AXIM Biotechnologies (AXIM) 10-K/A 18 Apr 16 2015 FY Annual report (amended) Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Apr. 13, 2016	Jun. 30, 2015
Document and Entity Information:
Entity Registrant Name	AXIM BIOTECHNOLOGIES, INC.
Entity Trading Symbol	axim
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Entity Central Index Key	1,514,946
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		39,762,659
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Public Float			$ 37,000,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash	$ 134,170	$ 661,128
Inventory	200,784	0
Reservation fee deposit	65,170	0
Prepaid expenses	777,657	72,329
Loan receivable	5,000	5,000
Total current assets	1,182,781	738,457
Property & Equipment, net of accumulated depreciation of $1,119	15,661	0
Other Assets:
Acquired intangible asset - intellectual property licensing agreement	63,167	0
Total other assets	63,167	0
TOTAL ASSETS	1,261,609	738,457
Current liabilities:
Accounts payable and accrued liabilities	392,937	144,385
Due to shareholder	5,000	5,000
Convertible loan	50,000	50,000
Due to first insurance funding	22,964	54,020
Due to related party	1,085,910	65,775
Promissory note - related party	1,000,000	1,000,000
Total current liabilities	2,556,811	1,319,180
Long-term liabilities:
Convertible note payable	400,000	0
Total long-term liabilities	400,000	0
TOTAL LIABILITIES	2,956,811	1,319,180
STOCKHOLDERS' DEFICIT
Preferred stock, $0.0001 par value, 5,000,000 shares authorized;Series A Convertible Preferred stock, $0.0001 par value, 1,000,000 shares designated, 1,000,000 and 0 shares issued and outstanding; respectively.	100	0
Undesignated Preferred stock, $0.0001 par value, 4,000,000 shares authorized,1,000,000 shares issued and outstanding	100	100
Common stock, $0.0001 par value, 300,000,000 shares authorized 39,633,706 and 33,000,000 shares issued and outstanding, respectively;	3,963	3,300
Additional paid in capital	9,032,865	107,841
Common stock to be issued	52,500	0
Accumulated deficit	(10,784,730)	(691,964)
TOTAL STOCKHOLDERS' DEFICIT	(1,695,202)	(580,723)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 1,261,609	$ 738,457

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parentheticals - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Parentheticals
Property & Equipment, accumulated depreciation	$ 1,119	$ 1,119
Preferred Stock, Par or Stated Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Series A Convertible Preferred stock,Par or Stated Value	$ 0.0001	$ 0.0001
Series A Convertible Preferred stocK,shares Authorized	1,000,000	1,000,000
Designated Preferred Stock Shares Authorized	1,000,000	1,000,000
Designated Preferred Stock Shares Issued	0	0
Designated Preferred Stock Shares Outstanding	0	0
Undesignated Preferred stock, Par or Stated Value	$ 0.0001	$ 0.0001
Undesignated Preferred stock Shares Authorized	4,000,000	4,000,000
Undesignated Preferred stock,Shares Issued	1,000,000	1,000,000
Undesignated Preferred stock,Shares Outstanding	1,000,000	1,000,000
Common Stock, Par or Stated Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Shares Issued	39,633,706	33,000,000
Common Stock, Shares Outstanding	39,633,706	33,000,000

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Revenues {1}
Revenues	$ 49,139	$ 0
Cost of goods sold	50,387	0
Gross loss	(1,248)	0
Expenses:
Research and development expenses	571,455	0
Selling, General and administrative	9,475,723	505,729
Depreciation	1,119	0
Total operating expenses	10,048,297	505,729
Loss from operations	(10,049,545)	(505,729)
Other (Income) expenses:
Interest expense	43,221	32,522
Total other income and Expense	43,221	32,522
Loss from Continuing operation before provision of income tax	(10,092,766)	(538,251)
Provision for income tax	0	0
LOSS FROM CONTINUING OPERATION	(10,092,766)	(538,251)
LOSS FROM DISCONTINUED OPERATION	0	(44,696)
NET LOSS	$ (10,092,766)	$ (582,947)
Loss per common share from continuing operation- basic and diluted	$ (0.27)	$ (0.02)
Loss per common share from discontinued operation- basic and diluted	0	0
Loss per common share - basic and diluted	$ (0.27)	$ (0.02)
Weighted average common shares outstanding - basic and diluted	37,054,770	33,000,000

