Panacea Life Sciences (PLSH) 10-Q 21 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 21, 2018
Document And Entity Information
Entity Registrant Name	Exactus, Inc.
Entity Central Index Key	1,552,189
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		36,790,537
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents		$ 38,935	$ 161,215
Prepaid expenses		46,504	11,458
Total current assets		85,439	172,673
TOTAL ASSETS		85,439	172,673
Current Liabilities
Accounts payable		732,062	735,051
Accrued expenses		881,780	582,236
Note payable		48,000	48,000
Convertible loan notes, net		141,425	57,796
Derivative liability		544,000	930,000
Settlement payable		17,000	20,000
Interest payable		16,925	15,232
Total Current Liabilities		2,381,192	2,388,315
Notes Payable		100,000	735,051
Total Long Term Liabilities		100,000	735,051
TOTAL LIABILITIES		2,481,192	3,123,366
Stockholders' (Deficit) Equity
Common stock: 200,000,000 shares authorized; $0.0001 par value 33,571,862 and 34,071,862 shares issued and outstanding, respectively		3,679	3,507
Additional paid-in capital		4,873,665	3,980,103
Accumulated deficit		(7,274,419)	(6,200,573)
Total Stockholders' (Deficit) Equity		(2,395,753)	(2,215,642)
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY		85,439	$ 172,673
Series A Preferred Stock
Stockholders' (Deficit) Equity
Preferred stock: 50,000,000 authorized; $0.0001 par value 0 shares issued and outstanding	$ 0	0
Series B-1 Preferred Stock
Stockholders' (Deficit) Equity
Preferred stock: 50,000,000 authorized; $0.0001 par value 0 shares issued and outstanding	280	280
Series B-2 Preferred Stock
Stockholders' (Deficit) Equity
Preferred stock: 50,000,000 authorized; $0.0001 par value 0 shares issued and outstanding	868	868
Series C Preferred Stock
Stockholders' (Deficit) Equity
Preferred stock: 50,000,000 authorized; $0.0001 par value 0 shares issued and outstanding	173	173
Series D Preferred Stock [Member]
Stockholders' (Deficit) Equity
Preferred stock: 50,000,000 authorized; $0.0001 par value 0 shares issued and outstanding	$ 0	$ 1

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Mar. 31, 2018
Common stock, shares authorized		200,000,000
Common stock, par value per share		$ .0001
Common stock, shares issued		36,790,537
Common stock, shares outstanding		36,790,537
Series A Preferred Stock
Preferred stock, shares authorized		50,000,000
Preferred stock, par value per share		$ 0.0001
Preferred stock, shares issued	0	4,558,042
Preferred stock, shares outstanding	0	0
Series B-1 Preferred Stock
Preferred stock, shares authorized		32,000,000
Preferred stock, par value per share		$ .0001
Preferred stock, shares issued		2,800,000
Preferred stock, shares outstanding		2,800,000
Series B-2 Preferred Stock
Preferred stock, shares authorized		10,000,000
Preferred stock, par value per share		$ .0001
Preferred stock, shares issued		8,684,000
Preferred stock, shares outstanding		8,684,000
Series C Preferred Stock
Preferred stock, shares authorized		1,733,334
Preferred stock, par value per share		$ .0001
Preferred stock, shares issued		1,733,334
Preferred stock, shares outstanding		1,733,334
Series D Preferred Stock [Member]
Preferred stock, shares authorized		200
Preferred stock, par value per share		$ .0001
Preferred stock, shares issued	0	45
Preferred stock, shares outstanding		0

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 0	$ 0
Operating Expenses
General and administration	1,196,138	292,813
Professional	111,557	219,989
Research and development	75,000	88,210
Total operating expenses	1,382,695	601,012
Net loss from operations	(1,382,695)	(601,012)
Other Income (loss)
Derivative gain	(420,150)	0
Amortization of discount and debt issuance costs for convertible notes	(99,078)
Interest expense	12,223	0
Total other (loss) income	308,849	0
Net loss before income taxes	(1,073,846)	(601,012)
Provision for income tax	0	0
Net Loss	$ (1,073,846)	$ (601,012)
Basic and Diluted Loss per Common Share	$ (0.03)	$ (0.02)
Weighted Average Number of Common Shares Outstanding	36,179,376	33,860,762

Condensed Consolidated Statemen

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities:
Net loss	$ (1,073,846)	$ (601,012)
Adjustments to reconcile net loss to cash used in operations:
Derivative expense	(436,650)	0
Amortization of discount and debt issuance costs for convertible notes	99,078	0
Interest expense	(12,223)	0
Loss on debt settlement in stock	257,801	0
(Increase) decrease in operating assets:
Prepaid expenses	(35,046)	4,409
Increase (decrease) in operating liabilities:
Accounts payable	(2,989)	(174,887)
Accrued expenses	885,456	(3,121)
Settlement payable	(3,000)	0
Interest payable	1,693	0
Net Cash Used In Operating Activities	(295,280)	(783,429)
Cash Flows From Investing Activities:
Net Cash Used In Investing Activities	0	0
Cash Flows From Financing Activities:
Proceeds from sale of Series B-2 Preferred Stock	0	25,000
Proceeds from sale of Series D Preferred Stock	50,000	0
Proceeds from notes Payable	100,000	0
Payments on convertible loan notes	(25,000)	0
Proceeds from convertible loan notes	48,000	0
Net Cash Provided By Financing Activities	173,000	25,000
Net decrease in cash and cash equivalents	(122,280)	(758,429)
Cash and cash equivalents at beginning of period	161,215	1,055,336
Cash and cash equivalents at end of period	38,935	296,907
Supplemental Cash Flow Information:
Cash paid for interest	0	0
Cash paid for taxes	0	0
Non-Cash transactions investing and financing activity:
Debt settled by Preferred Series D stock issued, March 28, 2018	500,000	0
Debt settled by common stock issued, February 2, 2018	85,934	0
Increases in convertible loan note principal	16,500	0
Initial benefical conversion feature and debt discount on convertible note	58,500	0
Initial derivative liability on convertible note	$ 94,000	$ 0

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
BASIS OF PRESENTATION	The accompanying unaudited condensed consolidated financial statements presented herein have been prepared in accordance with the instructions to Form 10-Q and do not include all the information and note disclosures required by accounting principles generally accepted in the United States (“GAAP”). The financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2017 filed with the Securities and Exchange Commission (the “SEC”) by Exactus, Inc. (formerly known as Spiral Energy Tech, Inc. and Solid Solar Energy, Inc.) (“Exactus”, “our”, “us”, “we” or the “Company” refer to Exactus, Inc. and its wholly-owned subsidiary, unless the context otherwise requires) on April 2, 2018. On February 29, 2016, after acquiring all the issued and outstanding capital stock of Exactus BioSolutions, Inc., the Company changed its business focus from drone technology to a life science company. In the opinion of management, this interim information includes all material adjustments, which are of a normal and recurring nature, necessary for fair presentation. 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 revenues and expenses during the reporting period. Actual results could differ from those estimates. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results to be expected for the entire year or for any other period. We adopted early application of Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements effective September 30, 2014, therefore, inception-to-date information and other remaining disclosure requirements of Topic 915 are not presented or disclosed.

