Nascent Biotech (NBIO) 10-Q 10 Aug 20 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2020	Aug. 07, 2020
Cover [Abstract]
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	Jun. 30, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		64,556,136
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2020	Mar. 31, 2020
Current assets:
Cash	$ 432	$ 3,218
Total current assets	432	3,218
Total assets	432	3,218
Current liabilities:
Accounts payable and accrued liabilities	943,090	852,664
Convertible note- net of discount	211,250	88,815
Derivative liability	165,269	603,836
Note payable	50,000	50,000
Due to related parties	28,260	1,283,607
Total current liabilities	1,397,869	2,878,922
Total liabilities	1,397,869	2,878,922
Commitments and contingencies	0	0
Stockholders' deficit:
Preferred stock, $0.001 par value, 50,000,000 authorized, none issued and outstanding	0	60
Common stock, $0.001 par value; 500,000,000 authorized, 62,793,607 and 44,890,262 issued and outstanding, respectively	62,795	44,890
Additional paid-in capital	15,581,388	13,916,995
Accumulated deficit	(17,041,620)	(16,837,649)
Total stockholders' deficit	(1,397,437)	(2,875,704)
Total liabilities and stockholder' deficit	$ 432	$ 3,218

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Mar. 31, 2020
Stockholders' deficit
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	50,000,000	50,000,000
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	500,000,000	500,000,000
Common stock, shares issued	62,793,607	44,890,262
Common stock, shares outstanding	62,793,607	44,890,262

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating expenses:
Consulting	$ 359,815	$ 126,270
General and administrative expense	57,781	118,681
Research and development	133,752	28,792
Loss from operations	(551,348)	(273,743)
Other income (expense):
Interest income	0	5
Change in fair value	438,567	0
Financing costs	(3,000)	0
Interest expense	(88,190)	0
Total other income (expense)	347,377	5
Net loss	$ (203,971)	$ (273,738)
Net loss per share, basic and diluted	$ 0	$ (0.01)
Weighted average number of shares outstanding, basic and diluted	47,661,141	32,855,287

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (DEFICIT) (unaudited) - USD ($)	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
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)
Common stock issued related parties for AP settlement, shares		639,536
Common stock issued related parties for AP settlement, amount	99,000	$ 640	$ 0	98,360	0
Common stock issued to related parties for service, shares		137,872
Common stock issued to related parties for service, amount	25,721	$ 138	$ 0	25,583	0
Common stock issued for warrant exercise, shares		21,427
Common stock issued for warrant exercise, amount	1,071	$ 21	$ 0	1,050	0
Common stock issued for service, shares		50,000
Common stock issued for service, amount	9,550	$ 50	$ 0	9,500	0
Net loss	(273,738)	$ 0	$ 0	0	(273,738)
Balance, shares at Jun. 30, 2019		33,495,470
Balance, amount at Jun. 30, 2019	(620,560)	$ 33,496	$ 0	12,453,178	(13,107,234)
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)
Common stock issued to related parties for service, shares		2,007,000
Common stock issued to related parties for service, amount	190,915	$ 2,007	$ 0	188,908	0
Common stock issued for service, shares		677,000
Common stock issued for service, amount	85,440	$ 677		84,763
Net loss	(203,971)	$ 0	$ 0	0	(203,971)
Common stock issued for AP- related parties, shares		13,831,101
Common stock issued for AP- related parties, amount	1,387,872	$ 13,831	$ 0	1,374,041	0
Common stock issued for AP settlement, shares		35,715
Common stock issued for AP settlement, amount	5,000	$ 36	$ 0	4,964
Common stock issued for preferred shares, shares		1,352,529	(60,000)
Common stock issued for preferred shares, amount	13,011	$ 1,354	$ (60)	11,717	0
Balance, shares at Jun. 30, 2020		62,793,607
Balance, amount at Jun. 30, 2020	$ (1,397,437)	$ 62,795	$ 0	$ 15,581,388	$ (17,041,620)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (203,971)	$ (273,738)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation ? related parties	190,915	0
Stock-based compensation	85,440	35,271
(Gain) loss in fair value of derivative liability	(438,567)	0
Debt discount expense	72,435	0
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	108,437	80,708
Due to related parties	132,525	30,594
Net cash used in operating activities	(52,786)	(127,165)
Cash flows from financing activities:
Common stock issued for exercise of warrants	0	1,071
Proceeds from notes payable	50,000	0
Net cash provided by financing activities	50,000	1,071
Net decrease in cash	(2,786)	(126,094)
Cash -beginning of year	3,218	131,472
Cash -end of period	432	5,378
SUPPLEMENT DISCLOSURES:
Interest paid	0	0
Income taxes paid	$ 0	$ 0
Non Cash Transactions
Common stock issued for conversion of preferred shares	13,011
Common stock issued for accrued expenses- related party	$ 1,387,872	$ 99,000
Common stock issued for accounts payable	$ 5,000	$ 0

