Nascent Biotech (NBIO) 10-K 29 Jun 18 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2018	Jun. 29, 2018	Sep. 30, 2017
Document And Entity Information
Entity Registrant Name	NASCENT BIOTECH INC.
Entity Central Index Key	1,622,057
Document Type	10-K
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
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		28,543,295
Entity Public Float			$ 6,795,322
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,018

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 116,994	$ 129,806
Total current assets	116,994	129,806
Materials held for research and development with alternative future use		769,954
Total assets	116,994	899,760
Current liabilities:
Accounts payable	203,373	151,653
License agreement liability		14,000
Derivate liability		346
Total current liabilities	203,373	165,999
Total liabilities	203,373	165,999
Stockholders’ equity:
Preferred stock, $0.001 par value, 10,000,000 authorized, none issued and outstanding
Common stock, $0.001 par value, 100,000,000 authorized, 27,753,365 and 23,292,298 issued and outstanding, respectively	27,754	23,292
Additional paid-in capital	11,350,456	9,953,759
Accumulated deficit	(11,464,589)	(9,243,290)
Total stockholders’ equity (deficit)	(86,379)	733,761
Total liabilities and stockholder’ equity	$ 116,994	$ 899,760

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Stockholders' equity (deficit):
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	10,000,000	10,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	27,753,365	23,292,298
Common stock, outstanding shares	27,753,365	23,292,298

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statements Of Operations
Revenue		$ 3,000,000
Operating expenses:
General and administrative expense	1,027,141	1,565,301
Gain on settlement of accounts payable		(479,648)
Research and development	1,194,629	486,925
Income (loss) from operations	(2,221,770)	1,427,422
Other income (expense):
Interest income	125	141
Gain on change in fair value of derivative liabilities	346	3,503
Interest expense		(54,129)
Total other expense	471	(50,485)
Net income (loss) before income taxes	(2,221,299)	1,376,937
Income tax		240,000
Net income (loss)	$ (2,221,589)	$ 1,136,937
Net income (loss) per share, basic	$ (0.09)	$ 0.05
Net income (loss) per share, diluted	$ (0.09)	$ 0.05
Weighted average number of shares outstanding, basic	25,883,774	21,798,985
Weighted average number of shares outstanding, diluted	25,883,774	23,678,346

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance, Shares at Mar. 31, 2016	21,617,565
Beginning Balance, Amount at Mar. 31, 2016	$ 21,617	$ 8,789,831	$ (10,380,227)	$ (1,568,779)
Common stock and warrants issued for cash, Shares	928,711
Common stock and warrants issued for cash, Amount	$ 929	324,121		325,050
Common stock issued for accounts payable, Shares	351,487
Common stock issued for accounts payable, Amount	$ 351	145,169		145,520
Common stock issued for warrant exercise, Shares	25,000
Common stock issued for warrant exercise, Amount	$ 25	225		250
Common stock issued for services, Shares	369,535
Common stock issued for services, Amount	$ 370	117,967		118,337
Option expense		576,446		576,446
Net income			1,136,937	1,136,937
Ending Balance Shares at Mar. 31, 2017	23,292,298
Ending Balance Amount at Mar. 31, 2017	$ 23,292	9,953,759	(9,243,290)	733,761
Common stock and warrants issued for cash, Shares	3,331,598
Common stock and warrants issued for cash, Amount	$ 3,332	1,162,731		1,166,063
Common stock issued for warrant exercise, Shares	514,361
Common stock issued for warrant exercise, Amount	$ 515	44,991		45,506
Common stock issued for services, Shares	45,000
Common stock issued for services, Amount	$ 45	7,275		7,320
Common stock issued to related parties for service, Shares	570,108
Common stock issued to related parties for service, Amount	$ 570	141,545		142,115
Option expense		40,155		40,155
Net income			(2,221,299)	(2,221,589)
Ending Balance Shares at Mar. 31, 2018	27,753,365
Ending Balance Amount at Mar. 31, 2018	$ 27,754	$ 11,350,456	$ (11,464,589)	$ (86,379)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net income (loss)	$ (2,221,589)	$ 1,136,937
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	149,435	118,337
Option expense	40,155	576,446
Change in fair value of derivative liability	(346)	(3,503)
Gain on settlement of accounts payable		(479,648)
Changes in operating assets and liabilities:
Material held for research and development with alternative future use	769,954	58,010
Accounts payable and accrued expenses	51,720	(1,562,423)
License agreement liability	(14,000)	(13,000)
Deferred revenue		(600,000)
Net cash used in operating activities	(1,224,381)	(768,844)
Cash flows from financing activities:
Proceeds from sale of common stock and warrants	1,166,063	325,050
Common stock issued for warrants exercised	45,506	250
Net cash provided by financing activities	1,211,569	325,300
Net decrease in cash	(12,812)	(443,544)
Cash – beginning of year	129,806	573,350
Cash – end of year	116,994	129,806
SUPPLEMENT DISCLOSURES:
Interest paid
Income taxes paid
NON-CASH TRANSACTIONS
Common stock issued for settlement of accounts payable		$ 145,520