BUSINESS DESCRIPTION AND GOING

BUSINESS DESCRIPTION AND GOING CONCERN	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS DESCRIPTION AND GOING CONCERN	Organization and Business Description Exactus was incorporated on January 18, 2008 as “Solid Solar Energy, Inc.” in the State of Nevada as a for-profit Company. On May 16, 2013, we filed a certificate of amendment to the Company’s amended and restated articles of incorporation to change our name to “Spiral Energy Tech., Inc.” from Solid Solar Energy, Inc. On February 29, 2016, we acquired all of the issued and outstanding capital stock of Exactus BioSolutions, Inc. (“Exactus BioSolutions”) pursuant to a Share Exchange Agreement, dated February 29, 2016, with Exactus BioSolutions (the “Share Exchange”). T Following the Share Exchange, we became a life science company based in Glen Allen, Virginia that plans to develop and commercialize Point-of-Care (“POC”) diagnostics for measuring proteolytic enzymes in the blood based on a novel detection platform developed by Dr. Krassen Dimitrov, PhD. Our products will employ a disposable assay test strip combined with a portable and easy to use hand held detection unit that provides a result in as little as 30 seconds. The first product, the FibriLyzer, will be used to assay fibrinolysis, which is the process by which clots in the blood are dissolved. The rate of fibrinolysis is carefully regulated in circulation; too little fibrinolysis leads to the formation of clots (thrombosis) and too much fibrinolysis prevents normal coagulation and can lead to excessive bleeding (hemorrhage). An elevated level of fibrinolysis is associated with many pathological conditions including myocardial infarction, pulmonary embolisms/deep vein thrombosis (PE/DVT) and ischemic stroke. Further, complications associated with surgical procedures and trauma can induce a hyperfibrinolytic state, leading to hemorrhage. In all of these medical situations, time is of the essence, and we believe current diagnostic technologies cannot return an actionable result in the time frame necessary to provide timely therapeutic intervention. The FibriLyzer is expected to provide a simple, rapid and affordable means to assess the fibrinolytic state of a patient in a broad range of applications including (i) the management of hyperfibrinolytic states associated with surgery and trauma, (ii) obstetrics, (iii) diagnosis of acute events such as myocardial infarction and ischemic stroke, (iv) diagnosis of pulmonary embolism and deep vein thrombosis, (v) chronic coronary disease management, and (vi) as a monitoring device to evaluate the effectiveness of coagulation therapy. We anticipate that the use of FibriLyzer will provide the basis for improving management of patients who are at-risk of hemorrhage, expediting treatment, potentially improving patient outcomes, and saving money. We plan to follow up FibriLyzer with a similar technology to detect collagenase levels in the blood. This product, MatriLyzer, is intended to be used to detect the recurrence (or initial occurrence in high risk patients) of cancer and can be used as an at-home monitoring device or during routine office visits. The appearance of elevated levels of collagenase, the enzyme that degrades collagen, have been proven to be an early biomarker of recurrent cancer. For patients that have been previously treated for cancer, specifically, solid tumors, if and when the tumor recurs is of paramount importance. Once a tumor has begun to grow and spread, we believe that MatriLyzer can be used to detect this event at an early stage. If desired, our device will be designed to communicate directly with the attending oncologist via a smart phone application to ensure that the tests are being used properly and, when collagenase levels are elevated, both patient and physician will know the patient should have a more thorough examination. Prior to our acquisition of Exactus BioSolutions pursuant to the Share Exchange, our primary business focus was on developing and commercializing drone technology (the “Former Business”). As of March 31, 2018, we had no products available for sale. There can be no assurance that our technology will be approved for sale or, if approved for sale, be commercially successful. In addition, we operate in an environment of rapid change in technology and are dependent upon the continued services of our current consultants and subcontractors. As of March 31, 2018, we had $38,935 of cash. These funds will not be sufficient to enable us to complete the development of any potential products, including the FibriLyzer, to pay our debts as they become due, including pursuant to our convertible promissory notes (discussed in Note 6). Accordingly, we will need to obtain further funding through public or private equity offerings, debt financing, collaboration arrangements or other sources in order to continue our business. The issuance of any additional shares of common stock, preferred stock or convertible securities could be substantially dilutive to our shareholders. In addition, adequate additional funding may not be available to us on acceptable terms, or at all. If we are unable to raise capital, we would be forced to delay, reduce or eliminate our research and development programs and may not be able to continue as a going concern. These financial statements are presented on the basis that we will continue as a going concern. The going concern concept contemplates the realization of assets and satisfaction of liabilities in the normal course of business. No adjustment has been made to the carrying amount and classification of our assets and the carrying amount of our liabilities based on the going concern uncertainty. We have considered Accounting Standards Update (“ASU”) 2014-15 in consideration of reporting requirements of the going concern financial statements. The audit report prepared by our independent registered public accounting firm relating to our financial statements for the year ended December 31, 2017 includes an explanatory paragraph expressing substantial doubt about our ability to continue as a going concern. We have concluded that the circumstances described above continue to raise substantial doubt about our ability to continue as a going concern as of March 31, 2018. The Company’s headquarters are located at 4870 Sadler Road, Suite 300, Glen Allen, Virginia 23060. The Company’s fiscal year end is December 31.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The unaudited interim financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. Cash and Cash Equivalents We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The carrying value of those investments approximates their fair market value due to their short maturity and liquidity. Cash and cash equivalents include cash on hand and amounts on deposit with financial institutions, which amounts may at times exceed federally insured limits. We have not experienced any losses on such accounts and we do not believe we are exposed to any significant credit risk. Cash and cash equivalents were $38,935 and $161,215 at March 31, 2018 and December 31, 2017, respectively. Derivatives and Hedging- Contracts in Entity’s Own Equity In accordance with the provisions of ASC 815 “Derivatives and Hedging” the embedded beneficial conversion features in the Convertible Loan Notes (Note 6) are not considered to be indexed to our stock. As a result, these are required to be accounted for as a derivative financial liability and have been recognized as a liability on the balance sheets. The fair value of the derivative financial liability is determined using the Monte Carlo valuation model and is affected by changes in inputs to that model including the Company’s stock price, expected stock price volatility, the contractual term, and the risk-free interest rate. The derivative financial liability is subject to re-measurement at each balance sheet date and any changes in fair value is recognized as a component in other income (expenses) (Note 7). Revenue Recognition We recognize revenue when it is realized or realizable and estimable in accordance with ASC 605, “ Revenue Recognition. Research and Development Expenses We follow ASC 730-10, “ Research and Development,” Related Parties We follow ASC 850, “ Related Party Disclosures Earnings per Share We compute basic and diluted earnings per share amounts in accordance with ASC Topic 260, “ Earnings per Share As of March 31, 2018, the Company had 14,884,046 potential shares and warrants that were excluded from our calculation of diluted earnings per share because their effect would have been anti-dilutive. As of December 31, 2017, the Company had 14,884,001 shares that were considered to be anti-dilutive. Comprehensive Income (Loss) Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), are reported net of their related tax effect, to arrive at comprehensive income (loss). The Company had no other comprehensive income or loss for the three ended March 31, 2018 and 2017, respectively. Recent Accounting Pronouncements We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s financial management.

