000-54296
Entity Registrant Name		AXIM Biotechnologies, Inc.
Entity Incorporation, State or Country Code		NV
Entity Tax Identification Number		27-4029386
Entity Address, Address Line One		45 Rockefeller Plaza
Entity Address, Address Line Two		20th Floor, Suite 83
Entity Address, City or Town		New York
Entity Address, State or Province		NY
Entity Address, Postal Zip Code		10111
Entity Address, Address Description		Address of principal executive offices
City Area Code		212
Local Phone Number		332-1677
Phone Fax Number Description		Registrant’s telephone number, including area code
Entity Current Reporting Status		Yes
Entity Interactive Data Current		No
Entity Filer Category		Non-accelerated Filer
Entity Small Business		true
Entity Emerging Growth Company		false
Entity Shell Company		false
Entity Common Stock, Shares Outstanding	63,035,419
Entity Listing, Par Value Per Share	$ 0.0001
Amendment Flag		false
Document Fiscal Year Focus		2019
Document Fiscal Period Focus		Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets, (September 30, 2019 Unaudited) - USD ($)		Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash		$ 1,167,417	$ 1,805,627
Inventory		465,626	9,797
Prepaid expenses		124,045	52,105
Accounts receivable		38,747	0
Other receivables		89,568	0
Loan receivable		5,000	5,000
Marketable securities		404,518	150,000
Investment in Joint Venture		27,490	0
Total current assets		2,322,411	2,022,529
Property, Plant and Equipment, Net		3,076	5,593
Other Assets:
Acquired intangible asset - intellectual property licensing agreement, net		50,534	53,692
Security deposits		624	7,440
Total other assets		51,158	61,132
TOTAL ASSETS		2,376,645	2,089,254
Current liabilities:
Accounts payable and accrued liabilities		891,985	217,728
Due to shareholder		5,000	412,500
Due to First Insurance Funding		57,006	23,280
Due to related party		1,570,916	1,649,832
Promissory note - related party (including accrued interest of $160,272 and $140,526 respectively)		1,040,271	1,020,526
Total current liabilities		3,565,178	3,323,866
Long-term liabilities:
Total long-term liabilities		4,989,108	4,847,207
TOTAL LIABILITIES		8,554,286	8,171,073
STOCKHOLDERS' DEFICIT
Common Stock, Value, Issued		6,279	5,958
Additional paid in capital		27,812,413	22,863,608
Common stock, to be issued		7,500	41,000
Accumulated deficit		(34,003,930)	(28,992,485)
TOTAL STOCKHOLDERS' DEFICIT		(6,177,638)	(6,081,819)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT		2,376,648	2,089,254
Series B Convertible Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred Stock, Value, Issued		50	50
Series C Convertible Preferred Stock
STOCKHOLDERS' DEFICIT
Preferred Stock, Value, Issued		50	50
Convertible note payable 2
Long-term liabilities:
Notes Payable, Noncurrent	[1]	$ 4,989,108	$ 4,847,207
[1]	See Note 11.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets, (September 30, 2019 Unaudited) - Parenthetical - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 13,704	$ 11,187
Preferred Stock, Shares Issued	300,000,000
Preferred Stock, Shares Outstanding	300,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Common Stock, Shares, Issued	62,785,419	59,582,890
Common Stock, Shares, Outstanding	62,785,419	59,582,890
Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Series B Convertible Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	500,000	500,000
Preferred Stock, Shares Issued	500,000	500,000
Preferred Stock, Shares Outstanding	500,000	500,000
Series C Convertible Preferred Stock
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	500,000	500,000
Preferred Stock, Shares Issued	500,000	500,000
Preferred Stock, Shares Outstanding	500,000	500,000
Promissory note - related party
Interest Payable, Current	$ 160,272	$ 140,526
Convertible note payable 2
Interest Payable, Current	218,439	132,733
Debt Instrument, Unamortized Discount, Noncurrent	$ 758,809	$ 815,004

Consolidated Statement of Opera

Consolidated Statement of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Details
Revenues	$ 403,012	$ 6,224	$ 513,161	$ 28,646
Cost of goods sold	326,276	3,175	418,298	7,164
Gross profit (loss)	76,736	3,049	94,863	21,482
Operating Expenses:
Research and development expenses	426,665	350,588	1,950,981	1,701,986
Selling, general and administrative	763,801	587,448	3,393,521	2,630,004
Depreciation	839	839	2,517	2,517
Total operating expenses	1,191,305	938,875	5,347,019	4,334,507
Loss from operations	(1,114,569)	(935,826)	(5,252,156)	(4,313,025)
Other (Income) expenses:
Unrealized gain on marketable securities	(135,320)	0	(273,720)	0
Realized gain on marketable securities	(190,460)	0	(190,460)	0
Amortization of Debt Discount	18,870	193,262	56,195	998,736
Loss (gain) on extinguishment of debt	0	114,723	0	114,723
Interest expense	55,959	89,885	167,275	349,270
Total other (income) expenses	(250,951)	397,870	(240,710)	1,462,729
Loss before provision of income tax	(863,618)	(1,333,696)	(5,011,446)	(5,775,754)
Provision for income tax	0	0	0	0
Net Income (Loss) Attributable to Parent	(863,618)	(1,333,696)	(5,011,446)	(5,775,754)
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ (863,618)	$ (1,333,696)	$ (5,011,446)	$ (5,775,754)
Loss per common share - basic and diluted	$ (0.01)	$ (0.02)	$ (0.08)	$ (0.10)
Weighted average common shares outstanding - basic and diluted	62,490,798	57,944,134	61,459,631	52,866,871

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Deficit (Unaudited) - USD ($)	Common Stock	Preferred Stock	Series A Convertible Preferred stock	Series B Convertible Preferred Stock	Series C Convertible Preferred Stock	to be Issued	Additional Paid-in Capital	Retained Earnings	Total
Equity Balance, Starting at Dec. 31, 2017	$ 5,457	$ 0	$ 0	$ 50	$ 50	$ 24,000	$ 15,923,789	$ (22,237,839)	$ (6,284,493)
Shares Outstanding, Starting at Dec. 31, 2017	54,564,441	0	0	500,000	500,000
Common stock issued against Common stock to be issued	$ 0	$ 0	$ 0	$ 0	$ 0	(15,000)	15,000	0	0
Stock Issued During Period, Shares, New Issues	2,179	0	0	0	0
Common shares issued in redemption of note, value	$ 193	$ 0	$ 0	$ 0	$ 0	0	403,289	0	403,482
Common shares issued in redemption of note, shares	1,925,830	0	0	0	0
Common stock issued for consulting services	$ 17	$ 0	$ 0	$ 0	$ 0	0	817,783	0	817,800
Common stock issued for consulting services, shares	174,000	0	0	0	0
Common stock to be issued for consulting services	$ 0	$ 0	$ 0	$ 0	$ 0	9,500	0	0	9,500
Common stock to be issued for consulting services, shares	0	0	0	0	0
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(2,763,492)	(2,763,492)
Shares Outstanding, Ending at Mar. 31, 2018	56,666,450	0	0	500,000	500,000
Equity Balance, Ending at Mar. 31, 2018	$ 5,667	$ 0	$ 0	$ 50	$ 50	18,500	17,159,861	(25,001,331)	(7,817,203)
Common stock to be issued for consulting services	$ 0	$ 0	$ 0	$ 0	$ 0	18,820	0	0	18,820
Common stock to be issued for consulting services, shares	0	0	0	0	0
Common stock to be issued to Board of directors	$ 0	$ 0	$ 0	$ 0	$ 0	125,000	0	0	125,000
Stock Issued During Period, Value, Other	$ 67	0	0	0	0	0	1,784,465	0	1,784,532
Stock Issued During Period, Shares, Other	670,000
Common stock issued per stock purchase agreement	$ 21	$ 0	$ 0	$ 0	$ 0	0	599,979	0	600,000
Common stock issued per stock purchase agreement, shares	204,778	0	0	0	0
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(1,678,566)	(1,678,566)
Shares Outstanding, Ending at Jun. 30, 2018	57,541,228	0	0	500,000	500,000
Equity Balance, Ending at Jun. 30, 2018	$ 5,755	$ 0	$ 0	$ 50	$ 50	4,162,320	19,544,305	(26,679,897)	(6,967,417)
Common shares issued in redemption of note, value	$ 23	$ 0	$ 0	$ 0	$ 0	0	514,485	0	514,508
Common shares issued in redemption of note, shares	231,215	0	0	0	0
Common stock to be issued for consulting services	$ 1	$ 0	$ 0	$ 0	$ 0	0	36,539	0	36,540
Common stock to be issued for consulting services, shares	18,000	0	0	0	0
Stock Issued During Period, Value, Other	$ 88	$ 0	$ 0	$ 0	$ 0	0	1,551,112	0	1,551,200
Stock Issued During Period, Shares, Other	875,000	0	0	0	0
Reversal of Common shares issued for consulting services, value	$ 0	$ 0	$ 0	$ 0	$ 0	(3,820)	0	0	(3,820)
Reversal of Common shares issued for consulting services, shares	0	0	0	0	0
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(1,333,696)	(1,333,696)
Shares Outstanding, Ending at Sep. 30, 2018	58,665,443	0	0	500,000	500,000
Equity Balance, Ending at Sep. 30, 2018	$ 5,867	$ 0	$ 0	$ 50	$ 50	158,500	21,646,441	(28,013,593)	(6,202,685)
Equity Balance, Starting at Dec. 31, 2018	$ 5,958	$ 0	$ 0	$ 50	$ 50	41,000	22,863,608	(28,992,485)	(6,081,819)
Shares Outstanding, Starting at Dec. 31, 2018	59,582,890	0	0	500,000	500,000
Common stock issued against Common stock to be issued	$ 0	$ 0	$ 0	$ 0	$ 0	7,500	0	0	7,500
Stock Issued During Period, Shares, New Issues	0	0	0	0	0
Stock Issued During Period, Value, Other	$ 125	$ 0	$ 0	$ 0	$ 0	0	1,592,687	0	1,592,812
Stock Issued During Period, Shares, Other	1,250,000	0	0	0	0
Common stock issued per stock purchase agreement	$ 24	$ 0	$ 0	$ 0	$ 0	0	399,976	0	400,000
Common stock issued per stock purchase agreement, shares	239,521	0	0	0	0
Stock based compensation - stock options	$ 0	$ 0	$ 0	$ 0	$ 0	0	1,137,500	0	1,137,500
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(2,342,677)	(2,342,677)
Shares Outstanding, Ending at Mar. 31, 2019	61,072,411	0	0	500,000	500,000
Equity Balance, Ending at Mar. 31, 2019	$ 6,107	$ 0	$ 0	$ 50	$ 50	48,500	25,993,771	(31,335,162)	(5,286,684)
Equity Balance, Starting at Dec. 31, 2018	$ 5,958	$ 0	$ 0	$ 50	$ 50	41,000	22,863,608	(28,992,485)	(6,081,819)
Shares Outstanding, Starting at Dec. 31, 2018	59,582,890	0	0	500,000	500,000
Gain on settlement of liabilities transferred to capital	$ 0	$ 0	$ 0	$ 0	$ 0		0	0	0
Shares Outstanding, Ending at Sep. 30, 2019	62,785,419	0	0	500,000	500,000
Equity Balance, Ending at Sep. 30, 2019	$ 6,279	$ 0	$ 0	$ 50	$ 50	7,500	27,812,413	(34,003,930)	(6,177,638)
Equity Balance, Starting at Mar. 31, 2019	$ 6,107	$ 0	$ 0	$ 50	$ 50	48,500	25,993,771	(31,335,162)	(5,286,684)
Shares Outstanding, Starting at Mar. 31, 2019	61,072,411	0	0	500,000	500,000
Common stock issued against Common stock to be issued	$ 2	$ 0	$ 0	$ 0	$ 0	(48,500)	48,498	0	0
Stock Issued During Period, Shares, New Issues	19,668	0	0	0	0
Common stock to be issued for consulting services	$ 0	$ 0	$ 0	$ 0	$ 0	7,500	0	0	7,500
Common stock to be issued for consulting services, shares	0	0	0	0	0
Stock Issued During Period, Value, Other	$ 75	$ 0	$ 0	$ 0	$ 0	0	695,926	0	696,001
Stock Issued During Period, Shares, Other	750,000	0	0	0	0
Fair value of stock options	$ 0	$ 0	$ 0	$ 0	$ 0	0	227,500	0	227,500
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(1,805,150)	(1,805,150)
Shares Outstanding, Ending at Jun. 30, 2019	61,842,079	0	0	500,000	500,000
Equity Balance, Ending at Jun. 30, 2019	$ 6,184	$ 0	$ 0	$ 50	$ 50	7,500	26,965,695	(33,140,312)	(6,160,833)
Common stock issued against Common stock to be issued	$ 1	$ 0	$ 0	$ 0	$ 0	(7,500)	7,499	0	0
Stock Issued During Period, Shares, New Issues	6,055	0	0	0	0
Common stock to be issued for consulting services	$ 0	$ 0	$ 0	$ 0	$ 0	7,500	0	0	7,500
Common stock to be issued for consulting services, shares	0	0	0	0	0
Stock Issued During Period, Value, Other	$ 25	$ 0	$ 0	$ 0	$ 0	0	111,788	0	111,813
Stock Issued During Period, Shares, Other	250,000	0	0	0	0
Common stock issued per stock purchase agreement	$ 69	$ 0	$ 0	$ 0	$ 0	0	499,931	0	500,000
Common stock issued per stock purchase agreement, shares	687,285	0	0	0	0
Stock Issued During Period, Value, Stock Options Exercised	$ 0	$ 0	$ 0	$ 0	$ 0	0	227,500	0	227,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	0	0	0	0
Net Income (Loss)	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	(863,618)	(863,618)
Shares Outstanding, Ending at Sep. 30, 2019	62,785,419	0	0	500,000	500,000
Equity Balance, Ending at Sep. 30, 2019	$ 6,279	$ 0	$ 0	$ 50	$ 50	$ 7,500	$ 27,812,413	$ (34,003,930)	$ (6,177,638)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (5,011,446)	$ (5,775,754)
Adjustments to reconcile net loss to cash provided by (used in ) in operating activities:
Depreciation	2,517	2,517
Stock based compensation	1,615,000	1,003,840
Amortization of prepaid insurance	79,299	65,674
Amortization of debt discount	56,195	998,736
Amortization of intangible assets	3,158	9,475
Increase in unrealized gain marketable securities	(273,720)	0
Increase in realized gain on Marketable Securities	(190,459)	0
Loss on extinguishment asset & liabilities	0	114,723
Non-cash revenue	(57,400)	0
Changes in operating assets & liabilities:
Increase in accounts receivable	(38,747)	0
Increase in prepaid expenses	(44,622)	(6,758)
Increase in prepaid insurance	(107,504)	(101,439)
Increase in inventory	(455,829)	5,373
Increase in due to First Insurance Funding	34,613	23,186
Increase in accounts payable and accrued expenses	779,708	(142,814)
Decrease in security deposit	6,816	0
Investment in Joint Venture	(27,490)	0
Net cash used in operating activities	(3,629,911)	(3,803,241)
CASH FLOW FROM INVESTING ACTIVITIES:
Proceeds from Sale of Marketable Securities	177,493	0
Net cash provided by Investing activities	177,493	0
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from due to shareholders	0	407,500
Repayment of convertible notes	(7,500)	(1,965,609)
Repayment of related party loans	(78,916)	0
Common stock issued under registration statement on Form S-3	2,400,624	3,335,732
Common stock issued per stock purchase agreement	500,000	600,000
Net cash provided by financing activities	2,814,208	2,377,623
Net decrease in cash and cash equivalents	(638,210)	(1,425,618)
Comprehensive income (loss)	0	0
Cash and cash equivalents at beginning of period	1,805,627	2,057,843
Cash and cash equivalents at end of period	1,167,417	632,225
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest	60,278	349,169
NON-CASH INVESTING AND FINANCING ACTIVITIES
Common stock issued against CS subscription	400,000	0
Common stock issued against common stock to be issued	56,000	15,000
Common stock issued against conversion of debt and interest	$ 0	$ 803,267

