Cantabio Pharmaceuticals (CTBO) 10-K 30 Jun 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2017	Sep. 30, 2016
Document and Entity Information
Entity Registrant Name	Cantabio Pharmaceuticals Inc.
Document Type	10-K
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Entity Central Index Key	1,550,518
Current Fiscal Year End Date	--03-31
Entity Common Stock, Shares Outstanding	26,805,270
Entity Public Float		$ 0
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	2,017
Document Fiscal Period Focus	FY
Trading Symbol	ctbo

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2017	Mar. 31, 2016
Current Assets
Cash	$ 32,275	$ 52,110
Prepaid expenses	1,248
Total Current Assets	33,523	52,110
TOTAL ASSETS	33,523	52,110
Current Liabilities
Accounts payable and accrued expenses	377,893	225,498
Accrued technology access fee	140,142	173,414
Convertible debentures	322,256
Due to officers		6,420
Notes payable related party	47,154	16,562
Total Current Liabilities	887,445	421,894
TOTAL LIABILITIES	887,445	421,894
STOCKHOLDERS' EQUITY (DEFICIT)
Common stock value	26,805	26,805
Stock subscriptions	1,060,000	500,000
Additional paid-in capital	167,324	99,324
Accumulated deficit	(2,108,051)	(995,913)
Total Stockholders' Equity (Deficit)	(853,922)	(369,784)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 33,523	$ 52,110

Balance Sheets (parenthetical)

Balance Sheets (parenthetical) - $ / shares	Mar. 31, 2017	Mar. 31, 2016
Balance Sheet
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	26,805,270	26,805,270
Common stock, shares outstanding	26,805,270	26,805,270

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement
Revenues
Operating Costs and Expenses
Research and development expense	350,310	149,159
General and administrative expenses	718,959	691,778
Total operating costs and expenses	1,069,269	840,937
Income (loss) from operations	(1,069,269)	(840,937)
Other Income and Expenses
Interest expense	39,869
Change in fair value of embedded derivative	3,000
Gain (loss) on extinguishment of debt		107,884
Gain (loss) on foreign exchange		(18,275)
Total other income and (expenses)	(42,869)	89,609
Net income (loss)	$ (1,112,138)	$ (751,328)
Basic and diluted earnings (loss) per share	$ (0.04)	$ (0.04)
Weighted average common shares outstanding - basic and diluted	26,805,270	18,216,544

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Shares	Common Stock Subscriptions	Additional Paid-in Capital	Accumulated Deficit	Total
Beginning Balance, shares at Mar. 31, 2015	14,824,324
Beginning Balance, amount at Mar. 31, 2015	$ 14,824			$ (233,280)	$ (218,456)
Cancellation of stock, shares	(444,730)
Cancellation of stock, value	$ (445)			445
Stock issued to acquire shell company, shares	11,750,000				11,750,000
Stock issued to acquire shell company, value	$ 11,750			(11,750)
Stock subscriptions		$ 600,000			$ 600,000
Stock issued, shares	675,676				675,676
Stock issued, value	$ 676	(100,000)	$ 99,324		$ 100,000
Net income (loss) for the period				(751,328)	(751,328)
Ending Balance, shares at Mar. 31, 2016	26,805,270
Ending Balance, amount at Mar. 31, 2016	$ 26,805	500,000	99,324	(995,913)	(369,784)
Stock subscriptions		560,000			560,000
Beneficial conversion feature - convertible debentures			68,000		68,000
Net income (loss) for the period				(1,112,138)	(1,112,138)
Ending Balance, shares at Mar. 31, 2017	26,805,270
Ending Balance, amount at Mar. 31, 2017	$ 26,805	$ 1,060,000	$ 167,324	$ (2,108,051)	$ (853,922)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (1,112,138)	$ (751,328)
Adjustments to reconcile net loss to net cash used by operating activities:
Gain (loss) on extinguishment of debt		107,884
Accretion to notes payable to related party	1,807
Amortization of debt discount	22,756
Change in fair value of embedded derivative	3,000
Changes in operating assets and liabilities:
(Increase) decrease in accounts payable and accrued expenses	152,395	225,285
(Increase) decrease in accrued technology fee	(33,272)	66,553
Increase (decrease) in prepaid expenses	(1,248)
(Increase) decrease in due to officers	(6,420)	2,714
Net cash provided by (used in) operating activities	(973,120)	(564,660)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from related party notes payable	59,368	33,755
Repayments of related party notes payable	30,583	17,194
Proceeds from issuance of convertible debentures	364,500
Proceeds from stock subscriptions	560,000	600,000
Net cash provided by financing activities	953,285	616,561
Net increase (decrease) in cash	(19,835)	51,901
Cash, beginning of period	52,110	209
Cash, end of period	32,275	52,110
Schedule of non-cash financing activities
Issuance of common stock to satisfy share subscription		$ 100,000
Beneficial conversion feature - convertible debentures	$ 68,000

Organization and Description of

Organization and Description of The Business	12 Months Ended
	Mar. 31, 2017
Notes
Organization and Description of The Business	NOTE 1 - ORGANIZATION AND DESCRIPTION OF THE BUSINESS Cantabio Pharmaceuticals Inc. (the “Company” or “Cantabio”) is a preclinical stage biotechnology company focusing on commercializing novel therapies and the intellectual property generated from research and development activities for Parkinson’s disease (PD) and Alzheimer’s disease (AD). The Company’s strategy involves integration of therapeutic focus, the targeting of family biophysics, drug discovery technology and expertise into an innovative drug discovery approach, which synergizes to identify and develop small molecule pharmacological chaperones for clinical trials. In addition, the Company’s research efforts concentrate on the development of therapeutic proteins that can pass through the blood-brain barrier and supplement in vivo levels of proteins with display loss of function during disease conditions.