AGREEMENTS

AGREEMENTS	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
AGREEMENTS	Through the Share Exchange, the Company acquired an exclusive license agreement (the “Licensing Agreement”) between Exactus BioSolutions and Digital Diagnostics Inc. (“Digital Diagnostics”) that the Company recognized as an intangible asset. Pursuant to the Licensing Agreement, Digital Diagnostics granted to Exactus BioSolutions an exclusive license to develop, produce and commercialize certain diagnostic products, including the FibriLyzer and MatriLyzer, that utilize certain intellectual property rights owned or licensed by Digital Diagnostics. The Licensing Agreement provides for Exactus BioSolutions and Digital Diagnostics to collaborate through the various steps of the product and device development process, including the development, regulatory approval and commercialization stages. Exactus BioSolutions is required to pay Digital Diagnostics, in cash and/or stock, an initial signing payment, milestone fees triggered by the first regulatory clearance or approval of each of the FibriLyzer and the MatriLyzer, and various sales thresholds, and royalty payments based on the net sales of the products, calculated on a product-by-product basis. In 2016, the Company paid $50,000 to Digital Diagnostics as part of the initial signing payment under the Licensing Agreement and $21,659 in legal expenses. As of December 31, 2016, the Company accrued an additional $171,033 in licensing fees due to closing a financing transaction in the fourth quarter of 2016, of which $75,000 was paid during the first quarter of 2017. The Company accrued the remaining $30,000 due for the initial signing fee during the third quarter of 2017. The Company has also accrued interest, per the Licensing Agreement, of $9,802 for the remaining balance due as of December 31, 2017. As of December 31, 2017, $134,802 remained due to Digital Diagnostics. In the first quarter of 2018, the Company paid the entire balance due to Digital Diagnostics. No milestones have been met and no milestone fees have been paid or accrued through March 31, 2018. The License Agreement is effective until such time as neither Digital Diagnostics nor Exactus Biosolutions has any obligation to the other under the Licensing Agreement in any country with respect to any product. The Licensing Agreement may be terminated by the Company effective upon at least six (6) months written notice if regulatory approval has been obtained in the U.S. or in the European Union, or upon at least three (3) months written notice if regulatory approval has not been obtained in the U.S. or in the European Union. Either party may terminate the Licensing Agreement in the event the other party materially breaches the Licensing Agreement or becomes insolvent. On June 30, 2016, in order to conduct a clinical trial for the FibriLyzer and other studies, the Company entered into a Master Services Agreement (the “MSA”) with Integrium LLC (“Integrium”) and PoC Capital, LLC (“PoC Capital”). Under the MSA, Integrium has agreed to perform clinical research services in support of the development of POC diagnostics devices. Integrium is to conduct one or more studies in compliance with FDA regulations and pursuant to the Company’s specific service orders. PoC Capital has agreed to fund up to the first $1,000,000 in study costs and fees due to Integrium, with all fees in costs in excess of that amount being the Company’s sole responsibility, in exchange for 1,600,000 shares of the Company’s common stock, 1,733,334 shares of Series C Preferred Stock, and 1,666,667 warrants to purchase the Company’s common stock at a price of $0.60 per share exercisable for three years. For the year ended December 31, 2016 the Company had accounted $1,000,000 as prepaid expenses on the balance sheet which was impaired during the year ended December 31, 2017 due to cash constraints to manufacture materials needed for trial. See Note 5 below for additional information regarding the Company’s common stock, Series C Preferred Stock and warrants.