NOTE 1_ ORGANIZATION

NOTE 1: ORGANIZATION	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 1: ORGANIZATION	NOTE 1: ORGANIZATION The Company was originally incorporated in Nevada on November 18, 2010, as Axim International Inc. On July 24, 2014, the Company changed its name to AXIM Biotechnologies, Inc. to better reflect its business operations. The Company’s principal executive office is located at 45 Rockefeller Plaza 20th Floor, Suite 83, New York, NY 10111. On August 7, 2014, the Company formed a wholly owned Nevada subsidiary named Axim Holdings, Inc. This subsidiary will be used to help facilitate the anticipated activities planned by the Company. On May 11, 2015 the Company acquired a 100% interest in CanChew License Company a Nevada incorporated licensing Company, through the exchange of 5,826,706 shares of its common stock.

NOTE 2_ BASIS OF PRESENTATION

NOTE 2: BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 2: BASIS OF PRESENTATION	NOTE 2: BASIS OF PRESENTATION: The unaudited condensed consolidated financial statements of AXIM Biotechnologies, Inc. (formerly Axim International, Inc.) The following (a) balance sheets as of September 30, 2019 (unaudited) and December 31, 2018, which have been derived from audited financial statements, and (b) the unaudited interim statements of operations and cash flows of AXIM Biotechnologies, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2019 are not necessarily indicative of results that may be expected for the year ending December 31, 2019. These unaudited financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2018 included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on April 8, 2019.

NOTE 3_ GOING CONCERN

NOTE 3: GOING CONCERN	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 3: GOING CONCERN	NOTE 3: GOING CONCERN The Company’s condensed consolidated financial statements have been presented assuming that the Company will continue as a going concern. As shown in the condensed consolidated financial statements, the Company has negative working capital of $1,242,767 and has an accumulated deficit of $34,003,930 has cash used in operating activities of continuing operations $3,629,911. The Company extinguished its old debt and entered in debt exchange agreement. On April 16, 2018, the Company entered into a Stock Purchase Agreement and sold 3,945,000 shares of our common stock registered under the Registration Statement on Form S-3 declared effective by the Securities and Exchange Commission on September 14, 2017. This includes sales for the nine months ended September 30, 2019, during which the Company sold 2,250,000 shares and raised additional capital of $2,400,626 through this Stock Purchase Agreements. This capital provides funds for research, development, and ongoing operations. The Company intends to raise substantial additional capital through private placements of debt and equity securities, but there can be no assurance that these funds will be available on terms acceptable to the Company or will be sufficient to enable the Company to fully complete its development activities or sustain operations. If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables, reduce overhead, or scale back its current business plan until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful. That will raise a doubt about the ability of the Company to continue as a going concern. The consolidated financial statements do not include any adjustments related to the recoverability of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation.