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS	Nascent Biotech, Inc (“Nascent “the Company”) was incorporated on March 3, 2014 under the laws of the State of Nevada. On July 15, 2014 Biotech entered into a reverse merger with Jin-En Group International Holding Company (Jin-En). Jin-En issued 7,500,200 shares of its common stock for all the outstanding shares of Nascent Biotech, Inc. In addition, Jin-En cancelled 15,000,000 shares of its common stock. Prior to the merger Jin-En had 22,829,400 shares outstanding. Jin-En changed its name to Nascent Biotech, Inc. Jin-En had $19,000 of net liabilities at the date of the merger. The net liabilities of Jin-En consisted of the following as of the date of the merger: Receivable from Biotech $ 60,000 Accounts payable (19,000 ) Convertible note (60,000 ) Net liabilities $ (19,000 ) The Company is actively developing its primary asset Pritumumab for the treatment of brain cancer and pancreatic cancer. Nascent is also actively researching other cancers that have a high probability of benefiting from the therapeutic effects of Pritumumab because they share a common target. Pritumumab has shown to be very effective at low doses in previous clinical studies in Japan. Nascent is a pre-clinical stage biopharmaceutical company that focuses on biologic drug candidates that are preparing for initial clinical testing for the treatment of brain and pancreatic cancer.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 2- SIGNIFICANT ACCOUNTING POLICIES	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. The Company has elected a fiscal year ending on March 31. Principles of Consolidation The accompanying consolidated financial statements include the accounts of Nascent Biotech, Inc. and its wholly-owned subsidiary Nascent Biologics, Inc. All intercompany accounts and transactions have been eliminated. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. Revenue Recognition Revenues may be earned through the sale of product license agreements for the production and sale of the product within specific countries or territories. Revenue may include license sales and future royalties. Revenue is recognized when (a) persuasive evidence of an arrangement exists, (b) delivery has occurred or services have been rendered, (c) the fee is fixed or determinable, and (d) collectability is reasonable assured. Stock-Based Compensation The Company accounts for stock-based compensation to employees and consultants in accordance with FASB ASC 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with FASB ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of stock-based payments using the Black Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances. Research and Development Expense Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development unless they meet specific criteria related to technical, market and financial feasibility, as determined by management, including but not limited to the establishment of a clearly defined future alternative use for the product, and the availability of adequate resources to complete the project. If all criteria are met, the costs are deferred and amortized over the expected useful life of the project, or expensed as research and development as the material are consumed, or written off if a product is abandoned. At March 31, 2018 and 2017, the Company had zero and $769,954 capitalized associated with materials held with a future alternative use. The cost of these materials is to be expensed as research and development as the materials are consumed or designated for usage. As the Company is preparing to begin clinical studies using a dose escalation method, it is not feasible to determine if the additional product will be needed for the brain cancer studies, thus the Company elected to expense the balance of the product in inventory as of March 31, 2018. Materials Held for Research and Development with Future Alternative Use The Company has incurred costs related to the production of 424 grams of Pritumumab a human mono-clinical antibody. Of the 424 grams, the materials designated for use in the brain cancer clinical trials have been expensed as of March 31, 2017 as research and development. The Company has determined the Pritumumab can be used in its current state in pancreatic, breast and lung cancer trials, none of which have commenced. Under the guidelines of ASC 730-10-25-2, Research and Development Property and Equipment Property and equipment is recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the expected useful life of the asset (3 to 5 years), beginning when the asset is available and ready for use. Expenditures associated with upgrades and enhancements that improve, add functionality, or otherwise extend the life of property and equipment are capitalized, while expenditures that do not, such as repairs and maintenance, are expensed as incurred. For the years ended March 31, 2018 and 2017, depreciation expense totaled zero, respectively. Impairment of Long-Lived Assets The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value. There was no impairment recognized during the years ended March 31, 2018 and 2017. Income Taxes Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for income taxes under the provisions of FASB ASC 740, Accounting for Income Taxes Basic and Diluted Net Income (Loss) per Share Basic net income (loss) per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. During the year ended March 31, 2018 the Company had a net loss so the options and warrants outstanding were not part the loss per share calculation as they would be antidilutive. Diluted income (loss) per share calculations includes the dilutive effect of warrants and options on the weighted average of the per share calculation. Diluted net income per share for the year ended March 31, 2017 is based on the weighted average of the shares of common stock outstanding of 21,798,985 plus the equivalent of shares in options and warrants that are eligible to be converted to common stock of 1,879,361 for a total of 23,678,346 shares used in the calculation per share income. Fair Value of Financial Instruments The Company’s financial instruments consist of cash and cash equivalents, accounts payable and accrued expenses and shareholder loans. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Financial assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized based upon a fair value hierarchy established by GAAP, which prioritizes the inputs used to measure fair value into the following levels: Level 1— Quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2— Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3— Inputs reflecting management’s best estimates and assumptions of what market participants would use in pricing assets or liabilities at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Financial assets and liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2018 and 2017: Level 1 Level 2 Level 3 Total As of March 31, 2017: Assets None $ - $ - $ - $ - Liabilities Derivative liabilities $ - $ - $ 346 $ 346 As of March 31, 2018: Assets None $ - $ - $ - $ - Liabilities Derivative liabilities $ - $ - $ -- $ -- On May 20, 2014 the Company granted 13,317 common stock warrants for services. The warrants vest immediately, are exercisable at $1.00 per share and expire on May 21, 2017. The Company determined that the warrants were not afforded equity classification because the warrants are not considered to be indexed to the Company's own stock due to the anti-dilution provision. Accordingly, the warrants are treated as a derivative liability and are carried at fair value. The Company estimated the fair value of these derivative warrants at each balance sheet date and the changes in fair value are recognized in earnings in the statement of operations under the caption "gain (loss) on change in fair value of derivative liability" until such time as the derivative warrants are exercised or expire. The Company used the Black-Scholes Option Pricing model to estimate the fair value of the derivative liability as of the date of issuance and as of March 31, 2017 using the following key inputs: market price of the Company's common stock $0.10 to $1.51 per share in 2016 and $0.40 in 2017, volatility of 250% and discount rate of 0.13%. The fair value of the derivative liability was determined to be $346 as of March 31, 2017 and due to the expiration of the warrants the ending balance of the derivative liability was zero as of March 31, 2018. The following table summarizes the change in the fair value of the derivative liabilities during the years ended March 31, 2018 and 2017: Fair value as of March 31, 2016 3,849 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (3,503 ) Fair value as of March 31, 2017 $ 346 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (346 ) Fair value as of March 31, 2018 $ -- Recent Accounting Pronouncements Nascent Biotech does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 3 - GOING CONCERN	The Company’s consolidated financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company, as shown in the accompanying consolidated balance sheets, has working capital deficit of $86,379 and an accumulated deficit of $11,464,589 as of March 31, 2018. The Company does not have a source of revenue to cover its operating costs. These factors raise substantial doubt about the company’s ability to continue as a going concern. The Company will engage in research and development activities that must be satisfied in cash secured through outside funding. The Company will offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 4 - RELATED PARTY TRANSACTIONS	On September 1, 2015, the Company entered into five year employment contracts with three of its officers and directors. Under the terms of the agreements the Company issued shares of common stock to the officers and directors equaling 11% of the outstanding shares of the Company as of the date of the contracts. As additional future shares are issued, the officers and directors are entitled to additional shares, so their aggregate ownership percentage remains at 11% of the outstanding shares of the Company. The following table sets forth the shares earned under these contracts from inception through year ended March 31, 2018: Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 358,678 1,387,588 Chief Financial Officer 617,346 215,197 832,543 Executive Vice President 617,346 215,197 832,543 Total 2,263,602 789,072 3,052,674 In addition, if the officers and directors are removed from the company they are entitled to receive a cash severance payment per annum for each year of the term of the contract less salary payments received to date of termination. The table below sets forth the annual salary and annual severance amounts per the contracts: Officer and Director Annual Compensation Paid for Fiscal Year Annual Severance per Contract if Terminated President $ 151,000 $ 250,000 Chief Financial Officer $ 104,000 $ 180,000 Executive Vice President $ 63,000 $ 140,000 Total $ 318,000 $ 570,000 During the year ended March 31, 2018 the Company issued 520,108 shares of common stock to three officers with a fair value of $131,115 for services and compensation. During the years ended March 31, 2018 and 2017 the Company paid a consultant and former officer of the Company $60,000 each year in consulting fees. During the year ended March 31, 2018 the Company issued 50,000 shares of common stock to a director with a fair value of $11,000.

