Nascent Biotech (NBIO) 10-Q 18 Nov 19 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2019	Nov. 18, 2019
Document And Entity Information
Entity Registrant Name	Nascent Biotech Inc.
Entity Central Index Key	0001622057
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Sep. 30, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		33,772,970

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2019	Mar. 31, 2019
Current assets:
Cash	$ 5,471	$ 131,472
Total current assets	5,471	131,472
Total assets	5,471	131,472
Current liabilities:
Accounts payable and accrued liabilities	676,907	525,636
Due to related parties	129,710	88,000
Total current liabilities	806,617	613,636
Total liabilities	806,617	613,636
Stockholders' deficit:
Preferred stock, $0.001 par value, 10,000,000 authorized, 110,000 Series A and none issued and outstanding, respectively	110
Common stock, $0.001 par value; 100,000,000 authorized, 33,772,970 and 32,646,635 issued and outstanding, respectively	33,774	32,647
Additional paid-in capital	12,604,060	12,318,685
Accumulated deficit	(13,439,090)	(12,833,496)
Total stockholders' deficit	(801,146)	(482,164)
Total liabilities and stockholder' deficit	$ 5,471	$ 131,472

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2019	Mar. 31, 2019
Stockholders' deficit
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Series A preferred stock, shares authorized	110,000	110,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	33,772,970	32,646,635
Common stock, shares outstanding	33,772,970	32,646,635

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating expenses
General and administrative expense	$ 228,667	$ 298,512	$ 473,618	$ 626,300
Research and development	98,861	39,500	127,653	151,439
Loss from operations	(327,528)	(338,012)	(601,271)	(777,739)
Other income (expense):
Interest income	1	14	6	22
Interest expense	(4,329)		(4,329)
Total other income (expense)	(4,328)	14	(4,323)	22
Net loss	$ (331,856)	$ (337,998)	$ (605,594)	$ (777,717)
Net loss per share, basic and diluted	$ (0.01)	$ (0.01)	$ (0.02)	$ (0.03)
Weighted average number of shares outstanding, basic and diluted	33,572,695	29,773,807	33,176,663	28,950,329