NOTE 4_ SIGNIFICANT ACCOUNTING

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 4: SIGNIFICANT ACCOUNTING POLICIES	NOTE 4: SIGNIFICANT ACCOUNTING POLICIES Use of estimates The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 as well as the reported amounts of revenue and expenses during reporting periods. Actual results could differ from these estimates. Significant estimates are assumptions about collection of accounts receivable, useful life of intangible assets and assumptions used in Black-Scholes-Merton, or BSM, valuation methods, such as expected volatility, risk-free interest rate and expected dividend rate. Cash equivalents The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. As of September 30, 2019, the Company had no cash equivalents. Inventory Inventory consists of finished goods available for sale and raw materials owned by the Company and are stated at the lower of cost or market. As of September 30, 2019 and December 31, 2018 the Company had $189,972 and $4,922 of finished goods and $275,654 and $4,875 of raw materials, respectively. Property and equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is computed using straight-line method over the estimated useful life. New assets and expenditures that extend the useful life of property or equipment are capitalized and depreciated. Expenditures for ordinary repairs and maintenance are charged to operations as incurred. For the nine months ended September 30, 2019 and 2018 the Company recorded $2,517 of depreciation expense for each of these periods. For the three months ended September 30, 2019 and 2018 the Company recorded $839 of depreciation expenses for each of these periods. Intangible Assets As required by generally accepted accounting principles, trademarks and patents are not amortized since they have an indefinite life. Instead, they are tested annually for impairment. Intangible assets as of September 30, 2019 amounted to $50,534 net of accumulated impairment losses of $664,898. Revenue Recognition On January 1, 2018 the Company adopted guidance contained in Topic 606 (FASB ASC 606). The core principle of Topic 606 (FASB ASC 606) is that an entity should recognize revenue to depict the transfer of goods of services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revenue recognition guidance contained in Topic 606, to follow the five-step revenue recognition model along with other guidance impacted by this standard: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transportation price; (4) allocate the transportation price; (5) recognize revenue when or as the entity satisfies a performance obligation. Previous practices were broadly consistent with this approach, and the company determined the amount of revenue based on the amount customer paid or promised to pay. Revenues are recognized when title for goods is transferred; non-refundable fees and proceeds from irrevocable agreements recognized when inflows or other enhancements of assets of the Company are received. On August 21, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into an agreement with Revive Therapeutics Ltd. (“Revive”) to begin selling the Company’s flagship nutraceutical product throughout the rapidly expanding Canadian cannabis market. The agreement defines a relationship where Revive will seek regulatory approval for AXIM’s proprietary, controlled-release functional chewing gum which contains hemp oil and cannabidiol (CBD). Under the terms of the agreement, Revive will have a minimum purchase amount annually, which increases each year for the term of the agreement. On September 3, 2018, the Company entered into a Letter of Intent (“LOI”) with Impression Health Limited (“Impression”), Australian company. Pursuant to the LOI, both parties will endeavor to enter into a definitive agreement whereby the parties will co-develop new products. Impression will collaborate with Axim for the licensing and distribution of its current and future medical cannabinoid products for distribution in Australia and New Zealand. On February 8, 2019 the Company received orders for 7,500 boxes (225,000 individual units, or 22,500 blisters) of its chewing gums. The orders were produced and shipped to the clients as of September 30, 2019. On April 23, 2019, the Company announced that its nutraceutical division entered into a purchase order agreement for the purchase of 50,000 boxes (1.5 million individual pieces) of its proprietary cannabidiol (CBD)-based chewing gum with a leading direct-to-consumer company for distribution throughout the United States. On May 31, 2019, AXIM Biotechnologies, Inc. (“AXIM”) entered into a cannabinoid product supply agreement with Impression Healthcare Limited (“Impression”), Australia’s largest home dental impression company, for the supply of the AXIM’s toothpaste and mouthwash containing cannabidiol (CBD) for its clinical trial for the treatment of periodontitis. The supply agreement is in preparation for a clinical trial to test the effectiveness of CBD in treating periodontitis. The clinical trial will be performed at Swinburne University of Technology in Melbourne, Australia. In accordance with the agreement, AXIM will supply the first batch of its patented toothpaste and mouthwash products containing CBD, along with associated placebo units for Impression to perform a randomized control clinical trial. Axim received 2 million shares of Impression healthcare in consideration and recorded 57,400 in income Revenues from continuing operations recognized for the three and nine months ended September 30, 2019 and 2018 amounted to $403,012, $6,224, $513,161 and $28,646, respectively. The Company expanded sales activities and received new orders in 2019. Principles of Consolidation The consolidated financial statements include the accounts of Axim Biotechnologies, Inc. and its wholly owned subsidiaries Axim Holdings, Inc. CanChew License Company, Marina Street, LLC and Axim Biotechnologies (the Netherland Company) as of September 30, 2019. All significant intercompany transactions and balances have been eliminated in consolidation. Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of September 30, 2019, which consist of convertible instruments and rights to shares of the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirement of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed to be conventional, as described. Fair Value Measurements The Company applies the guidance that is codified under ASC 820-10 related to assets and liabilities recognized or disclosed in the financial statements at fair value on a recurring basis. ASC 820-10 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The provisions of ASC 820-10 only apply to the Company’s investment securities, which are carried at fair value. ASC 820-10 clarifies that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. ASC 820-10 requires valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows: Fair Value Hierarchy Inputs to Fair Value Methodology Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Quoted prices for similar assets or liabilities; quoted markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the financial instrument; inputs other than quoted prices that are observable for the asset or liability; or inputs that are derived principally from, or corroborated by, observable market information Level 3 Pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption is unobservable or when the estimation of fair value requires significant management judgment The Company categorizes a financial instrument in the fair value hierarchy based on the lowest level of input that is significant to its fair value measurement. As of September 30, 2019 Quoted Market Prices in Active Markets (Level 1) Internal Models with Significant Observable Market Parameters (Level 2) Internal Models with Significant Unobservable Market Parameters (Level 3) Total Fair Value Reported in Financial Statements Marketable Securities $404,518 $- $- $404,518 As of December 31, 2018 Quoted Market Prices in Active Markets (Level 1) Internal Models with Significant Observable Market Parameters (Level 2) Internal Models with Significant Unobservable Market Parameters (Level 3) Total Fair Value Reported in Financial Statements Marketable Securities $150,000 $- $- $150,000 The Company recorded a change in FMV of trading securities as unrealized gain of $273,720 and realized gain of $190,460 for the nine months ended September 30, 2019. These securities are classified as trading. The Company did not have any Level 2 or Level 3 assets or liabilities as of September 30, 2019, except for its convertible notes payable and derivative liability. The carrying amounts of these liabilities at September 30, 2019 approximate their respective fair value based on the Company’s incremental borrowing rate. Cash is as of September 30, 2019 is classified as Level 1 within our fair value hierarchy. Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for “Accounting for Derivative Instruments and Hedging Activities”. Professional standards generally provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instruments are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of “Conventional Convertible Debt Instrument”. The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards when “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their earliest date of redemption. The Company also records when necessary deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. ASC 815-40 provides that, among other things, generally, if an event is not within the entity’s control could or require net cash settlement, then the contract shall be classified as an asset or a liability. Income Taxes The Company follows Section 740-10, Income tax (“ASC 740-10”) Fair Value Measurements and Disclosures of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. 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 the Statements of Operations in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that the Company believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including reversals of any existing taxable temporary differences, projected future taxable income, tax planning strategies, and the results of recent operations. If the Company determines that it would be able to realize a deferred tax asset in the future in excess of any recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25. Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments with credit quality institutions. At times, such amounts may be in excess of the FDIC insurance limit. The Company does not have allowance for doubtful accounts at September 30, 2019 and December 31, 2018. The Company had $38,747 accounts receivable at September 30, 2019 and -0- at December 31, 2018. Net Loss per Common Share Net loss per common share is computed pursuant to section 260-10-45 Earnings Per Share (“ASC 260-10”) of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding and the member potentially outstanding during each period. In periods when a net loss is experienced, only basic net loss per share is calculated because to do otherwise would be anti-dilutive. There were 16,171,588 common share equivalents at September 30, 2019 and 15,843,037 common shares at December 31, 2018. For the nine months ended September 30, 2019 and 2018 these potential shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would reduce net loss per share. Stock Based Compensation All stock-based payments to employees and to nonemployee directors for their services as directors, including any grants of restricted stock and stock options, are measured at fair value on the grant date and recognized in the statements of operations as compensation or other expense over the relevant service period. Stock-based payments to nonemployees are recognized as an expense over the period of performance. Such payments are measured at fair value at the earlier of the date a performance commitment is reached, or the date performance is completed. In addition, for awards that vest immediately and are non-forfeitable the measurement date is the date the award is issued. Cost of Sales Cost of sales includes the purchase cost of products sold and all costs associated with getting the products to the customers including buying and transportation costs. Research and Development The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $426,665 and $350,588 for the three months ended September 30, 2019 and 2018 respectively. The Company incurred research and development expenses of $1,950,981 and $1,701,986 for the nine months ended September 30, 2019 and 2018 respectively. Shipping Costs Shipping and handling costs billed to customers are recorded in sales. Shipping costs incurred by the company are recorded in general and administrative expenses. Recently Issued Accounting Standards In March 2019, the FASB issued ASU 2019-01, Leases (Topic 842) Codification Improvements The Company has no long-term operating leases and thus the adoption of ASC 842 had no impact on the condensed consolidated financial statements. In November 2018, the FASB issued ASU 2018-18 , Collaborative Arrangements (Topic 818): Clarifying the Interaction Between Topic 808 and Topic 606 In October 2018, the FASB issued ASU 2018-17, Targeted Improvements to Related Party Guidance for Variable Interest Entities In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In July 2018, the FASB issued ASU 2018-09, “Codification Improvements.” This ASU makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the Accounting Standards Codification. The majority of the amendments in ASU 2018-09 will be effective for the Company for fiscal years beginning after December 15, 2018. The Company expects to adopt ASU 2018-09 in the first quarter of 2019. The Company is evaluating the impact of the standard and does not expect the guidance to have a material effect on its financial statements. In June 2018, the FASB issued ASU 2018-07, “Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting” In September 2017, the FASB issued ASU 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842). The effective date for ASU 2017-13 is for fiscal years beginning after December 15, 2018. In July 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): Part 1 – Accounting for Certain Financial Instruments with Down Round Features and Part 2 – Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with Scope Exception (“ASU No. 2017-11”). Part 1 of ASU No. 2017-11 addresses the complexity of accounting for certain financial instruments with down round features. Down round features are provisions in certain equity-linked instruments (or embedded features) that result in the strike price being reduced on the basis of the pricing of future equity offerings. Current accounting guidance creates cost and complexity for entities that issue financial instruments (such as warrants and convertible instruments) with down round features that require fair value measurement of the entire instrument or conversion option. Part II of ASU No. 2017-11 addresses the difficulty of navigating Topic 480, Distinguishing Liabilities from Equity, because of the existence of extensive pending content in the FASB Accounting Standards Codification®. This pending content is the result of the indefinite deferral of accounting requirements about mandatorily redeemable financial instruments of certain nonpublic entities and certain mandatorily redeemable noncontrolling interests. For public business entities, the amendments in Part I of this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The amendments in Part II of this update do not require any transition guidance because those amendments do not have an accounting effect. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties, is applicable to entities that have not commenced planned principal operations. Other recent accounting pronouncements issued by the FASB and the SEC did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

NOTE 5_ PREPAID EXPENSES

NOTE 5: PREPAID EXPENSES	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 5: PREPAID EXPENSES	NOTE 5: PREPAID EXPENSES Prepaid expenses consist of the following as of September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 Prepaid insurance $ 79,423 $ 52,105 Prepaid raw material/inventory 44,622 - $ 124,045 $ 52,105 For the three and nine months ended September 30, 2019 and 2018, the Company recognized amortization of prepaid expense of $28,481, $23,524, $79,299 and $65,675, respectively.

NOTE 6_ MARKETABLE SECURITIES

NOTE 6: MARKETABLE SECURITIES	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 6: MARKETABLE SECURITIES	NOTE 6: MARKETABLE SECURITIES The Company utilizes FAS 115 “Accounting for Certain Investments in Debt and Equity Securities”. The Company received marketable securities, 10,300,000 fully paid ordinary unrestricted shares in Impression Healthcare Limited (Australian Company), traded on Australian Security Exchange by the code IHL as part of the agreement and letter of intent (LOI). The Company categorize these securities as trading securities and report them at fair value, with realized and unrealized gains and losses included in earnings. The Company recorded securities at FMV at the price of A$0.02 per share and exchange rate of $0.74 AUD/USD valued $150,000. As of September 30, 2019, the Company received another 2,000,000 shares and sold 5,260,000 shares. On September 30, 2019 the stock price was A$ 0.085 per share as quoted on www.asx.com.au

NOTE 7_ INVESTMENT IN THIRD PAR

NOTE 7: INVESTMENT IN THIRD PARTY	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 7: INVESTMENT IN THIRD PARTY	NOTE 7: INVESTMENT IN THIRD PARTY On June 11, 2019 the Company entered in operating agreement as 1/3 member of KAM Industries, LLC, a Wyoming Limited Company. On June 18, 2019 KAM Industries LLC, entered into Joint Venture Agreement to receive a percentage of the industrial hemp harvest yield on a parcel of land in Wayne County, North Carolina owned by FarmShare, LLC with whom KAM contracted to purchase a percentage of the hemp harvest for the 2019 growing season. Once the hemp is harvested from the 2019 growing season The Company will get its 1/3 share at no additional cost. The agreement then expires unless renewed for 2020 with an additional payment. The Company paid 33.3% of the KAM Industries, LLC and recorded $27,490 as current asset as of September 30, 2019. This investment is counted by using cost method of accounting.

NOTE 8_ PROMISSORY NOTE - RELAT

NOTE 8: PROMISSORY NOTE - RELATED PARTY	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 8: PROMISSORY NOTE - RELATED PARTY	NOTE 8: PROMISSORY NOTE - RELATED PARTY On August 8, 2014 the Company entered into a Promissory Note Agreement with CanChew Biotechnologies, LLC (CCB), a related party (the owners of CCB also own a majority of the outstanding shares of the Company), under which it borrowed $1,000,000 to fund working capital. The original loan was a demand note bearing interest at the rate of 7% per annum, which amount, along with principal, was payable upon demand. The demand note was amended effective January 1, 2015 to reduce the annual interest rate to 3%. All other terms and conditions shall remain in full force and effect. The Company is in discussions to have the demand note modified or exchanged for a longer term, fixed maturity note. The following table summarizes promissory note payable as of September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 Promissory note payable, due on demand, interest at 3% p.a. $ 880,000 $ 880,000 Accrued Interest 160,272 140,526 $ 1,040,272 $ 1,020,526 For the three and nine months ended September 30, 2019 and 2018 the Company recognized interest expense of $6,654, $6,654, $19,746 and $19,746, respectively on this note.