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	3 Months Ended
	Jun. 30, 2020
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 United States Food and 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. The Company has an open clinical trial to begin clinical trials on brain cancer patients this fall.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Jun. 30, 2020
ORGANIZATION AND NATURE OF OPERATIONS
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 months ended June 30, 2020 and 2019 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, 2020. 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. The Company computes net loss per share in accordance with ASC 260, Earnings per Share We have identified the conversion features of certain of our convertible notes payable as derivatives. We estimate the fair value of the derivatives using the Black-Scholes pricing model. We estimate the fair value of the derivative liabilities at the inception of the financial instruments, at the date of conversions to equity and at each reporting date, recording a derivative liability, debt discount, and a gain or loss on change in derivative liabilities as applicable. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and variable conversion prices based on market prices as defined in the respective agreements. These inputs are subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material. 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. 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 three months ended June 30, 2020: Fair value as of March 31, 2020 $ 603,836 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (438,567 ) Fair value as of June 30, 2020 $ 165,269,

GOING CONCERN

GOING CONCERN	3 Months Ended
	Jun. 30, 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 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	3 Months Ended
	Jun. 30, 2020
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 June 30, 2020: Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 2,107,084 3,135,994 Chief Financial Officer 617,346 1,267,553 1,884,899 Executive Vice President 617,346 1,267,553 1,884,899 Total 2,263,602 4,642,190 6,905,792 During the year ended March 31, 2020 the Board of Directors amended the compensation plan so that the total amount per the officer agreements allow for the accrual of the full amount due each officer per their contract. The table below sets forth the annual amounts per the contracts: Officer and Director Fiscal Year Annualized Compensation Being Paid President $ 250,000 Chief Financial Officer $ 180,000 Executive Vice President $ 140,000 Total $ 570,000 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 June 28, 2019, the Company issued 137,872 shares of common stock to three officers and a director for service with a value of $25,721. During the three month period ended June 30, 2019 the Company paid a related party (officer and director) $6,000 of consulting fees in cash and accrued $15,000 of the consulting fees for a total of $21,000. During the three months period ended June 30, 2019, Company paid a related party and Chairman of the Scientific Board $4,000 of consulting fees in cash and accrued $2,000 of the fees with a total outstanding accrual of $9,000. On December 30, 2019, the accrued fees were converted into 90,000 shares of common stock of the Company. During the three months ended June 30, 2020 three officers and directors were issued 2,007,000 shares of common stock with a value of $190,915 for service. During the three months period ended June 30, 2020 three officers of the Company converted $1,387,872 of accrued compensation into 13,831,101 shares of common stock of the Company.

EQUITY

EQUITY	3 Months Ended
	Jun. 30, 2020
EQUITY
NOTE 5 - EQUITY	Preferred 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. During the three months ended June 30, 2020 the Company issued 1,352,529 shares of common stock for the conversion of 60,000 shares of preferred stock. AS of June 30, 2020 the number of preferred shares outstanding was zero. Common 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. On June 14, 2019, the Company issued 50,000 share of common stock to one individual with a value of $9,550 for service. On June 28, 2019, the Company issued 137,872 shares of common stock to three officers and a director for service with a value of $25,721. During the three months ended June 30, 2020 the Company issued 35,715 shares of common stock with a value of $5,000 for settlement of accounts payable. During the three months ended June 30, 2020 the Company issued 677,000 shares of common stock with a value of $85,440 for service During the three months ended June 30, 2020 the Company issued 1,352,529 shares of common stock for the conversion of 60,000 shares of preferred stock. During the three months ended June 30, 2020 three officers and directors were issued 2,007,000 shares of common stock with a value of $190,915 for service During the three months period ended June 30, 2020 three officers of the Company converted $1,387,872of accrued compensation into 13,831,101 shares of common stock of the Company.

