Nascent Biotech (NBIO) 10-K 22 Jun 20 2020 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Mar. 31, 2020	Jun. 22, 2020	Sep. 30, 2019
Cover [Abstract]
Entity Registrant Name	Nascent Biotech Inc.
Entity Central Index Key	0001622057
Document Type	10-K
Amendment Flag	false
Entity Voluntary Filers	No
Current Fiscal Year End Date	--03-31
Entity Well Known Seasoned Issuer	No
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		48,270,637
Entity Public Float			$ 3,135,139
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Current assets:
Cash	$ 3,218	$ 131,472
Total current assets	3,218	131,472
Total assets	3,218	131,472
Current liabilities:
Accounts payable and accrued expense	852,664	525,636
Convertible note- net of discount	88,815	0
Derivative liability	603,836	0
Note payable	50,000	0
Due related parties	1,283,607	88,000
Total current liabilities	2,878,922	613,636
Total liabilities	2,878,922	613,636
Commitments and Contingencies	0	0
Stockholders' equity:
Preferred stock, $0.001 par value, 10,000,000 authorized, 60,000 Series A and zero issued and outstanding, respectively	60	0
Common stock, $0.001 par value, 100,000,000 authorized, 44,890,262 and 32,646,635 issued and outstanding, respectively	44,890	32,647
Additional paid-in capital	13,916,995	12,318,685
Accumulated deficit	(16,837,649)	(12,833,496)
Total stockholders' equity (deficit)	(2,875,704)	(482,164)
Total liabilities and stockholders' equity	$ 3,218	$ 131,472

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	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	60,000	60,000
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	44,890,262	32,646,635
Common stock, shares outstanding	44,890,262	32,646,635

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 0	$ 0
Operating expenses:
Consulting expense	2,832,672	667,437
General and administrative expense	320,930	447,505
Research and development	293,709	254,006
Income (loss) from operations	(3,447,311)	(1,368,948)
Other income (expense):
Interest income	6	41
Interest expense	(86,632)	0
Loss on change in fair value of derivative liabilities	(470,216)	0
Total other expense	(556,848)	41
Net income (loss) before income tax	(4,004,153)	(1,368,907)
Income tax	0	0
Net income (loss)	$ (4,004,153)	$ (1,368,907)
Net income (loss) per share, basic and diluted	$ (0.12)	$ (0.05)
Weighted average number of shares outstanding, basic and diluted	34,392,716	30,090,416

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT) - USD ($)	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance, shares at Mar. 31, 2018		27,753,365
Balance, amount at Mar. 31, 2018	$ (86,379)	$ 27,754	$ 0	$ 11,350,456	$ (11,464,589)
Net loss	(1,368,907)	$ 0	$ 0	0	$ (1,368,907)
Common stock issued for cash, Shares		2,277,142
Common stock issued for cash, Amount	643,000	$ 2,277	$ 0	640,723
Common stock issued to related parties for service, Shares		600,418
Common stock issued to related parties for service, Amount	130,536	$ 600	$ 0	129,936
Common stock issued for warrant exercise, Shares		1,665,710
Common stock issued for warrant exercise, Amount	83,286	$ 1,666	$ 0	81,620
Common stock issued for service, Shares		350,000
Common stock issued for service, Amount	77,550	$ 350	$ 0	77,550
Option expense	$ 38,400		$ 0	$ 38,400
Balance, shares at Mar. 31, 2019		32,646,635
Balance, amount at Mar. 31, 2019	$ (482,164)	$ 32,647	$ 0	$ 12,318,685	$ (12,833,496)
Net loss	(4,004,153)	$ 0	$ 0	0	$ (4,004,153)
Common stock issued for cash, Shares		1,350,000
Common stock issued for cash, Amount	115,000	$ 1,350	$ 0	113,650
Common stock issued to related parties for service, Shares		1,345,522
Common stock issued to related parties for service, Amount	176,422	$ 1,345	$ 0	175,077
Common stock issued for warrant exercise, Shares		21,427
Common stock issued for warrant exercise, Amount	1,071	$ 21	$ 0	1,050
Common stock issued for service, Shares		6,300,000
Common stock issued for service, Amount	927,300	$ 6,300	$ 0	921,000
Option expense	0
Common stock issued for the conversion of preferred shares, Shares		757	(50,000)
Common stock issued for the conversion of preferred share, Amount		$ 757	$ (50)	(707)
Financing cost	(12,500)		$ 0	(12,500)
Common stock issued accrued payables - related party, Shares		2,469,536
Common stock issued accrued payables - related party, Amount	293,320	$ 2,470	$ 0	290,850
Preferred shares issued, Shares			110,000
Preferred shares issued, Amount	$ 110,000		$ 110	$ 109,890
Balance, shares at Mar. 31, 2020		44,890,262	60,000
Balance, amount at Mar. 31, 2020	$ (2,875,704)	$ 44,890	$ 60	$ 13,916,995	$ (16,837,649)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net loss	$ (4,004,153)	$ (1,368,907)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation	927,300	208,436
Stock based compensation- related parties	176,422	0
Option expense	0	38,400
Change in fair value of derivative liabilities	470,216	0
Debt discount	61,185	0
Financing cost	(1,250)	0
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	327,028	322,263
Due to related parties	1,488,927	88,000
Net cash used in operating activities	(554,325)	(711,808)
Cash flows from financing activities:
Proceeds from sale of common stock and warrants	0	643,000
Proceeds from the sale of common stock	115,000	0
Proceeds from convertible note	150,000	0
Proceeds from notes payable	50,000	0
Proceeds from the issuance of preferred shares	110,000	0
Common stock issued for warrants exercised	1,071	83,286
Net cash provided by financing activities	426,071	726,286
Net increase (decrease) in cash	(128,254)	14,478
Cash - beginning of year	131,472	116,994
Cash - end of year	3,218	131,472
SUPPLEMENT DISCLOSURES:
Interest paid	0	0
Income taxes paid	0	0
NON MONETARY TRANSACTIONS
Common stock issued for payables - related parties	282,000	0
Common stock issued for retiring preferred shares	$ 757	$ 0