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Deficit - USD ($)	Common Stock Shares	Common Stock Amount	Preferred Stock Shares	Preferred Stock Amount	Series A Convertible Shares	Series A ConvertiblePreferred Stock Amount	Common Stock to Be Issued	Additional Paid In Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2013	33,000,000	3,300	1,000,000	100	0			11,700	(109,017)	(93,917)
Forgiveness of debt								$ 96,141		$ 96,141
Net Loss									$ (582,947)	$ (582,947)
Balance. at Dec. 31, 2014	33,000,000	3,300	1,000,000	100	0			107,841	(691,964)	(580,723)
Common stock issued for consulting services	162,000	16						122,384		122,400
Common stock issued for acquisition of intangible assets and inventory	5,826,706	582						982,680		983,262
Common stock issued for officer's compensation	625,000	63						550,062		550,125
Fair value of convertible note for consulting services over the value of note								$ 2,000,000		$ 2,000,000
Fair value of series "A" convertible preferred stock issued for consulting services					$ 1,000,000	$ 100		$ 5,249,900		$ 5,250,000
Common stock issued for cash	20,000	2						19,998		20,000
Common stock to be issued for officer's compensation							$ 52,500			$ 52,500
Net Loss									$ (10,092,766)	$ (10,092,766)
Balance at Dec. 31, 2015	39,633,706	3,963	1,000,000	100	1,000,000	100	52,500	9,032,865	(10,784,730)	(1,695,202)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (10,092,766)	$ (582,947)
Loss from discontinued operations	0	44,696
Loss from continuing operations	(10,092,766)	(538,251)
Adjustments to reconcile net loss to net cash used in operating activities:
Expenses incurred by related party on behalf of the Company, net	11,134	65,775
Impairment loss	652,265	0
Inventory written off	20,845	0
Depreciation expense	1,119	0
Amortization of prepaid services	1,663,562	0
Amortization of prepaid insurance	116,110	0
Stock based compensation	5,975,025	0
Change in operating assets and liabilities:
License fee receivable	0	(4,000)
Accounts payable and accrued expenses	248,552	145,786
Inventory	46,202	0
Reservation fee deposit	(65,170)	0
Prepaid insurance	(85,000)	(72,329)
Due to first insurance funding	(31,056)	54,020
NET CASH USED IN OPERATING ACTIVITIES OF CONTINUING OPERATION	(1,539,178)	(348,999)
NET CASH PROVIDED BY OPERATING ACTIVITIES OF DISCONTINUED OPERATION		10,000
NET CASH USED IN OPERATING ACTIVITIES	(1,539,178)	(338,999)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of equipment	(16,780)	0
NET CASH USED IN INVESTING ACTIVITIES OF CONTINUING OPERATION	(16,780)	0
NET CASH USED IN INVESTING ACTIVITIES OF DISCONTINUED OPERATION	0	0
NET CASH USED IN INVESTING ACTIVITIES	(16,780)	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Advance - Sanammad Foundation, Inc.	0	(5,000)
Issuance of Common Stock for Cash	20,000
Loan proceeds from shareholder	0	5,000
Proceeds from promissory note - related party	0	1,000,000
Proceeds from due to related party	1,009,000
NET CASH PROVIDED BY FINANCING ACTIVITIES OF CONTINUING OPERATION	1,029,000	1,000,000
NET CASH PROVIDED BY FINANCING ACTIVITIES OF DISCONTINUED OPERATION	0	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	1,029,000	1,000,000
NET CHANGE IN CASH	(526,958)	661,001
CASH BALANCES
Beginning of period	661,128	127
End of period	134,170	661,128
CASH PAID DURING THE PERIOD FOR:
Interest	2,217	0
Income taxes-net of tax refund	406	0
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING AND INVESTING TRANSACTIONS:
Excess fair value of convertible note issued for prepaid services	$ 2,000,000	$ 0
Convertible Series A Preferred stock issued for consulting services	5,250,000	0
Convertible Note issued for prepaid services	$ 400,000	$ 0
Acquisition of Intellactual property/inventory through subsidiary acquisition	983,262	0
Gain on settlement of debt transferred to additional paid in capital	0	96,141
Prepaid insurance paid by related party	$ 0	$ 65,775

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2015
ORGANIZATION
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 18 East 50th Street, 5th Floor, New York, NY 10022. 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 1, 2015 the Company acquired 100% interest in Can Chew License Company a Nevada incorporated licensing Company, through the exchange of its 5,826,706 shares of common stock. In early 2014, the Company discontinued its organic waste marketable by-product business to focus on its anticipated new business to become an innovative biotechnology company working on the treatment of pain, spasticity, anxiety and other medical disorders with the application of cannabinoids based products as well as focusing on research, development and production of pharmaceutical, nutriceutical and cosmetic products as well as procurement of genetically and nano-controlled active ingredients.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2015
BASIS OF PRESENTATION:
BASIS OF PRESENTATION	NOTE 2: BASIS OF PRESENTATION: The audited consolidated financial statements of AXIM Biotechnologies, Inc. (formerly Axim International, Inc.) On June 9, 2014, the board of directors of the Company adopted a resolution approving a certificate of amendment to the Company's Articles of Incorporation to: (i) change the name of the Company to "AXIM Biotechnologies, Inc.;" and (ii) increase in the number of authorized shares of common stock of the Company from one hundred ninety five million (195,000,000) shares of common stock, par value $0.0001 per share, to three hundred million (300,000,000) shares of common stock, par value $0.0001 per share.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2015
SIGNIFICANT ACCOUNTING POLICIES:
SIGNIFICANT ACCOUNTING POLICIES	NOTE 3: SIGNIFICANT ACCOUNTING POLICIES Use of estimates The preparation of 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. 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. Inventory Inventory consists of finished goods available for sale owned by the Company and is stated at the lower of cost or market. During the year ended December 31, 2015, the Company written off inventory worth $20,845. As of December 31, 2015 the inventory totaled $200,784 and the shelf life of the inventory is set to expire on February 6, 2017. 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 year ended December 31, 2015 the Company recorded $1,119 of depreciation expense. 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. During the year ended December 31, 2015 the Company incurred an impairment loss of $652,265. Intangible assets as of December 31, 2015 amounted to $63,167 net of accumulated impairment losses of $652,265. Revenue Recognition The Company recognizes revenue on four basic criteria that must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the fee charged for services rendered and products delivered and the collectability of those fees. Revenue is generally recognized upon shipment. Revenues from continuing operations recognized for the year December 31, 2015 and 2014 amounted to $49,139 and $0, respectively. Revenues recognized from discontinued operations for the year ended December 31, 2015 and 2014 amounted to $0 and $10,000, respectively. Principles of consolidation The consolidated financial statements include the accounts of Axim Biotechnologies, Inc. and its wholly owned subsidiaries Axim Holdings, Inc. and Can Chew License Company as of December 31, 2015 and 2014. All significant intercompany transactions and balances have been eliminated in consolidation. Fair value of financial instruments The Company follows paragraph 825-10-50-10 Fair Value Measurements and Disclosures of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification ("Paragraph 820-10-35-37") to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value, and expands disclosures about fair value measurements. 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 accounts receivable and allowance for doubtful accounts at December 31, 2015 and 2014. 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. 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 $571,455 and $0 for the years ended December 31, 2015 and 2014. 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 January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company is currently evaluating the impact of adopting this guidance. In November 2015, the FASB issued (ASU) 2015-17, Balance Sheet Classification of Deferred Taxes. Currently deferred taxes for each tax jurisdiction are presented as a net current asset or liability and net noncurrent asset or liability on the balance sheet. To simplify the presentation, the new guidance requires that deferred tax liabilities and assets for all jurisdictions along with any related valuation allowances be classified as noncurrent in a classified statement of financial position. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016, and early adoption is permitted. The Company has adopted this guidance in the fourth quarter of the year ended December 31, 2015 on a retrospective basis. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows, and did not have any effect on prior periods due to the full valuation allowance against the Company's net deferred tax assets. In July 2015, the FASB issued ASU No. 2015-11, "Simplifying the Measurement of Inventory (Topic 330)." ASU 2015-11 simplifies the accounting for the valuation of all inventory not accounted for using the last-in, first-out ("LIFO") method by prescribing that inventory be valued at the lower of cost and net realizable value. ASU 2015-11 is effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016 on a prospective basis. We do not expect the adoption of ASU 2015-11 to have a material effect on our financial position, results of operations or cash flows. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The amendments are to be applied on a retrospective basis, wherein the balance sheet of each individual period presented is adjusted to reflect the period-specific effects of applying the new guidance. We do not expect the adoption of ASU 2015-03 to have a material effect on our financial position, results of operations or cash flows. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which is intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). The ASU focuses on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In addition to reducing the number of consolidation models from four to two, the new standard simplifies the FASB Accounting Standards Codification and improves current U.S. GAAP by placing more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity ("VIE"), and changing consolidation conclusions for companies in several industries that typically make use of limited partnerships or VIEs. The ASU will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We do not expect the adoption of ASU 2015-02 to have a material effect on our financial position, results of operations or cash flows. In November 2014, the FASB issued ASU No. 2014-17, "Business Combinations (Topic 805): Pushdown Accounting." This ASU provides an acquired entity with an option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. An acquired entity may elect the option to apply pushdown accounting in the reporting period in which the change-in-control event occurs. If pushdown accounting is applied to an individual change-in-control event, that election is irrevocable. ASU 2014-17 was effective on November 18, 2014. The adoption of ASU 2014-17 did not have any effect on our financial position, results of operations or cash flows. In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40)". ASU 2014-15 provides guidance related to management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosure. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and for interim and annual periods thereafter. Early application is permitted. We do not expect the adoption of ASU 2014-15 to have a material effect on our financial position, results of operations or cash flows. Management's evaluations regarding the events and conditions that raise substantial doubt regarding the Company's ability to continue as a going concern have been disclosed in Note 9. In June 2014, the FASB issued ASU No. 2014-12, "Compensation " Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." This ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. ASU 2014-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. We do not expect the adoption of ASU 2014-12 to have a material effect on our financial position, results of operations or cash flows. 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.