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Preferred Stock Shares	Additional Paid-In Capital	Common Stock Shares	Accumulated Deficit
Balance, shares at Mar. 31, 2018				27,753,365
Balance, amount at Mar. 31, 2018	$ (86,379)		$ 11,350,456	$ 27,754	$ (11,464,589)
Common stock issued to related parties for service, shares				306,640
Net loss	$ (777,717)				$ (777,717)
Common stock and warrants issued for cash, shares				737,142
Common stock issued for warrant exercise, shares				1,665,710
Common stock issued for service, shares				70,000
Option expense	19,200		19,200
Common stock issued to related parties for service, amount	$ 85,476		$ 85,170	$ 306
Common stock and warrants issued for cash, amount	258,000		257,263	737
Common stock issued for warrant exercise, amount	83,285		81,619	1,666
Common stock issued for service, amount	27,500		27,430	$ 70
Balance, shares at Jun. 30, 2018				28,543,295
Balance, amount at Jun. 30, 2018	(332,068)		11,543,696	$ 28,544	(11,904,308)
Common stock issued for warrants, shares				1,304,996
Common stock issued for stock and warrants, shares				465,714
Common stock issued to related parties for service, shares				218,852
Option discount	9,600		9,600
Net loss	(227,998)				(337,998)
Common stock issued for warrants	65,250		63,945	1,305
Common stock issued for stock and warrants, amount	163,000		162,534	466
Common stock issued to related parties for service, amount	41,581		41,363	$ 218
Balance, shares at Sep. 30, 2018				30,532,857
Balance, amount at Sep. 30, 2018	(390,635)		11,821,138	$ 30,533	(12,242,306)
Balance, shares at Mar. 31, 2019				32,646,635
Balance, amount at Mar. 31, 2019	(482,164)		12,318,685	$ 32,647	(12,833,496)
Common stock issued to related parties for service, shares				165,372
Net loss	$ (605,594)				$ (605,594)
Common stock issued for warrant exercise, shares				21,427
Common stock issued for service, shares				300,000
Preferred shares issued for cash, shares		110,000
Common stock issued related parties for AP settlement, shares				639,536
Preferred shares issued for cash, amount	$ 110,000	$ 110	$ 109,890
Common stock issued to related parties for service, amount	29,241		29,075	$ 166
Common stock issued for warrant exercise, amount	1,071		1,050	21
Common stock issued for service, amount	47,300		47,000	300
Common stock issued related parties for AP settlement, amount	99,000		98,360	$ 640
Balance, shares at Jun. 30, 2019				33,495,470
Balance, amount at Jun. 30, 2019	(620,560)		12,453,178	$ 33,496	(13,107,234)
Common stock issued to related parties for service, shares				27,500
Net loss	$ (331,856)				$ (331,856)
Common stock issued for service, shares				250,000
Preferred shares issued for cash, shares		110,000
Preferred shares issued for cash, amount	$ 110,000	$ 110	$ 109,890
Common stock issued to related parties for service, amount	3,520		3,492	$ 28
Common stock issued for service, amount	37,750		37,500	$ 250
Balance, shares at Sep. 30, 2019		110,000		33,772,970
Balance, amount at Sep. 30, 2019	$ (801,146)	$ 110	$ 12,604,060	$ 33,774	$ (13,439,090)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net loss	$ (605,594)	$ (777,717)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	76,541	112,976
Option expense		19,200
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	151,271	262,434
Due to related parties	140,710	35,000
Net cash used in operating activities	(237,072)	(348,107)
Cash flows from financing activities:
Common stock issued for exercise of warrants	1,071	83,285
Proceeds from the sale of preferred shares for cash	110,000
Proceeds from sale of common stock and warrants		258,000
Net cash provided by financing activities	111,071	341,285
Net decrease in cash	(126,001)	(6,822)
Cash -beginning of year	131,472	116,994
Cash -end of period	5,471	110,172
SUPPLEMENT DISCLOSURES:
Interest paid
Income taxes paid
Non Cash Transactions
Common stock issued for accrued expenses- related party	$ 99,000

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	6 Months Ended
	Sep. 30, 2019
ORGANIZATION AND NATURE OF OPERATIONS
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. On December 7, 2018 the Company received a letter from the FDA allowing it to use a specific lot of drug substance to begin phase 1 clinical trials. The FDA also requested additional data to remove the partial clinical hold. The Company is 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 July 10, 2019 the Company filed an amended articles of Incorporation designating 1,500,000 shares of preferred stock as Series A Convertible preferred shares convertible into common stock. On August 9, 2019 the Company signed a contract for clinical phase 1 studies with west coast clinic.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2019
BASIS OF PRESENTATION
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 three and six months ended September 30, 2019 and 2018 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, 2019. 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. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases. The main provisions of ASU No. 2016-02 require management to recognize lease assets and lease liabilities for all leases. ASU 2016-02 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous release’s guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous U.S. GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements and related disclosures.

GOING CONCERN

GOING CONCERN	6 Months Ended
	Sep. 30, 2019
GOING CONCERN
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 has a working capital deficit and has incurred losses from operations. 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, 2019
RELATED PARTY TRANSACTIONS
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, 2019: Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 681,476 1,710,386 Chief Financial Officer 617,346 411,693 1,029,039 Executive Vice President 617,346 411,693 1,029,039 Total 2,263,602 1,504,862 3,768,464 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, 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 to officers of the Company. On June 5, 2019, two officers and directors of the Company converted $99,000 of accrued fees into 639,536 shares of common stock at $0.1548 per share. On July 11, 2019 an officer and director of the Company advanced the Company $10,000. The advance was on demand and bears no interest. On July 26, 2019 the Company repaid the $10,000 advance to the officer and director of the Company. During the six months ended September 30, 2019 the Company issued 165,372 shares of common stock to three officers and a director for service with a value of $29,241. During the six month period ended September 30, 2019 the Company paid the related parties (three officers and directors) $59,000 in consulting fees in cash and accrued $120,710 of the consulting fees for a total of $179,710. In addition $6,209 in expenses were accrued for the related parties. During the six months period ended September 30, 2019, Company paid $4,000 plus had an outstanding accrual of $9,000 with a related party and Chairman of the Scientific Board. During the same period in 2018, Company paid the same related party $9,000 in consulting fees and accrued $6,000 of the fees.