OPTIONS

OPTIONS	3 Months Ended
	Jun. 30, 2020
OPTIONS
NOTE 6 - OPTIONS	As of June 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 three months ended June 30, 2020: Options Weighted Average Exercise Price Weighted Average Remaining Contract Life Number of Options Exercisable Intrinsic Value Outstanding at March 31, 2020 1,405,000 $ 0.34 5.80 1,405,000 $ -- Granted -- -- -- -- -- Exercised -- -- -- -- -- Outstanding at June 30, 2020 1,405,000 $ 0.34 5.55 1,405,000 $ -- The weighted average remaining life and intrinsic value of the options as of June 30, 2020, was 5.55 years and zero, respectively.

WARRANTS

WARRANTS	3 Months Ended
	Jun. 30, 2020
OPTIONS
NOTE 7 - WARRANTS	During the three months ended June 30, 2019 two individuals exercised 21,427 warrants into 21,427 shares of common stock for cash of $1,071. As of June 30, 2020 and 2019 the Company had zero and 109,276 warrants outstanding, respectively. 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 (107,044 ) (0.05 ) -- -- Outstanding at June 30, 2019 109,276 0.05 0.25 --- Outstanding at March 31, 2020 -- -- -- -- Granted -- -- -- -- Exercised -- -- -- -- Expired -- -- -- -- Outstanding at June 30, 2020 -- $ -- 0.00 $ --

CONVERTIBLE DEBT

CONVERTIBLE DEBT	3 Months Ended
	Jun. 30, 2020
CONVERTIBLE DEBT
NOTE 8 - 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 . On May 7, 2020, The Company issued an 8% $50,000 one year convertible note. The note is convertible into common stock at the lesser of $0.20 per share or 80% of the lowest closing bid five days prior to conversion.

FAIR VALUE MEASUREMENTS AND DER

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES	3 Months Ended
	Jun. 30, 2020
FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES
NOTE 9 - 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 June 30, 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 quarter ended June 30, 2020: Level 1 Level 2 Level 3 Fair value of derivative liability as of March 31, 2020 $ -- $ -- $ 603,836 Change in fair value of the derivative -- -- (438,567 ) -- -- Balance at June 30, 2020 $ -- $ -- $ 165,369 The estimated fair value of the derivative liabilities at June 30, 2020 was calculated using the Binomial Lattice pricing model with the following assumptions: Risk-free interest rate .16 % Expected life in years 0.25-0.85 Dividend yield 0 % Expected volatility 211.00 %

NOTE PAYABLE

NOTE PAYABLE	3 Months Ended
	Jun. 30, 2020
NOTE PAYABLE
NOTE 10 - 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	3 Months Ended
	Jun. 30, 2020
COMMITMENTS AND CONTINGENCIES
NOTE 11 - 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 June 30, 2020 $128,000 was due for the annual maintenance fee plus interest.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jun. 30, 2020
SUBSEQUENT EVENTS
NOTE 12 - SUBSEQUENT EVENTS	On July 1, 2020 the Company issued 150,000 Shares A convertible preferred shares for the conversion of $100,000 of notes payable plus $50,000 of cash. The interest on the notes was forgiven as part of the transaction. On July 7, 2020, the Company issued 75,000 shares of common stock to one individual with a value of $7,500 for accounts payable. On July 13, 2020, the Company issued 778,816 shares of common stock for the conversion of $50,000 of convertible debt On July 14, 2020, the Company issued 190,000 shares of Series A convertible preferred with a value of $190,000 for cash. On July 15, 2020, the Company issued 25,000 shares of common stock with a value of $2,500 for service. On July 17, 2020, the Company issued 200,000 shares of Series A convertible preferred with a value of $200,000 for cash. On July 20, 2020, the Company issued 63,000 shares of common stock with a value of $6,300 for Accounts Payable. On July 28, 2020, the Company issued 770,713 shares of common stock with a value of $50,000 for the conversion of debt. On July 31, 2020, the Company issued 50,000 shares of common stock with a value of $5,000 for service. In July 2020, the Company increased its authorized common shares from 100,000,000 to 500,000,000 and its preferred shares from 10,000,000 to 50,000,000. The Company has evaluated subsequent events to determine events occurring after June 30, 2020 through August 7, 2020 that would have a material impact on the Company’s financial results or require disclosure and have determined none exist other than those noted above in this footnote.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Jun. 30, 2020
ORGANIZATION AND NATURE OF OPERATIONS
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 months ended June 30, 2020 and 2019 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, 2020. 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 Stock-Based Compensation	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. The Company computes net loss per share in accordance with ASC 260, Earnings per Share We have identified the conversion features of certain of our convertible notes payable as derivatives. We estimate the fair value of the derivatives using the Black-Scholes pricing model. We estimate the fair value of the derivative liabilities at the inception of the financial instruments, at the date of conversions to equity and at each reporting date, recording a derivative liability, debt discount, and a gain or loss on change in derivative liabilities as applicable. These estimates are based on multiple inputs, including the market price of our stock, interest rates, our stock price volatility and variable conversion prices based on market prices as defined in the respective agreements. These inputs are subject to significant changes from period to period and to management’s judgment; therefore, the estimated fair value of the derivative liabilities will fluctuate from period to period, and the fluctuation may be material. 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.
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 three months ended June 30, 2020: Fair value as of March 31, 2020 $ 603,836 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (438,567 ) Fair value as of June 30, 2020 $ 165,269,