PREPAID EXPENSES

PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2015
PREPAID EXPENSES
PREPAID EXPENSES	NOTE 4: PREPAID EXPENSES Prepaid expenses consist of the following as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Prepaid service contract $ 736,438 $ - Prepaid insurance contract 41,219 72,329 $ 777,657 $ 72,329

RESERVATION FEE DEPOSIT

RESERVATION FEE DEPOSIT	12 Months Ended
	Dec. 31, 2015
RESERVATION FEE DEPOSIT
RESERVATION FEE DEPOSIT	NOTE 5: RESERVATION FEE DEPOSIT The Company entered into a reservation agreement with the Municipality of Almere in the Netherlands. In October 2015 the Company paid the reservation fee in the amount of $65,170.The reservation fee deposit gives the company an exclusive right to purchase the building land. Starting in October 2015 the second reservation period was extended for a period of twelve (12) months expiring September 2016. If the company proceeds to purchase the building land the reservation fee will be offset against the purchase price. The Company is not entitled to a refund of the reservation fee if the current agreement in terminated by the Company in the event of insolvency or a moratorium on the transfer or assignment of rights or in the event of a failure to notify or notify on time. The agreement is not transferable. The rights and obligations of this agreement cannot be assigned. The municipality is entitled to terminate the agreement by means of a registered letter if during the reservation period compelling objections exist or arise, or through the insolvency of the Company.

PROMISSORY NOTE - RELATED PARTY

PROMISSORY NOTE - RELATED PARTY	12 Months Ended
	Dec. 31, 2015
PROMISSORY NOTE - RELATED PARTY
PROMISSORY NOTE - RELATED PARTY	NOTE 6: 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 90% of the outstanding shares of the Company), under which it borrowed $1,000,000 to fund working capital. The loan is a demand note which bears interest at a rate of 7% annually. The Promissory Note Agreement was amended effective January 1, 2015. The amended Promissory Note bears an annual interest rate of 3%. All other terms and conditions shall remain in full force and effect. The following table summarizes promissory note payable as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Promissory note payable, due on demand, interest at 3% and 7%, respectively. $ 1,000,000 $ 1,000,000 Accrued interest $ 57,726 28,053 $ $1,057,726 $ 1,028,053 For the years ended December 31, 2015 and 2014 the Company recognized interest expense of $29,673 and $28,053, respectively, included in Accounts payable and accrued liabilities.

