Nascent Biotech (NBIO) 10-Q 5 Nov 18 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2018	Nov. 02, 2018
Document And Entity Information
Entity Registrant Name	NASCENT BIOTECH INC.
Entity Central Index Key	1,622,057
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		30,532,857
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,019
Entity Emerging Growth Company	false
Entity Small Business	true

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2018	Mar. 31, 2018
Current assets:
Cash and cash equivalents	$ 110,172	$ 116,994
Total current assets	110,172	116,994
Total assets	110,172	116,994
Current liabilities:
Accounts payable and accrued liabilities	465,807	203,373
Due to related parties	35,000
Total current liabilities	500,807	203,373
Total liabilities	500,807	203,373
Stockholders' (deficit):
Preferred stock, $0.001 par value, 10,000,000 authorized, none issued and outstanding
Common stock, $0.001 par value; 100,000,000 authorized, 30,532,857 and 27,753,365 issued and outstanding, respectively	30,533	27,754
Additional paid-in capital	11,821,138	11,350,456
Accumulated deficit	(12,242,306)	(11,464,589)
Total stockholders' (deficit)	(390,635)	(86,379)
Total liabilities and stockholder' (deficit)	$ 110,172	$ 116,994

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2018	Mar. 31, 2018
Stockholders': (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	30,532,857	27,753,365
Common stock, outstanding shares	30,532,857	27,753,365

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Operating expenses:
General and administrative expense	$ 298,512	$ 308,665	$ 626,300	$ 535,366
Research and development	39,500	249,561	151,439	321,409
Loss from operations	(338,012)	(558,226)	(777,739)	(856,775)
Other income (expense):
Interest income	14	28	22	47
Gain on change in fair value of derivative liability				346
Total other income (expense)	14	28	22	393
Net loss before income taxes	(337,998)	(558,198)	(777,717)	(856,382)
Net loss	$ (337,998)	$ (558,198)	$ (777,717)	$ (856,382)
Net loss per share, basic and diluted	$ (0.01)	$ (0.02)	$ (0.03)	$ (0.03)
Weighted average number of shares outstanding, basic and diluted	29,733,807	24,049,439	28,950,329	24,483,928

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net (loss)	$ (777,717)	$ (856,382)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of derivative liability		(346)
Stock based compensation - related parties	85,476
Stock-based compensation	27,500	123,182
Option expense	19,200	21,824
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	262,434	(34,111)
Accrued expenses - related parties	35,000
License agreement liability		(6,000)
Net cash used in operating activities	(348,107)	(751,833)
Cash flows from financing activities:
Common stock issued for exercise of warrants	83,285	1,928
Proceeds from sale of common stock and warrants	258,000	1,146,059
Net cash provided by financing activities	341,285	1,147,987
Net increase (decrease) in cash	(6,822)	396,154
Cash and cash equivalents - beginning of year	116,994	129,806
Cash and cash equivalents - end of period	110,172	525,960
SUPPLEMENT DISCLOSURES:
Interest paid
Income taxes paid