NOTE 9_ RELATED PARTY TRANSACTI

NOTE 9: RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 9: RELATED PARTY TRANSACTIONS	NOTE 9: RELATED PARTY TRANSACTIONS The Company has received working capital advances from CanChew Biotechnologies totaling $1,649,832 as of September 30, 2019, which includes $0 received during the nine months ended September 30, 2019. The advances are payable on demand. As of September 30, 2019, the company paid back $78,917 advances. The Company is in discussions to have the advances reduced to a longer term, fixed maturity note. The advance is classified as due in current liabilities. Effective April 2, 2019, Blake N. Schroeder resigned as a member of the company’s Board of Directors. Mr. Schroeder’s resignation was not because of any disagreements with the Company on matters relating to its operations, policies and practices. On April 3, 2019 pursuant to the Company’s Amended and Restated Bylaws, the holder of the Company’s Series C Preferred Stock appointed Mauricio Javier Gatto-Bellora to fill the director seat vacated by the resignation of Mr. Schroeder. Effective January 1, 2019 the company entered into a thirty month consulting agreement with the chairman of the board which pays a monthly consulting fee of $20,000. The company has also been paying a monthly bonus fee of 15,000; this additional fee is on a month to month basis at the discretion of management. As of September 30, 2019, the total outstanding balance was $35,000 for consulting fees.

NOTE 10_ DUE TO FIRST INSURANCE

NOTE 10: DUE TO FIRST INSURANCE FUNDING	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 10: DUE TO FIRST INSURANCE FUNDING	NOTE 10: DUE TO FIRST INSURANCE FUNDING On June 25, 2019, the Company renewed its D&O and EPL insurance policy with total premiums, taxes and fees for $97,000 and $6,849 respectively. A cash down payment of $20,850 was paid on July 16, 2019. Under the terms of the insurance financing, payments of $9,501, which include interest at the rate of 7.2% per annum, are due each month for nine months commencing on July 25, 2019. For the nine months ended September 30, 2019 and 2018 the Company recognized insurance expense of $79,299 and $65,675 respectively.

NOTE 11_ CONVERTIBLE NOTES PAYA

NOTE 11: CONVERTIBLE NOTES PAYABLE	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 11: CONVERTIBLE NOTES PAYABLE	NOTE 11: CONVERTIBLE NOTES PAYABLE The following table summarizes convertible note payable- shareholder as of September 30, 2019 and December 31, 2018 September 30, 2019 December 31, 2018 Convertible note payable, due on July 1, 2028, interest at 3.5% p.a. $ 45,000 $ 45,000 Accrued interest 5,176 3,981 $ 50,176 $ 48,981 On November 26, 2012, the Company entered into an interest free $50,000 convertible loan payable maturing on December 31, 2014. The note was convertible into the Company’s common stock at a conversion price of $0.10 per share. The Company was unable to repay the loan as of December 31, 2014 and obtained multiple extensions until December 31, 2015. The Company had paid no interest or other consideration in return for the extensions of the loan. Unable to obtain further extension of the maturity date, on June 29, 2016, the Company entered into a Debt Exchange Agreement with the note holder whereby the Company exchange the note having a balance due of $50,000 as of December 31, 2015, for a long-term convertible note in the amount of $50,000. The new Convertible Note (“Note”) bears interest at the rate of 3.5% per annum, payable annually beginning on July 1, 2017, and matures on July 1, 2028. The Note is convertible, in whole or in part at any time at the option of the holder, into the Company’s common stock at a conversion price of $0.01, provided however, the holder of the Note is not permitted to convert an amount of the Note that would result in the holder and its affiliates owning more than 4.9% of the Company’s outstanding common stock. The Company determined fair value of new debt $1,435,000 and as result was recorded $1,385,000 as a loss on debt extinguishment at the year-end December 31, 2016. On September 30, 2016, the holder of the Note converted $5,000 face value into 500,000 shares of the Company’s common stock. The balance on the Note as of September 30, 2019 is $50,176, including interest accrued thereon of $5,176. The following table summarizes convertible note payable as of September 30, 2019 and December 31, 2018: September 30, 2019 December 31, 2018 Convertible note payable, due on October 1, 2029, interest at 3.5% p.a. $ 484,478 $ 484,478 Convertible note payable, due on October 1, 2029, interest at 3.5% p.a. 1,000,000 1,000,000 Convertible note payable, due on November 1, 2021, interest at 3.5% p.a. 4,000,000 4,000,000 Accrued interest 213,263 128,752 Total 5,697,741 5,613,230 Less: unamortized debt discount/finance premium costs (758,809) (815,004) Convertible note payable, net 4,938,932 4,798,226 Less: current portion - - Long term portion $ 4,938,932 $ 4,798,226 On September 16, 2016, we entered into a convertible note purchase agreement (the “Convertible Note Purchase Agreement” or “Agreement”) with a third-party investor. Under the terms of the Convertible Note Purchase Agreement the investor may acquire up to $5,000,000 of convertible notes from the Company. With various closings, under terms acceptable to the Company and the investor as of the time of each closing. Pursuant to the Agreement, on September 16, 2016 the investor provided the Company with $850,000 secured convertible note financing pursuant to four (4) Secured Convertible Promissory Notes (the “Notes”). Each of the Notes matures on October 1, 2029, and pay 3.5% compounded interest paid bi-annually. The Note are secured by the assets of the Company, may not be pre-paid without the consent of the holder, and are convertible at the option of the holder into shares of the Company common stock at a conversion price equal to (i) $0.2201 or (ii) 80% of closing price of the Company’s common stock as of the date of conversion. At the inception of the Convertible Promissory Note, the Company determined a fair value of $1,062,500 of the embedded derivative. On October 20, 2016, the terms of a above Convertible note was modified into convertible note with fixed conversion price of $0.2201. The derivative liability balance on the Note as of modified date is $1,274,422 re-classed into additional paid in capital. On March 8, 2018, the holder converted $210,422 note, which included $10,422 interest into 956,030 restricted shares of the Company’s common stock. On March 13, 2018 the holder converted $176,080 of convertible note, which included $10,558 interest, into 800,000 shares of the Company’s common stock. As of September 30, 2019, the balance of secured convertible notes was $534,894 which included $50,416 accrued interest. On October 20, 2016 a third-party investor provided the Company with $1,000,000 secured convertible note financing pursuant to three (3) Secured Convertible Promissory Notes (the “Notes”). Each of the Notes mature on October 1, 2029 and pay 3.5% compounded interest paid bi-annually. The Notes are secured by the assets of the Company, may not be pre-paid without the consent of the holder, and are convertible at the option of the holder into shares of the Company’s common stock at a fixed conversion price equal to (i) $0.2201 or (ii) 80% of closing price of the Company’s common stock as of the date of conversion. The investor paid cash of $500,000 for one of the Notes and issued to the Company two (2) secured promissory notes of $250,000 each for two (2) Convertible Notes of $250,000 each. The two secured promissory notes issued by the investor (totaling $500,000) as payment for two (2) secured Notes totaling $500,000 mature on February 1, 2017 ($250,000) and March 1, 2017 ($250,000), bear interest at the rate of 1% per annum, are full recourse and additionally secured by 10,486,303 shares of Medical Marijuana, Inc. (Pink Sheets symbol: MJNA) and were valued at $858,828 based upon the closing price of MJNA on October 20, 2016. On October 20, 2016, the terms of a above Convertible note was modified into convertible note with fixed conversion price of $0.2201. Since the modification happened on the same day, the note was treated to have fixed conversion price and accordingly debt discount was recorded related to beneficial conversion feature. In connection with this convertible note, the Company recorded a $499,318 discount on debt, related to the beneficial conversion feature of the note to be amortized over the life of the note or until the note is converted or repaid. As of September 30, 2019, this note has not been converted and the balance of secured convertible notes was $1,104,514 which included $104,514 accrued interest. On November 27, 2018 the Company extinguished debt with Investor. Investor had proposed a financing transaction pursuant to which the Company will satisfy and retire the Original Note and Original Note current balance in simultaneous exchange for and upon delivery by the Company of a (1) new Convertible Promissory Note in the principal amount of $4,000,000 (the “Exchange Note”), and (2) 250,000 shares of the Company’s restricted common stock (the “Origination Shares”). On December 19, 2018 the Company entered into Amendment to Securities Purchase Agreement with Investor. Pursuant to amendments, the amount of Origination Shares increased from 250,000 to 400,000 shares of Company’s Common Stock. On November 27, 2018, simultaneously, Investor and the Company entered in Debt Exchange Agreement with Medical Marijuana Inc. As part of this agreement Investor will exchange and deliver the AXIM note to Medical Marijuana in exchange for a Convertible Promissory note. Axim consented to the transfer and assignment of the Axim Note in exchange for the issuance by the Medical Marijuana of the Exchange Note. The interest on this note is payable bi-annually every May 1 and November 1. On May 1, 2019 the Company paid accrued interest of $60,278. As of September 30, 2019, the balance of secured convertible note was $4,058,333 which included $58,333 accrued interest. During the three and nine months ended September 30, 2019 and 2018 the Company amortized the debt discount on all the notes of $18,870, $193,262, $56,195 and $998,736, respectively, to other expenses.

NOTE 12_ STOCK INCENTIVE PLAN

NOTE 12: STOCK INCENTIVE PLAN	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 12: STOCK INCENTIVE PLAN	NOTE 12: STOCK INCENTIVE PLAN On May 29, 2015 the Company adopted its 2015 Stock Incentive Plan. Under the Plan the Company may issue up to 10,000,000 S-8 shares to officers, employees, directors or consultants for services rendered to the Company or its affiliates or to incentivize such parties to continue to render services. S-8 shares are registered immediately upon the filing of the Plan and are unrestricted shares that are free-trading upon issuance. There were 9,806,000 shares available for issuance under the Plan as of September 30, 2019. On January 2, 2019, John Huemoeller the CEO was granted the option to purchase 2 million shares of Axim Common stock under the plan at a purchase price of $0.75 per share. 1 million shares vested immediately and 1 million shares vest at the end of 2019.