Liquidity and Going Concern Dis

Liquidity and Going Concern Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Liquidity and Going Concern Disclosure	NOTE 2 - LIQUIDITY AND GOING CONCERN As of March 31, 2017, the Company had a working capital deficit of $853,922 million and losses from operations. The Company typically raises capital which it spends on maintaining its research and corporate operations. At this early stage in the life of the company funding is often short term in nature. While the Company has been proficient in raising funds in the past the short term nature of these funding cycles raises substantial doubt about the Company's ability to continue as a going concern within one year from the date of this filing. Management is addressing going concern risk by seeking new sources of capital and is continuing initiatives to raise capital through private placements, related party loans and other institutional sources to meet future working capital requirements. Furthermore, strategic partnerships, most likely with larger pharmaceutical industry companies, will be needed to continue to fund research and development costs as our projects expand. These measures, if successful, may contribute to reduce the risk of going concern uncertainties for the Company beyond the next twelve months. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital and achieve profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2017
Notes
Summary of Significant Accounting Policies	NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Principles of Consolidation These financial statements include the accounts of the Company and its wholly-owned subsidiary. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates. Income Taxes The Company recognizes income taxes on an accrual basis based on tax positions taken or expected to be taken in its tax returns. A tax position is defined as a position in a previously filed tax return or a position expected to be taken in a future tax filing that is reflected in measuring current or deferred income tax assets and liabilities. Tax positions are recognized only when it is more likely than not (i.e., likelihood of greater than 50%), based on technical merits, that the position would be sustained upon examination by taxing authorities. Tax positions that meet the more likely than not threshold are measured using a probability-weighted approach as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement. Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our financial statements or tax returns. A valuation allowance is established to reduce deferred tax assets if all, or some portion, of such assets will more than likely not be realized. Should they occur, our policy is to classify interest and penalties related to tax positions as income tax expense. Fair Value of Financial Instruments The Company's financial instruments consist of cash, accounts payable, convertible debentures and a loan payable to a related party. The carrying amounts of these financial instruments approximate fair value due either to length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements. Share Subscriptions Under the terms of a subscription agreement the Company has received funds in advance of the issuance of stock. The stock is issuable to the investors once the full subscription proceeds are received, which, as of the date of this filing, has not yet occurred. The Company recorded the advance in equity. Earnings (Loss) per Share The Company calculates earnings per share using basic net income (loss) per common share be computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. The Company does not compute diluted earnings per share because to do so would be anti-dilutive. Dilutive securities that were not considered in the computation for diluted net loss per share includes the convertible debentures that convert into 3,420,000 common shares, and 530,000 common shares which have not yet been issued under the stock subscriptions as described in Note 7. Recent Accounting Standards Fiscal 2017 Accounting Pronouncement Adoptions In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In March 2016, the FASB issued ASU No. 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments Fiscal 2018 Accounting Pronouncement Adoptions In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 increases the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Certain qualitative and quantitative disclosures are required, as well as a retrospective recognition and measurement of impacted leases. The new ASU is effective for fiscal years and interim periods within those years beginning after March 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of this new standard and does not expect it to have a material impact on our financial statements.