LICENSE LIABILITY

LICENSE LIABILITY	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 5 - LICENSE LIABILITY	The Company holds a license from a third party for certain patents and related material related to Pritumumab. The license allows the Company to develop, manufacture and sell its product worldwide using the patents under the license agreement. The license was entered by Nascent Biologics, Inc. in March 2009 granting rights to the development and certain patents. The license was granted for total consideration of $2,000,000, to be paid in six installments of $300,000 plus a final payment of $200,000 on January 1, 2016. In addition, the license provides the licensor with a royalty of 2% on the sales of the developed product, up to $10,000,000 in sales, and thereafter, a royalty of 1% for all sales over $10,000,000. Prior to the acquisition by the Company, Nascent Biologics allowed 10 patents to expire based on their assessment of the patents and their value relating to the Company’s development of its product. Nascent Biologics and the licensor amended the license agreement requiring payments of $333,000 per year from January 1, 2012 through January 1, 2015. Such payments were not made by Nascent Biologics or the Company after the acquisition of Nascent Biologics. On September 21, 2015, the Company and the licensor amended their agreement where the licensor received a $30,000 cash payment and will receive $1,000 per month for 28 months plus a $5,000 additional payment on the 28th month. In addition, the licensor received 200,000 shares of the Company’s common stock, plus will receive 1% of net sales of the Company’s product up to $1,000,000 in royalties. The fair value of the stock issued was determined to be $150,000 and the transaction resulted in a gain on settlement of license agreement liability of $1,573,650 during the year ended March 31, 2016. The remaining liability of $14,000 was paid leaving the balance due of zero as of March 31, 2018. On October 12, 2017 the Company signed a consulting agreement with the former license holder. Under the terms of the agreement the Company, commencing February 1, 2018 and after the completion of the present agreement, will pay the consultant $1,000 per month for 24 months. In addition, the Company will pay the consultant an additional $24,000 during the term of the agreement at the Company’s discretion. In return, the consultant will forgive all royalty payments per the previous agreement dated September 21, 2015, plus provide consulting services to the Company as directed by the Company.

COMMON STOCK

COMMON STOCK	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 6 - COMMON STOCK	During the year ended March 31, 2017, the Company issued 25,000 shares of common stock for the exercise of 25,000 warrants at $0.01 per share During the year ended March 31, 2017 the Company issued 351,487 shares of common stock to one entity with a value of $145,520 for accounts payable. The issuance of the stock in the transaction created a gain on the settlement of accounts payable of $335,000. During the year ended March 31, 2017, the Company issued, 928,711 shares of common stock and 464,361 warrants exercisable at $0.05 to $0.10 per share to 10 individuals for $325,050 of cash. During the year ended March 31, 2017 the Company issued 203,571 shares of common stock to multiple entities with a value of $55,071 for services. During the year ended March 31, 2017 the Company issued 168,714 shares of common stock to 3 officers with a value of $63,266 for services and compensation. During the year ended March 31, 2018, the Company issued, 3,331,598 shares of common stock at $0.35 per share and 1,665,566 warrants exercisable at $0.05 to $0.10 per share to 17 individuals for $1,166,063 of cash. During the year ended March 31, 2018 the Company issued 514,361 shares of common stock to 11 individuals on the exercise of 514,361 warrants for cash. During the year ended March 31, 2018 the Company issued 520,108 shares of common stock to three officers and with a fair value of $131,115 for services and compensation. During the year ended March 31, 2018 the Company issued 50,000 shares of common stock to an independent director with a fair value of $11,000 for services. During the year ended March 31, 2018 the Company issued 45,000 shares of common stock to 3 individuals with a value of $7,320 for service.

OPTIONS

OPTIONS	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 7 - OPTIONS	The Company under its 2015 option plan issues options to various officers, directors and consultants. The options vest in equal annual installments over a five year period with the first 20% vested when the options were granted. All of the options are exercisable at a purchase price based on the last trading price of the Company’s common stock on the date of grant and have a term of 10 years. On April 1, 2016, the Company issued 40,000 options to a consultant under the 2015 option program. The options are exercisable into the Company’s common stock at $0.30 per share, have term of 10 years and vest in 5 equal annual installments with the first installment vesting on the date of grant. This award to a nonemployee is revalued at each reporting period until completion of services. On April 1, 2016, the Company entered a consulting agreement under which the consultant was granted 30,000 options on April 1, 2016. In addition, the consultant will be entitled to additional option grants of 30,000 options on April 1, 2017 and 40,000 options on April 1, 2018. The options are exercisable into the Company’s common stock at $0.30 per share, have term of 10 years and vest in 5 equal annual installments with the first installment vesting on the date of grant. On July 20, 2016, the Company granted from the 2015 Option Program 300,000 options each to three officers and directors for a total of 900,000 options being granted. The options are exercisable into the Company’s common stock at an exercise price of $0.301 per share and were vested and expensed at the date of issuance. The fair value at date of granted was determined to be $484,205. During the years ended March 31, 2018 and 2017, the Company expensed an aggregate of $40,155 and $576,446, respectively related to its option awards. The unrecognized future balance to be expensed over the remaining vesting term of the options is $19,836 as of March 31, 2018. The following sets forth the options granted and outstanding during the years ended March 31, 2018 and 2017: Options Weighted Average Exercise Price Weighted Average Remaining Contract Life Number of Options Exercisable Intrinsic Value Outstanding at March 31, 2016 395,000 $ 0.47 8.87 150,000 $ 900 Granted 970,000 0.30 -- -- -- Exercised -- -- -- -- -- Outstanding at March 31, 2017 1,365,000 $ 0.35 8.88 1,143,000 $ 36,600 Granted -- -- -- -- -- Exercised -- -- -- -- -- Outstanding at March 31, 2018 1,365,000 $ 0.35 7.88 1,236,000 $ --