NOTE 13_ STOCKHOLDERS' DEFICIT

NOTE 13: STOCKHOLDERS' DEFICIT	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 13: STOCKHOLDERS' DEFICIT	NOTE 13: STOCKHOLDERS’ DEFICIT Preferred Stock The Company has authorized 5,000,000 shares of preferred stock, with a par value of $0.0001 per share. Of the 5,000,000 authorized preferred shares, 4,000,000 are undesignated “blank check” preferred stock. The Company may issue such preferred shares and designate the rights, privileges and preferences of such shares at the time of designation and issuance. As of September 30, 2019, and December 31, 2018 there are -0- and -0- shares of undesignated preferred shares issued and outstanding, respectively. Series A Convertible Preferred Stock The Company also has authorized 1,000,000 shares of Series A Convertible Preferred Stock, which had been previously issued to Sanammad Foundation and subsequently assigned and transferred by Sanammad to Treo Holdings, LLC (“Treo”). On June 28, 2016 the Company, Sanammad and Treo agreed that the issuance of the Series A Convertible Preferred be rescinded and that such share issuance be cancelled. The Company accounted for this cancelation of preferred stock as equity transaction and accordingly the par value of preferred stock adjusted against additional paid in capital account. Each share of the Series A Convertible Preferred Stock is convertible into five (5) shares of the Company’s common stock at any time at the discretion of the holder. The Series A Convertible Preferred Stock provides for a liquidation preference as follows; In the event of any liquidation, dissolution or winding up of the Company, whether voluntary or involuntary (a “Liquidation”), the assets of the Company available for distribution to its shareholders shall be distributed as follows. The holders of the Series A Convertible Preferred Stock shall be entitled to receive, prior to the holders of the other series of preferred stock, if any, and prior and in preference to any distribution of the assets or surplus funds of the Company to the holders of any other shares of stock of the Company by reason of their ownership of such stock: (i) all shares of common stock of any subsidiary of the Company which are held by the Company: and (ii) an amount equal to $1.00 per share with respect to each share of Series A Convertible Preferred stock, plus all declared but unpaid dividends with respect to such share. The Series A Convertible Preferred Stock also contains super-majority voting rights and a number of protective covenants. As of September 30, 2019, and 2018 there are -0- and -0- Series A Convertible Preferred shares issued and outstanding; respectively. Series B Convertible Preferred Stock On August 17, 2016 the Company designated up to 500,000 shares of a new Series B Convertible Preferred Stock (Series B Preferred Stock). The holders of the Series B Preferred are entitled to elect three members to the Company’s board of directors and are entitled to cast 100 votes per share on all other matters presented to the shareholders for a vote. Each share of Series B Convertible Preferred is convertible into one share of the Company’s common stock. The Series B Convertible Preferred designation contains a number of protective and restrictive covenants that restrict the Company from taking a number of actions without the prior approval of the holders of the Series B Preferred or the unanimous vote of all three Series B Directors. On August 18, 2016 the Company issued all 500,000 shares of its newly designated Series B Preferred Stock to Sanammad Foundation in exchange for cash of $50,000. As the holders of the Series B Preferred Stock, Sanammad has designated the current directors, Dr. George E. Anastassov, Dr. Phillip A. Van Damme and Mr. Lekhram Changoer as their three Series B Directors. Series C Convertible Preferred Stock On August 17, 2016 the Company designated up to 500,000 shares of a new Series C Convertible Preferred Stock (Series C Preferred Stock). The holders of the Series C Preferred are entitled to elect four members to the Company’s board of directors and are entitled to cast 100 votes per share on all other matters presented to the shareholders for a vote. Each share of Series C Convertible Preferred is convertible into one share of the Company’s common stock. The Series C Convertible Preferred designation contains a number of protective and restrictive covenants that restrict the Company from taking a number of actions without the prior approval of the holders of the Series C Preferred or the unanimous vote of all four Series C Directors. If at any time there are four Series C Directors, one such director must be independent as that term is defined in the Series C designation. Any challenge to the independence of a Series C Director is a right conferred only upon the holders of the Series B Convertible Preferred Stock and may only be made by the holders of the Series B Convertible Preferred Stock. On August 18, 2016 the Company issued all 500,000 shares of its newly designated Series C Preferred Stock to MJNA Investment Holdings, LLC in exchange for cash of $65,000. As the holders of the Series C Preferred Stock, MJNA Investment Holdings, LLC has designated Dr. Timothy R. Scott, John W. Huemoeller II, Robert Cunningham and Blake Schroeder as their four Series C Directors. On February 20, 2019, MJNA Investment Holdings LLC (“Seller”) sold its 500,000 shares of AXIM Biotechnologies, Inc.’s, a Nevada corporation (the “Company”) Series C Preferred Stock to Juniper & Ivy Corporation, a Nevada corporation (“Purchaser”) for a purchase price of $500,000 (the “Purchase Price”) pursuant to a Preferred Stock Purchase Agreement (the “Purchase Agreement”). Payment of the Purchase Price was made as follows (i) a $65,000 payment made by check payable to Seller, which Purchaser borrowed from an unrelated third-party and which has no recourse against the Series C Preferred Stock or assets of Purchaser (the “Loan”), and (ii) the issuance by Purchaser to Seller of a promissory note, face value, $435,000, which has no recourse against the Series C Preferred Stock or assets of Purchaser (the “Note”). The Company’s Chief Executive Officer John W. Huemoeller II is the President of Purchaser. Mr. Huemoeller provided a personal guaranty for the Loan and the Note. The holders of the Series C Preferred Stock are entitled to elect four members to the Company’s Board of Directors and are entitled to cast 100 votes per share on all other matters presented to the shareholders for a vote. As a result of this transaction, a change in control has occurred. Effective April 2, 2019, Blake N. Schroeder resigned as a member of the Company’s Board of Directors. Mr. Schroeder’s resignation was not because of any disagreements with the Company on matters relating to its operations, policies and practices. On April 3, 2019 pursuant to the Company’s Amended and Restated Bylaws, the holder of the Company’s Series C Preferred Stock appointed Mauricio Javier Gatto-Bellora to fill the director seat vacated by the resignation of Mr. Schroeder. Common Stock The Company has authorized 300,000,000 shares of common stock, with a par value of $0.0001 per share. As of September 30, 2019, and December 31, 2018, the Company had 62,785,419 and 59,582,890 shares of common stock issued and outstanding, respectively. During the period between January 1, 2019 and September 30, 2019 the Company issued total 2,250,000 shares valued $2,400,626 pursuant to the Company’s Registration Statement on Form S-3. The Company received $2,400,626 in cash. On March 12, July 11, 2019 the Company issued 239,521, and 687,285 restricted shares of its common stock to third party valued at $400,000, and $500,000 pursuant to the stock purchase agreement. The cash was received in 2018 and 2019 respectively. On May 23, August 1, 2019 the Company issued 19,668, and 6,055 shares of its common stock to its Advisory board valued at $48,500, and $7,500 respectively, which were carried on the books as stock to be issued.

NOTE 14_ STOCK OPTIONS

NOTE 14: STOCK OPTIONS	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 14: STOCK OPTIONS	NOTE 14: STOCK OPTIONS On January 02, 2019, the Company granted 2,000,000 options with an exercise price of $0.75 per share to the Company owned by Mr. John Huemoeller, Chief Executive Officer of the Company. The following table summarizes the changes in options outstanding, option exercisability and the related prices for the shares of the Company’s common stock issued to employees and consultants under a stock option plan at September 30, 2019: Options Outstanding Options Exercisable Exercise Prices ($) Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price ($) Number Exercisable Weighted Average Exercise Price ($) $0.75 2,000,000 10 $0.75 2,000,000 $0.75 The stock option activity for the year ended September 30, 2019 is as follows: Options Outstanding Weighted Average Exercise Price Outstanding at December 31, 2018 - - Granted 2,000,000 $0.75 Exercised - - Expired or canceled - - Outstanding at September 30, 2019 2,000,000 $ 0.75 Stock-based compensation expense related to vested options was $1,592,500 during the nine months ended September 30, 2019. which includes $227,500 compensation expenses for unvested options. The Company determined the value of share-based compensation for options vesting during nine months ended September 30, 2019 using the Black-Scholes fair value option-pricing model with the following weighted average assumptions: estimated fair value of Company’s common stock of $0.91, risk-free interest rate of 2.66%, volatility of 318%, expected lives of 10 years, and dividend yield of 0%.

NOTE 15_ COMMITMENT AND CONTING

NOTE 15: COMMITMENT AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 15: COMMITMENT AND CONTINGENCIES	NOTE 15: COMMITMENT AND CONTINGENCIES On September 1, 2016, the Company entered into an amended and restated employment agreement with Dr. George Anastassov, its Chief Executive Officer, Chief Financial Officer and Secretary. The agreement does not have a set term and may be terminated at any time by the Company or Dr. Anastassov with proper notice. Under the agreement, Dr. Anastassov receives an annual base compensation of $240,000 and an incentive payment of 2,000,000 shares of the Company’s common stock due upon execution of the agreement. On March 20, 2018 the Company issued 50,000 restrictive shares of its common stock and recorded $235,000 of compensation expenses in the accompanying consolidated financial statements to account for the issuance of the incentive shares. In addition, Dr. Anastassov is currently receiving an additional $15,000 per month as bonus compensation. On January 2, 2019 Dr. George Anastassov resigned as the Chief Executive Officer of Axim Biotechnologies, Inc. Dr. Anastassov will remain a member and Chairman of the Board of Directors and will retain the title of Founder in a consulting role with the Company. On January 2, 2019 the Company entered into the term of Executive’s employment agreement, at a base salary of $10,000 per month with John W. Huemoeller II to serve as its Chief Executive Officer. The Company and Executive acknowledge and agree that Executive’s employment hereunder shall at all times be “at will,” which means that either Executive may resign at any time for any reason or for no reason, and that the Company may terminate Executive’s employment at any time for any reason or for no reason, in either case, subject to the applicable provisions of this Agreement. In further consideration for Executive’s services and subject to the approval of the Board, Executive will be granted an option to purchase 2,000,000 shares of the Company’s common stock (the “Option Shares”). The option will be subject to the terms and conditions applicable to stock options granted under the Company’s 2015 Stock Incentive Plan, as amended from time to time (the “Plan”), and as described in the Plan and the stock option agreement, which Executive will be required to sign. 50% of the Option Shares shall vest on the date of grant and the remaining 50% of the Option Shares shall vest on the 12- month anniversary of the grant date, subject to Executive’s continued employment by the Company. The exercise price per share will be equal to the fair market value per share on the date of grant, as determined by the last closing price of the Company’s common stock the day prior to grant. On January 2, 2019 the Company recorded $910,000 of compensation expenses for vested stock options. On September 30, 2019 recorded $682,500 compensation expenses for unvested options. On September 1, 2016, the Company entered into an amended and restated employment agreement with Mr. Lekhram Changoer, its Chief Technology Officer. The agreement does not have a set term and may be terminated at any time by the Company or Mr. Changoer with proper notice. Under the agreement Mr. Changoer receives an annual base compensation of $240,000 and an incentive payment of 2,000,000 shares of the Company’s common stock due upon execution of the agreement. On March 20, 2018 the Company issued 50,000 restrictive shares of its common stock and recorded $235,000 of compensation expenses in the accompanying consolidated financial statements to account for the issuance of the incentive shares. On April 24, 2017 the company entered into an employment agreement with Robert Malasek, its Chief Financial Officer and Secretary. The agreement does not have a set term and may be terminated at any time by the Company or Mr. Malasek with proper notice. The shares were issued in the 1 st On May 7, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into a Supply Agreement with Noramco, Inc. for the long-term purchase of pharmaceutical grade dronabinol. The agreement outlines an initial purchase of the Active Pharmaceutical Ingredient (“API”) dronabinol, which is a synthetic form of tetrahydrocannabinol (THC), to be used in the Company’s clinical trials for treatment of chemotherapy-induced nausea/vomiting and anorexia associated with weight loss in patients with cancer or AIDS eference listed drug On August 21, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into an agreement with Revive Therapeutics Ltd. (“Revive”) to begin selling the Company’s flagship nutraceutical product throughout the rapidly expanding Canadian cannabis market. The agreement defines a relationship where Revive will seek regulatory approval for AXIM’s proprietary, controlled-release functional chewing gum which contains hemp oil and cannabidiol (CBD). Under the terms of the agreement, Revive will have a minimum purchase amount annually, which increases each year for the term of the agreement. On September 10, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into a Letter of Intent (“LOI”) with Impression Healthcare Limited (“Impression”), Australia’s largest home dental impression company, for exclusive distribution of all AXIM® Biotech products throughout Australia and New Zealand. Pursuant to the LOI, both parties will endeavor to enter into a definitive agreement whereby the parties will co-develop new products, initially for pre-clinical and phase 1 trials (among other clinical trials), including an oral rinse liquid targeted for the treatment of oral mucositis, strep throat, oral infections and gum disease. Pending initial discussions and an internal review of AXIM® Biotech and its product offerings, Impression will collaborate with AXIM® Biotech for the licensing and distribution of its current and future medicinal cannabis products for distribution in Australia and New Zealand. On December 20, 2018 the Company signed Exclusivity Agreement on terms that include Exclusivity period of 90 days after the date on which this agreement is executed with Impression in exchange for 10,300,000 ordinary fully paid shares in Impression at the price of A$0.02 per share and exchange rate of $0.74 AUD/USD valued $150,000 which the Company recognized as a revenue in 4 th On May 31, 2019, AXIM Biotechnologies, Inc. (“AXIM”) entered into a cannabinoid product supply agreement with Impression Healthcare Limited (“Impression”), Australia’s largest home dental impression company, for the supply of the AXIM’s toothpaste and mouthwash containing cannabidiol (CBD) for its clinical trial for the treatment of periodontitis. The supply agreement is in preparation for a clinical trial to test the effectiveness of CBD in treating periodontitis. The clinical trial will be performed at Swinburne University of Technology in Melbourne, Australia. In accordance with the agreement, AXIM will supply the first batch of its patented toothpaste and mouthwash products containing CBD, along with associated placebo units for Impression to perform a randomized control clinical trial. On July 2, 2019, AXIM Biotechnologies, Inc. (“AXIM”) entered into a multi-term, non-exclusive license and distribution agreement (“Agreement”) with Colorado based gum developer, KISS Industries, LLC (“KISS Industries”). Under the terms of the Agreement, AXIM grants KISS Industries a non-exclusive license to formulate and sell products that fall within AXIM’s cannabinoid chewing gum patent in exchange for royalties to be paid to AXIM based upon KISS Industries sales in the United States and Mexico. The Agreement also grants AXIM the right to: (i) acquire 10 percent of KISS Industries under certain conditions; and (ii) match any outside future offer to acquire KISS Industries as a whole. Further, AXIM’s CEO John W. Huemoeller II will also join the Board of Directors of KISS Industries. In exchange for this license Kiss Industries will pay Axim 6% of gross sales as a royalty on all licensed products sold by Kiss. In the territory covered by this license which is the USA and Mexico. (Minimum annual royalty $50,000). Kiss will manufacture for Axim various licensed products at a price equal to 140% of Kiss’s cost. Operating Lease The Company is renting an office at 45 Rockefeller Plaza 20 th The Company is renting a warehouse at Boelewerf 32, 2987 VD, Ridderkerk, Netherlands on a month to month basis, monthly rent is EUR 1,731 or approximately $2,000. Litigation As of September 30, 2019, and this report issuing date, the Company is not a party to any pending material legal proceeding. To the knowledge of management, no federal, state or local governmental agency is presently contemplating any proceeding against the Company. To the knowledge of management, no director, executive officer or affiliate of the Company, any owner of record or beneficially of more than five percent of the Company’s Common Stock is a party adverse to the Company or has a material interest adverse to the Company in any proceeding.

