Nascent Biotech (NBIO) 10-Q 9 Aug 22 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2022	Aug. 09, 2022
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	false
Entity Current Reporting Status	Yes
Document Period End Date	Jun. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Common Stock Shares Outstanding		117,065,675
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-55299
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	46-5001940
Entity Interactive Data Current	Yes
Entity Address Address Line 1	623 17th Street Suite 4
Entity Address City Or Town	Vero Beach
Entity Address State Or Province	FL
Entity Address Postal Zip Code	32960
City Area Code	612
Local Phone Number	961-5656

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Current assets:
Cash	$ 145,575	$ 94,414
Prepaid	37,750	11,000
Total current assets	183,325	105,414
Total assets	183,325	105,414
Current liabilities:
Accounts payable and accrued liabilities	702,816	776,891
Convertible note- net of discount	64,887	0
Derivative liability	835,914	0
Due to related parties	16,500	0
Total current liabilities	1,620,117	776,891
Total liabilities	1,620,117	776,891
Commitments and contingencies	0	0
Stockholders' deficit:
Preferred stock, $0.001 par value, 50,000,000 authorized, none issued and outstanding. respectively	0	0
Common stock, $0.001 par value; 500,000,000 authorized, 117,065,675 and 111,313,175 issued and outstanding, respectively	117,065	111,313
Additional paid-in capital	18,567,825	18,039,016
Accumulated deficit	(20,121,682)	(18,821,806)
Total stockholders' deficit	(1,436,792)	(671,476)
Total liabilities and stockholders' deficit	$ 183,325	$ 105,414

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2022	Mar. 31, 2022
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	117,065,675	111,313,175
Common stock shares outstanding	117,065,675	111,313,175

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating expenses:
Consulting	$ 423,150	$ 162,813
General and administrative expense	109,703	224,790
Clinical trials	29,936	0
Research and development	56,890	55,206
Loss from operations	(619,679)	(442,809)
Other income (expense):
Interest income	3	6
Change in fair value of derivative	(527,584)	164,582
Gain on debt settlement	0	5,000
Financing costs	0	(66,150)
Loss on original issuance discount	(82,666)	(107,199)
Interest expense	(69,950)	(3,506)
Total other income (expense)	(680,197)	(7,267)
Net loss	$ (1,299,876)	$ (450,076)
Net loss per share, basic and diluted	$ (0.01)	$ 0
Weighted average number of shares outstanding, basic and diluted	113,439,027	107,064,811