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	3 Months Ended
	Jun. 30, 2020
ORGANIZATION AND NATURE OF OPERATIONS
Schedule of Summarizes of change in the fair value of the derivative liabilities	Fair value as of March 31, 2020 $ 603,836 Additions at fair value -- Transfers in (out) of Level 3 -- Change in fair value (438,567 ) Fair value as of June 30, 2020 $ 165,269,

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Jun. 30, 2020
RELATED PARTY TRANSACTIONS (Tables)
Schedule of 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 2,107,084 3,135,994 Chief Financial Officer 617,346 1,267,553 1,884,899 Executive Vice President 617,346 1,267,553 1,884,899 Total 2,263,602 4,642,190 6,905,792
Schedule of annual salary and annual severance amounts	Officer and Director Fiscal Year Annualized Compensation Being Paid President $ 250,000 Chief Financial Officer $ 180,000 Executive Vice President $ 140,000 Total $ 570,000

OPTIONS (Tables)

OPTIONS (Tables)	3 Months Ended
	Jun. 30, 2020
OPTIONS
Schedule of 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, 2020 1,405,000 $ 0.34 5.80 1,405,000 $ -- Granted -- -- -- -- -- Exercised -- -- -- -- -- Outstanding at June 30, 2020 1,405,000 $ 0.34 5.55 1,405,000 $ --

WARRANTS (Tables)

WARRANTS (Tables)	3 Months Ended
	Jun. 30, 2020
OPTIONS
Schedule of Summary of warrants outstanding	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 (107,044 ) (0.05 ) -- -- Outstanding at June 30, 2019 109,276 0.05 0.25 --- Outstanding at March 31, 2020 -- -- -- -- Granted -- -- -- -- Exercised -- -- -- -- Expired -- -- -- -- Outstanding at June 30, 2020 -- $ -- 0.00 $ --

FAIR VALUE MEASUREMENTS AND D_2

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Tables)	3 Months Ended
	Jun. 30, 2020
FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES
Schedule of Fair value of the derivative liabilities	Level 1 Level 2 Level 3 Fair value of derivative liability as of March 31, 2020 $ -- $ -- $ 603,836 Change in fair value of the derivative -- -- (438,567 ) -- -- Balance at June 30, 2020 $ -- $ -- $ 165,369
Schedule of Assumption to calculate fair value of liability	Risk-free interest rate .16 % Expected life in years 0.25-0.85 Dividend yield 0 % Expected volatility 211.00 %

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	3 Months Ended
	Jun. 30, 2020USD ($)
ORGANIZATION AND NATURE OF OPERATIONS
Begnning Balance	$ 603,836
Additions at fair value	0
Transfers in (out) of Level 3	0
Change in fair value	(438,567)
Ending Balance	$ 165,269

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended
	Jun. 30, 2020shares
Initial Share Awards Under the Contracts	2,263,602
Additional Shares Earned to Maintain Ownership Percentage	4,642,190
Total Shares Earned	6,905,792
President [Member]
Initial Share Awards Under the Contracts	1,028,910
Additional Shares Earned to Maintain Ownership Percentage	2,107,084
Total Shares Earned	3,135,994
Chief Financial Officer [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	1,267,553
Total Shares Earned	1,884,899
Executive Vice President [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	1,267,553
Total Shares Earned	1,884,899