EQUITY TRANSACTIONS

EQUITY TRANSACTIONS	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
EQUITY TRANSACTIONS	Recapitalization and Change in Control On February 29, 2016, the Company consummated the Share Exchange, which resulted in a change in control of the Company. As part of this transaction, the Company acquired a $50,000 license agreement and $1,292 in cash and assumed liabilities of $51,000. The Company initially reported an issuance of 32 million shares of newly designated Series B-1 Preferred Stock to the shareholders of Exactus BioSolutions in the Share Exchange. Due to an anticipated pre-acquisition investment in Exactus BioSolutions that was not made, the final total issued shares of Series B-1 Preferred Stock was 30 million. The Company has considered the guidance pursuant to Rule 11-01(d) of Regulation S-X and related interpretations and has concluded the acquisition of Exactus BioSolutions pursuant to the Share Exchange is the acquisition of an asset and not of a business. The license agreement and shareholder loans have been accounted for and recorded at historical cost. Concurrently with the closing of the Share Exchange, the Company closed a private offering of Series B-2 Preferred Stock. The Company sold a total of 2,084,000 shares of Series B-2 Preferred Stock at an offering price of $0.25 per share, for an aggregate subscription price of $521,000. The Company originally reported a total of 2,884,000 shares of Series B-2 preferred stock being issued in the offering. Due to: (i) an anticipated investment for 1,000,000 shares which was not made, and (ii) an additional subscription for 200,000 shares for which documentation had not been completed at that time, however, the final total issued shares of Series B-2 Preferred Stock was 2,084,000. The shares sold in the offering included 400,000 shares of Series B-2 preferred stock issued to extinguish a $100,000 loan and 204,000 shares of Series B-2 preferred stock issued to former creditors of Exactus BioSolutions in exchange for their release of $51,000 in debt owed by Exactus. After accounting for these issuances, net cash proceeds from the offering were $370,000. No underwriting discounts or commissions have been or will be paid in connection with the sale of Series B-2 Preferred Stock. Also on February 29, 2016, the Company entered into exchange agreements with certain holders of common stock holding an aggregate of 393,314 post-split (11,636,170 pre-split) shares of common stock. Under the exchange agreements, these shareholders exchanged their common stock for a total of 4,558,042 shares of Series A Preferred Stock. These exchanges consisted of: (i) thirteen common stock holders holding 10,894,070 (pre-split) shares of common stock who exchanged their common stock for 3,458,042 shares Series A Preferred Stock, resulting in a (pre-split) exchange ratio of approximately 1 for 3.15, and (ii) one shareholder who, under a separately negotiated agreement, exchanged 742,100 (pre-split) shares common stock for 1,100,000 shares of Series A Preferred Stock, resulting at a (pre-split) exchange ratio of approximately 1.48 for 1. Immediately following such share exchanges, the Company repurchased 50,000 shares of Series A Preferred Stock from a shareholder for a total price of $50,000. Reverse Stock Split Effective March 22, 2016, the Company performed a reverse split of common stock on a 1 for 29.5849 basis, pursuant to the prior approval by the Company’s Board of Directors (“Board of Directors”) and a majority of shareholders. On March 22, 2016, the effective date of the reverse split, the Company had approximately 3,608,715 shares of common stock issued and outstanding, which were split into 121,978 shares of common stock. The par value of the common stock was unchanged at $0.0001 per share, post-split. All per share information in the condensed financial statements gives retroactive effect to the 1 for 29.5849 reverse stock split that was effected on March 22, 2016. Preferred Stock The Company’s authorized preferred stock consists of 50,000,000 shares with a par value of $0.0001. On February 17, 2016, the Board of Directors voted to designate a class of preferred stock entitled Series A Preferred Stock, consisting of up to five million (5,000,000) shares, par value $0.0001. The shares of Series A Preferred Stock were automatically converted to 4,508,042 shares of common stock on March 30, 2016, thirty (30) days after the closing of the Share Exchange and offering of Series B-2 Preferred Stock. As a result, there are 4,558,042 Series A preferred stock issued and zero outstanding as of March 31, 2018 and December 31, 2017. Also on February 17, 2016, the Company’s Board of Directors voted to designate a class of preferred stock entitled Series B-2 Convertible Preferred Stock (“Series B-2 Preferred Stock”), consisting of up to six million (6,000,000) shares, par value $0.0001, with a stated value of $0.25 per share. With respect to rights on liquidation, winding up and dissolution, holders of Series B-2 Preferred Stock will be paid in cash in full, before any distribution is made to any holder of common or other classes of capital stock, an amount of $0.25 per share. Shares of Series B-2 Preferred Stock have no dividend rights except as may be declared by the Board in its sole and absolute discretion, out of funds legally available for that purpose. Shares of Series B-2 Preferred Stock are convertible, at the option of the holder, into shares of common stock on a one (1) for one (1) basis. Holders of Series B-2 Preferred Stock have the right to vote as-if-converted to common stock on all matters submitted to a vote of the holders of the Company’s common stock. For so long as any shares of Series B-2 Preferred Stock are issued and outstanding, the Corporation shall not issue any notes, bonds, debentures, shares of preferred stock, or any other securities that are convertible to common stock unless such conversion rights are at a fixed ratio or a fixed monetary price (Note 9). On August 1, 2016, the Company closed a private offering of Series B-2 Preferred Stock. The Company sold a total of 500,000 shares of Series B-2 Preferred Stock to accredited investors at an offering price of $0.25 per share, for an aggregate subscription price of $125,000. No underwriting discounts or commissions have been paid in connection with the sale of the Series B-2 Preferred Stock . Effective October 13, 2016, the Company amended the Certificate of Designation for its Series B-2 Preferred Stock to increase the number of shares of the Series B-2 Preferred Stock from 6,000,000 to 10,000,000 shares. There were no other changes to the terms of the Company’s Series B-2 Preferred Stock. On October 27, 2016, the Company closed a private offering of Series B-2 Preferred Stock. The Company sold a total of 6,000,000 shares of Series B-2 Preferred Stock to accredited investors at an offering price of $0.25 per share, for an aggregate subscription price of $1,500,000. No underwriting discounts or commissions have been or will be paid in connection with the sale of the Series B-2 Preferred Stock. On January 26, 2017, the Company closed a private offering of Series B-2 Preferred Stock. The Company sold a total of 100,000 shares of Series B-2 Preferred Stock to accredited investors at an offering price of $0.25 per share, for an aggregate subscription price of $25,000. No underwriting discounts or commissions have been or will be paid in connection with the sale of the Series B-2 Preferred Stock. As of March 31, 2018, and December 31, 2017, 8,684,000 shares, respectively, of Series B-2 Preferred Stock are issued and outstanding. On February 29, 2016, the Company’s Board of Directors voted to designate a class of preferred stock entitled Series B-1 Convertible Preferred Stock (“Series B-1 Preferred Stock”), consisting of up to thirty-two million (32,000,000) shares, par value $0.0001. On June 30, 2016, pursuant to the MSA summarized in Note 4, the Company’s Board of Directors approved a Certificate of Designation authorizing 1,733,334 shares of new Series C Preferred Stock, par value $0.0001. The Series C Preferred Stock ranks equally with our common stock with respect to liquidation rights and is convertible to common stock on a 1 for 1 basis. The conversion rights of holders of the Series C Preferred Stock are limited such that no holder may convert any shares of preferred stock to the extent that such holder, immediately following the conversion, would own in excess of 4.99% of our issued and outstanding shares of common stock. This limitation may be increased to 9.99% upon 61 days written notice by a holder of the Series C Preferred Stock to the Company. On June 30, 2016, the Company issued 1,733,334 shares of Series C Preferred Stock to PoC Capital valued at $511,334 as prepaid expenses on the balance sheet. As of March 31, 2018, and December 31, 2017, 1,733,334 shares of Series C Preferred Stock are issued and outstanding On March 1, 2018, The Company’s Board of Directors voted to designate a class of preferred stock entitled Series D Convertible Preferred Stock (“Series D Preferred Stock”) consisting of up to 200 shares, par value $0.0001 to offer for sale to certain accredited investors, including affiliates of the Company (collectively the “Investors”), with a maximum offering amount of $2,200,000 (the “Offering”). Pursuant to the terms of the Series D Subscription Agreement, immediately following the consummation of an offering of the Company’s Common Stock for which the gross proceeds of the offering exceed $5,000,000 (a “Qualified Offering”), each share of Series D automatically converts into 200,000 shares of Common Stock (the “Conversion Shares”). The Company agreed that within 45 days of a Qualified Offering the Company shall file a registration statement with the SEC registering the Conversion Shares for resale by the Investors. On March 28, 2018, the Company issued 45 shares of Series D Preferred Stock, of which 45 remain outstanding as of March 31, 2018. T he Company received $550,000 in connection with the Offering including $50,000 in cash for 5 shares of Series D Preferred Stock and $500,000 in debt re-payment for 40 shares of Series D Preferred Stock. Common Stock The Company’s authorized common stock consists of 200,000,000 shares with a par value of $0.0001. The Company automatically converted all outstanding shares of Series A Preferred Stock to common stock on March 31, 2016. As a result, 4,508,042 shares of common stock were issued in exchange of 4,508,042 shares of Series A Preferred Stock. Certain shareholders converted their shares of Series B-1 Preferred Stock to common stock on June 15, 2016. As a result, 27,200,000 shares of common stock were issued in exchange of 27,200,000 shares of Series B-1 Preferred Stock. On June 30, 2016, pursuant to the MSA summarized in Note 4, the Company issued 1,600,000 shares of common stock to PoC Capital valued at $480,000. P ursuant to a services agreement with IRTH Communications, LLC (“IRTH”) in which IRTH agreed to perform certain investor relations, financial communications, and strategic consulting services, the Company issued $100,000 of our common stock, or 141,844 shares, to IRTH on November 18, 2016 in partial consideration for those services. On December 13, 2016, the Company issued an additional 500,000 shares of common stock to IRTH pursuant to an addendum to the services agreement and in consideration of certain additional services, including telemarketing and investor outreach services, to be provided by IRTH. pursuant to an addendum to a services agreement On February 9, 2018, the Company issued 1,718,675 shares of its common stock to settle $85,934 of outstanding legal expenses and accounted for a debt settlement loss of $257,801. There were 36,790,537 and 35,071,862 common shares issued and outstanding at March 31, 2018 and December 31, 20176, respectively. Warrants and Options On June 30, 2016, pursuant to the MSA summarized in Note 4, the Company issued warrants to purchase 1,666,667 common stock shares for a price of $0.60 per share exercisable for three years to PoC Capital. On March 14, 2018, the Board of Directors of the Company approved the issuance of up to 5,045,404 two-year Warrants to purchase shares of the Company’s Common Stock to the holders of the Company’s Series B 2 Preferred Stock. The Warrants are exercisable at of $0.05 per share. Each B-2 Holder shall be issued Warrants to purchase 0.581 shares of Common Stock for each share of Series B-2 Preferred Stock held by the B-2 Holder. On March 30, 2018, 3,486,000 warrants were issued There were 5,152,667 and 1,666,667 warrants outstanding at March 31, 2018 and December 31, 2017, respectively.