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS DEFICIT (Unaudited) - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Mar. 31, 2021		54,130	104,834,083
Balance, amount at Mar. 31, 2021	$ (472,505)	$ 54	$ 104,834	$ 17,774,023	$ (18,351,416)
Common stock issued to related parties, shares			568,719
Common stock issued to related parties, amount	59,716	0	$ 569	59,147	0
Common stock issued for service, shares			50,000
Common stock issued for service, amount	5,250	0	$ 50	5,200	0
Common stock issued for AP - related parties, shares			307,010
Common stock issued for AP - related parties, amount	23,332	$ 0	$ 307	23,025	0
Common stock issued for preferred shares, shares		(54,130)	1,968,363
Common stock issued for preferred shares, amount	0	$ (54)	$ 1,968	(1,914)	0
Net loss	(450,076)	0	$ 0	0	(450,076)
Warrants issued with convertible notes	0
Balance, shares at Jun. 30, 2021			107,728,175
Balance, amount at Jun. 30, 2021	(834,283)	0	$ 107,728	17,859,481	(18,801,492)
Balance, shares at Mar. 31, 2022			111,313,175
Balance, amount at Mar. 31, 2022	(671,476)	0	$ 111,313	18,039,016	(18,821,806)
Common stock issued to related parties, shares			1,052,500
Common stock issued to related parties, amount	305,224	0	$ 1,052	304,172	0
Common stock issued for service, shares			1,000,000
Common stock issued for service, amount	60,000	0	$ 1,000	59,000	0
Net loss	(1,299,876)	0	$ 0	0	(1,299,876)
Common stock issued for warrant exercise, shares			3,700,000
Common stock issued for warrant exercise, amount	148,000	0	$ 3,700	144,300	0
Warrants issued with convertible notes	21,336	0	$ 0	21,336	0
Balance, shares at Jun. 30, 2022			117,065,675
Balance, amount at Jun. 30, 2022	$ (1,436,792)	$ 0	$ 117,065	$ 18,567,825	$ (20,121,682)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net loss	$ (1,299,876)	$ (450,076)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation - related parties	305,225	59,716
Stock-based compensation	60,000	5,250
(Gain) loss in fair value of derivative liability	527,584	(164,582)
Change in discount expense	64,887	173,349
Loss on notes	82,664	0
Changes in operating assets and liabilities:
Accounts receivable	0	750,000
Accounts payable and accrued expenses	(74,075)	(84,329)
Deferred revenue	0	250,000
Prepaid	(26,750)	(7,038)
Due to related parties	16,500	(44,385)
Net cash provided by (used in) operating activities	(343,839)	487,905
Cash flows from financing activities:
Repayment of convertible notes	0	(220,500)
Proceeds from warrant conversion	148,000	0
Proceeds from convertible notes	245,000	0
Net cash provided (used) by financing activities	395,000	(220,500)
Net increase (decrease) in cash	51,161	267,405
Cash -beginning of year	94,414	1,434
Cash -end of period	145,575	268,839
SUPPLEMENT DISCLOSURES:
Interest paid	0	0
Income taxes paid	0	0
Non Cash Transactions
Common stock issued for conversion of preferred shares	0	1,968
Common stock issued for accrued expenses- related party	0	23,332
Warrants issued with convertible notes	21,336	0
Initial discount from derivatives	$ 253,664	$ 0

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	3 Months Ended
	Jun. 30, 2022
ORGANIZATION AND NATURE OF OPERATIONS
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 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 phase 1 clinical trial 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. On March 15, 2021, the Company opened phase1 clinical trials. As of June 30, 2022 the Company had completed cohort 3 of the phase 1 clinical trials and enrolled patients in cohort 4.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 2- BASIS OF PRESENTATION The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles. The Company has elected a fiscal year ending on March 31. The accompanying unaudited interim consolidated financial statements of the Company for the three months ended June 30, 2022 and 2021 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, 2022. 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. Basis of Presentation 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. Revenue recognition In April 2016, the FASB issued ASU 2016–10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. The amendments in this Update do not change the core principle of the guidance in Topic 606. Rather, the amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. Topic 606 includes implementation guidance on (a) contracts with customers to transfer goods and services in exchange for consideration and (b) determining whether an entity’s promise to grant a license provides a customer with either a right to use the entity’s intellectual property (which is satisfied at a point in time) or a right to access the entity’s intellectual property (which is satisfied over time). The amendments are intended to render more detailed implementation guidance with the expectation to reduce the degree of judgement necessary to comply with Topic 606. ASC Topic 606 prescribes a new five-step model entities should follow in order to recognize revenue in accordance with the core principle. These five steps are: 1. Identify the contract(s) with a customer. 2. Identify the performance obligations in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to the performance obligations in the contract. 5. Recognize revenue when (or as) the entity satisfied the performance obligations. The Company implemented the transition using the modified retrospective method of transition. The funds are not earned on milestones that have not been reached per the contract. Based on the cut off treatment of the recognition of revenue per the milestones specific to the license agreements, the Company has determined that there are no adjustments in the value of the revenue recognized from these contracts. The Company has one revenue stream, which are the milestone payments of the license agreement with BioRay Pharmaceutical which is not earned or billed until the milestone per the agreement is met. During the three months period ended June 30, 2022, no revenue was received. Accounts receivable Accounts receivables are carried at face value less any provisions for uncollectible amounts. Accounts receivable are receivables from a license agreement. No allowance for bad debt was considered necessary for the three months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, the Company did not have any accounts receivable. 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, 2022: Fair value as of March 31, 2022 $ - Additions at fair value 308,330 Change in fair value 527,584 Fair value as of June 30, 2022 $ 835,914