Material Agreements Disclosure

Material Agreements Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Material Agreements Disclosure	NOTE 4 - MATERIAL AGREEMENTS We maintain various agreements that that are important to our research and development activities. Material agreements are laid out below. NovAliX Collaboration Agreement - DJ-1 On November 12, 2015, Gardedam entered into an agreement with NovAliX Deutschland GmbH that replaced in its entirety a prior agreement, dated December 23, 2009, between Gardedam and NovAlix’s predecessor. Under the Agreement, NovAliX granted the Company a worldwide, perpetual, non-exclusive right to sublicense, to use certain compounds, synthesized compounds and other information provided by NovAlix to use against the DJ-1 protein. The new agreement modified the remaining amount owed of approximately $215,000 as of March 31, 2015 to approximately $120,000 on November 12, 2015. This resulted in a reduction in the Company’s accounts payable of approximately $107,884, which was recorded in other income in the fiscal year ended March 31, 2016. Of the $120,000 due under the agreement, $32,000 fell due in November 2015, $40,000 was due by May 12, 2016 and $48,000 was due by November 12, 2016. All these payments have been made and no amounts are due under the contract as of March 31, 2017. NovAliX Collaboration Agreement - ABeta On March 23, 2016, the Company entered into a collaboration agreement with NovAliX Deutschland GmbH to use technology related to the protein ABeta. The terms of the agreement required an initial payment of approximately $80,000, payable within 4 years, which would accrue interest at 20% per annum from the date of signing until the balance is paid, which is recognized in the balance sheets as an accrued technology access fee. As of March 31, 2017 and 2016, approximately $90,000 and $80,000 was accrued and outstanding under this agreement. A milestone payment of approximately $80,000 is payable upon commercialization of the technology. Purdue Research Foundation Licensing Agreement – DJ-1 Small Molecule On April 1, 2016, we entered into a trade secret license agreement with Purdue Research Foundation (“PRF”). Pursuant to this agreement, we received licenses to use certain information generated at Purdue University related to the DJ-1 compounds. These licenses include a worldwide, exclusive license to use that information to manufacture, use and sell products to diagnose, prevent and treat diseases and a worldwide, non-exclusive license under PRF’s rights in any invention for research and development of DJ-1 compounds. The license fee is $50,000, payable in five equal annual installments. The first installment of $10,000 fell due in July 2016 and was paid. As of March 31, 2017, $40,000 was accrued under this agreement. Cambridge Enterprise Licensing Agreement - Tau On September 7, 2016, we entered into a global licensing agreement with Cambridge Enterprise to use certain technology connected to the Tau small molecule project conducted at Cambridge University in conjunction with the Max Planck Institute. The agreement defined an initial payment of $12,564 which has been paid by the Company, followed by further payments upon reaching the following milestones: i) Internal Declaration of Candidate - $12,564 for technology based patents or $25,128 for data based patents; ii) First dose in man or initiation of any Phase I Trial of each Licensed Product - $12,564 for technology based patents or $25,128 for data based patents - $87,948 for technology based patents or $175,896 for data based patents; iii) Initiation of any phase II trial of each Licensed Product - $125,640 for technology based patents or $251,280 for data based patents; iv) Initiation of any phase III trial of any Licensed Product - $125,640 for technology based patents or $628,200 for data based patents; v) First approval or marketing authorization of each Licensed Product in the United States or European Union - $125,640 for technology based patents or $628,200 for data based patents; and vi) Reimbursement approval in the U.S. - $125,640 for technology based patents or $628,200 for data based patents.

Related Party Transactions Disc

Related Party Transactions Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Related Party Transactions Disclosure	NOTE 5 - RELATED PARTY TRANSACTIONS Toth and Associates LTD On July 1, 2016, the Company entered into a consulting agreement with Toth and Associates, LTD for Dr. Toth to act as the Company’s CEO. The agreement calls for a standard monthly fee of approximately $12,000 plus any additional uncontracted hours at the same rate, and bonuses as follows (A) upon raising of capital on behalf of, or as part of the Company, an amount equal to 1.5% of the capital raised, (B) increasing the performance of the Company as measured by valuation in either an agreed valuation in the context of an investment or, in the case of a public company, market capitalization reaching $30.0 million, a fixed bonus of $50,000, payable wholly or in mutually agreed tranches over a 6 month period subsequent to the valuation event, (C) on the issuance of new stock for the purposes of a capital raise of an amount over $5.0 million, common stock equal to 1% of the Company’s post-investment issued share capital and (D) in the event of the Company, including any affiliated entities, securing a licensing agreement with any 3rd party, an amount equivalent to 1.5% of any payments to the Company under such licensing agreement. The Company incurred consulting fees of approximately $144,000 for the year ended March 31, 2017. As of March 31, 2017, Toth and Associates LTD was owed approximately $86,000, comprising $36,000 unpaid fees from fiscal year 2017 and $50,000 bonus carried over from fiscal year 2016. The $86,000 is included in Accounts payable. In the year ended March 31, 2016, the Company incurred consulting fees and bonuses of approximately $200,000. As of March 31, 2016, Toth and Associates LTD was owed approximately $62,000, comprising $12,000 fees and $50,000 bonus. Capro LTD On July 1, 2016, the Company entered a consulting agreement with Capro, LTD for Dr. Thomas Sawyer to act as the Company’s COO. The agreement calls for a standard monthly fee of approximately $10,000 plus any additional uncontracted hours at the same rate, and bonuses as follows (A) upon raising of capital on behalf of, or as part of the Company, an amount equal to 1.5% of the capital raised, (B) increasing the performance of the Company as measured by valuation in either an agreed valuation in the context of an investment or, in the case of a public company, market capitalization reaching $30.0 million, a fixed bonus of $50,000, payable wholly or in mutually agreed tranches over a 6 month period subsequent to the valuation event and (C) on the issuance of new stock for the purposes of a capital raise of an amount over $5.0 million, common stock equal to 1% of the Company’s post-investment issued share capital and (D) in the event of the Company, including any affiliated entities, securing a licensing agreement with any 3rd party, an amount equivalent to 1.5% of any payments to the Company under such licensing agreement. The Company incurred consulting fees and bonuses of approximately $120,000 for the year ended March 31, 2017. As of March 31, 2017, Capro LTD was owed approximately $73,000, comprising $23,000 unpaid fees from fiscal year 2017 and $50,000 bonus carried over from fiscal year 2016. The $73,000 is included in Accounts payable. In the year ended March 31, 2016, the Company incurred consulting fees and bonuses of approximately $170,000. As of March 31, 2016, Capro LTD was owed approximately $60,000, comprising $10,000 fees and $50,000 bonus. Eden Professional LTD On July 1, 2016, the Company entered a consulting agreement with Eden Professional LTD for Mr. Simon Peace to act as the Company’s CFO. The agreement calls for a standard monthly fee of approximately $6,000 plus any additional uncontracted hours at the same rate, and bonuses as follows (A) upon raising of capital on behalf of, or as part of the Company, an amount equal to 1.5% of the capital raised, (B) increasing the performance of the Company as measured by valuation in either an agreed valuation in the context of an investment or, in the case of a public company, market capitalization reaching $30.0 million, a fixed bonus of $50,000, payable wholly or in mutually agreed tranches over a 6 month period subsequent to the valuation event and (C) on the issuance of new stock for the purposes of a capital raise of an amount over $5.0 million, common stock equal to 1% of the Company’s post-investment issued share capital and (D) in the event of the Company, including any affiliated entities, securing a licensing agreement with any 3rd party, an amount equivalent to 1.5% of any payments to the Company under such licensing agreement. The Company incurred consulting fees and bonuses of approximately $75,000 for the year ended March 31, 2017. As of March 31, 2017, Eden Professional LTD was owed approximately $69,000, comprising $19,000 unpaid fees from fiscal year 2017 and $50,000 bonus carried over from fiscal year 2016. The $69,000 is included in Accounts payable. In the year ended March 31, 2016, the Company incurred consulting fees and bonuses of approximately $130,000. In addition to the amounts under the note payable referred to in Note 6 below, as of March 31, 2016, Eden Professional LTD was owed approximately $56,000, comprising $6,000 fees and $50,000 bonus. Max Zhu Max Zhu, and investor in and lender to the Company, also works as Head of Computer Aided Drug Design for the Company under a consultancy contract. In the year ended March 31, 2017, the Company paid fees to Mr. Zhu under this contract totaling $24,000. In the year ended March 31, 2016, the Company paid fees to Mr. Zhu totaling $18,000.