STOCKHOLDERS' DEFICIT

STOCKHOLDERS' DEFICIT	12 Months Ended
	Dec. 31, 2015
STOCKHOLDERS' DEFICIT {1}
STOCKHOLDERS' DEFICIT	NOTE 7: 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 which 1,000,000 shares were designated as Series A Convertible Preferred Stock. Undesignated Preferred stock As of December 31, 2015 and 2014, the Company had 1,000,000 shares of undesignated preferred stock issued and outstanding. Series A Convertible Preferred stock Each share of Series A Convertible Preferred Stock is convertible into 5 shares of Company's common stock. As of December 31, 2015 and 2014, the Company had 1,000,000 and 0; respectively, shares of Series A convertible preferred stock issued and outstanding. Liquidation Preference: 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 stockholders 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 preferred stock 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 an 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. Voting Rights: Those holders of the company's preferred shares shall have one hundred (100) votes per share of preferred stock held. On March 26, 2015 the Board of Directors approved the issuance of 1,000,000 shares of series A convertible preferred stock. to Sanammad Foundation USA a related party of the company. On May 15, 2015 Sanammad Foundation USA transferred the 1,000,000 shares of series A convertible preferred stock to Treo Holdings, LLC a related party of the company. Treo Holdings, LLC provided the company with consultancy services including corporate planning and restructuring of the organization. Each share of series A convertible preferred stock can be converted at the option of the holder and subject to notice requirements at any time, into five shares of the company's common stock. The Company calculated fair value of the convertible series A convertible preferred stock at $5,250,000 and recorded as compensation expense. Common stock The Company has authorized 300,000,000 shares of common stock, with a par value of $0.0001 per share. As of December 31, 2015 and 2014, the Company had 39,633,706 and 33,000,000 shares of common stock issued and outstanding, respectively. On January 15, 2015, the Company issued 18,000 shares of common stock as compensation for services performed for the Company by certain directors of the Company. The fair value of the underlying stock on the date of issuance was at $2.00 per share. The Company determined the fair value of the common stock was more readily determinable than the fair value of the services rendered. For the year ended December 31, 2015, the Company recorded $36,000 of compensation expense in the accompanying consolidated financial statements. On June 13, 2014, the Company entered into an employment agreement with Dr. George Anastassov, its Chief Executive Officer, Chief Financial Officer and Secretary. On June 13, 2015, following twelve (12) months of continuous employment the Company issued 500,000 restricted shares of the Company's common stock based upon the average ten (10) day closing price immediately preceding the grant date, as quoted on Yahoo.com. For the year ended December 31, 2015, the Company recorded $473,000 of compensation expense in the accompanying consolidated financial statements. On September 13, 2015 following fifteen (15) months of continuous employment, and every three months thereafter, the Company was obligated to issue 125,000 restricted shares of the Company's common stock based upon the average ten (10) day closing price immediately preceding the grant date, as quoted on Yahoo.com. On October 28, 2015 the board of directors approved the issuance of the stock grant. As of December 31, 2015 the company recorded $77,125 of compensation expense in the accompanying consolidated statement of operations. On December 13, 2015 the Company was obligated to issue 125,000 restricted shares of the Company's common stock based upon the average ten (10) day closing price immediately preceding the grant date, as quoted on Yahoo.com. As of December 31, 2015 the Company accrued $52,500 of compensation expense in the accompanying consolidated financial statements, the shares were issued subsequently. On May 1, 2015 the Canchew License Company entered into a licensing agreement with CanChew Biotechnologies, LLC ("Canchew"). The agreement provides that in exchange for its' intellectual property and inventory, Canchew will receive 5,826,706 restricted shares of the Company common stock and sliding scale royalties based on gross receipts. Management has determined the cost of the licensing agreement of $715,432 and inventory of $267,830 on the basis of lower of cost incurred or market value. For the year ended December 31, 2015 the Company recorded an impairment loss of $652,265. On July 14, 2015 the Board of Directors of the Company approved the issuance of 20,000 restricted common stock pursuant to the Common Stock Purchase Agreement "Agreement" which is selling, on a best efforts basis, up to $3,000,000 worth of the Company common stock, $0.0001 par value at a purchase price of $1.00 per share. The purchase price of the underlying stock on the date of issuance was $1.00 per share. During the year ended December 31, 2015 the Company received $20,000 from the investor in exchange for 20,000 restricted common shares of the Company. On December 29, 2015 the Board of Directors of the Company approved the issuance of 144,000 unrestricted shares of common stock as compensation for services performed for the Company by certain consultants of the Company. The fair value of the underlying stock on the date of issuance was at $0.60 per share. The Company determined the fair value of the common stock was more readily determinable than the fair value of the services rendered. For the year ended December 31, 2015, the Company recorded $86,400 of compensation expense in the accompanying consolidated financial statements.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2015
RELATED PARTY TRANSACTIONS:
RELATED PARTY TRANSACTIONS	NOTE 8: RELATED PARTY TRANSACTIONS Effective November 26, 2012, the Company entered into a separate Convertible Loan Agreement with its ex-President, under which it borrowed $50,000, in the form of a non-interest bearing note. The Company used the proceeds of this loan to fund the purchase of license rights under the November 26, 2012, agreement with Omega Research Corporation. The note was transferred to an outside party Cross & Company, Inc. in 2015. The loan is convertible into common stock at $0.10 per share at the option of the lender any time after February 28, 2013. As of December 31, 2015 the loan has not been converted. On May 21, 2014, the Company President advanced an additional $5,000 to the Company to fund working capital needs. This brings the total amount due to shareholder to $55,000 as of December 31, 2015, including convertible loan. 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 90% of the outstanding shares of the Company), under which it borrowed $1,000,000 to fund working capital. The loan is a demand note which bears interest at a rate of 7% annually. The Promissory Note Agreement was amended effective January 1, 2015. The amended Promissory Note bears an annual interest rate of 3%. All other terms and conditions shall remain in full force and effect. For the year ended December 31, 2015 and 2014 the Company charged $29,673 and $28,053, respectively as interest expenses to operation (refer note 6). On June 25, 2014, the Company received a non interest bearing advance from CanChew Biotechnologies, LLC (CCB) of $30,000 to pay the down payment on its D & O liability insurance. In addition the Company during 2014 was advanced an additional $35,775 for operating expenses principally for the owner's salary. For the year ended December 31, 2015 the Company received additional advance of $1,020,135 for operation expenses. The advance is non-interest bearing and is due on demand. The total outstanding due to related party as of December 31, 2015 and 2014 is $1,085,910 and $65,775, respectively.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2015
GOING CONCERN:
GOING CONCERN	NOTE 9: GOING CONCERN The Company's consolidated financial statements have been presented assuming that the Company will continue as a going concern. As shown in the consolidated financial statements, the Company has negative working capital of $ 1,374,030, has an accumulated deficit of $10,784,730, has cash used in operating activities of continuing operations $1,539,178 and presently does not have the resources to accomplish its objectives during the next twelve months. These conditions raise substantial doubt about the ability of the Company to continue as a going concern. The consolidated The Company intends to raise 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.