EQUITY

EQUITY	6 Months Ended
	Sep. 30, 2019
EQUITY
NOTE 5 - EQUITY	Preferred Stock On July 25, 2019 the Company issued 110,000 shares of series A convertible preferred to one entity with a value of $110,000 for cash. Each share of series A preferred is convertible after 180 days to four shares of common stock or at the lowest of: (i) the fixed conversion price; (ii) the equitant of 70% of the lowest closing price for the 20 days prior to the conversion of the preferred shares and accumulates 7% interest annually. Common Stock 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. On June 5, 2019, two officers and directors of the Company converted $99,000 of accrued fees into 639,536 shares of common stock at $0.1548 per share. During June 2019, two warrant holders exercised 21,427 warrants for common stock at $0.05 per share for cash of $1,071. During the six months period ended September 30, 2019 Company issued 300,000 shares of common stock to two entities with a value of $47,300 for service. During the six months ended September 30, 2019 the Company issued 165,372 shares of common stock to three officers and a director for service with a value of $29,241.

OPTIONS

OPTIONS	6 Months Ended
	Sep. 30, 2019
OPTIONS
NOTE 6 - OPTIONS	As of September 30, 2019 there was no option expenses recognized by the Company and the balance of unrecognized option expense was zero. The following sets forth the options granted and outstanding during the six months ended September 30, 2019: Options Weighted Average Exercise Price Weighted Average Remaining Contract Life Number of Options Exercisable Intrinsic Value Outstanding at March 31, 2019 1,405,000 $ 0.34 6.80 1,397,000 $ -- Granted -- -- -- -- -- Exercised -- -- -- -- -- Outstanding at September 30, 2019 1,405,000 $ 0.34 6.55 1,397,000 $ -- The weighted average remaining life and intrinsic value of the options as of September 30, 2019, was 6.55 years and zero, respectively.

WARRANTS

WARRANTS	6 Months Ended
	Sep. 30, 2019
WARRANTS
NOTE 7 - WARRANTS	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. During the six months ended September 30, 2019 two individuals exercised 21,427 warrants into 21,427 shares of common stock for cash of $1,071. As of September 30, 2019 the Company had a total of 109,276 warrants outstanding. During the six months ended September 30, 2019 216,320 warrants expired. The weighted average remaining life and intrinsic value of the warrants as of September 30, 2019 was zero. Weighted Weighted Average Average Remaining Exercise Contract Intrinsic Warrants Price Life Value Outstanding at March 31, 2019 237,747 $ 0.20 0.25 $ 18,470 Granted -- -- -- -- Exercised (21,427 ) 0.05 -- -- Expired (216,320 ) (0.05 ) -- -- Outstanding at September 30, 2019 -- $ 0.00 0.00 $ --

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2019
COMMITMENTS AND CONTINGENCIES
NOTE 8 - 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. As of September 30, 2019 $100,000 was due for the annual maintenance fee.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2019
SUBSEQUENT EVENTS
NOTE 9 - SUBSEQUENT EVENTS	On November 14, 2019 an Officer and Director of the Company advanced the Company $10,000. The advance is on demand and bears no interest.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Sep. 30, 2019
BASIS OF PRESENTATION
Recent Accounting Pronouncements	In February 2016, the FASB issued ASU No. 2016-02, Leases. The main provisions of ASU No. 2016-02 require management to recognize lease assets and lease liabilities for all leases. ASU 2016-02 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous release’s guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous U.S. GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements and related disclosures.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Sep. 30, 2019
RELATED PARTY TRANSACTIONS (Tables)
Schedule of total shares earned by related party	Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 681,476 1,710,386 Chief Financial Officer 617,346 411,693 1,029,039 Executive Vice President 617,346 411,693 1,029,039 Total 2,263,602 1,504,862 3,768,464
Schedule of annual salary and annual severance amounts	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, 2019
OPTIONS (Tables)
Schedule 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, 2019 1,405,000 $ 0.34 6.80 1,397,000 $ -- Granted -- -- -- -- -- Exercised -- -- -- -- -- Outstanding at September 30, 2019 1,405,000 $ 0.34 6.55 1,397,000 $ --