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	12 Months Ended
	Mar. 31, 2020
ORGANIZATION AND NATURE OF OPERATIONS
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. Nascent is a 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. The Company has contracted to open Phase 1 clinical studies during the third quarter of this calendar year.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2020
SIGNIFICANT ACCOUNTING POLICIES
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. The Company as of March 31, 2020 did not have any cash equivalents. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the periods. The extent to which the COVID-19 pandemic may directly or indirectly impact our business, financial condition, and results of operations is highly uncertain and subject to change. We considered the potential impact of the COVID-19 pandemic on our estimates and assumptions and there was not a material impact to our consolidated financial statements as of and for the year ended March 31, 2020. Actual results could differ from estimates making it reasonably possible that a change in the estimates could occur in the near term. 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, 2019 and 2020, the Company had zero 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. 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, 2019 and 2020, 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, 2019 and 2020. 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, 2020 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. 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. The following table summarizes the change in the fair value of the derivative liabilities during the years ended March 31, 2020 and 2019: Fair value as of March 31, 2018 $ -- Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value -- Fair value as of March 31, 2019 $ -- Additions at fair value 133,620 Transfers in (out) of Level 3 -- Change in fair value 470,216 Fair value as of March 31, 2020 $ 603,836 Recent Accounting Pronouncements Stock-Based Compensation In June 2018, the FASB issued an ASU that expanded the scope of Topic 718, Compensation–Stock Compensation, to include share-based payments to nonemployees in exchange for goods and services. That ASU substantially aligned the accounting for share-based payments to nonemployees and employees. However, it required share-based payments to nonemployee customers to be accounted for under Topic 606, Revenue from Contracts with Customers, as a reduction of revenue, similar to other sales incentives To address diversity in these areas, the new guidance requires companies to measure and classify (on the balance sheet) share-based payments to customers by applying the guidance in Topic 718. As a result, the amount recorded as a reduction in revenue would be measured based on the grant-date fair value of the share-based payment. ASU No. 2019-08 is effective for entities that have not yet adopted the amendments in ASU No. 2018-07, the amendments in ASU No. 2019-08 are effective for public business entities in fiscal years beginning after December 15, 2019. As the Company has no revenue, this pronouncement will not have any effect on the financial statements.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Mar. 31, 2020
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, as shown in the accompanying consolidated balance sheets, has working capital deficit of $2,875,704 and an accumulated deficit of $16,837,649 as of March 31, 2020. 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, 2020
RELATED PARTY TRANSACTIONS
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, 2020: Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 1,218,084 2,246,994 Chief Financial Officer 617,346 733,553 1,350,899 Executive Vice President 617,346 733,553 1,350,899 Total 2,263,602 2,685,190 4,948,792 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 Compensation per Contract for Fiscal Year President (3) $ 186,000 $ 250,000 Chief Financial Officer (1) $ 132,000 $ 180,000 Executive Vice President (2) $ 84,000 $ 140,000 Total $ 402,000 $ 570,000 For the year ended March 31, 2020: (1) The Chief Financial Officer was paid $29,000 in cash and accrued $151,000 in fees (2) The Executive Vice President was paid $6,000 in cash and accrued $134,000 in fees (3) The President and Chief Executive Officer was paid $105,000 in cash and accrued $145,000 in fees. During the years ended March 31, 2019, the Company paid a consultant and former officer of the Company $23,000 and accrued $7,000 in consulting fees. During the year ended March 31, 2019, the Company issued 600,418 shares of common stock to three officers with a fair value of $130,536 for services and compensation During the year ended March 31, 2020, three officers and directors and the chairman of the Scientific Board of the Company converted $293,320 of accrued fees into 2,469,536 shares of common stock at $0.10- $0.1725 per share. As of March 31, 2019, the Company had $88,000 due to officers and directors. During the year ended March 31, 2020 an officer and director of the Company advanced the Company $37,620, $4,250 in cash and $33,370 in payment of accounts payable bills. As of March 31, 2020 the officer and director is owed $21,876. During the year ended March 31, 2020, the Company issued 1,345,522 shares of common stock to three officers and a director for service with a value of $176,422. For the year ended March 31, 2020 the Company paid the related parties (three officers and directors) $140,000 in consulting fees in cash and accrued $430,000 of the consulting fees for a total of $570,000. In addition $26,226 in expenses were accrued for the related parties. During the year ended March 31, 2020 the Company accrued an additional $854,926 in fees for three officers and directors for the difference of the amount they received or accrued and the amount required per their employment contracts from the inception of the contracts for a balance due related parties of $1,283,607 as of March 31, 2020 compared to $ 88,000 for the same period in 2019.