DUE TO FIRST INSURANCE FUNDING

DUE TO FIRST INSURANCE FUNDING	12 Months Ended
	Dec. 31, 2015
DUE TO FIRST INSURANCE FUNDING
DUE TO FIRST INSURANCE FUNDING	NOTE 10: DUE TO FIRST INSURANCE FUNDING The Company financed the purchase of its D & O insurance with a note due to First Insurance Funding. The principal amount financed was $120,000. Interest is due on the unpaid balance at a rate of 6.189% per annum. The total amount of interest due under the terms of the note is $3,116. The term of the note is for nine months commencing August 25, 2014. Payments are due for nine installments in the amount of $13,680 each, which includes principal and interest, commencing August 25, 2014. The total outstanding due to First Insurance Funding as of December 31, 2015 and 2014 is $0 and $54,020, respectively. The Company financed the purchase of its D & O insurance renewal with a note due to First Insurance Funding. The principal amount financed was $85,000 during the year ended December 31, 2015. Interest is due on the unpaid balance at a rate of 5.25% per annum. The total amount of interest due under the terms of the note is $1,496. The term of the note is for nine months commencing July 25, 2015. Payments are due for nine installments in the amount of $7,722 each, which includes principal and interest, commencing July 25, 2015. The total outstanding due to First Insurance Funding as of December 31, 2015 and 2014 is $22,964 and $0, respectively, is included under prepaid expenses.

CONVERTIBLE NOTE PAYABLE

CONVERTIBLE NOTE PAYABLE	12 Months Ended
	Dec. 31, 2015
CONVERTIBLE NOTE PAYABLE
CONVERTIBLE NOTE PAYABLE	NOTE 11: CONVERTIBLE NOTE PAYABLE On April 21, 2015 the Company entered into a one year consultancy agreement with Cross & Company an independent contractor terminating on April 21, 2016. In exchange for these consultancy services the Company agreed to pay Cross & Company $400,000 payable by the issuance of a convertible note at a rate of 4% per annum at the conversion price of $0.10 per share. Interest shall accrue until the maturity date, April 21, 2025 at which time all principal and interest accrued shall be due and payable. The holder of the note has the right, at the holder's option, at any time prior to payment in full of the principal balance in whole or in part, into fully paid and nonassessable "S-8 shares" of the company's common stock pursuant to a Stock Incentive Plan (see note 12). As of December 31, 2015 the loan has not been converted. For the year ended December 31, 2015 the Company accrued interest in the amount of $11,197. The Company calculated fair value of the convertible note at $2,400,000 as prepaid expenses and the excess value of $2,000,000 over the value of note was credited to additional paid in capital. The prepaid expense was amortized over the period of twelve month of service. During the year ended December 31, 2015, the Company amortized $1,663,562. As of December 31, 2015, the total unamortized prepaid expense of $736,438 is included in prepaid expenses (note 4).

STOCK INCENTIVE PLAN

STOCK INCENTIVE PLAN	12 Months Ended
	Dec. 31, 2015
STOCK INCENTIVE PLAN:
STOCK INCENTIVE PLAN	NOTE 12: STOCK INCENTIVE PLAN Effective May 29, 2015 the company adopted a stock incentive plan under which eligible persons or vendors whom provide the company services may be afforded an opportunity to acquire an equity interest in the company in exchange for those services provided. The Company has reserved 10,000,000 shares of its common stock for issuance under this plan.

COMMITMENT AND CONTINGENCIES

COMMITMENT AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2015
COMMITMENT AND CONTINGENCIES
COMMITMENT AND CONTINGENCIES	NOTE 13: COMMITMENT AND CONTINGENCIES On June 13, 2014, the Company entered into an employment agreement with Dr. George Anastassov, its Chief Executive Officer, Chief Financial Officer and Secretary. The agreement's effective date is June 1, 2014. The initial term of the agreement is one year. The agreement renews each year until terminated by the Company or Dr. Anastassov. Cash remuneration is $20,000 per month payable bi-monthly. On November 15, 2014 the Company and Municipality of Almere, the province of Flevoland, The Netherlands entered into a "reservation agreement" whereas the Company is interested in the construction of a manufacturing facility for the production of a new pharmaceutical, nutraceutical and consumer products as well as a center for R&D, on the plots of building and land located at Lagekant, the Netherlands. The reservation agreement is for a term of one year and expires on November 15, 2015. The Company must notify the Municipality of Almere whether or not it wishes to be considered for the purchase of the building and land on or before the end of the reservation agreement. If the municipality has not received notification on time before the end of the reservation period whether it wishes to purchase the building and land and also does not receive notification during the three (3) working days following said date, the right to reservation of the Company lapses. The municipality is then fully at liberty to offer the building land to any other prospective purchasers. The Company is entitled to terminate this agreement in writing without this giving rise to any payment obligation. The Company incurred a reservation fee after February 15, 2015 in the amount of $65,170. The purchase price has been determined to be $985,680 Euros exclusive of VAT and transfer taxes. The land parcel is 6000 square meters. The Company made the reservation payment on October 14, 2015 in the amount of $32,480 and the remaining balance of $32,690 was paid on October 15, 2015 (Note 5).

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2015
INCOME TAXES:
INCOME TAXES	NOTE 14: INCOME TAXES The Company utilizes ASC 740 "Income Taxes", which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statement or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. For the year ended December 31, 2015, the Company had available for U.S federal income tax purposes net operating loss carryovers of approximately $3,600,000, which will expire on various dates in the next twenty (20) years. The net operating loss carryovers may be subject to limitations under Internal Revenue Code due to significant changes in the Company's ownership. The Company has provided a full valuation allowance against the full amount of the net operating loss benefit, since, in the opinion of management, based upon the earnings history of the Company it is more likely than not that the benefits will not be realized. The provision for income taxes differ from the amount of income tax determined by applying the applicable U.S statutory rate to losses before income tax expense for the period ended December 31, 2015 and 2014 as follows: 2015 2014 Statutory federal income tax rate (35.0%) (35.0%) Statutory state and local income tax rate (8.25%), net of federal benefit (5.4%) (5.4%) Change in valuation allowance (40.4%) (40.4%) Effective tax rate 0.00% (0.00%) Deferred income taxes result from temporary differences in the recognition of income and expenses for financial reporting purposes and for tax purposes. The tax effect of these temporary differences representing deferred tax asset result principally from the following: 2015 2014 Deferred tax assets : - Net operating loss carry forward $ 1,443,800 $ 278,100 Less: valuation allowance (1,443,800) (278,100) Net deferred tax asset $ - $ -

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Dec. 31, 2015
SUBSEQUENT EVENT
SUBSEQUENT EVENT	NOTE 15: SUBSEQUENT EVENT Effective January 1, 2016, the Company entered into a 12 month employment agreement, at a compensation rate of $126,000 annually, with Lekhram Changoer to serve as our Chief Technology Officer. Following 3 months of continuous employment, and every three months thereafter, Mr. Changoer will receive either; at the sole option of the Company, 120,000 restricted shares of Company common stock; or the financial equivalent in cash, based upon the average 10 day closing price as of the Company's common stock immediately preceding the grant date, as quoted on Yahoo Finance.com.