Notes Payable Related Parties,

Notes Payable Related Parties, Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Notes Payable Related Parties, Disclosure	NOTE 6 - NOTES PAYABLE RELATED PARTIES Gergely Toth On September 13, 2016, Gergely Toth, the Company’s CEO, advanced the Company approximately $10,000 under a note. The note bore no interest and was payable on demand. This $10,000 note was repaid on October 18, 2016. On January 3, 2017, Gergely Toth advanced the Company approximately $4,000 under a note. The note bore no interest and was payable on demand. This $4,000 note was repaid on February 1, 2017. Eden Professional Ltd On July 22, 2016, the Company repaid approximately $15,000 to satisfy a loan note from Eden Professional Ltd, the service company of the Company’s CFO. The note bore no interest. Max Zhu On December 8, 2016, Max Zhu, an investor and consultant to the Company, advanced the Company $45,000 under a note. The note has a term of six months, maturing on June 8, 2017. The note accrues interest at 13% up to the end of the term, and 18% thereafter. Prior Year Notes Payable Related Parties In the year ended March 31, 2016, the officers of the Company loaned funds totaling $34,000 to the company to fund operating expenses. The loans were unsecured, non-interest bearing, and had no specific terms of repayment. As of March 31, 2016, the balance outstanding was $16,562.

Capital Stock Disclosure

Capital Stock Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Capital Stock Disclosure	NOTE 7 - CAPITAL STOCK Stock Subscriptions On April 12, 2015, we entered into a memorandum of understanding (“MOU”) with a group of investors, and subsequently on October 21, 2015, we entered into an Investment Agreement with these investors for $1,500,000 to be payable in several tranches. Upon payment of each tranche the Company was to issue shares to the investors equal to the value of the tranche divided by the higher of (i) $2.00 or (ii) the average of the closing sales price of the Company’s common stock on each of the five days prior to the date that payment for such tranche is due. The shares were to be issued to escrow until all payments had been made. Upon completion of the payments due under the agreements, the investors will have a twelve-month option to invest up to an additional $1,000,000 into the Company on the same terms. The final tranche of $500,000 was due in October 2016, but to date that payment has not been made. We have not yet opted to terminate this Agreement. On June 7, 2016, we signed an Addendum (the “Addendum”) to the Investment Agreement providing for an additional $60,000 of investment on the same terms as the Investment Agreement. The funding was paid to the Company within the terms of the Addendum on June 8, 2016. Final Placement To date no shares have been issued to escrow due to management’s uncertainty over the investors’ appetite to complete the funding arrangement following a fall in share price. To date the investors are due to receive 530,000 shares for the $1,060,000 already invested. The final tranche of $500,000 was due in October 2016, but to date that payment has not been made. Prior Year Capital Stock Issuances Approximately 11,750,000 shares were issued in connection with a reverse merger that was consummated. Approximately 675,676 shares were issued associated with a capital raise for proceeds of $100,000.