WARRANTS

WARRANTS	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 8 - WARRANTS	On September 30, 2015 the Company issued 145,000 warrants to 6 shareholders along with 145,000 common shares for aggregate cash proceeds of $145,000. On October 20, 2015 the Company issue 50,000 warrants along with 50,000 common shares to one individual for aggregate cash proceeds of $50,000. Each warrant is exercisable within two years of the issuance date into one share of the Company’s common stock at $0.01 per share. As of March 31, 2016, 120,000 of the warrants have been exercised leaving 75,000 of this issuance outstanding plus 13,317 initially issued for a total of 88,317. During the year ended March 31, 2017 the Company issued 464,361 warrants to 10 shareholders along with 928,711 common shares for aggregate cash proceeds of $325,050. Each warrant is exercisable within one year of the issuance date into one share of the Company’s common stock at $0.05-0.10 per share. As of March 31, 2017, 25,000 of the warrants have been exercised leaving 464,361,000 of this issuance outstanding plus 63,317 initially issued for a total of 527,678. As of March 31, 2018 all the warrants, except 13,317 which expired, were converted to common stock. During the year ended March 31, 2018, the Company issued 274,228 warrants, each warrant is exercisable, within one year of the issuance, into one share of the Company’s common stock at $0.35 per share. The warrants were issued as commission of equity financing and is regarded as stock issuance cost and a reduction to cash proceeds. (See Note 6: Common Stock) The warrants were priced using the Black Scholes method measuring at date of issuance with a discount rate of .96%, volatility of 191.95 and measurement price of $0.20 with a fair value of $48,069. During the year ended March 31, 2018 the Company issued 1,665,566 warrants to 17 shareholders along with 3,331,598 common shares for aggregate cash proceeds of $1,166,063. Each warrant is exercisable within one year of the issuance date into one share of the Company’s common stock at $0.05-0.10 per share. As of March 31, 2018, 514,361 warrants, were exercised, 13,317 expired, leaving a balance outstanding of 1,939,794. Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Life Intrinsic Value Outstanding at March 31, 2016 88,317 $ 0.16 1.48 $ 29,250 Granted 464,361 0.10 -- -- Exercised (25,000 ) 0.01 -- -- Outstanding at March 31, 2017 527,678 $ 0.11 .84 $ 128,661 Granted 1,939,794 0.09 -- -- Expired (13,317 ) 1.00 -- -- Exercised (514,361 ) 0.09 -- -- Outstanding at March 31, 2018 1,939,794 $ 0.09 .38 $ 333,133

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 9 - INCOME TAXES	At March 31, 2018 and 2017, the Company had federal net operating loss carry forwards of approximately $7,274,992 and $5,244,647, respectively, which expire in varying amounts beginning in 2028. Components of net deferred tax assets, including a valuation allowance, are as follows at March 31, 2018 and 2017: March 31, 2018 March 31, 2017 Deferred tax assets: Net operating loss $ 1,527,748 $ 1,835,626 Less: Valuation allowance (1,527,748 ) (1,835,626 ) Net deferred tax assets $ -- $ -- In assessing the recovery of the deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the periods in which those temporary differences become deductible. Management considers the scheduled reversals of future deferred tax assets, projected future taxable income, and tax planning strategies in making this assessment. As a result, management determined it was more likely than not the deferred tax assets would not be realized as of March 31, 2018. Based on the recent change in corporation tax rates the Company calculated the deferred tax asset for the year ended March 31, 2018 at 21% compared to a rate of 35% for the same period ended March 31, 2017. The parent Company due to its loses has not filed US Corporate tax returns and is subject to examination back to March 31, 2015.

MATERIALS HELD FOR RESEARCH AND

MATERIALS HELD FOR RESEARCH AND DEVELOPMENT WITH ALTERNATIVE FUTURE ALTERNATIVE USE	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 10 - MATERIALS HELD FOR RESEARCH AND DEVELOPMENT WITH ALTERNATIVE FUTURE ALTERNATIVE USE	During the year ended March 31, 2015, the Company, through contract manufacturing incurred costs related to the production of 424 grams of Pritumumab (bulk drug substance), a human monoclonal antibody. The product is being produced for use in research and development. In addition to the use in the brain cancer clinical trials, the Company has also determined the Pritumumab can be used in its current state for pancreatic, breast and lung cancer trials, none of which have commenced. Due to the existence of these alternative future uses, the Company has capitalized the cost of these materials not expected to be used in the brain cancer trials. Of the 424 grams being produced, cost of the grams initially expected to be used in the brain cancer trials was expensed as research and development during the year ended March 31, 2015. The amount capitalized by the Company as of March 31, 2016 was $788,412. These capitalized costs will be expensed as research and development as the materials are consumed. During the year ended March 31, 2017, an additional $58,010 was expensed as research and development associated with the portion filled into vials for use in clinical trials leaving. The Company expensed during the year ended March 31, 2018 an additional $234,334 for the additional portion used in the fill and finish which was used for testing and in preparation for clinical trials in brain cancer. As the Company will begin clinical studies using a dose escalation method, it is not feasible to determine if the additional product will be needed for the brain cancer studies; thus the Company elected to expense the balance of the product in inventory as of March 31, 2018.

LICENSE AGREEMENT AND REVENUE

LICENSE AGREEMENT AND REVENUE	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 11 - LICENSE AGREEMENT AND REVENUE	On January 12, 2016, the Company entered a letter of intent with a company based in China to license the Company’s product for production and sales in China. Under the terms of the agreement the Company received a nonrefundable initial license payment of $600,000 for suspending negotiations with other potential licensees, with the second license payment of $2,400,000 less taxes of 10% paid after the completion of the license agreement. A payment of $5,000,000 less taxes of 10% will be received when the product is approved by the China FDA for clinical trial and a payment of $8,000,000 less taxes of 10% upon approval for commercial use within the license territory. In addition, a royalty of 9% of net sales less taxes of 10% will be paid to the Company. On June 13, 2016, the Company completed a license agreement with a company in China. Under the terms of the license agreement the initial payment of $600,000 was made by the licensee on March 30, 2016 to suspend negotiations with other license parties. The $600,000 payment was recorded in the prior year as deferred income. After it became nonrefundable when the license agreement was signed September 13, 2016 and the negotiation suspension period ceased, the Company recorded the revenue. On July 6, 2016, the Company received the balance of the license payment of $2,400,000 less taxes of 10% ($240,000). The Company received no revenue during the year ended March 31, 2018.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 12 - COMMITMENTS AND CONTINGENCIES	On June 30, 2016 the Company entered into a cell line sales agreement with the product manufacture. Under the terms of the agreement the company is obligated to make future payments based on the milestones of its achievements. These future payments may be as followed; 1. $100,000 upon the initiation (first dose/first patient) of the first Phase I clinical trial (or equivalent) of a product; 2. $225,000 upon the initiation (first dose/first patient) of the first Phase III clinical trial (or equivalent) of a product 3. $225,000 payable upon the first BLA approval (or equivalent) of a product. 4. Annual maintenance fee upon completion of phase I manufacturing or the transfer of the cell line from Catalent’s control of $50,000; 5. A contingent sales fee upon product sales of 1% of sales or $150,000 whichever is greater.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
NOTE 13 - SUBSEQUENT EVENTS	On April 9, 2018 the Company issued 20,000 shares of common stock to one individual for service with a value of $5,000. During April 2018, the Company issued 360,714 shares of common stock to three individuals for the exercise of 360,714 warrants for $18,036 in cash. During May and June 2018, the Company issued 271,428 shares of common stock and 121,428 warrants to three individuals for $95,000 cash. On June 26, 2018 the Company issued 50,000 shares of common stock to one individual with a value of $10,650 for service. On June 29, 2018 the Company issued 87,788 shares of common stock to three officers of the Company with a value of $43,894.