NOTE 16_ SUBSEQUENT EVENTS

NOTE 16: SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2019
Notes
NOTE 16: SUBSEQUENT EVENTS	NOTE 16: SUBSEQUENT EVENTS On October 25, 2019, the Company has issued 250,000 shares of common stock registered on Form S-3 to Cross & Company valued at $113,750 pursuant to the stock purchase agreement.

NOTE 4_ SIGNIFICANT ACCOUNTIN_2

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Use of estimates (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Use of estimates	Use of estimates The preparation of the unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America 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 as well as the reported amounts of revenue and expenses during reporting periods. Actual results could differ from these estimates. Significant estimates are assumptions about collection of accounts receivable, useful life of intangible assets and assumptions used in Black-Scholes-Merton, or BSM, valuation methods, such as expected volatility, risk-free interest rate and expected dividend rate.

NOTE 4_ SIGNIFICANT ACCOUNTIN_3

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Cash equivalents (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Cash equivalents	Cash equivalents The Company considers all highly liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. As of September 30, 2019, the Company had no cash equivalents.

NOTE 4_ SIGNIFICANT ACCOUNTIN_4

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Inventory (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Inventory	Inventory Inventory consists of finished goods available for sale and raw materials owned by the Company and are stated at the lower of cost or market. As of September 30, 2019 and December 31, 2018 the Company had $189,972 and $4,922 of finished goods and $275,654 and $4,875 of raw materials, respectively.

NOTE 4_ SIGNIFICANT ACCOUNTIN_5

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Property and equipment (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Property and equipment	Property and equipment Property and equipment are carried at cost less accumulated depreciation. Depreciation is computed using straight-line method over the estimated useful life. New assets and expenditures that extend the useful life of property or equipment are capitalized and depreciated. Expenditures for ordinary repairs and maintenance are charged to operations as incurred. For the nine months ended September 30, 2019 and 2018 the Company recorded $2,517 of depreciation expense for each of these periods. For the three months ended September 30, 2019 and 2018 the Company recorded $839 of depreciation expenses for each of these periods.

NOTE 4_ SIGNIFICANT ACCOUNTIN_6

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Intangible Assets (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Intangible Assets	Intangible Assets As required by generally accepted accounting principles, trademarks and patents are not amortized since they have an indefinite life. Instead, they are tested annually for impairment. Intangible assets as of September 30, 2019 amounted to $50,534 net of accumulated impairment losses of $664,898.

NOTE 4_ SIGNIFICANT ACCOUNTIN_7

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Revenue Recognition	Revenue Recognition On January 1, 2018 the Company adopted guidance contained in Topic 606 (FASB ASC 606). The core principle of Topic 606 (FASB ASC 606) is that an entity should recognize revenue to depict the transfer of goods of services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The revenue recognition guidance contained in Topic 606, to follow the five-step revenue recognition model along with other guidance impacted by this standard: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transportation price; (4) allocate the transportation price; (5) recognize revenue when or as the entity satisfies a performance obligation. Previous practices were broadly consistent with this approach, and the company determined the amount of revenue based on the amount customer paid or promised to pay. Revenues are recognized when title for goods is transferred; non-refundable fees and proceeds from irrevocable agreements recognized when inflows or other enhancements of assets of the Company are received. On August 21, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into an agreement with Revive Therapeutics Ltd. (“Revive”) to begin selling the Company’s flagship nutraceutical product throughout the rapidly expanding Canadian cannabis market. The agreement defines a relationship where Revive will seek regulatory approval for AXIM’s proprietary, controlled-release functional chewing gum which contains hemp oil and cannabidiol (CBD). Under the terms of the agreement, Revive will have a minimum purchase amount annually, which increases each year for the term of the agreement. On September 3, 2018, the Company entered into a Letter of Intent (“LOI”) with Impression Health Limited (“Impression”), Australian company. Pursuant to the LOI, both parties will endeavor to enter into a definitive agreement whereby the parties will co-develop new products. Impression will collaborate with Axim for the licensing and distribution of its current and future medical cannabinoid products for distribution in Australia and New Zealand. On February 8, 2019 the Company received orders for 7,500 boxes (225,000 individual units, or 22,500 blisters) of its chewing gums. The orders were produced and shipped to the clients as of September 30, 2019. On April 23, 2019, the Company announced that its nutraceutical division entered into a purchase order agreement for the purchase of 50,000 boxes (1.5 million individual pieces) of its proprietary cannabidiol (CBD)-based chewing gum with a leading direct-to-consumer company for distribution throughout the United States. On May 31, 2019, AXIM Biotechnologies, Inc. (“AXIM”) entered into a cannabinoid product supply agreement with Impression Healthcare Limited (“Impression”), Australia’s largest home dental impression company, for the supply of the AXIM’s toothpaste and mouthwash containing cannabidiol (CBD) for its clinical trial for the treatment of periodontitis. The supply agreement is in preparation for a clinical trial to test the effectiveness of CBD in treating periodontitis. The clinical trial will be performed at Swinburne University of Technology in Melbourne, Australia. In accordance with the agreement, AXIM will supply the first batch of its patented toothpaste and mouthwash products containing CBD, along with associated placebo units for Impression to perform a randomized control clinical trial. Axim received 2 million shares of Impression healthcare in consideration and recorded 57,400 in income Revenues from continuing operations recognized for the three and nine months ended September 30, 2019 and 2018 amounted to $403,012, $6,224, $513,161 and $28,646, respectively. The Company expanded sales activities and received new orders in 2019.

NOTE 4_ SIGNIFICANT ACCOUNTIN_8

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Axim Biotechnologies, Inc. and its wholly owned subsidiaries Axim Holdings, Inc. CanChew License Company, Marina Street, LLC and Axim Biotechnologies (the Netherland Company) as of September 30, 2019. All significant intercompany transactions and balances have been eliminated in consolidation.

NOTE 4_ SIGNIFICANT ACCOUNTIN_9

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Derivative Liabilities (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Derivative Liabilities	Derivative Liabilities The Company assessed the classification of its derivative financial instruments as of September 30, 2019, which consist of convertible instruments and rights to shares of the Company’s common stock and determined that such derivatives meet the criteria for liability classification under ASC 815. ASC 815 generally provides three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument subject to the requirement of ASC 815. ASC 815 also provides an exception to this rule when the host instrument is deemed to be conventional, as described.

NOTE 4_ SIGNIFICANT ACCOUNTI_10

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Fair Value Measurements (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Fair Value Measurements	Fair Value Measurements The Company applies the guidance that is codified under ASC 820-10 related to assets and liabilities recognized or disclosed in the financial statements at fair value on a recurring basis. ASC 820-10 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. The provisions of ASC 820-10 only apply to the Company’s investment securities, which are carried at fair value. ASC 820-10 clarifies that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. ASC 820-10 requires valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows: Fair Value Hierarchy Inputs to Fair Value Methodology Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Quoted prices for similar assets or liabilities; quoted markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the financial instrument; inputs other than quoted prices that are observable for the asset or liability; or inputs that are derived principally from, or corroborated by, observable market information Level 3 Pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption is unobservable or when the estimation of fair value requires significant management judgment The Company categorizes a financial instrument in the fair value hierarchy based on the lowest level of input that is significant to its fair value measurement. As of September 30, 2019 Quoted Market Prices in Active Markets (Level 1) Internal Models with Significant Observable Market Parameters (Level 2) Internal Models with Significant Unobservable Market Parameters (Level 3) Total Fair Value Reported in Financial Statements Marketable Securities $404,518 $- $- $404,518 As of December 31, 2018 Quoted Market Prices in Active Markets (Level 1) Internal Models with Significant Observable Market Parameters (Level 2) Internal Models with Significant Unobservable Market Parameters (Level 3) Total Fair Value Reported in Financial Statements Marketable Securities $150,000 $- $- $150,000 The Company recorded a change in FMV of trading securities as unrealized gain of $273,720 and realized gain of $190,460 for the nine months ended September 30, 2019. These securities are classified as trading. The Company did not have any Level 2 or Level 3 assets or liabilities as of September 30, 2019, except for its convertible notes payable and derivative liability. The carrying amounts of these liabilities at September 30, 2019 approximate their respective fair value based on the Company’s incremental borrowing rate. Cash is as of September 30, 2019 is classified as Level 1 within our fair value hierarchy.