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS	Nascent Biotech, Inc. (“Nascent” or the “Company””) was incorporated on March 3, 2014 under the laws of the State of Nevada. 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. On March 31, 2017 the Company filed its IND submission with the Federal Drug Administration (FDA) for clearance to begin Phase I clinical trials. The Company is in the process of responding to additional data requests from the FDA requiring additional testing of the product and additional materials to answer specific questions from the FDA. On April 1, 2018 the Company adopted ASC 606 (Revenue From Contracts with Customers) which is effective for annual and interim reporting periods after December 15, 2017. As the Company has no revenue during this period there is no impact from adoption.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 2 - 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. The accompanying unaudited interim consolidated financial statements of the Company for the six months ended September 30, 2018 and 2017 have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information in accordance with Securities and Exchange Commission and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the year ended March 31, 2018. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position and the results of operations for the interim periods presented herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for any subsequent quarters or for an entire year.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Sep. 30, 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 had incurred net losses since inception and after the year ended March 31, 2017 in which the Company posted net income from a license sale to a pharmaceutical company in China. The Company has no revenue to cover its operating costs and the Company will incur additional expenses in the future developing their product. These factors raise substantial doubt about the company’s ability to continue as a going concern. The Company engages in research and development activities that must be satisfied in cash secured through outside funding. The Company may 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. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 4 - RELATED PARTY TRANSACTIONS	On September 1, 2015, the Company entered 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 as of September 30, 2018: Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 498,060 1,526,970 Chief Financial Officer 617,346 298,826 916,172 Executive Vice President 617,346 298,826 916,172 Total 2,263,602 1,095,712 3,359,514 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 Fiscal Year Annualized Compensation Being Paid Annual Severance per Contract if Terminated President $ 186,000 $ 250,000 Chief Financial Officer $ 132,000 $ 180,000 Executive Vice President $ 84,000 $ 140,000 Total $ 402,000 $ 570,000 During the six month period ended September 30, 2017 the Company issued 486,451 shares of common stock to three officers and a director of the Company with a value of $123,182 for service. During the six month period ended September 30, 2018 the Company issued 306,640 shares of common stock to three officers of the Company with a value of $85,476 for service. During the six month period ended September 30, 2018 the Company paid a related party and Chairman of the Scientific Board $12,000 in consulting fees and accrued $3,000 of the fees. During the same period in 2017 the Company paid $30,000 to the same individual. During the six month period ended September 30, 2018 the Company accrued $32,000 in fees due officers of the Company.

COMMON STOCK

COMMON STOCK	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 5 - COMMON STOCK	During the six months ended September 30, 2017 the Company issued 3,274,455 shares of common stock and 1,911,223 warrants to 15 individuals for cash of $1,146,059. During the six months ended September 30, 2017 the Company issued 78,572 shares of common stock to three individual exercising 78,572 warrants for cash of $1,928. During the six month period ended September 30, 2017 the Company issued 486,451 shares of common stock to three officers and an independent director of the Company with a value of $123,182 for service. During the six months ended September 30, 2018 the Company issued 737,142 shares of common stock plus 237,747 warrants to eight individuals for $258,000 in cash. The warrants vest immediately and terminate in one year with conversion price from $0.05-$0.50. During the six months ended September 30, 2018 the Company issued 1,665,710 shares of common stock for the conversion of 1,665,710 warrants with a value of $83,285. During the six month period ended September 30, 2018 the Company issued 70,000 shares of common stock of the Company to two individuals with a value of $27,500 for service. During the six month period ended September 30, 2018 the Company issued 306,640 shares of common stock to three officers of the Company with a value of $85,476 for service.

OPTIONS

OPTIONS	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 6 - OPTIONS	During the six month period ended September 30, 2018, the Company expensed $19,200 related to its option awards. The unrecognized future balance to be expensed over the remaining vesting term of the options is $21,854 as of September 30, 2018. The following sets forth the options granted and outstanding during the six months ended September 30, 2018: Options Weighted Average Exercise Price Weighted Average Remaining Contract Life Number of Options Exercisable Intrinsic Value Outstanding at March 31, 2018 1,365,000 $ 0.35 7.88 1,236,000 $ -- Granted 40,000 0.25 9.50 -- -- Exercised -- -- -- -- -- Outstanding at September 30, 2018 1,405,000 $ 0.34 7.44 1,296,000 $ -- The weighted average remaining life and intrinsic value of the options as of September 30, 2018, was 7.44 years and zero, respectively.