GOING CONCERN

GOING CONCERN	3 Months Ended
	Jun. 30, 2022
GOING CONCERN
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, 2022
GOING CONCERN
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. One of the officers and director resigned as of September 30, 2020. 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 initially remained at 11% (undated to 18% as noted below) of the outstanding shares of the Company. The agreements were amended on September 1, 2020, as noted below, and the table reflects the amendment to these agreements. The following table sets forth the shares earned under these contracts for the two active officers as of June 30, 2022: Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 8,297,269 9,326,179 Chief Financial Officer 617,346 4,381,223 4,998,569 Total 1,646,256 12,678,492 14,324,748 As of June 30, 2022, the Company had $16,500 due to officers and directors. On September 1, 2020, the Company entered five-year compensation agreements with two of its officers and directors. Under the terms of the agreements the Company issued shares of common stock to the two senior officers equaling 18% of the outstanding shares of the Company as additional future shares are issued. The officers are entitled to additional future shares, so their aggregate ownership percentage remains at 18% of the future outstanding shares of the Company. Officer and Director Fiscal Year Annualized Compensation Being Paid President $ 250,000 Chief Financial Officer $ 180,000 Total $ 430,000 During the three months ended June 30, 2022, two officers and a director were issued 1,052,500 shares of common stock with a value of $305,225 for service.

EQUITY

EQUITY	3 Months Ended
	Jun. 30, 2022
EQUITY
EQUITY	NOTE 5 – EQUITY Preferred On April 1, 2021, 54,130 shares of preferred stock were converted into 1,968,363 shares of common stock. The conversion eliminated all outstanding convertible preferred shares. Common During the three months ended June 30, 2021, three officers and directors were issued 568,719 shares of common stock with a value of $59,716 for service. During the three months period ended June 30, 2021, a director of the Company converted $23,332 of accrued compensation into 307,010 shares of common stock of the Company. During the three months ended June 30, 2021, the Company issued 50,000 shares of common stock with a value of $5,250 for service During the three months ended June 30, 2022, two officers and a director were issued 1,052,500 shares of common stock with a value of $305,225 for service. During the three months ended June 30, 2022, four entities were issued 3,700,000 shares of common stock with a value of $148,000 for the exercise of 3,700,000 warrants. During the three months ended June 30, 2022, the medical director was issued 1,000,000 shares of common stock with a value of $60,000 for service.

OPTIONS

OPTIONS	3 Months Ended
	Jun. 30, 2022
OPTIONS
OPTIONS	NOTE 6– OPTIONS As of June 30, 2022, there was no option expenses recognized by the Company as the balance of unrecognized option expense was zero. The following sets forth the options granted and outstanding during the three months ended June 30, 2022: Options Weighted Average Exercise Price Weighted Average Remaining Contract Life Number of Options Exercisable Intrinsic Value Outstanding at March 31, 2022 930,000 $ 0.34 3.80 930,000 $ - Granted - - - - - Exercised - - - - - Outstanding at June 30, 2022 930,000 $ 0.34 3.55 930,000 $ - The weighted average remaining life and intrinsic value of the options as of June 30, 2022, was 3.55 years and zero, respectively.