Accounting Policies (Policies)

Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies:
Use of Estimates, Policy	Use of estimates The preparation of 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.
Cash Equivalents, Policy	Cash equivalents
Inventory, Policy	Inventory Inventory consists of finished goods available for sale owned by the Company and is stated at the lower of cost or market. During the year ended December 31, 2015, the Company written off inventory worth $20,845. As of December 31, 2015 the inventory totaled $200,784 and the shelf life of the inventory is set to expire on February 6, 2017.
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 year ended December 31, 2015 the Company recorded $1,119 of depreciation expense.
Intangible Assets, Policy	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. During the year ended December 31, 2015 the Company incurred an impairment loss of $652,265. Intangible assets as of December 31, 2015 amounted to $63,167 net of accumulated impairment losses of $652,265.
Revenue Recognition, Policy	Revenue Recognition The Company recognizes revenue on four basic criteria that must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the fee is fixed or determinable; and (4) collectability is reasonably assured. Determination of criteria (3) and (4) are based on management's judgments regarding the fixed nature of the fee charged for services rendered and products delivered and the collectability of those fees. Revenue is generally recognized upon shipment. Revenues from continuing operations recognized for the year December 31, 2015 and 2014 amounted to $49,139 and $0, respectively. Revenues recognized from discontinued operations for the year ended December 31, 2015 and 2014 amounted to $0 and $10,000, respectively.
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. and Can Chew License Company as of December 31, 2015 and 2014. All significant intercompany transactions and balances have been eliminated in consolidation.
Fair Value of Financial Instruments, Policy	Fair value of financial instruments The Company follows paragraph 825-10-50-10 Fair Value Measurements and Disclosures of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification ("Paragraph 820-10-35-37") to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value, and expands disclosures about fair value measurements.
Income Taxes, Policy	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	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 accounts receivable and allowance for doubtful accounts at December 31, 2015 and 2014.
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.
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.
Cost of Sales, Policy	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	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 $571,455 and $0 for the years ended December 31, 2015 and 2014.
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.
Recently issued accounting standards	Recently issued accounting standards In January 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company is currently evaluating the impact of adopting this guidance. In November 2015, the FASB issued (ASU) 2015-17, Balance Sheet Classification of Deferred Taxes. Currently deferred taxes for each tax jurisdiction are presented as a net current asset or liability and net noncurrent asset or liability on the balance sheet. To simplify the presentation, the new guidance requires that deferred tax liabilities and assets for all jurisdictions along with any related valuation allowances be classified as noncurrent in a classified statement of financial position. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016, and early adoption is permitted. The Company has adopted this guidance in the fourth quarter of the year ended December 31, 2015 on a retrospective basis. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows, and did not have any effect on prior periods due to the full valuation allowance against the Company's net deferred tax assets. In July 2015, the FASB issued ASU No. 2015-11, "Simplifying the Measurement of Inventory (Topic 330)." ASU 2015-11 simplifies the accounting for the valuation of all inventory not accounted for using the last-in, first-out ("LIFO") method by prescribing that inventory be valued at the lower of cost and net realizable value. ASU 2015-11 is effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016 on a prospective basis. We do not expect the adoption of ASU 2015-11 to have a material effect on our financial position, results of operations or cash flows. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The amendments are to be applied on a retrospective basis, wherein the balance sheet of each individual period presented is adjusted to reflect the period-specific effects of applying the new guidance. We do not expect the adoption of ASU 2015-03 to have a material effect on our financial position, results of operations or cash flows. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis, which is intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures (collateralized debt obligations, collateralized loan obligations, and mortgage-backed security transactions). The ASU focuses on the consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. In addition to reducing the number of consolidation models from four to two, the new standard simplifies the FASB Accounting Standards Codification and improves current U.S. GAAP by placing more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a variable interest entity ("VIE"), and changing consolidation conclusions for companies in several industries that typically make use of limited partnerships or VIEs. The ASU will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We do not expect the adoption of ASU 2015-02 to have a material effect on our financial position, results of operations or cash flows. In November 2014, the FASB issued ASU No. 2014-17, "Business Combinations (Topic 805): Pushdown Accounting." This ASU provides an acquired entity with an option to apply pushdown accounting in its separate financial statements upon occurrence of an event in which an acquirer obtains control of the acquired entity. An acquired entity may elect the option to apply pushdown accounting in the reporting period in which the change-in-control event occurs. If pushdown accounting is applied to an individual change-in-control event, that election is irrevocable. ASU 2014-17 was effective on November 18, 2014. The adoption of ASU 2014-17 did not have any effect on our financial position, results of operations or cash flows. In August 2014, the FASB issued ASU No. 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40)". ASU 2014-15 provides guidance related to management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern and to provide related footnote disclosure. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and for interim and annual periods thereafter. Early application is permitted. We do not expect the adoption of ASU 2014-15 to have a material effect on our financial position, results of operations or cash flows. Management's evaluations regarding the events and conditions that raise substantial doubt regarding the Company's ability to continue as a going concern have been disclosed in Note 9. In June 2014, the FASB issued ASU No. 2014-12, "Compensation " Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period." This ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. ASU 2014-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. We do not expect the adoption of ASU 2014-12 to have a material effect on our financial position, results of operations or cash flows. 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.