WARRANTS

WARRANTS	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 7 - WARRANTS	During the six month period ended September 30, 2017, the Company issued 1,911,223 warrants along with 3,274,455 shares of common stock to 15 individuals for aggregate cash proceeds of $1,146,059. Each warrant is exercisable, within one years of the issuance, into one share of the Company’s common stock at $0.05 per share. During the six month period ended September 30, 2017 three individual exercised 78,572 warrants into 78,572 shares of common stock with a value of $1,928 in cash. As of September 30, 2017, the Company had total outstanding warrants of 2,347,012. During the six month period ended September 30, 2018, the Company issued 237,747 warrants with each warrant is exercisable, within one year of the issuance, into one share of the Company’s common stock at $0.05 to $0.50 per share. During the six month period ended September 30, 2018 seventeen individual exercised 1,665,710 warrants into 1,665,710 shares of common stock with a value of $83,285 in cash. As of September 30, 2018, the Company had total outstanding warrants of 511,975. The weighted average remaining life and intrinsic value of the warrants as of September 30, 2018, was 0.50 years and $22,486 respectively. Weighted Weighted Average Average Remaining Exercise Contract Intrinsic Warrants Price Life Value Outstanding at March 31, 2018 1,939,938 $ 0.09 0.38 $ 333,133 Granted 237,747 0.20 .87 -- Exercised (1,665,710 ) 0.05 -- -- Outstanding at September 30, 2018 511,975 $ 0.28 0.50 $ 22,486

LICENSE AGREEMENT

LICENSE AGREEMENT	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 8 - LICENSE AGREEMENT	On September 13, 2016, the Company completed a license agreement with a company based in China to license the Company’s product for production and sales 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). A payment of $5,000,000 less taxes of 10% will be received when the product is cleared 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 for a period of 20 years after approval for commercial use.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2018
Notes to Financial Statements
NOTE 9 - COMMITMENTS AND CONTINGENCIES	On September 30, 2016, the Company entered a cell line sales agreement with the product manufacturer. 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 Biologics License Application 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 first commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Sep. 30, 2018
Related Party Transactions
Contracts shares earned	Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 498,060 1,526,970 Chief Financial Officer 617,346 298,826 916,172 Executive Vice President 617,346 298,826 916,172 Total 2,263,602 1,095,712 3,359,514
Annual salary and annual severance amounts per the contracts of related party	Officer and Director Fiscal Year Annualized Compensation Being Paid Annual Severance per Contract if Terminated President $ 186,000 $ 250,000 Chief Financial Officer $ 132,000 $ 180,000 Executive Vice President $ 84,000 $ 140,000 Total $ 402,000 $ 570,000

OPTIONS (Tables)

OPTIONS (Tables)	6 Months Ended
	Sep. 30, 2018
Option [Member]
Summary of stock options and warrants outstanding	Options Weighted Average Exercise Price Weighted Average Remaining Contract Life Number of Options Exercisable Intrinsic Value Outstanding at March 31, 2018 1,365,000 $ 0.35 7.88 1,236,000 $ -- Granted 40,000 0.25 9.50 -- -- Exercised -- -- -- -- -- Outstanding at September 30, 2018 1,405,000 $ 0.34 7.44 1,296,000 $ --

WARRANTS (Tables)

WARRANTS (Tables)	6 Months Ended
	Sep. 30, 2018
Warrant [Member]
Summary of stock options and warrants outstanding	Weighted Weighted Average Average Remaining Exercise Contract Intrinsic Warrants Price Life Value Outstanding at March 31, 2018 1,939,938 $ 0.09 0.38 $ 333,133 Granted 237,747 0.20 .87 -- Exercised (1,665,710 ) 0.05 -- -- Outstanding at September 30, 2018 511,975 $ 0.28 0.50 $ 22,486

ORGANIZATION AND NATURE OF OP_2

ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative)	6 Months Ended
	Sep. 30, 2018
Organization And Nature Of Operations
Date of Incorporation	Mar. 3, 2014
State of Incorporation	Nevada

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	6 Months Ended
	Sep. 30, 2018shares
Initial Share Awards Under the Contracts	2,263,602
Additional Shares Earned to Maintain Ownership Percentage	1,095,712
Total Shares Earned	3,359,514
President [Member]
Initial Share Awards Under the Contracts	1,028,910
Additional Shares Earned to Maintain Ownership Percentage	498,060
Total Shares Earned	1,526,970
Chief Financial Officer [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	298,826
Total Shares Earned	916,172
Executive Vice President [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	298,826
Total Shares Earned	916,172