Commitments and Contingencies D

Commitments and Contingencies Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Commitments and Contingencies Disclosure	NOTE 8 - COMMITMENTS Leases on Property The Company has a $1,300 month to month lease on an office property in Sunnyvale, CA. On March 2, 2017, the Company resigned its annual lease on a Laboratory in Budapest, Hungary. The monthly lease payments total approximately $2,700, and the lease term was 1 year. The lessor may terminate upon non-payment of rent, and the Company may terminate if the laboratory is not operational for 15 days or more.

Income Taxes Disclosure

Income Taxes Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Income Taxes Disclosure	NOTE 9 - INCOME TAXES The Company had no income tax expense due to operating losses incurred for the years ended March 31, 2017 and 2016. The difference between the statutory federal tax rate of 34% and the effective tax rate is summarized below: March 31, March 31, 2017 2016 Federal tax at statutory rate: 34.0% 34.0% State taxes (net of Federal benefit) 5.8% 5.8% Permanent differences -0.9% -0.1% Change in Valuation Allowance -38.9% -39.7% Provision for Income Taxes 0.0% 0.0% The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows: March 31, March 31, 2017 2016 Net Operating Loss Carryforwards $ 738,000 $ 305,000 Accrued Bonus 60,000 60,000 Less: Valuation Allowance (798,000) (365,000) Net Deferred Tax Asset $ -- $ -- At March 31, 2016 and 2017, the Company has provided a full valuation allowance against its net deferred assets since realization of these benefits is not more likely than not. At March 31, 2017, the Company had federal and state net operating loss tax carryforwards of approximately $1.9million. These net operating loss carryforwards expire in various amounts starting in 2029. The utilization of the federal and state net operating loss carryforwards will depend on the Company’s ability to generate sufficient taxable income prior to the expiration of the carryforwards. In addition, the maximum annual use of net operating loss is limited in certain situations where changes occur in stock ownership. As of March 31, 2016 and 2017, the Company had no unrecognized tax benefits. To date, no tax returns have been filed by the Company. NOLs cannot be used against future income until returns are filed. Until those tax returns are filed by the Company, all tax years will remain open to examination by federal tax and state tax jurisdictions. No income tax returns are currently under examination by taxing authorities.

Convertible Debentures Disclosu

Convertible Debentures Disclosure	12 Months Ended
	Mar. 31, 2017
Notes
Convertible Debentures Disclosure	NOTE 10 - CONVERTIBLE DEBENTURES Background On January 25, 2017, the Company entered into a securities purchase agreement with an accredited investor to place Convertible Debentures (as amended the “Debentures”) with a maturity date of January 25, 2018 in the aggregate principal amount of up to $600,000 (the “Transaction”), provided that in case of an event of default, the Debentures may become at the holder’s election immediately due and payable. The initial closing of the Transaction occurred on January 25, 2017 when the Company issued a Debenture for $300,000. A second closing for $150,000 occurred on March 2, 2017 and a third closing for $150,000 occurred on May 3, 2017. The Debentures bear interest at the rate of 5% per annum. In addition, the Company must pay to the holder a fee equal to 7% of the amount of the Debentures to assist in their monitoring costs for the Debentures. The net proceeds of the financing will be used for general corporate matters and for other expenses. Conversion Features The Debentures may be converted at any time on or prior to maturity at the lower of $0.3107 or 93% of the average of the three lowest daily volume weighted average price (VWAP) during the 10 consecutive trading days immediately preceding the conversion date, provided that as long as we are not in default under the Debenture, the conversion price may never be less than $0.05. Any time after the six-month anniversary of the issuance of a Debenture that the daily VWAP is less than $0.05 for a period of twenty consecutive trading days (the “Triggering Date”) and only for so long as such conditions exist after a Triggering Date, the Company shall make monthly payments beginning on the last calendar day of the month when the Triggering Date occurred. Each monthly payment shall be in an amount equal to the sum of (i) the principal amount outstanding as of the Triggering Date divided by the number of such monthly payments until maturity, (ii) a redemption premium of 20% in respect of such principal amount and (iii) accrued and unpaid interest hereunder as of each payment date. The Company may, no more than twice, obtain a thirty-day deferral of a monthly payment due as a result of a Triggering Date through the payment of a deferral fee in the amount equal to 10% of the total amount of such monthly payment. Each deferral payment may be paid by the issuance of such number of shares as is equal to the applicable deferral payment divided by a price per share equal to 93% of the average of the four lowest daily VWAPs during the 10 consecutive Trading Days immediately preceding the due date in respect of such monthly payment begin deferred, provided that such shares issued will be immediately freely tradable shares in the hands of the holder. Debt discount, embedded redemption feature and beneficial conversion feature Upon issuance of the Debentures in the first and second closings, the Company recognized an aggregate debt discount of approximately $175,000 to the aggregate $450,000 principal value of Debentures, comprised approximately of the following: Fees paid to an affiliate of the lender $ 86,000 Beneficial conversion feature 68,000 Estimated fair value of embedded derivative 21,000 Aggregate discount amount $ 175,000 The debt discount is presented net of the related Debenture balance in the Consolidated Balance Sheets and is amortized to interest expense over the Debenture’s term using the effective interest method. Beneficial Conversion Feature At the time of each closing, the Debenture’s effective conversion price was below the quoted market price of the Company’s common stock. As such, the Company recognized a beneficial conversion feature equal to the intrinsic value of the conversion feature on each issuance date, resulting in a discount to the Debenture with a corresponding credit to additional paid-in capital. Embedded Derivative The monthly payment provision within the Debentures is a contingent put option that is required to be separately measured at fair value, with subsequent changes in fair value recognized in the Consolidated Statement of Operations. The Company estimated the fair value of the monthly payment provision, as of the issuance date and March 31, 2017 using probability analysis of the occurrence of a Triggering Date applied to the discounted maximum redemption premium for any given payment. The probability analysis utilized in calculating the embedded derivative upon issuance and at March 31, 2017 was calculated using the following key inputs: Key Inputs Stock price $ 0.16 - $0.23 Probability of Triggering Date 23.3% - 34.7% Volatility 206.9% Risk-free rate 0.82% - 1.03% Discount rate 39.6% The maximum redemption was discounted at 39.6%, the calculated effective rate of the Debenture before measurement of the contingent put option. The fair value estimate of the embedded derivative is a Level 3 measurement. The roll-forward of the Level 3 fair value measurement, for the three months ended March 31, 2017, is as follows: Balance at January 1, 2017 Issuance Net unrealized (gain)/loss Balance at March 31, 2017 - $21,000 $3,000 $24,000 The carrying value of the Debentures, as of March 31, 2017, is comprised of the following: Secured Convertible Debenture at March 31, 2017: Principal value of 5%, convertible $ 450,000 Fair value of embedded derivative 24,000 Debt discount (151,744) Carrying value of Secured Convertible Debenture Note $ 322,256 As of March 31, 2017, the estimated aggregate fair value of all outstanding convertible notes payable is approximately $550,000. The fair value estimate is based on the estimated option value of the conversion terms. The conversion price was $0.1316 as of March 31, 2017. The estimated fair value represents a Level 3 measurement. Events of Default or Financial covenants The Company is in compliance with all terms associated with the convertible note.