NOTE 4_ SIGNIFICANT ACCOUNTI_11

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Convertible Instruments (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Convertible Instruments	Convertible Instruments The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with professional standards for “Accounting for Derivative Instruments and Hedging Activities”. Professional standards generally provide three criteria that, if met, require companies to bifurcate conversion options from their host instruments and account for them as free standing derivative financial instruments. These three criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instruments are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable generally accepted accounting principles with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. Professional standards also provide an exception to this rule when the host instrument is deemed to be conventional as defined under professional standards as “The Meaning of “Conventional Convertible Debt Instrument”. The Company accounts for convertible instruments (when it has determined that the embedded conversion options should not be bifurcated from their host instruments) in accordance with professional standards when “Accounting for Convertible Securities with Beneficial Conversion Features,” as those professional standards pertain to “Certain Convertible Instruments.” Accordingly, the Company records, when necessary, discounts to convertible notes for the intrinsic value of conversion options embedded in debt instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. Debt discounts under these arrangements are amortized over the term of the related debt to their earliest date of redemption. The Company also records when necessary deemed dividends for the intrinsic value of conversion options embedded in preferred shares based upon the differences between the fair value of the underlying common stock at the commitment date of the note transaction and the effective conversion price embedded in the note. ASC 815-40 provides that, among other things, generally, if an event is not within the entity’s control could or require net cash settlement, then the contract shall be classified as an asset or a liability.

NOTE 4_ SIGNIFICANT ACCOUNTI_12

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Income Taxes (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Income Taxes	Income Taxes The Company follows Section 740-10, Income tax (“ASC 740-10”) Fair Value Measurements and Disclosures of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. 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 the Statements of Operations in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that the Company believes that these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including reversals of any existing taxable temporary differences, projected future taxable income, tax planning strategies, and the results of recent operations. If the Company determines that it would be able to realize a deferred tax asset in the future in excess of any recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company adopted section 740-10-25 of the FASB Accounting Standards Codification (“Section 740-10-25”). Section 740-10-25 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.

NOTE 4_ SIGNIFICANT ACCOUNTI_13

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Concentrations of Credit Risk (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments with credit quality institutions. At times, such amounts may be in excess of the FDIC insurance limit. The Company does not have allowance for doubtful accounts at September 30, 2019 and December 31, 2018. The Company had $38,747 accounts receivable at September 30, 2019 and -0- at December 31, 2018.

NOTE 4_ SIGNIFICANT ACCOUNTI_14

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Net Loss per Common Share (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Net Loss per Common Share	Net Loss per Common Share Net loss per common share is computed pursuant to section 260-10-45 Earnings Per Share (“ASC 260-10”) of the FASB Accounting Standards Codification. Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding and the member potentially outstanding during each period. In periods when a net loss is experienced, only basic net loss per share is calculated because to do otherwise would be anti-dilutive. There were 16,171,588 common share equivalents at September 30, 2019 and 15,843,037 common shares at December 31, 2018. For the nine months ended September 30, 2019 and 2018 these potential shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would reduce net loss per share.

NOTE 4_ SIGNIFICANT ACCOUNTI_15

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Stock Based Compensation (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Stock Based Compensation	Stock Based Compensation All stock-based payments to employees and to nonemployee directors for their services as directors, including any grants of restricted stock and stock options, are measured at fair value on the grant date and recognized in the statements of operations as compensation or other expense over the relevant service period. Stock-based payments to nonemployees are recognized as an expense over the period of performance. Such payments are measured at fair value at the earlier of the date a performance commitment is reached, or the date performance is completed. In addition, for awards that vest immediately and are non-forfeitable the measurement date is the date the award is issued.

NOTE 4_ SIGNIFICANT ACCOUNTI_16

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Cost of Sales (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Cost of Sales	Cost of Sales Cost of sales includes the purchase cost of products sold and all costs associated with getting the products to the customers including buying and transportation costs.

NOTE 4_ SIGNIFICANT ACCOUNTI_17

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Research and Development	Research and Development The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and development costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $426,665 and $350,588 for the three months ended September 30, 2019 and 2018 respectively. The Company incurred research and development expenses of $1,950,981 and $1,701,986 for the nine months ended September 30, 2019 and 2018 respectively.

NOTE 4_ SIGNIFICANT ACCOUNTI_18

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Shipping Costs (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Shipping Costs	Shipping Costs Shipping and handling costs billed to customers are recorded in sales. Shipping costs incurred by the company are recorded in general and administrative expenses.

NOTE 4_ SIGNIFICANT ACCOUNTI_19

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2019
Policies
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2019, the FASB issued ASU 2019-01, Leases (Topic 842) Codification Improvements The Company has no long-term operating leases and thus the adoption of ASC 842 had no impact on the condensed consolidated financial statements. In November 2018, the FASB issued ASU 2018-18 , Collaborative Arrangements (Topic 818): Clarifying the Interaction Between Topic 808 and Topic 606 In October 2018, the FASB issued ASU 2018-17, Targeted Improvements to Related Party Guidance for Variable Interest Entities In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In July 2018, the FASB issued ASU 2018-09, “Codification Improvements.” This ASU makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the Accounting Standards Codification. The majority of the amendments in ASU 2018-09 will be effective for the Company for fiscal years beginning after December 15, 2018. The Company expects to adopt ASU 2018-09 in the first quarter of 2019. The Company is evaluating the impact of the standard and does not expect the guidance to have a material effect on its financial statements. In June 2018, the FASB issued ASU 2018-07, “Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting” In September 2017, the FASB issued ASU 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842). The effective date for ASU 2017-13 is for fiscal years beginning after December 15, 2018. In July 2017, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480) and Derivatives and Hedging (Topic 815): Part 1 – Accounting for Certain Financial Instruments with Down Round Features and Part 2 – Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with Scope Exception (“ASU No. 2017-11”). Part 1 of ASU No. 2017-11 addresses the complexity of accounting for certain financial instruments with down round features. Down round features are provisions in certain equity-linked instruments (or embedded features) that result in the strike price being reduced on the basis of the pricing of future equity offerings. Current accounting guidance creates cost and complexity for entities that issue financial instruments (such as warrants and convertible instruments) with down round features that require fair value measurement of the entire instrument or conversion option. Part II of ASU No. 2017-11 addresses the difficulty of navigating Topic 480, Distinguishing Liabilities from Equity, because of the existence of extensive pending content in the FASB Accounting Standards Codification®. This pending content is the result of the indefinite deferral of accounting requirements about mandatorily redeemable financial instruments of certain nonpublic entities and certain mandatorily redeemable noncontrolling interests. For public business entities, the amendments in Part I of this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The amendments in Part II of this update do not require any transition guidance because those amendments do not have an accounting effect. The Company is currently evaluating the impact of the adoption of this standard on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) The amendments also clarify that the guidance in Topic 275, Risks and Uncertainties, is applicable to entities that have not commenced planned principal operations. Other recent accounting pronouncements issued by the FASB and the SEC did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

NOTE 4_ SIGNIFICANT ACCOUNTI_20

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Fair Value Measurements: Schedule of Fair Value Hierarchy for Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Fair Value Hierarchy for Financial Instruments	As of September 30, 2019 Quoted Market Prices in Active Markets (Level 1) Internal Models with Significant Observable Market Parameters (Level 2) Internal Models with Significant Unobservable Market Parameters (Level 3) Total Fair Value Reported in Financial Statements Marketable Securities $404,518 $- $- $404,518 As of December 31, 2018 Quoted Market Prices in Active Markets (Level 1) Internal Models with Significant Observable Market Parameters (Level 2) Internal Models with Significant Unobservable Market Parameters (Level 3) Total Fair Value Reported in Financial Statements Marketable Securities $150,000 $- $- $150,000

NOTE 5_ PREPAID EXPENSES_ Sched

NOTE 5: PREPAID EXPENSES: Schedule of Prepaid Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Prepaid Expenses	September 30, 2019 December 31, 2018 Prepaid insurance $ 79,423 $ 52,105 Prepaid raw material/inventory 44,622 - $ 124,045 $ 52,105

NOTE 8_ PROMISSORY NOTE - REL_2

NOTE 8: PROMISSORY NOTE - RELATED PARTY: Schedule of Promissory Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Promissory Notes Payable	September 30, 2019 December 31, 2018 Promissory note payable, due on demand, interest at 3% p.a. $ 880,000 $ 880,000 Accrued Interest 160,272 140,526 $ 1,040,272 $ 1,020,526

NOTE 11_ CONVERTIBLE NOTES PA_2

NOTE 11: CONVERTIBLE NOTES PAYABLE: Schedule of Convertible Notes Payable, Shareholder (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Convertible Notes Payable, Shareholder	September 30, 2019 December 31, 2018 Convertible note payable, due on July 1, 2028, interest at 3.5% p.a. $ 45,000 $ 45,000 Accrued interest 5,176 3,981 $ 50,176 $ 48,981

NOTE 11_ CONVERTIBLE NOTES PA_3

NOTE 11: CONVERTIBLE NOTES PAYABLE: Schedule of Convertible Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Convertible Notes Payable	September 30, 2019 December 31, 2018 Convertible note payable, due on October 1, 2029, interest at 3.5% p.a. $ 484,478 $ 484,478 Convertible note payable, due on October 1, 2029, interest at 3.5% p.a. 1,000,000 1,000,000 Convertible note payable, due on November 1, 2021, interest at 3.5% p.a. 4,000,000 4,000,000 Accrued interest 213,263 128,752 Total 5,697,741 5,613,230 Less: unamortized debt discount/finance premium costs (758,809) (815,004) Convertible note payable, net 4,938,932 4,798,226 Less: current portion - - Long term portion $ 4,938,932 $ 4,798,226

NOTE 14_ STOCK OPTIONS_ Schedul

NOTE 14: STOCK OPTIONS: Schedule of options under Stock Option Plan (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of options under Stock Option Plan	Options Outstanding Options Exercisable Exercise Prices ($) Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price ($) Number Exercisable Weighted Average Exercise Price ($) $0.75 2,000,000 10 $0.75 2,000,000 $0.75

NOTE 14_ STOCK OPTIONS_ Sched_2

NOTE 14: STOCK OPTIONS: Schedule of Stock Option Activity (Tables)	9 Months Ended
	Sep. 30, 2019
Tables/Schedules
Schedule of Stock Option Activity	Options Outstanding Weighted Average Exercise Price Outstanding at December 31, 2018 - - Granted 2,000,000 $0.75 Exercised - - Expired or canceled - - Outstanding at September 30, 2019 2,000,000 $ 0.75

NOTE 1_ ORGANIZATION (Details)

NOTE 1: ORGANIZATION (Details)	9 Months Ended
	Sep. 30, 2019
Details
Entity Incorporation, State or Country Code	NV
Entity Incorporation, Date of Incorporation	Nov. 18, 2010
Entity Information, Former Legal or Registered Name	Axim International Inc.
Entity Information, Date to Change Former Legal or Registered Name	Jul. 24, 2014

NOTE 3_ GOING CONCERN (Details)