SIGNIFICANT ACCOUNTING POLICI20

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2018
Significant Accounting Policies Policies
Basis of Presentation	The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. The Company has elected a fiscal year ending on March 31.
Principles of Consolidation	The accompanying consolidated financial statements include the accounts of Nascent Biotech, Inc. and its wholly-owned subsidiary Nascent Biologics, Inc. All intercompany accounts and transactions have been eliminated.
Cash and Cash Equivalents	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Use of Estimates	The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.
Revenue Recognition	Revenues may be earned through the sale of product license agreements for the production and sale of the product within specific countries or territories. Revenue may include license sales and future royalties. Revenue is recognized when (a) persuasive evidence of an arrangement exists, (b) delivery has occurred or services have been rendered, (c) the fee is fixed or determinable, and (d) collectability is reasonable assured.
Stock-Based Compensation	The Company accounts for stock-based compensation to employees and consultants in accordance with FASB ASC 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with FASB ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of stock-based payments using the Black Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances.
Research and Development Expense	Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development unless they meet specific criteria related to technical, market and financial feasibility, as determined by management, including but not limited to the establishment of a clearly defined future alternative use for the product, and the availability of adequate resources to complete the project. If all criteria are met, the costs are deferred and amortized over the expected useful life of the project, or expensed as research and development as the material are consumed, or written off if a product is abandoned. At March 31, 2018 and 2017, the Company had zero and $769,954 capitalized associated with materials held with a future alternative use. The cost of these materials is to be expensed as research and development as the materials are consumed or designated for usage. As the Company is preparing to begin clinical studies using a dose escalation method, it is not feasible to determine if the additional product will be needed for the brain cancer studies, thus the Company elected to expense the balance of the product in inventory as of March 31, 2018.
Materials Held for Research and Development with Future Alternative Use	The Company has incurred costs related to the production of 424 grams of Pritumumab a human mono-clinical antibody. Of the 424 grams, the materials designated for use in the brain cancer clinical trials have been expensed as of March 31, 2017 as research and development. The Company has determined the Pritumumab can be used in its current state in pancreatic, breast and lung cancer trials, none of which have commenced. Under the guidelines of ASC 730-10-25-2, Research and Development
Property and Equipment	Property and equipment is recorded at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the expected useful life of the asset (3 to 5 years), beginning when the asset is available and ready for use. Expenditures associated with upgrades and enhancements that improve, add functionality, or otherwise extend the life of property and equipment are capitalized, while expenditures that do not, such as repairs and maintenance, are expensed as incurred. For the years ended March 31, 2018 and 2017, depreciation expense totaled zero, respectively.
Impairment of Long-Lived Assets	The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value. There was no impairment recognized during the years ended March 31, 2018 and 2017.
Income Taxes	Deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for income taxes under the provisions of FASB ASC 740, Accounting for Income Taxes
Basic and Diluted Net Income (Loss) per Share	Basic net income (loss) per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. During the year ended March 31, 2018 the Company had a net loss so the options and warrants outstanding were not part the loss per share calculation as they would be antidilutive. Diluted income (loss) per share calculations includes the dilutive effect of warrants and options on the weighted average of the per share calculation. Diluted net income per share for the year ended March 31, 2017 is based on the weighted average of the shares of common stock outstanding of 21,798,985 plus the equivalent of shares in options and warrants that are eligible to be converted to common stock of 1,879,361 for a total of 23,678,346 shares used in the calculation per share income.
Fair Value of Financial Instruments	The Company’s financial instruments consist of cash and cash equivalents, accounts payable and accrued expenses and shareholder loans. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. Financial assets and liabilities recorded at fair value in our condensed consolidated balance sheets are categorized based upon a fair value hierarchy established by GAAP, which prioritizes the inputs used to measure fair value into the following levels: Level 1— Quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2— Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3— Inputs reflecting management’s best estimates and assumptions of what market participants would use in pricing assets or liabilities at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Financial assets and liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2018 and 2017: Level 1 Level 2 Level 3 Total As of March 31, 2017: Assets None $ - $ - $ - $ - Liabilities Derivative liabilities $ - $ - $ 346 $ 346 As of March 31, 2018: Assets None $ - $ - $ - $ - Liabilities Derivative liabilities $ - $ - $ -- $ -- On May 20, 2014 the Company granted 13,317 common stock warrants for services. The warrants vest immediately, are exercisable at $1.00 per share and expire on May 21, 2017. The Company determined that the warrants were not afforded equity classification because the warrants are not considered to be indexed to the Company's own stock due to the anti-dilution provision. Accordingly, the warrants are treated as a derivative liability and are carried at fair value. The Company estimated the fair value of these derivative warrants at each balance sheet date and the changes in fair value are recognized in earnings in the statement of operations under the caption "gain (loss) on change in fair value of derivative liability" until such time as the derivative warrants are exercised or expire. The Company used the Black-Scholes Option Pricing model to estimate the fair value of the derivative liability as of the date of issuance and as of March 31, 2017 using the following key inputs: market price of the Company's common stock $0.10 to $1.51 per share in 2016 and $0.40 in 2017, volatility of 250% and discount rate of 0.13%. The fair value of the derivative liability was determined to be $346 as of March 31, 2017 and due to the expiration of the warrants the ending balance of the derivative liability was zero as of March 31, 2018. The following table summarizes the change in the fair value of the derivative liabilities during the years ended March 31, 2018 and 2017: Fair value as of March 31, 2016 3,849 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (3,503 ) Fair value as of March 31, 2017 $ 346 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (346 ) Fair value as of March 31, 2018 $ --
Recent Accounting Pronouncements	Nascent Biotech does not expect the adoption of any recently issued accounting pronouncements to have a significant impact on their financial position, results of operations or cash flows.