CONVERTIBLE LOAN NOTES

CONVERTIBLE LOAN NOTES	3 Months Ended
	Mar. 31, 2018
Convertible Loan Notes
CONVERTIBLE LOAN NOTES	On August 14, 2017, the Company entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) under which it agreed to sell an 8% convertible promissory note in an aggregate principal amount of $110,000.00 (the “Initial Note”) to Morningview Financial, LLC (“Morningview”). The net proceeds of the sale of this Initial Note, after deducting the Morningview’s discount and the expenses payable by the Company, were $87,000. The Note will mature on August 14, 2018. At any time on or after the earlier of (i) the date on which the Registration Statement (defined below) has become effective or (ii) 170th calendar day after the issue date of the Initial Note, Morningview has the option to convert all or any part of the outstanding and unpaid principal amount and accrued and unpaid interest of the Initial Note into shares of the Company’s common stock at the Conversion Price. The “Conversion Price” will be the lesser of (i) $0.25 and (ii) 60% of the average of the three lowest trading prices of the Company’s common stock during the twenty-day trading period prior to the conversion. The Conversion Price is subject to further reduction upon certain events specified in the Initial Note. On December 18, 2017, the Company further amended the Initial Note to (i) increase the aggregate principal amount of the Initial Note to $115,000 and (ii) extend the date by which the Company is required to cause the Registration Statement to become effective to January 4, 2018. On January 4, 2018, the Company further amended the Initial Note to (i) increase the aggregate principal amount of the Initial Note to $125,000 and (ii) extend the date by which the Company is required to cause the Registration Statement to become effective to February 1, 2018. During March 2018, The Company paid $25,000 towards principal of the Initial Note. On May 7, 2018, the Company further amended the Initial Note to (i) increase the aggregate principal amount of the Initial Note to $121,481 and (ii) extend the date by which the Company is required to cause the Registration Statement to become effective to May 31, 2018. On September 27, 2017, pursuant to Securities Purchase Agreement, the Company issued an 8% convertible promissory note (the “Additional Note,” and together with the Initial Note, the “Notes”) in an aggregate principal amount of $27,500 to Morningview, with terms and conditions identical to the initial Note. The net proceeds of this sale of the Initial Note, after deducting Morningview’s discount and the expenses payable by the Company, were $21,750. The terms of the Notes require the Company to have a registration statement permitting Morningview to resell the shares of the Company’s common stock into which the Notes may be converted (the “Registration Statement”) declared effective by the SEC within 120 days of the issue date of the Initial Note. On December 18, 2017, the Company further amended the Initial Note (the "Second Amendment to Initial Note") to (i) increase the aggregate principal amount of the Initial Note to $115,000 and (ii) extend the date by which the Company is required to cause the Registration Statement to become effective to January 4, 2018. On December 29, 2017, the Company entered into a Securities Purchase Agreement, dated as of December 21, 2017 (the "EMA Securities Purchase Agreement"), under which it agreed to sell a 12% convertible promissory note in an aggregate principal amount of $65,000 (the "EMA Note") to EMA Financial, LLC ("EMA"). The net proceeds of the sale of the EMA Note, after deducting the expenses payable by the Company, were $62,400 The EMA Note and the shares of the Company's common stock issuable upon conversion of the EMA Note have not been, and will not be, registered under the Securities Act. The Company offered and sold the EMA Note to EMA in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. The EMA Note is dated December 21, 2017 and provides the terms and conditions of the Company's obligations to EMA. The EMA Note will bear interest at a rate of 12% per annum and will mature on December 21, 2018. At any time after the 180th calendar day after the issue date of the EMA Note, EMA has the option to convert all or any part of the outstanding and unpaid principal amount and accrued and unpaid interest of the EMA Note into shares of the Company's common stock at the EMA Conversion Price. The "EMA Conversion Price" will be the lesser of (i) the closing sale price of the Company's common stock on the trading day immediately preceding the date of conversion and (ii) 60% of either the lowest sale price of the Company's common stock during the twenty-day trading period prior to the conversion, or the closing bid price, whichever is lower. The EMA Conversion Price is subject to further reduction upon certain events specified in the EMA Note. On March 28, 2018, the Company amended the EMA Note to increase the aggregate principal amount of the Initial Note to $71,500 and adjust the conversion price to align the EMA Note with more favorable terms in the Crossover Note dated March 16, 2018 On December 29, 2017, the Company entered into a Securities Purchase Agreement, dated as of December 26, 2017 (the "Auctus Securities Purchase Agreement"), under which it agreed to sell a 12% convertible promissory note in an aggregate principal amount of $125,000 (the "Auctus Note") to Auctus Fund, LLC ("Auctus"). The net proceeds of the sale of the Auctus Note, after deducting the expenses payable by the Company, are expected to be $112,250. The Auctus Note and the shares of the Company's common stock issuable upon conversion of the Auctus Note have not been, and will not be, registered under the Securities Act. The Company offered and sold the Auctus Note to Auctus in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act. The Auctus Note is dated December 26, 2017 and provides the terms and conditions of the Company's obligations to Auctus. The Auctus Note will bear interest at a rate of 12% per annum and will mature on September 26, 2018. At any time after the 180th calendar day after the issue date of the Auctus Note, Auctus has the option to convert all or any part of the outstanding and unpaid principal amount and accrued and unpaid interest of the Auctus Note into shares of the Company's common stock at the Auctus Conversion Price. The "Auctus Conversion Price" will be the lesser of (i) the lowest trading price of the Company's common stock during the twenty-five-day trading period prior to the issue date of the Auctus Note and (ii) 50% of the lowest trading price of the Company's common stock during the twenty-five-day trading period prior to the conversion. The Auctus Conversion Price is subject to further reduction upon certain events specified in the Auctus Note. On March 22, 2018, the Company entered into a securities purchase agreement, effective March 16, 2018, with an investor pursuant to which the Company issued and sold a convertible promissory note (the “Crossover Note”) to the investor in the aggregate principal amount of $58,500 March 31, December 31, 2018 2017 Convertible Loan Notes Principal Amount $ 382,500 $ 332,500 Less unamortized debt discount and debt issuance costs (241,075 ) (274,704 ) Current debt less unamortized debt discount and debt issuance costs $ 141,425 $ 57,796 During the three month period ended March 31, 2018, the Company recognized $77,024 for the amortization of debt discounts and $22,054 for the amortization of deferred issuance costs for the Notes issued on August 14, 2017, September 27, 2017, December 21, 2017, December 26, 2017, and March 16, 2018.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	3 Months Ended
	Mar. 31, 2018
Fair Value Measurement