LICENSE SETTLEMENT

LICENSE SETTLEMENT	12 Months Ended
	Mar. 31, 2020
LICENSE SETTLEMENT
NOTE 5 - LICENSE SETTLEMENT	On October 12, 2017, the Company signed a consulting agreement with a former license holder. Under the terms of the agreement the Company, commencing February 1, 2018 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 forgave all royalty payments plus any past claims to the product per the previous agreement dated September 21, 2015, plus provide consulting services to the Company as directed by the Company. As of March 31, 2020, the consultant is owed $25,000 .

EQUITY

EQUITY	12 Months Ended
	Mar. 31, 2020
EQUITY
NOTE 6 - EQUITY	Preferred Stock On July 10, 2019, the Company filed an amended articles of Incorporation designating 1,500,000 shares of preferred stock as Series A non-voting Convertible preferred shares convertible into common stock at four shares of common for each one share of preferred. On July 25, 2019, the Company issued 110,000 shares at $1.00 per share of series A convertible preferred to one entity with a value of $110,000 for cash. As part of the issuance, the Company incurred a fee of $12,500 which was offset against paid in capital. Each share of series A preferred is convertible after 180 days to four shares of common stock ($0.25 per share) 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 accrues 7% interest annually. During the year ended March 31, 2020, the Company redeemed 50,000 preferred shares for 757,142 shares of common stock Common Stock During the year ended March 31, 2019 the Company issued 1,277,142 shares of common stock to 15 individuals plus 237,747 warrants to eight individuals for $393,000 in cash. The warrants vest immediately and terminate in one year with conversion prices ranging from $0.05-$0.50. During the year ended March 31, 2019 the Company issued 1,000,000 shares of common stock to one individual for cash of $250,000. During year ended March 31, 2019 the Company issued 1,665,710 shares of common stock for the exercise of 1,665,710 warrants for cash of $83,286. During the year ended March 31, 2019 the Company issued 350,000 shares of common stock of the Company to six individuals with a value of $77,900 for service. During the year ended March 31, 2019 the Company issued 600,418 shares of common stock to three officers of the Company with a value of $130,536 for service. During the year ended March 31, 2020, three officers and directors and the chairman of the Scientific Board of the Company converted $293,320 of accrued fees into 2,469,536 shares of common stock at $0.10-$0.17 per share. During the year ended March 31, 2020 the Company issued 1,350,000 shares of common stock with a value of $115,000 for cash. During the year ended March 31, 2020 the Company issued 1,345,422 shares of common stock to three officers and a director for service with a value of $176,422. During the year ended March 31, 2020, two warrant holders exercised 21,427 warrants for common stock at $0.05 per share for cash of $1,071. During the year ended March 31, 2020 the Company issued 6,300,000 shares of common stock with a value of $927,300 for service. During the year ended March 31, 2020 the Company issued 757,142 share of common stock for the conversion of 50,000 shares of preferred stock.

OPTIONS

OPTIONS	12 Months Ended
	Mar. 31, 2020
OPTIONS
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. In addition, the consultant received 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. On April 1, 2018, the Company granted from the 2015 Option Program 40,000 options to one consultant. The options are exercisable into the Company’s common stock at an exercise price of $0.25 per share and were vested and expensed at the date of issuance. The fair value at date of granted was determined to be $9,991. During the years ended March 31, 2019 and 2020, the Company expensed an aggregate of $38,400 and zero, respectively related to its option awards. The unrecognized future balance to be expensed over the remaining vesting term of the options is zero as of March 31, 2020 and $497 as of March 31, 2019. The following sets forth the options granted and outstanding during the years ended March 31, 2020 and 2019: 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 9.00 16,000 -- Exercised -- -- -- -- -- Outstanding at March 31, 2019 1,405,000 $ 0.34 6.80 1,397,000 $ -- Granted Exercised Outstanding at March 31, 2020 1,405,000 $ .34 5.80 1,405,000 $ --