WARRANTS

WARRANTS	3 Months Ended
	Jun. 30, 2022
WARRANTS
WARRANTS	NOTE 7 – WARRANTS During the year ended March 31, 2021 the Company issued 3,700,000 warrants and used the Black Scholes Pricing model to estimate the fair value of the warrants as of grant date, using the following key inputs: market prices of the Company’s common stock at dates of grant between $0.08-0.11 per share, conversion price of $0.15, volatility of 312.5%-314.49% and discount rate of 0.14-0.16%. Based on the fair value of the common stock of $437,000 and value of the warrants of $349,605 the fair value of the warrants was calculated to be 41% of the total value or $303,000. During the year ended March 31, 2021 the valuation resulted in a deemed dividend from the down round calculation of $555,000. As of June 30, 2022 3,700,000 warrants were converted into 3,700,000 shares of common stock for cash at a value for $148,000. On April 7, 2022,the Company issued 500,000 warrants as part of a convertible note issued the same date. The Company used the Black Scholes Pricing model to estimate the fair value of the warrants as of grant date using the following key inputs; market prices of the Company’s stock at date of grant of $0.08 per share, conversion price of $0.12 per share, volatility of 132% and discount of 1.78%. The fair value of the warrants were calculated to be $ 26,000 and was used to allocate the proceeds to the two elements based on the relative fair value of the debt instruments without the warrants and of the warrants at the time of issuance. The portion of the proceeds so allocated to the warrants of $21,336 is accounted for as paid in capital. The weighted average remaining life and intrinsic value of the warrants as of June 30, 2022 was: Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Life Intrinsic Value Outstanding at March 31, 2021 3,700,000 $ 0.15 2.00 $ - Granted - - - - Exercised - - - - Expired - - - - Outstanding at March 31, 2022 3,700,000 $ 0.15 1.35 $ - Granted 500,000 0.12 1.50 - Exercised (3,700,000 ) - - - Expired - - - - Outstanding as of June 30, 2022 500,000 $ 0.12 1.25 $ -

CONVERTIBLE DEBT

CONVERTIBLE DEBT	3 Months Ended
	Jun. 30, 2022
CONVERTIBLE DEBT
CONVERTIBLE DEBT	NOTE 8 - CONVERTIBLE DEBT On October 28, 2020, the Company issued a $138,000 convertible note with an OID of $10,000. The note matured on October 28,2021 with interest at 10% per annum. After 180 days the note was convertible into common stock of the Company at $0.04 per share or a 30% discount to the VWAP during the 20 days prior to conversion. The initial derivative was calculated using risk free interest of .18%, volatility of 212% and expected life of .50 years. On April 20, 2021 note was paid with the principal of $138,000, accrued interest of $6,805 and financing costs of $41,400. On November 11, 2020, the Company issued a $82,500 convertible note with an OID of $7,500. The note matured on October 28, 2021 with fixed interest of 10%. After 180 days the note was convertible into common stock of the Company at a 35% discount to the lowest trading price during the 20 days prior to conversion. On April 22, 2021, the note was paid consisting of principal of $82,500, accrued interest of $8,250 and finance costs of $24,750. On February 16, 2021, the Company issued a $100,000 convertible note with an OID of $5,000. The note matured on February 16, 2022, with fixed interest of 10%. After 180 days the note was convertible into common stock of the Company at a 30% discount to the lowest trading price during the 15 days prior to conversion. The initial derivative was calculated using risk free interest of .18%, volatility of 213% and expected life of 1.00 years. On August 16, 2021, the note was paid consisting of principal of $100,000, accrued interest of $5,000 and financing costs of $35,000. On August 10, 2021, the Company issued a $200,000 convertible note. The note matured on February 10, 2022, with fixed interest of 10%. Within 180 days of issuance the note may be repaid at an escalating premium up to 125% of the face value of the note. After 180 days the note was convertible into common stock of the Company at $0.06 per share or a 25% discount to the lowest trading price during the 10 days prior to conversion. The initial derivative was calculated using risk free interest of .05%, volatility of 132% and expected life of 0.50 years. On March 28, 2022, the Note was paid consisting of $200,000 in principal, accrued interest of $9,973 and financing costs of $50,000. On April 7, 2022, the Company issued a $275,000 convertible note with an OID of $25,000. The note matures on March 29, 2023, bears fixed interest of 8% plus contains a most favored nations statement. Within 180 days of issuance, the note may be repaid at a premium of 115% of the face value of the note and 150% of the unconverted balance of the note after 180 days and prior to maturity. After 180 days the note may be converted into common stock of the Company at $0.075 per share or a 20% discount to the lowest VWAP (Volume- Weighted Average Pricing) price during the 10 days prior to conversion. The initial derivative was calculated using risk free interest of .05%, volatility of 132% and expected life of 0.50 years.