FAIR VALUE MEASUREMENT	The guidance regarding fair value measurements prioritizes the inputs used in measuring fair value and establishes a three-tier value hierarchy that distinguishes among the following: ● Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. ● Level 2—Valuations based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and models for which all significant inputs are observable, either directly or indirectly. ● Level 3—Valuations based on inputs that are unobservable and significant to the overall fair value measurement. Liabilities are classified based on the lowest level of input that is significant to the fair value measurements. The Company has not transferred any liabilities between the classification levels. The Company estimates fair values of derivative liabilities utilizing Level 3 inputs. The Company uses the Monte Carlo valuation model for derivatives which embodies all of the requisite assumptions (including trading volatility, remaining term to maturity, market price, strike price, risk-free rates) necessary to determine fair value of these instruments. The Company’s derivative liabilities are marked-to-market with the changes in fair value recorded as a component of change in fair value of derivative liabilities in the Company’s condensed consolidated statements of operations. Estimating fair values of derivative liabilities requires the use of significant and subjective inputs that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. The Company identified financial instruments, the conversion options embedded in the Notes discussed in Note 6, which require liability presentation at fair value. Each of these instruments provide the holder with the right to convert into common stock at a fixed discount market, subject to a cap on the conversion price. These clauses cause uncertainty as to the number of shares issuable upon conversion of convertible debt and accordingly require liability presentation on the balance sheet in accordance with US GAAP. The fair value of the Initial Note on March 31, 2018 and on December 31, 2017 was estimated using the Monte Carlo valuation model. This method of valuation involves using inputs such as the fair value of the Company’s common stock, stock price volatility, and risk–free interest rates. Due to the nature of these inputs, the valuation of the Initial Note is considered a Level 3 measurement. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 85.79 % 333.89 % Risk-free interest rate 1.73 % 1.31 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the Initial Note was adjusted to fair market value of $95,000 and $264,000 as of March 31, 2018 and December 31, 2017. The fair value of the Additional Note on March 31, 2018 and on December 31, 2017 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 124.11 % 326.65 % Risk-free interest rate 1.73 % 1.31 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the Additional Note was adjusted to fair market value of $28,000 and 63,000 as of March 31, 2018 and December 31, 2017. The fair value of the EMA note on March 31, 2018 and on December 31, 2017 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 204.8 % 303.97 % Risk-free interest rate 1.93 % 1.76 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the EMA Note was adjusted to fair market value of $102,000 and $169,000 as of March 31, 2018 and December 31, 2017. The fair value of the Auctus Note on March 31, 2018 and on December 31, 2017 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 126.56 % 326.65 % Risk-free interest rate 1.93 % 1.53 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the Auctus Note was adjusted to fair market value of $200,000 and $434,000 as of March 31, 2018 and December 31, 2017. The fair value of the Crossover Note on the date of issuance and on March 31, 2018 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 16, 2018 (issuance date) and March 31, 2018: March 31, 2018 March 16, 2018 Volatility 180.53 % 286.66 % Risk-free interest rate 1.93 % 2.08 % Common stock closing price $ 0.12 $ 0.12 Based on these assumptions, the Company recorded a $94,000 derivative liability on the issuance date of the Crossover Note. The initial fair values of the embedded debt derivative $48,000 was allocated as a debt discount with the remainder $43,350 was charged to current period operations as derivative expenses. The derivative liability for the Crossover Note was adjusted to fair market value of $119,000 as of March 31, 2018 The Company recorded change in fair value of the derivative liability on debt to market resulting in non-cash, non-operating gain of $480,000 and $0 for the three month periods ended March 31, 2018 and 2017, respectively, under derivative expenses. During the three months ended March 31, 2018, the Company accrued $9,365 as interest expenses on the above convertible notes. The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities as of December 31, 2016 and December 31, 2017: Derivative Liability (convertible notes) Balance, December 31, 2017 $ 930,000 Initial fair value at note issuances 94,000 Extinguishment of derivative liability - Mark-to-market at March 31, 2018 (480,000 ) Balance, March 31, 2018 $ 544,000 Net gain for the year included in earnings relating to the liabilities held at March 31, 2018 $ 420,150

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Legal Matters In the ordinary course of business, we enter into agreements with third parties that include indemnification provisions which, in our judgment, are normal and customary for companies in our industry sector. These agreements are typically with business partners, clinical sites, and suppliers. Pursuant to these agreements, we generally agree to indemnify, hold harmless, and reimburse indemnified parties for losses suffered or incurred by the indemnified parties with respect to our product candidates, use of such product candidates, or other actions taken or omitted by us. The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited. We have not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. As a result, the estimated fair value of liabilities relating to these provisions is minimal. Accordingly, we have no liabilities recorded for these provisions as of March 31, 2018, and December 31, 2017. Per clause 7, No Variable Rate Convertible Securities, in the subscription agreements of Series B-2 Preferred Stock , On January 20, 2017, Robert F. Parker (the “petitioner”) filed a petition in the Supreme Court of the State of New York, County of New York (the “Court”), naming, among others, the Company and Ezra Green, a former shareholder, director and officer of the Company, as respondents. The petition was received by the Company on February 7, 2017. The petitioner previously had a judgment entered in his favor and against Clear Skies Solar, Inc. and its wholly owned subsidiary Clear Skies Group, Inc. (together, “Clear Skies”), in the amount of $331,132 with interest accruing at a rate of 9% per year from November 21, 2014 (the “Judgment”). The Judgment remains outstanding. The petition alleged, among other things, that through a series of allegedly fraudulent conveyances occurring before the Judgment was entered against Clear Skies, the major assets of Clear Skies, which were comprised of various patents, were transferred from Clear Skies to Carbon 612 Corporation (“Carbon”), and from Clear Skies and Carbon to the Company. The petition further alleged, among other things, that the transfers were without fair consideration and rendered Clear Skies, the judgment-debtor, insolvent. The petitioner sought the entry of a judgment against the Company and the other respondents in the amount of the outstanding Judgment, with all accrued interest, reasonable attorneys’ fees and costs and disbursements. The parties reached an agreement on settlement and the Court entered the parties’ joint stipulation of discontinuance with prejudice on September 6, 2017. The settlement agreement requires co-defendant Ezra Green to make an initial payment with subsequent, additional payments over time. The Company has agreed, in exchange for the dismissal of all claims with prejudice, to pay up to $20,000, at $1,000 per month beginning in January 2018 at the earliest, if co-defendant Ezra Green defaults on his subsequent payment obligations under the terms of the settlement agreement. The Company’s liability is capped at $20,000 in total, memorialized in a confession of judgment note, plus statutory interest if the plaintiff must file suit against the Company to collect on the confession of judgment note. In management’s opinion, we have incurred a probable loss as set forth by accounting principles generally accepted in the United States, estimated the loss to be $20,000, and recorded the appropriate accounting entries which are reflected in our financial statements.