WARRANTS

WARRANTS	12 Months Ended
	Mar. 31, 2020
OPTIONS
NOTE 8 - WARRANTS	During the year ended March 31, 2019, the Company issued 237,747 warrants for cash proceeds in stock and warrants. 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. S Note 6- Equity) During the year ended March 31, 2019 seventeen individuals exercised 1,665,710 warrants into 1,665,710 shares of common stock for cash of $83,286. As of March 31, 2019, the Company had total outstanding warrants of 237,747. During the year ended March 31, 2019, 274,084 warrants expired. During the year ended March 31, 2020 two individuals exercised 21,427 warrants into 21,427 shares of common stock for cash of $1,071. During the year ended March 31, 2020, 216,320 warrants expired. The weighted average remaining life and intrinsic value of the warrants as of March 31, 2020 was zero. Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Life Intrinsic Value Outstanding at March 31, 2018 1,939,794 $ 0.09 .38 $ 333,133 Granted 237,747 0.20 .87 -- Expired (274,084 ) (0.35 ) -- -- Exercised (1,665,710 ) 0.05 -- -- Outstanding at March 31, 2019 237,747 $ 0.20 .25 $ 18,470 Granted -- -- -- -- Exercised (21,427 ) 0.05 Expired (216,320 ) 0.05 Outstanding at March 31, 2020 -- $ 0.00 0.00 $ -- As of March 31, 2020 there were no warrants outstanding.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2020
INCOME TAXES
NOTE 9 - INCOME TAXES	At March 31, 2020 and 2019, the Company had federal net operating loss carry forwards of approximately $11,293,780 and $8,395,599, respectively. Components of net deferred tax assets, including a valuation allowance, are as follows at March 31, 2020 and 2019: March 31, 2020 March 31, 2019 Deferred tax assets: Net operating loss $ 2,371,694 $ 1,763,076 Less: Valuation allowance (2,371,694 ) (1,763,076 ) 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 Company’s policy is to recognize stock based compensation and interest accrued related to unrecognized tax benefits in expenses and penalties in operating expenses 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, 2020. Based on the recent change in corporation tax rates the Company calculated the deferred tax asset for the years ended March 31, 2020 and 2019 at 21%. The parent Company due to its loses has not filed US Corporate tax returns and is subject to examination back to March 31, 2015.

CONVERTIBLE DEBT

CONVERTIBLE DEBT	12 Months Ended
	Mar. 31, 2020
LICENSE SETTLEMENT
NOTE 10 - CONVERTIBLE DEBT	On December 31, 2019, the Company signed a guaranteed interest rate of 7% Convertible note for $161,250 with an OID of $11,250. The note was funded on January 3, 2020 . The note is convertible into common stock of the Company after 180 days at the rate of 60% of the lowest trading price for twenty days prior to conversion or $0.078 whichever is lower. The note may be repaid to the issuer within 180 days from issuance at variable premium rates of 115% to 135% above face value calculated on the outstanding face value of the note plus guaranteed interest.

FAIR VALUE MEASUREMENTS AND DER

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES	12 Months Ended
	Mar. 31, 2020
FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES
NOTE 11 - FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES	As defined in (Financial Accounting Standards Board ASC 820), fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The Company utilized the market data of similar entities in its industry or assumptions that market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs can be readily observable, market corroborated, or generally unobservable. The Company classifies fair value balances based on the observability of those inputs. FASB ASC 820 establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to unobservable inputs (level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 – Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities, and listed equities. Level 2 – Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date and includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options, and collars. Level 3 – Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value As of March 31, 2020, the Company believes the amounts reported for cash, payables, accrued liabilities and amounts due to related parties approximate their fair values due to the nature or duration of these instruments. The following table represents the change in the fair value of the derivative liabilities during the year ended March 31, 2020: Level 1 Level 2 Level 3 Fair value of derivative liability as of March 31, 2019 $ -- $ -- $ -- Debt discount related to new debt -- -- 133,620 Change in fair value of the derivative -- -- 470,216 -- -- Balance at March 31, 2020 $ -- $ -- $ 603,836 The estimated fair value of the derivative liabilities at March 31, 2020 was calculated using the Binomial Lattice pricing model with the following assumptions: Risk-free interest rate 1.80 % Expected life in years 0.25 Dividend yield 0 % Expected volatility 214.00 %

NOTE PAYABLE

NOTE PAYABLE	12 Months Ended
	Mar. 31, 2020
NOTE PAYABLE
NOTE 12 - NOTE PAYABLE	On March 25, 2020, the Company issued a secured note with face value of $50,000. The note matures on July 24, 2020 and bears interest at 7% per annum. In the event of a default the obligation increase to 150% of the outstanding balance and the interest rate increases to 12%.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
NOTE 13 - 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. As of March 31, 2020 the Company accrued $100,000 of maintenance fees plus interest of $28,000 for a total of $128,000. On March 9, 2020 the Company by action of the Board of Directors, adopted an Expense Bonus Agreement whereby, at the sale of the Company, ten percent of the sale price will be allocated to direct expenses of the transaction with any unused balance being allocated at 80% to officers and employees and 20% to directors.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2020
SUBSEQUENT EVENTS
NOTE 14 - SUBSEQUENT EVENTS	In April and May 2020, the Company issued 790,279 shares of common stock for the conversion of 35,000 shares of Series A preferred shares plus expenses of $3,000. In April and May 2020, the Company issued 185,000 shares of common stock to 4 individuals with a value of $29,900 for service. On May 6, 2020, the Company issued a secured note with face value of $50,000. The note matures on September 5, 2020 and bears interest at 7% per annum. In the event of a default the obligation increase to 150% of the outstanding balance and the interest rate increases to 12%. On May 14, 2020, the Company issued 1,952,381 shares of common stock to two officers and directors with a value of $200,000 for debt due the officers. On May 12, 2020, the Company issued 417,000 shares of common stock with a value of $50,000 as partial payment for a contractual agreement to commence laboratory studies for the Company. On June 6, 2020, the Company issued 35,715 shares of common stock to one entity with a value of $5,000 for accounts payable.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2020
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. The Company as of March 31, 2020 did not have any cash equivalents.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the periods. The extent to which the COVID-19 pandemic may directly or indirectly impact our business, financial condition, and results of operations is highly uncertain and subject to change. We considered the potential impact of the COVID-19 pandemic on our estimates and assumptions and there was not a material impact to our consolidated financial statements as of and for the year ended March 31, 2020. Actual results could differ from estimates making it reasonably possible that a change in the estimates could occur in the near term.
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, 2019 and 2020, the Company had zero 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.
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, 2019 and 2020, 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, 2019 and 2020.
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, 2020 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.
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. The following table summarizes the change in the fair value of the derivative liabilities during the years ended March 31, 2020 and 2019: Fair value as of March 31, 2018 $ -- Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value -- Fair value as of March 31, 2019 $ -- Additions at fair value 133,620 Transfers in (out) of Level 3 -- Change in fair value 470,216 Fair value as of March 31, 2020 $ 603,836
Recent Accounting Pronouncements Stock-Based Compensation	In June 2018, the FASB issued an ASU that expanded the scope of Topic 718, Compensation–Stock Compensation, to include share-based payments to nonemployees in exchange for goods and services. That ASU substantially aligned the accounting for share-based payments to nonemployees and employees. However, it required share-based payments to nonemployee customers to be accounted for under Topic 606, Revenue from Contracts with Customers, as a reduction of revenue, similar to other sales incentives To address diversity in these areas, the new guidance requires companies to measure and classify (on the balance sheet) share-based payments to customers by applying the guidance in Topic 718. As a result, the amount recorded as a reduction in revenue would be measured based on the grant-date fair value of the share-based payment. ASU No. 2019-08 is effective for entities that have not yet adopted the amendments in ASU No. 2018-07, the amendments in ASU No. 2019-08 are effective for public business entities in fiscal years beginning after December 15, 2019. As the Company has no revenue, this pronouncement will not have any effect on the financial statements.