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1)	6 Months Ended
	Sep. 30, 2018USD ($)
Fiscal year annualized compensation being paid	$ 402,000
Annual Severance per Contract if Terminated	570,000
President [Member]
Fiscal year annualized compensation being paid	186,000
Annual Severance per Contract if Terminated	250,000
Chief Financial Officer [Member]
Fiscal year annualized compensation being paid	132,000
Annual Severance per Contract if Terminated	180,000
Executive Vice President [Member]
Fiscal year annualized compensation being paid	84,000
Annual Severance per Contract if Terminated	$ 140,000

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Related party and Chairman of the Scientific Board [Member]
Consulting fees	$ 12,000	$ 30,000
Accrued fees	3,000
Officers [Member]
Accrued fees	$ 32,000
Three Officers [Member]
Common shares issued for services, shares	306,640
Common shares issued for services, value	$ 85,476
Three Officers and Director [Member]
Common shares issued for services, shares		486,451
Common shares issued for services, value		$ 123,182
Three Officers And Director [Member] | September 1, 2015 [Member]
Officers and directors employment agreement terms, description	the Company entered 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.

COMMON STOCK (Details Narrative

COMMON STOCK (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Warrant [Member]
Common shares issued, shares	1,665,710
Common shares issued, amount	$ 83,285
Warrants granted, shares	237,747
Warrants exercised	(1,665,710)
Conversion of warrants	1,665,710
Minimum [Member] | Warrant [Member]
Conversion price	$ 0.50
Maximum [Member] | Warrant [Member]
Conversion price	$ 0.05
Three Individuals [Member]
Common shares issued, shares		78,572
Common shares issued, amount		$ 1,928
Warrants exercised		78,572
Three Officers [Member]
Common shares issued for services, shares	306,640
Common shares issued for services, value	$ 85,476
Two Individuals [Member]
Common shares issued for services, shares	70,000
Common shares issued for services, value	$ 27,500
Eight Individuals [Member]
Common shares issued, shares	737,142
Common shares issued, amount	$ 258,000
Warrants granted, shares	237,747
Common stock description	<font style="font: 10pt Times New Roman, Times, Serif">The warrants vest immediately and terminate in one year with conversion price from $0.05-$0.50.</font></p>" id="sjs-B27">&lt;p style="margin: 0; text-align: justify">&lt;font style="font: 10pt Times New Roman, Times, Serif">The warrants vest immediately and terminate in one year with conversion price from $0.05-$0.50.&lt;/font>&lt;/p>
Eight Individuals [Member] | Minimum [Member]
Conversion price	$ 0.05
Eight Individuals [Member] | Maximum [Member]
Conversion price	$ 0.50
Three Officers and Director [Member]
Common shares issued for services, shares		486,451
Common shares issued for services, value		$ 123,182
Fifteen Individuals [Member]
Common shares issued, shares		3,274,455
Common shares issued, amount		$ 1,146,059
Warrants granted, shares		1,911,223

OPTIONS (Details)

OPTIONS (Details)	6 Months Ended
	Sep. 30, 2018USD ($)$ / sharesshares
Outstanding option shares, Ending	511,975
Weighted average remaining contract life, Ending	7 years 5 months 9 days
Option [Member]
Outstanding option shares, Beginning	1,365,000
Option granted	40,000
Option exercised
Outstanding option shares, Ending	1,405,000
Weighted average exercise price, Beginning | $ / shares	$ 0.35
Granted | $ / shares	0.25
Exercised | $ / shares
Weighted average exercise price, Ending | $ / shares	$ 0.34
Weighted average remaining contract life, Beginning	7 years 10 months 17 days
Weighted average remaining contract life granted	9 years 6 months
Weighted average remaining contract life, Ending	7 years 5 months 9 days
Number of options exercisable Beginning balance	1,236,000
Granted
Exercised
Number of options exercisable ending balance	1,296,000
Intrinsic value, Beginning | $
Granted | $
Exercised | $
Intrinsic value, Ending | $