NOTE PURCHASE AGREEMENTS

NOTE PURCHASE AGREEMENTS	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
NOTE PURCHASE AGREEMENTS	On March 22, 2018, the Company entered into two note purchase agreements under which the Company issued two convertible promissory notes with a total principal amount of $100,000. The Notes bear interest at a rate of 5% per annum and will mature on February 1, 2023. If a qualified financing from which at least $5 million of gross proceeds are raised occurs prior to the maturity date, then the outstanding principal balance of the notes, together with all accrued and unpaid interest thereon, shall be automatically converted into a number of shares of the Company’s common stock at $0.05 per Share. The Notes offers registration rights wherein the Company agrees that within 45 days of a Qualified Offering, prior to the Maturity Date, the Company shall file a registration statement with the SEC registering for resale the shares of Company’s common stock into which the Notes are convertible. During the three months ended March 31, 2018, the Company accrued $151 as interest expenses on the above convertible notes.

RELATED PARTY CONSIDERATIONS

RELATED PARTY CONSIDERATIONS	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
RELATED PARTY CONSIDERATIONS	Some of the officers and directors of the Company are involved in other business activities and may, in the future, become involved in other business opportunities that become available. They may face a conflict in selecting between the Company and other business interests. We have not formulated a policy for the resolution of such conflicts. On November 20, 2017, Dr. Dimitrov provided a notice dated November 21, 2017 to the Company stating that he was resigning from the Board, effective immediately. Dr. Dimitrov indicated that his resignation from the Board was based on the deteriorating relationship between the Company and Digital Diagnostics over the non-payment of fees owed by the Company pursuant to the licensing agreement between the Company and Digital Diagnostics. Dr. Dimitrov currently serves as the President of Digital Diagnostics, and the Company has licensed the right to develop, produce and commercialize certain diagnostic products, including the FibriLyzer and MatriLyzer, utilizing certain intellectual property rights owned or licensed by Digital Diagnostics. Dr. Dimitrov believes that, in light of these concerns, his role as both a Director of the Company and the President of Digital Diagnostics creates a conflict of interest and has decided to focus his time and energy on doing what is best for the shareholders of Digital Diagnostics. As of March 31, 2018 and December 31, 2017, $0 and $126,032, respectively, are shown as accrual under accounts payable. The Company also accrued interest at 3% over the prime rate, per the Licensing Agreement, of $9,802 for the remaining balance due as of December 31, 2017. In the first quarter of 2018, the Company paid the entire balance due to Digital Diagnostics. For the three month periods ended March 31, 2018 and 2017, $75,000 was recognized in Research and Development expenses for consulting provided by Dr. Dimitrov. As of March 31, 2018 and December 31, 2017, $350,000 and $275,000, respectively, are shown as accrual under accounts payable. During the three month period ended March 31, 2018 and 2017, $0 and $51,096, respectively was paid. On June 28, 2017, the Company issued to two of the Company’s executive officers a promissory note in the principal amount up to $100,000, which amount may be drawn upon by the Company as bridge financing for general working capital purposes. The promissory note accrues interest at a rate of 8.0% per annum and matures on the earlier of (i) one (1) year from the date of the promissory note, and (ii) the closing the sale of the Company’s securities in a single transaction or a series of related transactions from which at least $500,000 of gross proceeds are raised. As of March 31, 2018, the Company has drawn $48,000 on the promissory note and recorded as a note payable. During the three months ended March 31, 2018, the Company accrued $947 as interest expense on the promissory notes. Total interest payable as of March 31, 2018 is $2,914.

SIGNIFICANT ACCOUNTING POLICI16

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	The unaudited interim financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. Certain information and note disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading.
Cash and Cash Equivalents	We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The carrying value of those investments approximates their fair market value due to their short maturity and liquidity. Cash and cash equivalents include cash on hand and amounts on deposit with financial institutions, which amounts may at times exceed federally insured limits. We have not experienced any losses on such accounts and we do not believe we are exposed to any significant credit risk. Cash and cash equivalents were $38,935 and $161,215 at March 31, 2018 and December 31, 2017, respectively.
Derivatives and Hedging- Contracts in Entity's Own Equity	In accordance with the provisions of ASC 815 “Derivatives and Hedging” the embedded beneficial conversion features in the Convertible Loan Notes (Note 6) are not considered to be indexed to our stock. As a result, these are required to be accounted for as a derivative financial liability and have been recognized as a liability on the balance sheets. The fair value of the derivative financial liability is determined using the Monte Carlo valuation model and is affected by changes in inputs to that model including the Company’s stock price, expected stock price volatility, the contractual term, and the risk-free interest rate. The derivative financial liability is subject to re-measurement at each balance sheet date and any changes in fair value is recognized as a component in other income (expenses) (Note 7).
Revenue Recognition	We recognize revenue when it is realized or realizable and estimable in accordance with ASC 605, “ Revenue Recognition.
Research and Development Expenses	We follow ASC 730-10, “ Research and Development,”
Related Parties	We follow ASC 850, “ Related Party Disclosures
Earnings per Share	We compute basic and diluted earnings per share amounts in accordance with ASC Topic 260, “ Earnings per Share As of March 31, 2018, the Company had 14,884,046 potential shares and warrants that were excluded from our calculation of diluted earnings per share because their effect would have been anti-dilutive. As of December 31, 2017, the Company had 14,884,001 shares that were considered to be anti-dilutive.
Comprehensive Income (Loss)	Comprehensive income (loss) is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive income (loss) in the financial statements in the period in which they are recognized. Net income (loss) and other comprehensive income (loss), are reported net of their related tax effect, to arrive at comprehensive income (loss). The Company had no other comprehensive income or loss for the three ended March 31, 2018 and 2017, respectively.
Recent Accounting Pronouncements	We have reviewed the FASB issued ASU accounting pronouncements and interpretations thereof that have effectiveness dates during the periods reported and in future periods. We have carefully considered the new pronouncements that alter previous generally accepted accounting principles and do not believe that any new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term. The applicability of any standard is subject to the formal review of the Company’s financial management.