WARRANTS (Tables)

WARRANTS (Tables)	6 Months Ended
	Sep. 30, 2019
WARRANTS (Tables)
Schedule of warrants	Weighted Weighted Average Average Remaining Exercise Contract Intrinsic Warrants Price Life Value Outstanding at March 31, 2019 237,747 $ 0.20 0.25 $ 18,470 Granted -- -- -- -- Exercised (21,427 ) 0.05 -- -- Expired (216,320 ) (0.05 ) -- -- Outstanding at September 30, 2019 -- $ 0.00 0.00 $ --

ORGANIZATION AND NATURE OF OP_2

ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative) - shares	6 Months Ended
	Sep. 30, 2019	Jul. 10, 2019	Mar. 31, 2019
Date of Incorporation	Mar. 3, 2014
State of Incorporation	Nevada
Preferred stock shares authorized	10,000,000		10,000,000
Series A Convertible Preferred Stock [Member]
Preferred stock shares authorized		1,500,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	6 Months Ended
	Sep. 30, 2019shares
Initial Share Awards Under the Contracts	2,263,602
Additional Shares Earned to Maintain Ownership Percentage	1,504,862
Total Shares Earned	3,768,464
President [Member]
Initial Share Awards Under the Contracts	1,028,910
Additional Shares Earned to Maintain Ownership Percentage	681,476
Total Shares Earned	1,710,386
Chief Financial Officer [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	411,693
Total Shares Earned	1,029,039
Executive Vice President [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	411,693
Total Shares Earned	1,029,039

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1)	6 Months Ended
	Sep. 30, 2019USD ($)
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 ($)	1 Months Ended		6 Months Ended
	Jul. 26, 2019	Jun. 05, 2019	Sep. 30, 2019	Sep. 30, 2018	Jul. 11, 2019	Sep. 30, 2017
Accrued consulting fees			$ 6,000	$ 32,000
Related party and Chairman of the Scientific Board [Member]
Accrued consulting fees				6,000
Consulting fees, paid			4,000	9,000
Outstanding accrual fees			9,000
Officer and Director [Member]
Accrued consulting fees			120,710	3,000
Consulting fees, paid			59,000	$ 12,000
Total consulting fees, paid			$ 179,710			$ 30,000
Due to related party					$ 10,000
Repayment of related party debt	$ 10,000
Three Officers [Member]
Common shares issued for services, shares			306,640	306,640
Common shares issued for services, value			$ 85,476	$ 85,476
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.
Two Officers And Directors [Member]
Common stock shares issued upon conversion of accrued fees		639,536
Conversion price		$ 0.1548
Amount of accrued fees converted		$ 99,000