FAIR VALUE MEASUREMENTS AND DER

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES	3 Months Ended
	Jun. 30, 2022
FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES
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, 2022, 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, 2022: Level 1 Level 2 Level 3 Fair value of derivative liability as of March 31, 2022 $ - $ - $ - Additions at fair value - - 308,330 Change in fair value of the derivative - - 527,584 Balance at June 30, 2022 $ - $ - $ 835,914 The estimated fair value of the derivative liabilities at June 30, 2022 was calculated using the American Binomial Lattice pricing model with the following assumptions: Risk-free interest rate 2.80 % Expected life in years 0.75 Dividend yield 0 % Expected volatility 129.00 %

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 10 –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, 2022, $349,960 was due for the annual maintenance fee and first patient dosage of phase 1. On March 9, 2020, the Board of Directors of the Company adapted an expense bonus program. Under the program, if an acquisition, merger or change in control is affected, 10% of the value of the transaction will be allocated to pay the expenses of the transaction including but not limited to legal, accounting, transfer fees and other miscellaneous expense. The balance of the fund after expenses will be allocated 20% to directors and 80% to officers and employees of the Company as allocated by the Chief Executive Officer and approved by the Board of Directors.

LICENSE AGREEMENT

LICENSE AGREEMENT	3 Months Ended
	Jun. 30, 2022
LICENSE AGREEMENT
LICENSE AGREEMENT	NOTE 11- LICENSE AGREEMENT On March 31, 2021, the Company issued a license agreement for US $5,000,000 to BioRay Pharmaceutical Co, LTD, licensing Pritumumab internationally with the exclusion of North and Central America and the Caribbean Islands. Under the terms of the agreement the Company receives $250,000 upon signing of the agreement plus $750,000 with the start of the phase 1 clinical trials , which started in March 2021. In addition, the Company will receive $750,000 upon the enrollment of the 12th patient or the dosage level of 8.0 mg/kg, whichever is achieved first. Further payment of $2,500,000 will be received when the FDA approves the phase 2 clinical trials and $750,000 when the phase 2 clinical trials begin. Upon commercialization by the Licensee, the Company will receive a 9% royalty on net sales for 20 years.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jun. 30, 2022
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 12 - SUBSEQUENT EVENTS The Company has evaluated subsequent events to determine events occurring after June 30, 2022 through the date of this filing 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, 2022
BASIS OF PRESENTATION
Basis of Presentation	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.
Revenue recognition	In April 2016, the FASB issued ASU 2016–10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. The amendments in this Update do not change the core principle of the guidance in Topic 606. Rather, the amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. Topic 606 includes implementation guidance on (a) contracts with customers to transfer goods and services in exchange for consideration and (b) determining whether an entity’s promise to grant a license provides a customer with either a right to use the entity’s intellectual property (which is satisfied at a point in time) or a right to access the entity’s intellectual property (which is satisfied over time). The amendments are intended to render more detailed implementation guidance with the expectation to reduce the degree of judgement necessary to comply with Topic 606. ASC Topic 606 prescribes a new five-step model entities should follow in order to recognize revenue in accordance with the core principle. These five steps are: 1. Identify the contract(s) with a customer. 2. Identify the performance obligations in the contract. 3. Determine the transaction price. 4. Allocate the transaction price to the performance obligations in the contract. 5. Recognize revenue when (or as) the entity satisfied the performance obligations. The Company implemented the transition using the modified retrospective method of transition. The funds are not earned on milestones that have not been reached per the contract. Based on the cut off treatment of the recognition of revenue per the milestones specific to the license agreements, the Company has determined that there are no adjustments in the value of the revenue recognized from these contracts. The Company has one revenue stream, which are the milestone payments of the license agreement with BioRay Pharmaceutical which is not earned or billed until the milestone per the agreement is met. During the three months period ended June 30, 2022, no revenue was received.
Accounts receivable	Accounts receivables are carried at face value less any provisions for uncollectible amounts. Accounts receivable are receivables from a license agreement. No allowance for bad debt was considered necessary for the three months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, the Company did not have any accounts receivable.
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, 2022: Fair value as of March 31, 2022 $ - Additions at fair value 308,330 Change in fair value 527,584 Fair value as of June 30, 2022 $ 835,914