PREPAID EXPENSES (TABLES)

PREPAID EXPENSES (TABLES)	12 Months Ended
	Dec. 31, 2015
PREPAID EXPENSES (TABLES):
PREPAID EXPENSES (TABLES)	Prepaid expenses consist of the following as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Prepaid service contract $ 736,438 $ - Prepaid insurance contract 41,219 72,329 $ 777,657 $ 72,329

Schedule of Summary of Promisso

Schedule of Summary of Promissory Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Summary of Promissory Notes Payable:
Schedule of Summary of Promissory Notes Payable	The following table summarizes promissory note payable as of December 31, 2015 and 2014: December 31, 2015 December 31, 2014 Promissory note payable, due on demand, interest at 3% and 7%, respectively. $ 1,000,000 $ 1,000,000 Accrued interest $ 57,726 28,053 $ $1,057,726 $ 1,028,053

INCOME TAXES (TABLES)

INCOME TAXES (TABLES)	12 Months Ended
	Dec. 31, 2015
INCOME TAXES (TABLES):
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes differ from the amount of income tax determined by applying the applicable U.S statutory rate to losses before income tax expense for the period ended December 31, 2015 and 2014 as follows: 2015 2014 Statutory federal income tax rate (35.0%) (35.0%) Statutory state and local income tax rate (8.25%), net of federal benefit (5.4%) (5.4%) Change in valuation allowance (40.4%) (40.4%) Effective tax rate 0.00% (0.00%)
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes result from temporary differences in the recognition of income and expenses for financial reporting purposes and for tax purposes. The tax effect of these temporary differences representing deferred tax asset result principally from the following: 2015 2014 Deferred tax assets : - Net operating loss carry forward $ 1,443,800 $ 278,100 Less: valuation allowance (1,443,800) (278,100) Net deferred tax asset $ - $ -

ORGANIZATION (Details)

ORGANIZATION (Details)	May. 01, 2015shares
ORGANIZATION Details
Acquired interest in Can Chew License Company	100.00%
Acquired interest in Can Chew License Company through the exchange of shares of common stock	5,826,706

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	Jun. 09, 2014$ / sharesshares
BASIS OF PRESENTATION Details
Number of authorized shares of common stock of the Company before the amendment	195,000,000
Number of authorized shares of common stock of the Company after the amendment	300,000,000
Par value of common stock per share | $ / shares	$ 0.0001

SIGNIFICANT ACCOUNTING POLICI28

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Depreciation Details
Depreciation expense	$ 1,119
Intangible Assets Details
Impairment loss	652,265
Intangible assets	63,167
Net of accumulated impairment losses	652,265
Revenue Recognition
Revenues from continuing operations recognized	49,139	$ 0
Revenues recognized from discontinued operations	0	10,000
Research and Development
The Company incurred research and development expenses	$ 571,455	$ 0

Prepaid expenses consist of the

Prepaid expenses consist of the following (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Prepaid expenses consist of the following
Prepaid service contract	$ 736,438
Prepaid insurance contract	41,219	$ 72,329
Total prepaid expense	777,657	72,329
Company recognized amortization expense	$ 1,779,672	$ 77,671

RELATED PARTY PROMISSORY NOTE (

RELATED PARTY PROMISSORY NOTE (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Aug. 08, 2014
Related party Promissory note
Promissory note payable, due on demand, interest at 3% and 7%, respectively	$ 1,000,000	$ 1,000,000
Accrued interest on note	57,726	28,053
Total amount of note payable	1,057,726	1,028,053
CCB own outstanding shares of the Company			90.00%
Working capital fund			$ 1,000,000
Interest rate annually			7.00%
Company recognized interest expense	$ 29,673	$ 28,053

PREFERRED STOCk (Details)

PREFERRED STOCk (Details)	Dec. 31, 2015$ / sharesshares	May. 15, 2015USD ($)shares	Mar. 26, 2015shares	Dec. 31, 2014$ / sharesshares
Preferred stock
Total authorized shares of preferred stock	5,000,000			5,000,000
Per share value of Preferred stock | $ / shares	$ 0.0001			$ 0.0001
Shares designated as Series A Convertible Preferred Stock.	1,000,000			1,000,000
Undesignated shares of Preferred Stock.	1,000,000			1,000,000
Shares of Series A convertible preferred stock issued and outstanding	1,000,000			0
Conversion rights of every share of Series A Convertible preferred stock in to common shares	5
Liquidation Preference of every share of Series A Convertible preferred stock | $ / shares	$ 1
Votes per share of preferred stock held.	100
Board of Directors approved the issuance of shares of series A convertible preferred stock. to Sanammad Foundation USA			1,000,000
Sanammad Foundation USA transferred the shares of series A convertible preferred stock to Treo Holdings, LLC		1,000,000
Fair value of the convertible series A convertible preferred stock | $		$ 5,250,000

COMMON STOCK (Details)

COMMON STOCK (Details) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Common stock
Company has authorized shares of common stock	300,000,000	300,000,000
Company had shares of common stock issued and outstanding	39,633,706	33,000,000
Per share value of common stock	$ 0.0001	$ 0.0001

Common stock - Services (Detail

Common stock - Services (Details) - USD ($)	Dec. 31, 2015	Jan. 15, 2015
Common stock - Services
Company issued shares of common stock as compensation for services performed		18,000
The fair value of the underlying stock on the date of issuance per share		$ 2
Company recorded compensation expense for services	$ 36,000

Common stock - Employment agree

Common stock - Employment agreement (Details) - USD ($)	Dec. 31, 2015	Sep. 13, 2015	Jun. 13, 2015
Common stock - Employment agreement
Company issued restricted shares of the Company's common stock based upon the average ten (10) day closing price immediately preceding the grant date	125,000	125,000	500,000
Company recorded compensation expense for employment services	$ 473,000
Company recorded compensation expense in the accompanying consolidated statement of operations	77,125
Company accrued compensation expense in the accompanying consolidated financial statements	$ 52,500