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1)	12 Months Ended
	Mar. 31, 2020USD ($)
Fiscal Year Annualized Compensation Being Paid	$ 570,000
President [Member]
Fiscal Year Annualized Compensation Being Paid	250,000
Chief Financial Officer [Member]
Fiscal Year Annualized Compensation Being Paid	180,000
Executive Vice President [Member]
Fiscal Year Annualized Compensation Being Paid	$ 140,000

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended
	Dec. 30, 2019	Jun. 28, 2019	Jun. 05, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Accrued consulting fees				$ 15,000
Consulting fees				21,000
Cash				432		$ 3,218
Consulting fees				$ 359,815	$ 126,270
Chairman [Member]
Accrued consulting fees					9,000
Consulting fees					4,000
Cash					2,000
Accrued fees converted amount, shares	90,000
Accrued fees					2,000
Three Officers Director [Member]
Accrued fees converted amount, shares				13,831,101
Common shares issued for services, fair value		$ 25,721		$ 190,915
Common shares issued		137,872		2,007,000
Accrued compensation converted amount				$ 1,387,872
Two Officers And Director [Member]
Accrued fees converted amount, shares			639,536
Accrued compensation converted amount			$ 99,000
Consulting fees					$ 6,000
Conversion price per share			$ 0.1548
Three Officers And Director [Member]
Accrued compensation converted amount				$ 1,387,872
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.

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	Jun. 14, 2019	Jun. 28, 2020	Jul. 25, 2019	Jun. 05, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Settlemet of accounts payable					$ 5,000
Common shares issued, shares					35,715
Conversion of common stock shares issued					60,000
Conversion of preferred stock shares issued					1,352,529
Preferred stock, shares issued					0		0
Preferred stock shares, value					$ 13,011
Common stock shares value for services					$ 85,440	$ 9,550
Common shares issued, shares					13,011
Common stock, price per share					$ 0.001		$ 0.001
One Individual [Member]
Common shares issued, shares	50,000
Common stock shares issued for services	9,550
Three Officers [Member]
Common stock shares value for services					$ 85,440
Common stock shares issued for services					677,000
Two warrant holders [Member]
Warrants exercised value						$ 1,071
Common stock, price per share						$ 0.05
Warrants Exercised						21,427
Two Officers And Director [Member]
Accrued compensation converted amount				$ 99,000
Common stock, price per share				$ 0.1548
Accrued fees converted amount, shares				639,536
Accrued fees converted amount				$ 99,000
Three Officers and Director [Member]
Common stock shares value for services		$ 25,721			$ 190,915
Common shares issued, shares					13,831,101
Accrued compensation converted amount					$ 1,387,872
Common stock shares issued for services		137,872			2,007,000
Series A Convertible Preferred Stock [Member]
Conversion 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.
Preferred stock, shares issued			110,000
Preferred stock shares, value			$ 110,000

OPTIONS (Details)

OPTIONS (Details)	3 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Options
Number of option Outstanding, Beginning	1,405,000
Outstanding option, granted
Outstanding option, exercised
Number of option outstanding, ending	1,405,000
Weighted average exercise price
Weighted average exercise price, Beginning | $ / shares	$ 0.34
Weighted average exercise price, Granted | $ / shares	0
Weighted average exercise price, Exercised | $ / shares	0
Weighted average exercise price, Ending | $ / shares	$ 0.34
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	5 years 9 months 18 days
Weighted Average Remaining Contract life, granted
Weighted Average Remaining Contract life, Ending	5 years 6 months 18 days
Number of option exercisable
Outstanding option, Beginning	1,405,000
Outstanding option, granted
Outstanding option, Ending	1,405,000
Intrinsic value
Intrinsic value, Beginning | $	$ 0

OPTIONS (Details Narrative)

OPTIONS (Details Narrative) - Option 1 [Member]	3 Months Ended
	Jun. 30, 2020USD ($)
Intrinsic value	$ 0
Weighted average remaining life	5 years 6 months 18 days

WARRANTS (Details)