ORGANIZATION AND NATURE OF OP_2

ORGANIZATION AND NATURE OF OPERATIONS (Tables)	12 Months Ended
	Mar. 31, 2020
ORGANIZATION AND NATURE OF OPERATIONS
Schedule net liabilities of Jin-En	Receivable from Biotech $ 60,000 Accounts payable (19,000 ) Convertible note (60,000 ) Net liabilities $ (19,000 )

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2020
SIGNIFICANT ACCOUNTING POLICIES
Summarizes of change in the fair value of the derivative liabilities	Fair value as of March 31, 2018 $ -- Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value -- Fair value as of March 31, 2019 $ -- Additions at fair value 133,620 Transfers in (out) of Level 3 -- Change in fair value 470,216 Fair value as of March 31, 2020 $ 603,836

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Mar. 31, 2020
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 1,218,084 2,246,994 Chief Financial Officer 617,346 733,553 1,350,899 Executive Vice President 617,346 733,553 1,350,899 Total 2,263,602 2,685,190 4,948,792
Schedule of annual salary and annual severance amounts	Officer and Director Annual Compensation Paid for Fiscal Year Annual Compensation per Contract for Fiscal Year President (3) $ 186,000 $ 250,000 Chief Financial Officer (1) $ 132,000 $ 180,000 Executive Vice President (2) $ 84,000 $ 140,000 Total $ 402,000 $ 570,000

OPTIONS (Tables)

OPTIONS (Tables)	12 Months Ended
	Mar. 31, 2020
OPTIONS
Summary of stock options aoutstanding	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 9.00 16,000 -- Exercised -- -- -- -- -- Outstanding at March 31, 2019 1,405,000 $ 0.34 6.80 1,397,000 $ -- Granted Exercised Outstanding at March 31, 2020 1,405,000 $ .34 5.80 1,405,000 $ --

WARRANTS (Tables)

WARRANTS (Tables)	12 Months Ended
	Mar. 31, 2020
OPTIONS
Summary of warrants outstanding	Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Life Intrinsic Value Outstanding at March 31, 2018 1,939,794 $ 0.09 .38 $ 333,133 Granted 237,747 0.20 .87 -- Expired (274,084 ) (0.35 ) -- -- Exercised (1,665,710 ) 0.05 -- -- Outstanding at March 31, 2019 237,747 $ 0.20 .25 $ 18,470 Granted -- -- -- -- Exercised (21,427 ) 0.05 Expired (216,320 ) 0.05 Outstanding at March 31, 2020 -- $ 0.00 0.00 $ --

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2020
INCOME TAXES
Summary of net deferred tax assets	March 31, 2020 March 31, 2019 Deferred tax assets: Net operating loss $ 2,371,694 $ 1,763,076 Less: Valuation allowance (2,371,694 ) (1,763,076 ) Net deferred tax assets $ -- $ --

FAIR VALUE MEASUREMENTS AND D_2

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Tables)	12 Months Ended
	Mar. 31, 2020
FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES
Fair value of the derivative liabilities	Level 1 Level 2 Level 3 Fair value of derivative liability as of March 31, 2019 $ -- $ -- $ -- Debt discount related to new debt -- -- 133,620 Change in fair value of the derivative -- -- 470,216 -- -- Balance at March 31, 2020 $ -- $ -- $ 603,836
Assumption to calculate fair value of liability	Risk-free interest rate 1.80 % Expected life in years 0.25 Dividend yield 0 % Expected volatility 214.00 %