Common stock - Licensing agreem

Common stock - Licensing agreement (Details) - USD ($)	Dec. 31, 2015	May. 01, 2015
Common stock - Licensing agreement
Company entered into a licensing agreement and issued restricted shares of the Company common stock		5,826,706
Management has determined the cost of the licensing agreement		$ 715,432
Management has determined the cost of inventory		$ 267,830
Company recorded an impairment loss as per agreement	$ 652,265

Issue of restricted common stoc

Issue of restricted common stock (Details) - USD ($)	Dec. 31, 2015	Jul. 14, 2015
Issue of restricted common stock
Issue of restricted common stock pursuant to the Common Stock Purchase Agreement	20,000	20,000
Worth of the Company common stock sold as per agreement		$ 3,000,000
The purchase price of the underlying stock on the date of issuance		$ 1
Company received from the investor in exchange for restricted common shares of the Company	$ 20,000

Issue of unrestricted shares of

Issue of unrestricted shares of common stock (Details) - USD ($)	Dec. 31, 2015	Dec. 29, 2015
Issue of unrestricted shares of common stock
issue of unrestricted shares of common stock to certain consultants of the Company		144,000
The fair value of the underlying stock on the date of issuance		$ 0.60
Company recorded compensation expense	$ 86,400

RELATED PARTY AGREEMENTS (Detai

RELATED PARTY AGREEMENTS (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Aug. 08, 2014	Jun. 25, 2014	May. 21, 2014
Related party agreements
Company president advanced to fund working capital needs	$ 45,002				$ 5,000
Company entered into a separate Convertible Loan Agreement with its President and borrowed	$ 50,000
The loan is convertible into common stock at a price per share	$ 0.10
Total amount due to shareholder including convertible loan	$ 55,000
Company entered into a Promissory Note Agreement with CanChew Biotechnologies, LLC and borrowed to fund working capital			$ 1,000,000
Interest rate on note			7.00%
Interest expense charged by the company in the period	28,053
Company received a non interest bearing advance from CCB				$ 30,000
Advanced an additional operating expenses				$ 35,775
Total outstanding due to related party	$ 1,085,910	$ 65,775

Interest expenses (Details)

Interest expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Interest expenses Details
Company charged interest expenses to operation	$ 29,673	$ 28,053
Company received additional advance for operation expenses	$ 1,020,135	$ 35,775

GOING CONCERN (Details)

GOING CONCERN (Details)	Dec. 31, 2015USD ($)
GOING CONCERN DETAILS
Company has negative working capital	$ 1,374,030
Incurred accumulated deficit in the period	10,784,730
Cash used in operating activities of continuing operations	$ 1,539,178

FIRST INSURANCE FUNDING (Detail

FIRST INSURANCE FUNDING (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Aug. 25, 2014
First Insurance Funding
The principle amount financed			$ 120,000
Interest due on the unpaid balance at a rate per annum			6.19%
The total amount of interest due under the terms of the note			$ 3,116
Payments are due for nine installments in the amount and includes principle and interest			$ 13,680
The total outstanding due to First Insurance Funding	$ 0	$ 54,020

DUE TO FIRST INSURANCE FUNDING

DUE TO FIRST INSURANCE FUNDING (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
DUE TO FIRST INSURANCE FUNDING Details
The principle amount financed	$ 85,000
Interest due on the unpaid balance at a rate per annum	5.25%
The total amount of interest due under the terms of the note	$ 1,496
Payments are due for nine installments in the amount and includes principle and interest	7,722
The total outstanding due to First Insurance Funding	$ 22,964	$ 0

CONVERTIBLE NOTE PAYABLE (Detai

CONVERTIBLE NOTE PAYABLE (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
CONVERTIBLE NOTE PAYABLE DETAILS
Calculated fair value of the convertible note as prepaid expenses	$ 2,400,000	$ 2,400,000
Excess value over the value of note credited to additional paid in capital	2,000,000	2,000,000
Accrued interest	11,197
Amortization of prepaid expense	1,663,562	$ 1,065,205
Unamortization of prepaid expense	$ 736,438

NOTE PAYABLE (Details)

NOTE PAYABLE (Details)	Apr. 21, 2015USD ($)$ / shares
NOTE PAYABLE Details
Amount to be paid to Cross & Company for consultancy services | $	$ 400,000
Convertible note at a rate per annum	4.00%
Conversion price per share | $ / shares	$ 0.10

STOCK INCENTIVE PLAN (Details)

STOCK INCENTIVE PLAN (Details)	May. 29, 2015shares
STOCK INCENTIVE PLAN DETAILS
Reserved shares of common stock for issuance under plan	10,000,000

EMPLOYMENT AGREEMENT AND COMMIT

EMPLOYMENT AGREEMENT AND COMMITMENTS (Details) - USD ($)	Oct. 15, 2015	Oct. 14, 2015	Feb. 15, 2015	Jan. 15, 2015	Jun. 13, 2014
Employment agreement and commitments
Cash remuneration in the amount per month payable bi-monthly				$ 18,000	$ 20,000
Reservation fee in euros		$ 32,480	$ 65,170
Purchase price exclusive of VAT and transfer taxes in euros			$ 985,680
Reservation payment remaining balance was paid on	$ 32,690

Income tax expense (Details)

Income tax expense (Details)	Dec. 31, 2015	Dec. 31, 2014
income tax expense Details
Statutory federal income tax rate	(35.00%)	(35.00%)
Statutory state and local income tax rate (8.25%), net of federal benefit	(5.40%)	(5.40%)
Change in valuation allowance	(40.40%)	(40.40%)
Effective tax rate	0.00%	0.00%

Deferred income taxes (Details)

Deferred income taxes (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets :
Net operating loss carry forward	$ 1,443,800	$ 278,100
Less: valuation allowance	(1,443,800)	$ (278,100)
Net deferred tax asset	$ 0

Net Operating loss carryovers (

Net Operating loss carryovers (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Net Operating loss carryovers Details
Federal income tax net operating loss carryovers	$ 3,600,000

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details)	Jan. 01, 2016USD ($)shares
SUBSEQUENT EVENT Details
Company entered into employment agreement at a compensation rate | $	$ 126,000
Restricted shares of Company common stock | shares	120,000