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2017
Notes
Subsequent Events	NOTE 11 - SUBSEQUENT EVENTS Receipt of further investment funds On May 3, 2017, the Company received further investment totaling $150,000 under the January 25, 2017 convertible debentures agreement referred to in Note 10. At the time of this third closing, for no additional consideration, the Company and the Buyer agreed that the Original Debentures (first and second closings) shall be exchanged for New Convertible Debentures. All interest that has accrued on an Original Debenture shall be deemed to have accrued on the New Convertible Debenture for which it is exchanged. The date of issuance of each such New Convertible Debenture shall be deemed to be the issuance date of the Original Debenture for which it is exchanged. Issuance of shares On May 17, 2017, the Company issued 129,149 shares to research staff working for the Company, and on May 22, 2017, the Company issued 200,000 shares as part payment for investor relations services supplied to the Company.

Summary of Significant Accoun18

Summary of Significant Accounting Policies: Basis of Presentation Policy (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Basis of Presentation Policy	Basis of Presentation These financial statements are presented in United States dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

Summary of Significant Accoun19

Summary of Significant Accounting Policies: Principles of Consolidation (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Principles of Consolidation	Principles of Consolidation These financial statements include the accounts of the Company and its wholly-owned subsidiary.

Summary of Significant Accoun20

Summary of Significant Accounting Policies: Use of Estimates Policy (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Use of Estimates Policy	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the year. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates.

Summary of Significant Accoun21

Summary of Significant Accounting Policies: Income Taxes Policy (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Income Taxes Policy	Income Taxes The Company recognizes income taxes on an accrual basis based on tax positions taken or expected to be taken in its tax returns. A tax position is defined as a position in a previously filed tax return or a position expected to be taken in a future tax filing that is reflected in measuring current or deferred income tax assets and liabilities. Tax positions are recognized only when it is more likely than not (i.e., likelihood of greater than 50%), based on technical merits, that the position would be sustained upon examination by taxing authorities. Tax positions that meet the more likely than not threshold are measured using a probability-weighted approach as the largest amount of tax benefit that is greater than 50% likely of being realized upon settlement. Income taxes are accounted for using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our financial statements or tax returns. A valuation allowance is established to reduce deferred tax assets if all, or some portion, of such assets will more than likely not be realized. Should they occur, our policy is to classify interest and penalties related to tax positions as income tax expense.

Summary of Significant Accoun22

Summary of Significant Accounting Policies: Fair Value of Financial Instruments Policy (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Fair Value of Financial Instruments Policy	Fair Value of Financial Instruments The Company's financial instruments consist of cash, accounts payable, convertible debentures and a loan payable to a related party. The carrying amounts of these financial instruments approximate fair value due either to length of maturity or interest rates that approximate prevailing rates unless otherwise disclosed in these financial statements.

Summary of Significant Accoun23

Summary of Significant Accounting Policies: Share Subscriptions Policy (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Share Subscriptions Policy	Share Subscriptions Under the terms of a subscription agreement the Company has received funds in advance of the issuance of stock. The stock is issuable to the investors once the full subscription proceeds are received, which, as of the date of this filing, has not yet occurred. The Company recorded the advance in equity.