ORGANIZATION AND NATURE OF OP_3

ORGANIZATION AND NATURE OF OPERATIONS (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Jul. 15, 2014
Convertible note	$ 88,815	$ 0
Jin-En Group International Holding Company [Member]
Receivable from Biotech	60,000
Accounts payable	(19,000)
Convertible note	(60,000)
Net liabilities	$ (19,000)		$ (19,000)

ORGANIZATION AND NATURE OF OP_4

ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Jul. 15, 2014
Common stock, issued shares
Common stock outstanding shares	44,890,262	32,646,635
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 POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
SIGNIFICANT ACCOUNTING POLICIES
Begnning Balance	$ 0	$ 0
Additions at fair value	133,620	0
Transfers in (out) of Level 3	0	0
Change in fair value	470,216	0
Ending Balance	$ 603,836	$ 0

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Mar. 31, 2020
Minimum [Member]
Property and equipment useful life	3 years
Maximum [Member]
Property and equipment useful life	5 years

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
GOING CONCERN
Working capital deficit	$ (2,875,704)
Accumulated Deficit	$ (16,837,649)	$ (12,833,496)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	12 Months Ended
	Mar. 31, 2020shares
Initial Share Awards Under the Contracts	2,263,602
Additional Shares Earned to Maintain Ownership Percentage	2,685,190
Total Shares Earned	4,948,792
President [Member]
Initial Share Awards Under the Contracts	1,028,910
Additional Shares Earned to Maintain Ownership Percentage	1,218,084
Total Shares Earned	2,246,994
Chief Financial Officer [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	733,553
Total Shares Earned	1,350,899
Executive Vice President [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	733,553
Total Shares Earned	1,350,899

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1)	12 Months Ended
	Mar. 31, 2020USD ($)
Annual Compensation Paid for Fiscal Year	$ 402,000
Annual Compensation per Contract for Fiscal Year	570,000
President [Member]
Annual Compensation Paid for Fiscal Year	186,000
Annual Compensation per Contract for Fiscal Year	250,000
Chief Financial Officer [Member]
Annual Compensation Paid for Fiscal Year	132,000
Annual Compensation per Contract for Fiscal Year	180,000
Executive Vice President [Member]
Annual Compensation Paid for Fiscal Year	84,000
Annual Compensation per Contract for Fiscal Year	$ 140,000

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	Jun. 05, 2019	Mar. 31, 2020	Mar. 31, 2019
Consulting fees		$ 570,000
Expenses related party		26,226
Accrued consulting fees		430,000
Consulting fees		2,832,672	$ 667,437
Due to related parties		1,283,607	88,000
Officers And Director [Member]
Cash		4,250
Due to related parties		21,876	88,000
Advances to related party	$ 0	37,620
Payment of accounts payable bills		$ 33,370
Three Officers [Member]
Common shares issued		600,418
Common shares issued for services, fair value		$ 130,536
Former Officer [Member]
Accrued consulting fees			7,000
Consulting fees			23,000
Three Officers And Director [Member]
Common shares issued		1,345,522
Common shares issued for services, fair value		$ 176,422
Consulting fees		140,000
Accrued additional fees		854,926	0
Due to related parties		1,283,607	$ 88,000
Accrued fees converted amount		$ 293,320
Accrued fees converted amount, shares		2,469,536
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.
Three Officers And Director [Member] | Minimum [Member]
Conversion price per share	$ 0.10
Three Officers And Director [Member] | Maximum [Member]
Conversion price per share		$ 0.1725
Chief Financial Officer [Member]
Cash		$ 29,000
Accrued fees		151,000
Executive Vice President [Member]
Cash		6,000
Accrued fees		134,000
President and Chief Executive Officer [Member]
Cash		105,000
Accrued fees		$ 145,000

LICENSE SETTLEMENT (Details Nar

LICENSE SETTLEMENT (Details Narrative)	Oct. 12, 2017USD ($)integer	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Consulting fees		$ 2,832,672	$ 667,437
Consulting agreement [Member]
Number of installments, consideration for license | integer	24
Monthly installment payment	$ 1,000
Consulting fees payable	$ 24,000
Consulting fees		$ 25,000