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Measurement Tables
Fair value assumptions	The fair value of the Initial Note on March 31, 2018 and on December 31, 2017 was estimated using the Monte Carlo valuation model. This method of valuation involves using inputs such as the fair value of the Company’s common stock, stock price volatility, and risk–free interest rates. Due to the nature of these inputs, the valuation of the Initial Note is considered a Level 3 measurement. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 85.79 % 333.89 % Risk-free interest rate 1.73 % 1.31 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the Initial Note was adjusted to fair market value of $95,000 and $264,000 as of March 31, 2018 and December 31, 2017. The fair value of the Additional Note on March 31, 2018 and on December 31, 2017 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 124.11 % 326.65 % Risk-free interest rate 1.73 % 1.31 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the Additional Note was adjusted to fair market value of $28,000 and 63,000 as of March 31, 2018 and December 31, 2017. The fair value of the EMA note on March 31, 2018 and on December 31, 2017 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 204.8 % 303.97 % Risk-free interest rate 1.93 % 1.76 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the EMA Note was adjusted to fair market value of $102,000 and $169,000 as of March 31, 2018 and December 31, 2017. The fair value of the Auctus Note on March 31, 2018 and on December 31, 2017 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 Volatility 126.56 % 326.65 % Risk-free interest rate 1.93 % 1.53 % Common stock closing price $ 0.12 $ 0.20 The derivative liability for the Auctus Note was adjusted to fair market value of $200,000 and $434,000 as of March 31, 2018 and December 31, 2017. The fair value of the Crossover Note on the date of issuance and on March 31, 2018 was also estimated using the Monte Carlo valuation model. The following assumptions were used on March 16, 2018 (issuance date) and March 31, 2018: March 31, 2018 March 16, 2018 Volatility 180.53 % 286.66 % Risk-free interest rate 1.93 % 2.08 % Common stock closing price $ 0.12 $ 0.12
Summary of changes in fair value	Derivative Liability (convertible notes) Balance, December 31, 2017 $ 930,000 Initial fair value at note issuances 94,000 Extinguishment of derivative liability - Mark-to-market at March 31, 2018 (480,000 ) Balance, March 31, 2018 $ 544,000 Net gain for the year included in earnings relating to the liabilities held at March 31, 2018 $ 420,150

BUSINESS DESCRIPTION AND GOIN18

BUSINESS DESCRIPTION AND GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of incorporation	Jan. 18, 2008
State of incorporation	Nevada
Cash and cash equivalents	$ 38,935	$ 161,215	$ 296,907
Current Fiscal Year End Date	--12-31

SIGNIFICANT ACCOUNTING POLICI19

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cash and cash equivalents	$ 38,935	$ 296,907	$ 161,215
Research and development	75,000	$ 88,210
Licensing Agreement	$ 134,802		$ 75,000	$ 50,000
Potentially dilutive shares and warrants	14,884,046		14,884,001

AGREEMENTS (Details Narrative)

AGREEMENTS (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Agreements Details Narrative
Licensing Agreement	$ 134,802	$ 75,000	$ 50,000
Legal expenses			$ 21,659
Licensing fees payable	$ 0	$ 9,802

EQUITY TRANSACTIONS (Details Na

EQUITY TRANSACTIONS (Details Narrative) - $ / shares	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Common stock, shares authorized		200,000,000
Common stock, par value per share		$ .0001
Common stock, shares issued		36,790,537	35,071,862
Common stock, shares outstanding		36,790,537	35,071,862
Warrants outstanding		5,152,667	1,666,667
Series C Preferred Stock
Preferred stock, shares authorized		1,733,334
Preferred stock, par value per share		$ .0001
Preferred stock, shares issued		1,733,334
Preferred stock, shares outstanding		1,733,334
Series A Preferred Stock
Preferred stock, shares authorized		50,000,000
Preferred stock, par value per share		$ 0.0001
Preferred stock, shares issued	0	4,558,042
Preferred stock, shares outstanding	0	0
Series B-2 Preferred Stock
Preferred stock, shares authorized		10,000,000
Preferred stock, par value per share		$ .0001
Preferred stock, shares issued		8,684,000
Preferred stock, shares outstanding		8,684,000
Series B-1 Preferred Stock
Preferred stock, shares authorized		32,000,000
Preferred stock, par value per share		$ .0001
Preferred stock, shares issued		2,800,000
Preferred stock, shares outstanding		2,800,000

CONVERTIBLE LOAN NOTES (Details

CONVERTIBLE LOAN NOTES (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Convertible Loan Notes Details
Principal amount	$ 382,500	$ 332,500
Less unamortized debt discount and debt issuance costs	(241,075)	(274,704)
Current debt less unamortized debt discount and debt issuance costs	$ 141,425	$ 57,796

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - Level 3 - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2018
Initial Note [Member]
Volatility	85.79%	333.89%
Risk-free interest rate	1.73%	1.31%
Common stock closing price	$ .12	$ .20
Additional Note [Member]
Volatility	24.11%	326.65%
Risk-free interest rate	1.73%	13.10%
Common stock closing price	$ .12	$ .20
EMA Note [Member]
Volatility	204.80%	303.97%
Risk-free interest rate	1.93%	1.76%
Common stock closing price	$ .12	$ .20
Auctus Note [Member]
Volatility	126.56%	326.65%
Risk-free interest rate	1.93%	1.53%
Common stock closing price	$ .12	$ .20
Crossover Note [Member]
Volatility	180.53%	286.66%
Risk-free interest rate	1.93%	20.80%
Common stock closing price		$ .12	$ .12

FAIR VALUE MEASUREMENT (Detai24

FAIR VALUE MEASUREMENT (Details 1)	3 Months Ended
	Mar. 31, 2018USD ($)
Fair Value Measurement Details 1
Beginning balance	$ 930,000
Initial fair value at note issuances	94,000
Extinguishment of derivative liability	0
Mark-to-market	(480,000)
Ending balance	544,000
Net loss for the period included in earnings relating to the liabilities held at September 30, 2017	$ 420,150

RELATED PARTY CONSIDERATIONS (D

RELATED PARTY CONSIDERATIONS (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Research and development	$ 75,000	$ 88,210
Accounts payable			$ 0
Licensing Agreement	134,802		75,000	$ 50,000
Former Board Member [Member]
Accounts payable	0		126,032
Former Board Member 1 [Member]
Research and development	0		51,096
Accounts payable	350,000		$ 275
Former Board Member 2 [Member]
Accounts payable	$ 2,914