Summary of Significant Accoun24

Summary of Significant Accounting Policies: Earnings Per Share Policy (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Earnings Per Share Policy	Earnings (Loss) per Share The Company calculates earnings per share using basic net income (loss) per common share be computed by dividing net income (loss) for the period by the weighted average number of common shares outstanding during the period. The Company does not compute diluted earnings per share because to do so would be anti-dilutive. Dilutive securities that were not considered in the computation for diluted net loss per share includes the convertible debentures that convert into 3,420,000 common shares, and 530,000 common shares which have not yet been issued under the stock subscriptions as described in Note 7.

Summary of Significant Accoun25

Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Mar. 31, 2017
Policies
Recent Accounting Pronouncements	Recent Accounting Standards Fiscal 2017 Accounting Pronouncement Adoptions In August 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In March 2016, the FASB issued ASU No. 2016-06, Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments Fiscal 2018 Accounting Pronouncement Adoptions In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 increases the transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Certain qualitative and quantitative disclosures are required, as well as a retrospective recognition and measurement of impacted leases. The new ASU is effective for fiscal years and interim periods within those years beginning after March 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of this new standard and does not expect it to have a material impact on our financial statements.

Income Taxes Disclosure_ Schedu

Income Taxes Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Effective Income Tax Rate Reconciliation	March 31, March 31, 2017 2016 Federal tax at statutory rate: 34.0% 34.0% State taxes (net of Federal benefit) 5.8% 5.8% Permanent differences -0.9% -0.1% Change in Valuation Allowance -38.9% -39.7% Provision for Income Taxes 0.0% 0.0%

Income Taxes Disclosure_ Sche27

Income Taxes Disclosure: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	March 31, March 31, 2017 2016 Net Operating Loss Carryforwards $ 738,000 $ 305,000 Accrued Bonus 60,000 60,000 Less: Valuation Allowance (798,000) (365,000) Net Deferred Tax Asset $ -- $ --

Convertible Debentures Disclo28

Convertible Debentures Disclosure: Debt discount, embedded redemption feature and beneficial conversion feature (Tables)	12 Months Ended
	Mar. 31, 2017
Tables/Schedules
Debt discount, embedded redemption feature and beneficial conversion feature	Fees paid to an affiliate of the lender $ 86,000 Beneficial conversion feature 68,000 Estimated fair value of embedded derivative 21,000 Aggregate discount amount $ 175,000

Convertible Debentures Disclo29

Convertible Debentures Disclosure: Embedded Derivative - key inputs (Tables)	12 Months Ended
	Mar. 31, 2017
Tables/Schedules
Embedded Derivative - key inputs	Key Inputs Stock price $ 0.16 - $0.23 Probability of Triggering Date 23.3% - 34.7% Volatility 206.9% Risk-free rate 0.82% - 1.03% Discount rate 39.6%

Convertible Debentures Disclo30

Convertible Debentures Disclosure: Fair Value Measured on Embedded Derivative (Tables)	12 Months Ended
	Mar. 31, 2017
Tables/Schedules
Fair Value Measured on Embedded Derivative	Balance at January 1, 2017 Issuance Net unrealized (gain)/loss Balance at March 31, 2017 - $21,000 $3,000 $24,000

Convertible Debentures Disclo31

Convertible Debentures Disclosure: Schedule of Carrying Values of Convertible Debt Instruments (Tables)	12 Months Ended
	Mar. 31, 2017
Tables/Schedules
Schedule of Carrying Values of Convertible Debt Instruments	Secured Convertible Debenture at March 31, 2017: Principal value of 5%, convertible $ 450,000 Fair value of embedded derivative 24,000 Debt discount (151,744) Carrying value of Secured Convertible Debenture Note $ 322,256

Liquidity and Going Concern D32

Liquidity and Going Concern Disclosure (Details)	Mar. 31, 2017USD ($)
Details
working capital deficit	$ 853,922

Summary of Significant Accoun33

Summary of Significant Accounting Policies: Earnings Per Share Policy (Details)	12 Months Ended
	Mar. 31, 2017shares
Convertible debentures common shares
Dilutive securities not considered in the computation for diluted net loss per share	3,420,000
Common shares not yet issued (stock subscriptions)
Dilutive securities not considered in the computation for diluted net loss per share	530,000

Material Agreements Disclosure

Material Agreements Disclosure (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Gain on extinguishment of debt		$ 107,884
Accrued technology access fee	$ 140,142	173,414
NovAliX Collaboration Agreement - DJ-1
Gain on extinguishment of debt		107,884
NovAliX Collaboration Agreement - ABeta
Accrued technology access fee	90,000	$ 80,000
Amount due per agreement	80,000
Purdue Research Foundation
Accrued technology access fee	40,000
Payments made per agreements	10,000
Cambridge Enterprise Licensing Agreement - Tau
Payments made per agreements	$ 12,564