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Jul. 25, 2019	Mar. 31, 2020	Mar. 31, 2019	Jul. 10, 2019
Common shares issued, amount		$ 115,000
Common shares issued, shares		1,350,000
Common stock shares issued for services		6,300,000
Common stock shares value for services		$ 927,300
Conversion of common stock shares issued		757,142
Conversion of preferred stock shares issued		50,000
Common stock, price per share		$ 0.001	$ 0.001
Preferred stock, shares par value		$ 0.001	$ 0.001
Preferred stock, shares authorized		10,000,000	10,000,000
Preferred stock, shares issued		0	0
Common shares issued, amount		$ 115,000	$ 643,000
Warrants granted, shares			16,000
Common share value for services		$ 927,300	$ 77,550
Three Officers [Member]
Common share issued for services			600,418
Common share value for services			$ 130,536
Fifteen Individuals [Member]
Common shares issued, amount			$ 393,000
Common shares issued, shares			1,277,142
Warrants granted, shares			237,747
Common stock description			The warrants vest immediately and terminate in one year with conversion price from $0.05-$0.50
One Individual [Member]
Common shares issued, shares			1,000,000
Common shares issued, amount			$ 250,000
Six Individuals [Member]
Common share issued for services			350,000
Common share value for services			$ 77,900
Series A Convertible Preferred Stock [Member]
Preferred stock, shares par value	$ 1
Conversion description	Each share of series A preferred is convertible after 180 days to four shares of common stock ($0.25 per share) 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 accrues 7% interest annually.
Preferred stock, shares authorized				1,500,000
Preferred stock, shares issued	110,000
Preferred stock shares, value	$ 110,000
Incurred fee	$ 12,500
Redeemed preferred shares		50,000
Common shares issued, shares		757,142
Three Officers And Director [Member]
Common shares issued, shares		1,345,422
Accrued fees converted amount, shares		2,469,536
Accrued fees converted amount		$ 293,320
Common shares issued, amount		$ 176,422
Three Officers And Director [Member] | Minimum [Member]
Common stock, price per share		$ 0.10
Three Officers And Director [Member] | Maximum [Member]
Common stock, price per share		$ 0.17
Two warrant holders [Member]
Warrants exercised value		$ 1,071
Common stock, price per share		$ 0.05
Warrants Exercised		21,427
Warrant [Member]
Warrants exercised value			$ 83,286
Warrants Exercised			1,665,710
Warrants granted, shares			1,665,710

OPTIONS (Details)

OPTIONS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Options
Number of option exercisable, Beginning	1,405,000	1,365,000
Outstanding option, granted		40,000
Outstanding option, Exercised
Number of option exercisable, Ending	1,405,000	1,405,000
Weighted average exercise price
Weighted average exercise price, Beginning	$ 0.34	$ 0.35
Weighted average exercise price, Granted		0.25
Weighted average exercise price, Exercised
Weighted average exercise price, Ending	$ 0.34	$ 0.34
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	6 years 9 months 18 days	7 years 10 months 17 days
Weighted Average Remaining Contract life,Granted		9 years
Weighted Average Remaining Contract life, Ending	5 years 9 months 18 days	6 years 9 months 18 days
Number of option exercisable
Outstanding option, Beginning	1,397,000	1,236,000
Outstanding option, granted		16,000
Outstanding option, Ending	1,405,000	1,397,000
Intrinsic value
Intrinsic value, Beginning		$ 0
Intrinsic value, Ending		$ 0

OPTIONS (Details Narrative)

OPTIONS (Details Narrative)	1 Months Ended	12 Months Ended
	Jul. 20, 2016USD ($)integer$ / sharesshares	Mar. 31, 2020USD ($)integer$ / sharesshares	Mar. 31, 2019USD ($)
Vest percentage at grant		20.00%
Common stock exercisable term		10 years
Option expense | $		$ 0	$ 38,400
Unrecognized future balance to be expensed | $		$ 0	$ 497
Options vested description		The options vest in equal annual installments over a five year period with the first 20% vested when the options were granted.
Option 1 [Member] | April 1, 2018 [Member]
Common stock exercisable term		10 years
Exercise price of options | $ / shares		$ 0.30
Number of installments vest | integer		5
Options granted		40,000
Option 1 [Member] | April 1, 2016 [Member]
Common stock exercisable term		10 years
Exercise price of options | $ / shares		$ 0.30
Number of installments vest | integer		5
Options granted		30,000
Issued options		40,000
Option 1 [Member] | April 1, 2017 [Member]
Options granted		30,000
Option 2 [Member] | April 1, 2018 [Member]
Exercise price of options | $ / shares	$ 0.301	$ 0.25
Options granted	900,000
Issued options	300,000	40,000
Numbers of officers and directors issued | integer	3
Fair value of option granted | $	$ 484,205	$ 9,991

WARRANTS (Details)

WARRANTS (Details) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Number of warrants
Outstanding warrants, Beginning	237,747	1,939,794
Outstanding warrants, granted		237,747
Outstanding warrants, Expired	(216,320)	(274,084)
Outstanding warrants, Exercised	(21,427)	(1,665,710)
Outstanding warrants, Ending		237,747
Weighted average exercise price
Weighted average exercise price, Beginning	$ 0.20	$ 0.09
Weighted average exercise price, Granted		0.20
Weighted average exercise price, Expired	0.05	(0.35)
Weighted average exercise price, Exercised	0.05	0.05
Weighted average exercise price, Ending	$ 0	$ 0.20
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	2 months 30 days	4 months 17 days
Weighted Average Remaining Contract life, Granted		10 months 13 days
Weighted Average Remaining Contract life, Ending		2 months 30 days
Intrinsic value
Intrinsic value, Beginning	$ 18,470	$ 333,133
Intrinsic value, Ending	$ 0	$ 18,470