ORGANIZATION AND NATURE OF OP21

ORGANIZATION AND NATURE OF OPERATIONS (Table)	12 Months Ended
	Mar. 31, 2018
Organization And Nature Of Operations Table
Schedule of net liabilities of Jin-En	Receivable from Biotech $ 60,000 Accounts payable (19,000 ) Convertible note (60,000 ) Net liabilities $ (19,000 )

SIGNIFICANT ACCOUNTING POLICI22

SIGNIFICANT ACCOUNTING POLICIES (Table)	12 Months Ended
	Mar. 31, 2018
Significant Accounting Policies Table
Summery of financial assets and liabilities measured at fair value on a recurring basis	Level 1 Level 2 Level 3 Total As of March 31, 2017: Assets None $ - $ - $ - $ - Liabilities Derivative liabilities $ - $ - $ 346 $ 346 As of March 31, 2018: Assets None $ - $ - $ - $ - Liabilities Derivative liabilities $ - $ - $ -- $ --
Summery of change in the fair value of the derivative liabilities	Fair value as of March 31, 2016 3,849 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (3,503 ) Fair value as of March 31, 2017 $ 346 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (346 ) Fair value as of March 31, 2018 $ --

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Mar. 31, 2018
Related Party Transactions Tables
Shares earned	Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 358,678 1,387,588 Chief Financial Officer 617,346 215,197 832,543 Executive Vice President 617,346 215,197 832,543 Total 2,263,602 789,072 3,052,674
Salary and severance	Officer and Director Annual Compensation Paid for Fiscal Year Annual Severance per Contract if Terminated President $ 151,000 $ 250,000 Chief Financial Officer $ 104,000 $ 180,000 Executive Vice President $ 63,000 $ 140,000 Total $ 318,000 $ 570,000

OPTIONS (Tables)

OPTIONS (Tables)	12 Months Ended
	Mar. 31, 2018
Options Tables
Summary of options granted and outstanding	Options Weighted Average Exercise Price Weighted Average Remaining Contract Life Number of Options Exercisable Intrinsic Value Outstanding at March 31, 2016 395,000 $ 0.47 8.87 150,000 $ 900 Granted 970,000 0.30 -- -- -- Exercised -- -- -- -- -- Outstanding at March 31, 2017 1,365,000 $ 0.35 8.88 1,143,000 $ 36,600 Granted -- -- -- -- -- Exercised -- -- -- -- -- Outstanding at March 31, 2018 1,365,000 $ 0.35 7.88 1,236,000 $ --

WARRANTS (Tables)

WARRANTS (Tables)	12 Months Ended
	Mar. 31, 2018
Warrants Tables
Warrants exercised	Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Life Intrinsic Value Outstanding at March 31, 2016 88,317 $ 0.16 1.48 $ 29,250 Granted 464,361 0.10 -- -- Exercised (25,000 ) 0.01 -- -- Outstanding at March 31, 2017 527,678 $ 0.11 .84 $ 128,661 Granted 1,939,794 0.09 -- -- Expired (13,317 ) 1.00 -- -- Exercised (514,361 ) 0.09 -- -- Outstanding at March 31, 2018 1,939,794 $ 0.09 .38 $ 333,133

INCOME TAXES (Table)

INCOME TAXES (Table)	12 Months Ended
	Mar. 31, 2018
Income Taxes Table
Summery of net deferred tax assets	March 31, 2018 March 31, 2017 Deferred tax assets: Net operating loss $ 1,527,748 $ 1,835,626 Less: Valuation allowance (1,527,748 ) (1,835,626 ) Net deferred tax assets $ -- $ --

ORGANIZATION AND NATURE OF OP27

ORGANIZATION AND NATURE OF OPERATIONS (Details) - Jin-En Group International Holding Company[Member] - USD ($)	Mar. 31, 2018	Jul. 15, 2014
Receivable from Biotech	$ 60,000
Accounts payable	(19,000)
Convertible note	(60,000)
Net liabilities	$ (19,000)	$ 19,000

ORGANIZATION AND NATURE OF OP28

ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jul. 15, 2014
Date of Incorporation	Mar. 3, 2014
State of Incorporation	Nevada
Common stock outstanding shares	27,753,365	23,292,298
Jin-En Group International Holding Company[Member]
Common stock, issued shares			7,500,200
Common stock cancelled shares			15,000,000
Common stock outstanding shares			22,829,400
Net liabilities	$ (19,000)		$ 19,000

SIGNIFICANT ACCOUNTING POLICI29

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Fair value assets
Derivative assets
Fair value liabilities
Derivative liabilities		346	$ 3,849
Fair Value, Inputs, Level 1 [Member]
Fair value assets
Derivative assets
Fair value liabilities
Derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Fair value assets
Derivative assets
Fair value liabilities
Derivative liabilities
Fair Value, Inputs, Level 3 [Member]
Fair value assets
Derivative assets
Fair value liabilities
Derivative liabilities		$ 346

SIGNIFICANT ACCOUNTING POLICI30

SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Significant Accounting Policies Details 1
Begnning Balance	$ 346	$ 3,849
Additions at fair value
Transfers in (out) of Level 3
Change in fair value	(346)	(3,503)
Ending Balance		$ 346

SIGNIFICANT ACCOUNTING POLICI31

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	May 20, 2014	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Deferred devlopment cost			$ 769,954
Weighted average number of shares outstanding, basic		25,883,774	21,798,985
Common stock converted shares			1,879,361
Weighted average number of shares outstanding, diluted		25,883,774	23,678,346
Common stock warrants for services	13,317
Warrant vested to exercisable price	$ 1
Date of expired	May 21, 2017
Stock per share			$ 0.40
Fair value of derivative liability			$ 346	$ 3,849
Volatility rate		250.00%	250.00%
Discount rate			0.13%
Minimum [Member]
Property and equipment useful life		3 years
Stock per share				$ 0.10
Maximum [Member]
Property and equipment useful life		5 years
Stock per share				$ 1.51