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	1 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 05, 2019	Sep. 30, 2019	Sep. 30, 2018
Common stock and warrants issued, value				$ 83,285
Two warrant holders [Member]
Proceeds from exercise of warrants	$ 1,071		$ 1,071
Exercise price of warrants	$ 0.05		$ 0.05
Warrants exercised	21,427
Series A Preferred shares [Member]
Common shares issued, shares				110,000
Preferred stock vesting description				Each share of series A preferred is convertible after 180 days to four shares of common stock or at the lowest of: (i) the fixed conversion price; (ii) the equitant of 70% of the lowest closing price for the 20 days prior to the conversion of the preferred shares and accumulates 7% interest annually.
Preferred stock issued, value				$ 110,000
Three Officers [Member]
Common shares issued for services, shares			306,640	306,640
Common shares issued for services, amount			$ 85,476	$ 85,476
Two Officers And Directors [Member]
Amount of accrued fees converted		$ 99,000
Conversion price		$ 0.1548
Common stock shares issued upon conversion of accrued fees		639,536
Eight Individuals [Member]
Class of warrants or rights issued				237,747
Common stock and warrants issued, value				$ 258,000
Common shares issued, shares				737,142
Eight Individuals [Member] | Maximum [Member]
Conversion price of shares				$ 0.50
Two Entities [Member]
Common shares issued for services, amount			$ 47,300
Common shares issued for services, shares			300,000
Two individual [Member]
Common shares issued for services, amount				$ 27,500
Common shares issued for services, shares				70,000
Three Officers And Director [Member]
Common shares issued for services, shares			165,372
Common shares issued for services, amount			$ 29,241

OPTIONS (Details)

OPTIONS (Details) - Options [Member]	6 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Number of options
Outstanding option, Beginning	1,405,000
Outstanding option, granted
Outstanding option, Exercised
Outstanding option, Ending	1,405,000
Weighted average exercise price
Weighted average exercise price, Beginning | $ / shares	$ 0.34
Weighted average exercise price, Granted | $ / shares
Weighted average exercise price, Exercised | $ / shares
Weighted average exercise price, Ending | $ / shares	$ 0.34
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	6 years 9 months 18 days
Weighted Average Remaining Contract life, Ending	6 years 6 months 18 days
Number of option exercisable
Number of option exercisable, Beginning	1,397,000
Number of option exercisable, Ending	1,397,000
Intrinsic value
Intrinsic value, Beginning | $
Intrinsic value, Ending | $

OPTIONS (Details Narrative)

OPTIONS (Details Narrative)	6 Months Ended
	Sep. 30, 2019USD ($)
OPTIONS (Details Narrative)
Weighted average remaining contract life, Ending	6 years 6 months 18 days
Weighted average intrinsic value	$ 0

Warrants (Details)

Warrants (Details)	6 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Number of warrants
Outstanding warrants, Beginning | shares	237,747
Outstanding warrants, granted | shares
Outstanding warrants, Exercised | shares	(21,427)
Outstanding warrants, Expired | shares	(216,320)
Outstanding warrants, Ending | shares
Weighted average exercise price
Weighted average exercise price, Beginning | $ / shares	$ 0.20
Weighted average exercise price, Granted | $ / shares
Weighted average exercise price, Exercised | $ / shares	0.05
Weighted average exercise price, Expired | $ / shares	(0.05)
Weighted average exercise price, Ending | $ / shares	$ 0
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	2 months 30 days
Weighted Average Remaining Contract life, Ending
Intrinsic value
Intrinsic value, Beginning | $	$ 18,470
Intrinsic value, Ending | $

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Jun. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Two warrant holders [Member]
Warrants exercised		21,427
Proceeds from exercise of warrants	$ 1,071	$ 1,071
Exercise price of warrants	$ 0.05	$ 0.05
Warrant [Member]
Warrants exercisable period		1 year
Warrants exercised		(21,427)	1,665,710
Warrants issued, shares		237,747
Common shares issued upon exercise of warrants, value			$ 83,285
Common shares issued upon exercise of warrants			1,665,710
Outstanding warrants		109,276	511,975
Warrants expired, shares		216,320
Warrant [Member] | Maximum [Member]
Exercise price of warrants		$ 0.50
Warrant [Member] | Minimum [Member]
Exercise price of warrants		$ 0.05

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	6 Months Ended
	Sep. 30, 2016	Sep. 30, 2019
Contingent sales fee description	A contingent sales fee upon first commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.
Annual maintenance fee payable		$ 100,000
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

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Nov. 14, 2019	Sep. 30, 2019	Jul. 11, 2019	Mar. 31, 2019
Preferred stock, shares authorized		10,000,000		10,000,000
Officer and Director [Member]
Due to related party			$ 10,000
Subsequent Event [Member] | Officer and Director [Member]
Due to related party	$ 10,000