OPTIONS (Details Narrative)

OPTIONS (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Options
Option expense	$ 19,200	$ 21,824
Unrecognized future balance to be expensed	$ 21,854
Weighted average remaining life	7 years 5 months 9 days
Weighted average intrinsic value	$ 0

WARRANTS (Details)

WARRANTS (Details)	6 Months Ended
	Sep. 30, 2018USD ($)$ / sharesshares
Outstanding option shares, Ending	511,975
Warrant [Member]
Outstanding option shares, Beginning	1,939,938
Warrants granted, shares	237,747
Warrants exercised, shares	(1,665,710)
Outstanding option shares, Ending	511,975
Weighted average exercise price, Beginning | $ / shares	$ 0.09
Granted | $ / shares	0.20
Exercised | $ / shares	0.05
Weighted average exercise price, Ending | $ / shares	$ 0.28
Weighted average remaining contract life, Beginning	4 months 17 days
Weighted average, granted	10 months 14 days
Weighted average remaining contract life, Ending	6 months
Intrinsic value, Beginning | $	$ 333,133
Intrinsic value granted | $
Intrinsic value exercised | $
Intrinsic value, Ending | $	$ 22,486

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Outstanding warrants	511,975
Warrant [Member]
Warrants exercisable period	1 year
Common shares issued, shares	1,665,710
Common shares issued, amount	$ 83,285
Conversion of warrants	1,665,710
Warrants exercised	(1,665,710)
Warrants granted, shares	237,747
Weighted average remaining contract life	6 months
Intrinsic value	$ 22,486
Outstanding warrants	511,975		1,939,938
Warrant [Member] | Maximum [Member]
Conversion price	$ 0.05
Warrant [Member] | Minimum [Member]
Conversion price	$ 0.50
Three Individual [Member]
Outstanding warrants		2,347,012
Seventeen Individuals [Member]
Common shares issued, shares	1,665,710
Common shares issued, amount	$ 83,285
Conversion of warrants	1,665,710
Fifteen Individuals [Member]
Warrants exercisable period		1 year
Warrants issued per share		$ 0.05
Common shares issued, shares		3,274,455
Common shares issued, amount		$ 1,146,059
Warrants granted, shares		1,911,223
Three Individuals [Member]
Common shares issued, shares		78,572
Common shares issued, amount		$ 1,928
Warrants exercised		78,572

LICENSE AGREEMENT (Details Narr

LICENSE AGREEMENT (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2018	Sep. 13, 2016	Jul. 06, 2016	Mar. 30, 2016
Deferred revenue				$ 600,000
September 13, 2016 [Member]
Description of royalty percentage	</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In addition, a royalty of 9% of net sales less taxes of 10% will be paid to the Company for a period of 20 years after approval for commercial use.</font></p> <p style="margin: 0pt; text-align: justify"></p>" id="sjs-B5">&lt;p style="margin: 0pt; text-align: justify">&lt;/p> &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&lt;font style="font: 10pt Times New Roman, Times, Serif">In addition, a royalty of 9% of net sales less taxes of 10% will be paid to the Company for a period of 20 years after approval for commercial use.&lt;/font>&lt;/p> &lt;p style="margin: 0pt; text-align: justify">&lt;/p>
Transaction One [Member]
Initial payment		$ 600,000
Transaction Two [Member]
Initial payment			$ 2,400,000
Tax rate			10.00%
Transaction Three [Member]
Initial payment			$ 5,000,000
Tax rate			10.00%
Transaction Four [Member]
Initial payment			$ 8,000,000
Tax rate			10.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	6 Months Ended
	Sep. 30, 2016USD ($)
Contingent sales fee description	<font style="font: 10pt Times New Roman, Times, Serif">First commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.</font></p>" id="sjs-B3">&lt;p style="margin: 0; text-align: justify">&lt;font style="font: 10pt Times New Roman, Times, Serif">First commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.&lt;/font>&lt;/p>
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 Biologics License [Member]
Future payments	$ 225,000