WARRANTS (Details) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Number of warrants
Outstanding warrants, granted
Weighted average exercise price
Weighted average exercise price, Granted	$ 0
Weighted average exercise price, Exercised	$ 0
Intrinsic value
Intrinsic value, Beginning	$ 0
Warrants [Member]
Number of warrants
Outstanding warrants, Beginning	109,276	237,747
Outstanding warrants, granted
Outstanding warrants, Exercised		(21,427)
Outstanding warrants, Expired		(107,044)
Outstanding warrants, Ending		109,276
Weighted average exercise price
Weighted average exercise price, Beginning	$ 0.05	$ 0.20
Weighted average exercise price, Granted	0	0
Weighted average exercise price, Exercised	0	0.05
Weighted average exercise price, Expired	0	(0.05)
Weighted average exercise price, Ending	$ 0	$ 0.05
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	2 months 30 days	2 months 30 days
Weighted Average Remaining Contract life, Ending		2 months 30 days
Intrinsic value
Intrinsic value, Beginning		$ 18,470

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - Two warrant holders [Member] - USD ($)	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2020
Warrants outstanding	109,276	0
Warrants exercised	21,427
Common stock issued upon warrant exercised	21,427
Proceeds from exercise of warrants	$ 1,071

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - USD ($)	1 Months Ended
	Dec. 31, 2019	May 07, 2020
7% Convertible Note [Member]
Conversion price, Description	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
Convertible debt	$ 161,250
Original issue discount	$ 11,250
8% Convertible Note [Member]
Conversion price, Description	The note is convertible into common stock at the lesser of $0.20 per share or 80% of the lowest closing bid five days prior to conversion.
Convertible debt		$ 50,000

FAIR VALUE MEASUREMENTS AND D_3

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Details)	3 Months Ended
	Jun. 30, 2020USD ($)
Level 3 [Member]
Fair value of derivative liability	$ 603,836
Change in fair value of the derivative	(438,567)
Total fair value of derivative liability	165,369
Level 2 [Member]
Fair value of derivative liability	0
Change in fair value of the derivative	0
Total fair value of derivative liability	0
Level 1 [Member]
Fair value of derivative liability	0
Change in fair value of the derivative	0
Total fair value of derivative liability	$ 0

FAIR VALUE MEASUREMENTS AND D_4

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Details 1)	3 Months Ended
	Jun. 30, 2020
Risk-free interest rate	0.16%
Dividend yield	0.00%
Expected volatility	211.00%
Maximum [Member]
Expected life in years	10 months 6 days
Minimum [Member]
Expected life in years	2 months 30 days

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	3 Months Ended
	Sep. 30, 2016	Jun. 30, 2020
Contingent sales fee description	A contingent sales fee upon product sales of 1% of sales or $150,000 whichever is greater.
Annual Maintenance		$ 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

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Common stock issued for service, amount	$ 85,440	$ 9,550
Common stock value issued	$ 5,000
Subsequent Event [Member] | In July 2020 [Member]
Preferred stock authorized shares increased	from 10,000,000 to 50,000,000
Common stock authorized shares increased	from 100,000,000 to 500,000,000
Subsequent Event [Member] | July 28, 2020 [Member]
Debt conversion converted instrument, shares issued	770,713
Debt conversion converted instrument, amount	$ 50,000
Subsequent Event [Member] | July 31, 2020 [Member]
Common stock issued for service, amount	$ 5,000
Common stock issued for service	50,000
Subsequent Event [Member] | July 20, 2020 [Member]
Common stock shares issued	63,000
Common stock value issued	$ 6,300
Subsequent Event [Member] | July 17, 2020[Member] | Series A Preferred shares [Member]
Debt conversion converted instrument, shares issued	200,000
Debt conversion converted instrument, amount	$ 200,000
Subsequent Event [Member] | July 14, 2020 [Member]
Debt conversion converted instrument, shares issued	190,000
Debt conversion converted instrument, amount	$ 190,000
Subsequent Event [Member] | July 15, 2020 [Member]
Common stock issued for service, amount	$ 2,500
Common stock issued for service	25,000
Subsequent Event [Member] | July 1 2020[Member] | Series A Preferred shares [Member]
Debt conversion converted instrument, shares issued	150,000
Debt conversion converted instrument, amount	$ 100,000
Notes Payable	$ 50,000
Subsequent Event [Member] | July 7, 2020 [Member]
Common stock shares issued	75,000
Common stock value issued	$ 7,500
Subsequent Event [Member] | July 13, 2020 [Member]
Debt conversion converted instrument, shares issued	50,000
Debt conversion converted instrument, amount	$ 778,816