Related Party Transactions Di35

Related Party Transactions Disclosure (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Toth and Associates LTD
Monthly compensation	$ 12,000
Fixed bonus, to be paid if certain conditions are met	50,000
Related party consulting fees incurred	144,000	$ 200,000
Accounts payable - related party	86,000	62,000
Capro LTD
Monthly compensation	10,000
Fixed bonus, to be paid if certain conditions are met	50,000
Related party consulting fees incurred	120,000	170,000
Accounts payable - related party	73,000	60,000
Eden Professional LTD
Monthly compensation	6,000
Fixed bonus, to be paid if certain conditions are met	50,000
Related party consulting fees incurred	75,000	130,000
Accounts payable - related party	69,000	56,000
Max Zhu
Related party consulting fees incurred	$ 24,000	$ 18,000

Notes Payable Related Parties36

Notes Payable Related Parties, Disclosure (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Proceeds from related party notes payable	$ 59,368	$ 33,755
Repayments of related party notes payable	30,583	17,194
Notes payable related party	47,154	16,562
Gergely Toth - September 13, 2016 advance
Proceeds from related party notes payable	10,000
Repayments of related party notes payable	10,000
Gergely Toth - January 3, 2017 advance
Proceeds from related party notes payable	4,000
Repayments of related party notes payable	4,000
Eden Professional LTD
Repayments of related party notes payable	15,000
Max Zhu
Proceeds from related party notes payable	$ 45,000
Officers of the Company loaned funds
Proceeds from related party notes payable		34,000
Notes payable related party		$ 16,562

Capital Stock Disclosure (Detai

Capital Stock Disclosure (Details)	12 Months Ended
	Mar. 31, 2016USD ($)shares
Details
Common stock issued in reverse merger	11,750,000
Common stock issued for cash	675,676
Proceeds from sale of common stock | $	$ 100,000

Commitments and Contingencies38

Commitments and Contingencies Disclosure (Details)	12 Months Ended
	Mar. 31, 2017USD ($)
Office property in Sunnyvale, CA
Monthly payments required on Property Leases	$ 1,300
Laboratory in Budapest, Hungary (resigned March 2, 2017)
Monthly payments required on Property Leases	$ 2,700

Income Taxes Disclosure_ Sche39

Income Taxes Disclosure: Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Details
Federal tax at statutory rate	34.00%	34.00%
State taxes (net of Federal benefit)	5.80%	5.80%
Permanent difference	(0.90%)	(0.10%)
Change in Valuation Allowance	(38.90%)	(39.70%)

Income Taxes Disclosure_ Sche40

Income Taxes Disclosure: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Mar. 31, 2017	Mar. 31, 2016
Details
Net operating loss carried forward	$ 738,000	$ 305,000
Accrued Bonus	60,000	60,000
Valuation Allowance	$ (798,000)	$ (365,000)

Income Taxes Disclosure (Detail

Income Taxes Disclosure (Details) $ in Millions	Mar. 31, 2017USD ($)
Details
Net tax loss carried forward	$ 1.9

Convertible Debentures Disclo42

Convertible Debentures Disclosure (Details) - USD ($)	12 Months Ended
	Mar. 31, 2017	May 03, 2017
Convertible debentures issued	$ 450,000
Estimated aggregate fair value of all outstanding convertible notes payable	$ 550,000
Conversion price per share	$ 0.1316
First closing - January 25, 2017
Convertible debentures issued	$ 300,000
Second closing - March 2, 2017
Convertible debentures issued	$ 150,000
Third closing - May 3, 2017
Convertible debentures issued		$ 150,000
Convertible Debentures Issued
Annual interest rate	5.00%
Monitoring costs Fee	7.00%
Conversion features	The Debentures may be converted at any time on or prior to maturity at the lower of $0.3107 or 93% of the average of the three lowest daily volume weighted average price (VWAP) during the 10 consecutive trading days immediately preceding the conversion date, provided that as long as we are not in default under the Debenture, the conversion price may never be less than $0.05.

Convertible Debentures Disclo43

Convertible Debentures Disclosure: Debt discount, embedded redemption feature and beneficial conversion feature (Details)	Mar. 31, 2017USD ($)
Debt discount amount	$ 175,000
Convertible Debentures - Fees paid to an affiliate
Debt discount amount	86,000
Convertible Debentures - Beneficial conversion feature
Debt discount amount	68,000
Convertible Debentures - Estimated fair value of embedded derivative
Debt discount amount	$ 21,000

Convertible Debentures Disclo44

Convertible Debentures Disclosure: Fair Value Measured on Embedded Derivative (Details)	12 Months Ended
	Mar. 31, 2017USD ($)
Details
Net loss realized in fair value of embedded derivative	$ 3,000

Convertible Debentures Disclo45

Convertible Debentures Disclosure: Schedule of Carrying Values of Convertible Debt Instruments (Details)	Mar. 31, 2017USD ($)
Details
Convertible debentures issued	$ 450,000
Fair value of embedded derivative	24,000
Debt discount	(151,744)
Convertible debentures	$ 322,256

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	2 Months Ended
	May 22, 2017	May 17, 2017	May 03, 2017	Mar. 31, 2017
Convertible debentures issued				$ 450,000
Research staff
Common stock issued for services		129,149
Investor relations services
Common stock issued for services	200,000
Third closing - May 3, 2017
Convertible debentures issued			$ 150,000