NOTE 3: GOING CONCERN (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Details
Working Capital	$ (1,242,767)
Accumulated deficit	(34,003,930)		$ (28,992,485)
Net cash used in operating activities	$ (3,629,911)	$ (3,803,241)

NOTE 4_ SIGNIFICANT ACCOUNTI_21

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Inventory (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Details
Finished goods inventory	$ 189,972	$ 4,922
Raw materials inventory	$ 275,654	$ 4,875

NOTE 4_ SIGNIFICANT ACCOUNTI_22

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Property and equipment (Details) - USD ($)	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Details
Depreciation, Amortization and Accretion, Net	$ 839	$ 839

NOTE 4_ SIGNIFICANT ACCOUNTI_23

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Intangible Assets (Details)	9 Months Ended
	Sep. 30, 2019USD ($)
Details
Intangible Assets, Net (Excluding Goodwill)	$ 50,534
Impairment of Intangible Assets (Excluding Goodwill)	$ 664,898

NOTE 4_ SIGNIFICANT ACCOUNTI_24

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Revenue Recognition (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Details
Revenue, Continuing Operations	$ 403,012	$ 6,224	$ 513,161	$ 28,646

NOTE 4_ SIGNIFICANT ACCOUNTI_25

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Fair Value Measurements: Schedule of Fair Value Hierarchy for Financial Instruments (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Inputs, Level 1
Marketable Securities	$ 404,518	$ 150,000
Fair Value, Inputs, Level 2
Marketable Securities	0	0
Fair Value, Inputs, Level 3
Marketable Securities	0	0
Fair Value, Inputs, Level 1, 2 and 3
Marketable Securities	$ 404,518	$ 150,000

NOTE 4_ SIGNIFICANT ACCOUNTI_26

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Net Loss per Common Share (Details) - shares	Sep. 30, 2019	Dec. 31, 2018
Details
Common Share Equivalents	16,171,588	15,843,037

NOTE 4_ SIGNIFICANT ACCOUNTI_27

NOTE 4: SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Details
Research and development expenses	$ 426,665	$ 350,588	$ 1,950,981	$ 1,701,986

NOTE 5_ PREPAID EXPENSES_ Sch_2

NOTE 5: PREPAID EXPENSES: Schedule of Prepaid Expenses (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Prepaid expenses	$ 124,045	$ 52,105
Prepaid insurance
Prepaid expenses	79,423	52,105
Prepaid raw material/inventory
Prepaid expenses	$ 44,622	$ 0

NOTE 5_ PREPAID EXPENSES (Detai

NOTE 5: PREPAID EXPENSES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Details
Amortization of Prepaid Expenses	$ 28,481	$ 23,524	$ 79,299	$ 65,675

NOTE 6_ MARKETABLE SECURITIES (

NOTE 6: MARKETABLE SECURITIES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Details
Marketable Securities, Realized Gain (Loss)	$ 190,460	$ 0	$ 190,460	$ 0
Marketable Securities, Unrealized Gain (Loss)	135,320	$ 0	273,720	$ 0
Other receivables	$ 89,568		$ 89,568		$ 0

NOTE 7_ INVESTMENT IN THIRD P_2

NOTE 7: INVESTMENT IN THIRD PARTY (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Details
Investment in Joint Venture	$ 27,490	$ 0

NOTE 8_ PROMISSORY NOTE - REL_3

NOTE 8: PROMISSORY NOTE - RELATED PARTY: Schedule of Promissory Notes Payable (Details) - Promissory note - related party - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument, Description	Promissory note payable, due on demand, interest at 3% p.a.
Debt Instrument, Face Amount	$ 880,000	$ 880,000
Interest Payable, Current	160,272	140,526
Long-term Debt	$ 1,040,272	$ 1,020,526

NOTE 8_ PROMISSORY NOTE - REL_4

NOTE 8: PROMISSORY NOTE - RELATED PARTY (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Promissory note - related party
Interest Expense, Promissory Note	$ 6,654	$ 6,654	$ 19,746	$ 19,746

NOTE 9_ RELATED PARTY TRANSAC_2

NOTE 9: RELATED PARTY TRANSACTIONS (Details) - Related Party Transaction 1	9 Months Ended
	Sep. 30, 2019USD ($)
Related Party Transaction, Description of Transaction	Company has received working capital advances from CanChew Biotechnologies
Related Party Transaction, Amounts of Transaction	$ 1,649,832
Related Party Transaction, Date	Sep. 30, 2019

NOTE 10_ DUE TO FIRST INSURAN_2

NOTE 10: DUE TO FIRST INSURANCE FUNDING (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Details
Amortization of Prepaid Expenses	$ 28,481	$ 23,524	$ 79,299	$ 65,675

NOTE 11_ CONVERTIBLE NOTES PA_4

NOTE 11: CONVERTIBLE NOTES PAYABLE: Schedule of Convertible Notes Payable, Shareholder (Details) - Convertible notes payable due to shareholder - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument, Description	Convertible note payable, due on July 1, 2028, interest at 3.5% p.a.
Debt Instrument, Maturity Date	Jul. 1, 2028
Debt Instrument, Interest Rate, Stated Percentage	3.50%
Debt Instrument, Face Amount	$ 45,000	$ 45,000
Interest Payable, Current	5,176	3,981
Long-term Debt	$ 50,176	$ 48,981

NOTE 11_ CONVERTIBLE NOTES PA_5

NOTE 11: CONVERTIBLE NOTES PAYABLE: Schedule of Convertible Notes Payable (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Total	$ 5,697,741	$ 5,613,230
Less unamortized debt discount	(758,809)	(815,004)
Convertible note payable, net	4,938,932	4,798,226
Less current portion	0	0
Long term portion	$ 4,938,932	4,798,226
Convertible Note 1
Debt Instrument, Description	Convertible note payable, due on October 1, 2029, interest at 3.5% p.a.
Debt Instrument, Maturity Date	Oct. 1, 2029
Debt Instrument, Interest Rate, Stated Percentage	3.50%
Debt Instrument, Face Amount	$ 484,478	484,478
Convertible Note 2
Debt Instrument, Description	Convertible note payable, due on October 1, 2029, interest at 3.5% p.a.
Debt Instrument, Maturity Date	Oct. 1, 2029
Debt Instrument, Interest Rate, Stated Percentage	3.50%
Debt Instrument, Face Amount	$ 1,000,000	1,000,000
Convertible Note 3
Debt Instrument, Description	Convertible note payable, due on November 1, 2021, interest at 3.5% p.a.
Debt Instrument, Maturity Date	Nov. 1, 2021
Debt Instrument, Interest Rate, Stated Percentage	3.50%
Debt Instrument, Face Amount	$ 4,000,000	4,000,000
Convertible Notes
Accrued interest	$ 213,263	$ 128,752

NOTE 11_ CONVERTIBLE NOTES PA_6

NOTE 11: CONVERTIBLE NOTES PAYABLE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Details
Secured convertible notes	$ 4,058,333		$ 4,058,333
Secured convertible notes, accrued interest	58,333		58,333
Investment Income, Net, Amortization of Discount and Premium	$ (18,870)	$ (193,262)	$ (56,195)	$ (998,736)

NOTE 12_ STOCK INCENTIVE PLAN (

NOTE 12: STOCK INCENTIVE PLAN (Details)	Sep. 30, 2019shares
Details
Stock Incentive Plan, Shares Available for Issuance	9,806,000

NOTE 13_ STOCKHOLDERS' DEFICIT_

NOTE 13: STOCKHOLDERS' DEFICIT: Preferred Stock (Details) - Preferred Stock - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.0001	$ 0.0001

NOTE 13_ STOCKHOLDERS' DEFICI_2

NOTE 13: STOCKHOLDERS' DEFICIT: Series A Convertible Preferred Stock (Details)	Sep. 30, 2019shares
Details
Shares authorized, Series A Convertible Preferred Stock	1,000,000

NOTE 13_ STOCKHOLDERS' DEFICI_3

NOTE 13: STOCKHOLDERS' DEFICIT: Series B Convertible Preferred Stock (Details)	Aug. 18, 2016shares
Details
Shares issued, Series B Preferred Stock	500,000

NOTE 13_ STOCKHOLDERS' DEFICIT

NOTE 13: STOCKHOLDERS' DEFICIT (Details)	Aug. 18, 2016shares
Details
Shares issued, Series C Preferred Stock	500,000

NOTE 13_ STOCKHOLDERS' DEFICI_4

NOTE 13: STOCKHOLDERS' DEFICIT: Common Stock (Details) - $ / shares	3 Months Ended					9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Dec. 31, 2018
Common Stock, Shares Authorized	300,000,000					300,000,000
Common Stock, Par or Stated Value Per Share	$ 0.0001					$ 0.0001	$ 0.0001
Common Stock, Shares, Issued	62,785,419					62,785,419	59,582,890
Common Stock
Common stock issued per stock purchase agreement, shares	687,285		239,521	204,778
Stock Issued During Period, Shares, New Issues	6,055	19,668	0		2,179
Transaction 1
Sale of Stock, Transaction Date						Jul. 11, 2019
Sale of Stock, Description of Transaction						Company issued 239,521, and 687,285 restricted shares of its common stock to third party
Shares, Issued	687,285					687,285
Transaction 2
Stock Issued During Period, Shares, New Issues	6,055	19,668

NOTE 14_ STOCK OPTIONS_ Sched_3

NOTE 14: STOCK OPTIONS: Schedule of Stock Option Activity (Details) - Option activity	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	2,000,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0.75
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ / shares	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | shares	0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price | $ / shares	$ 0
Number Outstanding | shares	2,000,000
Weighted Average Exercise Price ($) | $ / shares	$ 0.75

NOTE 15_ COMMITMENT AND CONTI_2

NOTE 15: COMMITMENT AND CONTINGENCIES (Details)	9 Months Ended
	Sep. 30, 2019
Commitment 1
Other Commitments, Description	On September 1, 2016, the Company entered into an amended and restated employment agreement with Dr. George Anastassov, its Chief Executive Officer, Chief Financial Officer and Secretary
Commitment 2
Other Commitments, Description	On September 1, 2016, the Company entered into an amended and restated employment agreement with Mr. Lekhram Changoer, its Chief Technology Officer
Commitment 3
Other Commitments, Description	On April 24, 2017 the company entered into an employment agreement with Robert Malasek, its Chief Financial Officer and Secretary
Commitment 4
Other Commitments, Description	On May 7, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into a Supply Agreement with Noramco, Inc. for the long-term purchase of pharmaceutical grade dronabinol
Commitment 5
Other Commitments, Description	On August 21, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into an agreement with Revive Therapeutics Ltd. (“Revive”) to begin selling the Company’s flagship nutraceutical product
Commitment 6
Other Commitments, Description	On September 10, 2018, AXIM Biotechnologies, Inc. (the “Company”) entered into a Letter of Intent (“LOI”) with Impression Healthcare Limited (“Impression”), Australia’s largest home dental impression company, for exclusive distribution of all AXIM® Biotech products

NOTE 16_ SUBSEQUENT EVENTS (Det

NOTE 16: SUBSEQUENT EVENTS (Details) - Event 1	9 Months Ended
	Sep. 30, 2019
Subsequent Event, Date	Oct. 25, 2019
Subsequent Event, Description	Company has issued 250,000 shares of common stock registered on Form S-3 to Cross & Company