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Going Concern Details Narrative
Working capital deficit	$ (86,379)
Accumulated Deficit	$ (11,464,589)	$ (9,243,290)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	12 Months Ended
	Mar. 31, 2018shares
Initial Share Awards Under the Contracts	2,263,602
Additional Shares Earned to Maintain Ownership Percentage	789,072
Total Shares Earned	3,052,674
President [Member]
Initial Share Awards Under the Contracts	1,028,910
Additional Shares Earned to Maintain Ownership Percentage	358,678
Total Shares Earned	1,387,588
Chief Financial Officer [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	215,197
Total Shares Earned	832,543
Executive Vice President [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	215,197
Total Shares Earned	832,543

RELATED PARTY TRANSACTIONS (D34

RELATED PARTY TRANSACTIONS (Details 1)	12 Months Ended
	Mar. 31, 2018USD ($)
Annual Compensation	$ 318,000
Annual Severance per Contract if Terminated	570,000
President [Member]
Annual Compensation	151,000
Annual Severance per Contract if Terminated	250,000
Chief Financial Officer [Member]
Annual Compensation	104,000
Annual Severance per Contract if Terminated	180,000
Executive Vice President [Member]
Annual Compensation	63,000
Annual Severance per Contract if Terminated	$ 140,000

RELATED PARTY TRANSACTIONS (D35

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Former Officer [Member]
Consulting fees	$ 60,000	$ 60,000
Three Officers [Member]
Common shares issued	520,108
Common shares issued for services, fair value	$ 131,115
Three Officers And Director [Member]
Common shares issued	50,000
Common shares issued for services, fair value	$ 11,000
Three Officers And Director [Member] | September 1, 2015 [Member]
Officers and directors employment agreement terms, description	The Company entered into five year employment contracts with three of its officers and directors. Under the terms of the agreements the Company issued shares of common stock to the officers and directors equaling 11% of the outstanding shares of the Company as of the date of the contracts. As additional future shares are issued, the officers and directors are entitled to additional shares, so their aggregate ownership percentage remains at 11% of the outstanding shares of the Company.

LICENSE LIABILITY (Details Narr

LICENSE LIABILITY (Details Narrative)	Oct. 12, 2017USD ($)pure / Integer	Sep. 21, 2015USD ($)Numbershares	Mar. 31, 2018USD ($)Number	Mar. 31, 2016USD ($)
Remaining license agreement liability paid			$ 14,000
Number of installments, consideration for license | Number		28	6
Consideration for license			$ 2,000,000
Amount of installments			300,000
Monthly installment payment		$ 1,000
Final installment amount			$ 200,000
Royalty description			The license provides the licensor with a royalty of 2% on the sales of the developed product, up to $10,000,000 in sales, and thereafter, a royalty of 1% for all sales over $10,000,000.
License agreement annually payment			$ 333,000
Cash received		$ 30,000
Common stock, shares | shares		200,000
Percentage of net sales		1.00%
Common shares issued, amount		$ 150,000
Gain on settlement of license agreement liability				$ 1,573,650
Product royality		1,000,000
Consulting agreement [Member]
Number of installments, consideration for license	24
Monthly installment payment	$ 1,000
Consulting fees payable	$ 24,000
Additional payment [Member]
Final installment amount		$ 5,000

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Common shares issued, shares		25,000
Warrants Exercised	195,000	25,000	120,000
Exercise price per share		$ 0.01
Common share value for services	$ 7,320	$ 118,337
Common stock issued for accounts payable, Amount		145,520
Common stock and warrants issued for cash, Amount	$ 1,166,063	$ 325,050
Common stock issued for multiple entities, Shraes		203,571
Common stock issued for multiple entities, value		$ 55,071
Warrant [Member]
Warrants Exercised	(514,361)	(25,000)
Three Officers [Member]
Common share issued for services	520,108	168,714
Common share value for services	$ 131,115	$ 63,266
10 Individuals [Member]
Common stock and warrants issued for cash, Shares		928,711
Common stock and warrants issued for cash, Amount		$ 325,050
10 Individuals [Member] | Warrant [Member]
Number of exercisable shares		464,361
10 Individuals [Member] | Warrant [Member] | Minimum [Member]
Exercise price per share		$ 0.05
10 Individuals [Member] | Warrant [Member] | Maximum [Member]
Exercise price per share		$ 0.10
One Entity [Member]
Common stock issued for accounts payable, Shares		351,487
Common stock issued for accounts payable, Amount		$ 145,520
Issuance of common stock created gain on settlement of accounts payable		$ 335,000
17 Independent [Member]
Common shares issued, shares	3,331,598
Exercise price per share	$ 0.35
Common stock and warrants issued for cash, Amount	$ 1,166,063
17 Independent [Member] | Warrant [Member]
Number of exercisable shares	1,665,566
17 Independent [Member] | Warrant [Member] | Minimum [Member]
Exercise price per share	$ 0.05
17 Independent [Member] | Warrant [Member] | Maximum [Member]
Exercise price per share	$ 0.10
11 Independent [Member]
Common stock and warrants issued for cash, Shares	514,361
Three Independent [Member]
Common share issued for services	45,000
Common share value for services	$ 7,320
Independent Director [Member]
Common share issued for services	50,000
Common share value for services	$ 11,000

OPTIONS (Details)

OPTIONS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Exercised	195,000	25,000	120,000
Option [Member]
Outstanding option shares, Beginning	1,365,000	395,000
Granted		970,000
Exercised
Outstanding option shares, Ending	1,365,000	1,365,000	395,000
Weighted average exercise price, Beginning	$ 0.35	$ 0.47
Granted		0.30
Exercised
Weighted average exercise price, Ending	$ 0.35	$ 0.35	$ 0.47
Weighted average remaining contract life, Beginning	8 years 10 months 17 days	8 years 10 months 14 days
Weighted average remaining contract life, Ending	7 years 10 months 17 days	8 years 10 months 17 days
Number of options exercisable Beginning balance	1,143,000	150,000
Granted
Exercised
Number of options exercisable ending balance	1,236,000	1,143,000	150,000
Intrinsic value, Beginning	$ 36,600	$ 900
Granted
Exercised
Intrinsic value, Ending		$ 36,600	$ 900

OPTIONS (Details Narrative)