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Warrant [Member]
Warrants exercisable period	1 year
Warrants exercised		1,665,710
Warrants issued, shares	237,747
Common shares issued upon exercise of warrants, value		$ 83,286
Common shares issued upon exercise of warrants		1,665,710
Outstanding warrants		237,747
Warrants expired, shares	216,320	274,084
Warrant [Member] | Maximum [Member]
Exercise price of warrants	$ 0.50
Warrant [Member] | Minimum [Member]
Exercise price of warrants	$ 0.05
Two warrant holders [Member]
Warrants exercised	21,427
Common shares issued upon exercise of warrants	21,427
Proceeds from exercise of warrants	$ 1,071	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Deferred tax assets:
Net operating loss	$ 2,371,694	$ 1,763,076
Less: Valuation allowance	2,371,694	1,763,076
Net deferred tax assets	$ 0	$ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
INCOME TAXES
Federal net operating loss carry forwards	$ (11,293,780)	$ (8,395,599)
Federal tax rate	21.00%	21.00%

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - 7% Convertible Note [Member]	1 Months Ended
	Dec. 31, 2019USD ($)
Convertible debt	$ 161,250
Original issue discount	$ 11,250
Conversion price, Description	The note was funded on January 3, 2020 . The note is convertible into common stock of the Company after 180 days at the rate of 60% of the lowest trading price for twenty days prior to conversion or $0.078 whichever is lower. The note may be repaid to the issuer within 180 days from issuance at variable premium rates of 115% to 135% above face value calculated on the outstanding face value of the note plus guaranteed interest .

FAIR VALUE MEASUREMENTS AND D_3

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Details)	12 Months Ended
	Mar. 31, 2020USD ($)
Fair value of derivative liability	$ 0
Debt discount related to new debt	0
Change in fair value of the derivative	0
Total fair value of derivative liability	0
Fair value of derivative liability	603,836
Level 3 [Member]
Fair value of derivative liability	0
Debt discount related to new debt	133,620
Change in fair value of the derivative	470,216
Total fair value of derivative liability	0
Fair value of derivative liability	603,836
Level 2 [Member]
Fair value of derivative liability	0
Debt discount related to new debt	0
Change in fair value of the derivative	0
Total fair value of derivative liability	0
Fair value of derivative liability	0
Level 1 [Member]
Fair value of derivative liability	0
Debt discount related to new debt	0
Change in fair value of the derivative	0
Total fair value of derivative liability	0
Fair value of derivative liability	$ 0

FAIR VALUE MEASUREMENTS AND D_4

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Details 1)	12 Months Ended
	Mar. 31, 2020
FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES
Risk-free interest rate	1.80%
Expected life in years	2 months 30 days
Dividend yield	0.00%
Expected volatility	214.00%

NOTE PAYABLE (Details Narrative

NOTE PAYABLE (Details Narrative) - Secured Note [Member]	1 Months Ended
	Mar. 25, 2020USD ($)
Secured note description	The note matures on July 24, 2020 and bears interest at 7% per annum. In the event of a default the obligation increase to 150% of the outstanding balance and the interest rate increases to 12%.
Face value	$ 50,000
Maturity date	Jul. 24, 2020
Interest rate	7.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended		12 Months Ended
	Mar. 09, 2020	Jun. 30, 2016	Mar. 31, 2020
Contingent sales fee description		A contingent sales fee upon product sales of 1% of sales or $150,000 whichever is greater.
Accrued maintenance fees			$ 100,000
Interest			28,000
Total accrued maintenance fees			$ 128,000
First BLA [Member]
Future payments		$ 225,000
First Phase III clinical trial [Member]
Future payments		225,000
First Phase I clinical trial [Member]
Future payments		100,000
Annual maintenance fee		$ 50,000
Board of Directors [Member]
Expense bonus agreement description	Adopted an Expense Bonus Agreement whereby, at the sale of the Company, ten percent of the sale price will be allocated to direct expenses of the transaction with any unused balance being allocated at 80% to officers and employees and 20% to directors.

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	1 Months Ended					2 Months Ended	12 Months Ended
	Jun. 06, 2020	May 14, 2020	May 12, 2020	May 06, 2020	Mar. 25, 2020	May 31, 2020	Mar. 31, 2020	Mar. 31, 2019
Common stock value issued for services							$ 927,300	$ 77,550
Secured Note [Member]
Face value					$ 50,000
Maturity date					Jul. 24, 2020
Interest rate					7.00%
Secured note description					The note matures on July 24, 2020 and bears interest at 7% per annum. In the event of a default the obligation increase to 150% of the outstanding balance and the interest rate increases to 12%.
Subsequent Event [Member]
Common stock shares issued	35,715		417,000
Common stock value	$ 5,000		$ 50,000
Subsequent Event [Member] | Two Officers And Directors [Member]
Debt conversion converted instrument, shares issued		1,952,381
Debt conversion converted instrument, amount		$ 200,000
Subsequent Event [Member] | April and May 2020 [Member] | Four Individuals [Member]
Common stock shares issued for services						185,000
Common stock value issued for services						$ 29,900
Subsequent Event [Member] | Series A Preferred shares [Member] | April and May 2020 [Member]
Debt conversion converted instrument, shares issued						790,279
Debt conversion converted instrument, amount						$ 35,000
Expenses other						$ 3,000
Subsequent Event [Member] | Secured Note [Member]
Face value				$ 50,000
Maturity date				Sep. 5, 2020
Interest rate				7.00%
Secured note description				The note matures on September 5, 2020 and bears interest at 7% per annum. In the event of a default the obligation increase to 150% of the outstanding balance and the interest rate increases to 12%.