OPTIONS (Details Narrative)	1 Months Ended	12 Months Ended
	Jul. 20, 2016USD ($)pure / Integer$ / sharesshares	Mar. 31, 2018USD ($)pure / Integer$ / sharesshares	Mar. 31, 2017USD ($)
Options vest period		5 years	5 years
Vest percentage at grant		20.00%
Common stock exercisable term		10 years	10 years
Option expense | $		$ 40,155	$ 576,446
Unrecognized future balance to be expensed | $		$ 19,836
Option 2 [Member]
Issued options	300,000
Exercise price of options | $ / shares	$ 0.301
Numbers of officers and directors issued	3
Fair value of option granted | $	$ 484,205
Options granted	900,000
Option 1 [Member] | April 1, 2018 [Member]
Common stock exercisable term		10 years
Exercise price of options | $ / shares		$ 0.30
Number of installments vest		5
Options granted		40,000
Option 1 [Member] | April 1, 2017 [Member]
Options granted		30,000
Option 1 [Member] | April 1, 2016 [Member]
Common stock exercisable term		10 years
Issued options		40,000
Exercise price of options | $ / shares		$ 0.30
Number of installments vest		5
Options granted		30,000

WARRANTS (Details)

WARRANTS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Warrants Exercised	195,000	25,000	120,000
Warrant [Member]
Outstanding option shares, Beginning	527,678	88,317
Warrants Granted, shares	1,939,794	464,361
Warrants Expired, shares	(13,317)
Warrants Exercised	(514,361)	(25,000)
Outstanding option shares, Ending	1,939,794	527,678	88,317
Weighted average exercise price, Beginning	$ 0.11	$ 0.16
Granted	0.09	0.10
Exercised	0.09	0.01
Expired	1
Weighted average exercise price, Ending	$ 0.09	$ 0.11	$ 0.16
Weighted average remaining contract life, Beginning	10 months 3 days	1 year 5 months 23 days
Weighted average remaining contract life, Ending	4 months 17 days	10 months 3 days
Intrinsic value, Beginning	$ 128,661	$ 29,250
Intrinsic value granted
Intrinsic value exercised
Intrinsic value expired
Intrinsic value, Ending	$ 333,133	$ 128,661	$ 29,250

WARRANTS (Details Narrative)

WARRANTS (Details Narrative)	1 Months Ended			12 Months Ended
	Oct. 20, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)pure / Integershares	Sep. 21, 2015USD ($)	Mar. 31, 2018USD ($)pure / Integer$ / sharesshares	Mar. 31, 2017USD ($)pure / Integer$ / sharesshares	Mar. 31, 2016USD ($)shares
Company issued warrants, shares		145,000		1,665,566	464,361
Number of shareholders issued warrants		6		17	10
Common shares issued for cash, shares		145,000		3,331,598	928,711
Common shares issued for cash, amount | $		$ 145,000		$ 1,166,063	$ 325,050
Warrants excisable period				1 year	1 year
Company issued warrants, amount | $					$ 527,678	$ 88,317
Warrants initially issued					63,317	13,317
Company issued warrants outstanding					464,361,000	75,000
Warrants exercised				195,000	25,000	120,000
Common shares issued, shares					25,000
Common shares issued, amount | $			$ 150,000
Exercise price | $ / shares				$ 0.35
Volatility rate				250.00%	250.00%
Discount rate					0.13%
Fair value of derivative liability | $					$ 346	$ 3,849
Maximum [Member]
Warrants issued per share | $ / shares				$ 0.10	$ 0.10
Minimum [Member]
Warrants issued per share | $ / shares				$ 0.05	$ 0.05
Warrant [Member]
Company issued warrants, shares	50,000			274,228
Common shares issued for cash, shares	50,000
Common shares issued for cash, amount | $	$ 50,000
Warrants excisable period	2 years			1 year
Warrants issued per share | $ / shares	$ 0.01
Warrants expired, shares				13,317
Warrants exercised				(514,361)	(25,000)
Warrants granted, shares				1,939,794	464,361
Exercise price | $ / shares				$ 0.35
Volatility rate				191.95%
Discount rate				0.96%
Measurement price | $ / shares				$ 0.20
Weighted average remaining contract life				4 months 17 days	10 months 3 days
Intrinsic value | $ / shares				$ 251,405
Fair value of derivative liability | $				$ 48,069

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Deferred tax assets:
Net operating loss	$ 1,527,748	$ 1,835,626
Less: Valuation allowance	(1,527,748)	(1,835,626)
Net deferred tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Taxes Details Narrative
Federal net operating loss carry forwards	$ (7,274,992)	$ (5,244,647)
Expire year	2,028
Federal tax rate	21.00%	35.00%

MATERIALS HELD FOR RESEARCH A44

MATERIALS HELD FOR RESEARCH AND DEVELOPMENT WITH ALTERNATIVE FUTURE ALTERNATIVE USE (Details Narrative)	12 Months Ended
	Mar. 31, 2015kg / g	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Materials Held For Research And Development With Alternative Future Alternative Use Details Narrative
Amount capitalized for development | $		$ 234,334	$ 58,010	$ 788,412
Production of Pritumumab bulk drug substance | kg / g	424

LICENSE AGREEMENT (Details Narr

LICENSE AGREEMENT (Details Narrative) - USD ($)	Jan. 12, 2016	Jul. 06, 2016	Mar. 30, 2016
Deferred revenue			$ 600,000
Description of royalty percentage	a royalty of 9% of net sales less taxes of 10% will be paid to the Company.
Transaction One [Member]
Initial license payment	$ 600,000
Transaction Two [Member]
Initial license payment	$ 2,400,000
Tax rate	10.00%
Transaction Three [Member]
Initial license payment	$ 5,000,000
Tax rate	10.00%
Transaction Four [Member]
Initial license payment	$ 8,000,000
Tax rate	10.00%
Transaction Five [Member]
Initial license payment			$ 600,000
Transaction Six [Member]
Initial license payment		$ 2,400,000
Tax rate		10.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	1 Months Ended
	Jun. 30, 2016USD ($)
Contingent sales fee description	First commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.
first Phase I clinical trial [Member]
Future payments	$ 100,000
Annual maintenance fee	50,000
first Phase III clinical trial [Member]
Future payments	225,000
first BLA [Member]
Future payments	$ 225,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Apr. 09, 2018	Jun. 29, 2018	Jun. 26, 2018	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2018	Apr. 30, 2018
Common stock, issued shares				27,753,365	23,292,298
Common share value for services				$ 7,320	$ 118,337
Subsequent Event [Member] | Three Officers [Member]
Common share issued for services		87,788
Common share value for services		$ 43,894
Subsequent Event [Member] | One Individuals [Member]
Common share issued for services	20,000		50,000
Common share value for services	$ 5,000		$ 10,650
Subsequent Event [Member] | Three Individuals [Member]
Common stock, issued shares						271,428	360,714
Warrants issued						121,428
Warrants issued value						$ 95,000	$ 18,036
Warrants exercised							360,714