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	3 Months Ended
	Jun. 30, 2022
BASIS OF PRESENTATION
Change in the fair value of the derivative liabilities	Fair value as of March 31, 2022 $ - Additions at fair value 308,330 Change in fair value 527,584 Fair value as of June 30, 2022 $ 835,914

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Jun. 30, 2022
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 8,297,269 9,326,179 Chief Financial Officer 617,346 4,381,223 4,998,569 Total 1,646,256 12,678,492 14,324,748
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 Total $ 430,000

OPTIONS (Tables)

OPTIONS (Tables)	3 Months Ended
	Jun. 30, 2022
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, 2022 930,000 $ 0.34 3.80 930,000 $ - Granted - - - - - Exercised - - - - - Outstanding at June 30, 2022 930,000 $ 0.34 3.55 930,000 $ -

WARRANTS (Tables)

WARRANTS (Tables)	3 Months Ended
	Jun. 30, 2022
WARRANTS
Schedule of Summary of warrants outstanding	Warrants Weighted Average Exercise Price Weighted Average Remaining Contract Life Intrinsic Value Outstanding at March 31, 2021 3,700,000 $ 0.15 2.00 $ - Granted - - - - Exercised - - - - Expired - - - - Outstanding at March 31, 2022 3,700,000 $ 0.15 1.35 $ - Granted 500,000 0.12 1.50 - Exercised (3,700,000 ) - - - Expired - - - - Outstanding as of June 30, 2022 500,000 $ 0.12 1.25 $ -

FAIR VALUE MEASUREMENTS AND D_2

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Tables)	3 Months Ended
	Jun. 30, 2022
WARRANTS
Schedule of change in fair value of derivative liabilities	Level 1 Level 2 Level 3 Fair value of derivative liability as of March 31, 2022 $ - $ - $ - Additions at fair value - - 308,330 Change in fair value of the derivative - - 527,584 Balance at June 30, 2022 $ - $ - $ 835,914
Schedule of estimated fair value drivative assumptions	Risk-free interest rate 2.80 % Expected life in years 0.75 Dividend yield 0 % Expected volatility 129.00 %

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	3 Months Ended
	Jun. 30, 2022 USD ($)
BASIS OF PRESENTATION
Fair value, Beginning Balance	$ 0
Additions at fair value	308,330
Change in fair value	527,584
Fair value, Ending Balance	$ 835,914

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended
	Jun. 30, 2022 shares
Initial Share Awards Under the Contracts	1,646,256
Additional Shares Earned to Maintain Ownership Percentage	12,678,492
Total Shares Earned	14,324,748
President [Member]
Additional Shares Earned to Maintain Ownership Percentage	8,297,269
Total Shares Earned	9,326,179
Initial Share Awards Under the Contracts	1,028,910
Chief Financial Officer [Member]
Additional Shares Earned to Maintain Ownership Percentage	4,381,223
Total Shares Earned	4,998,569
Initial Share Awards Under the Contracts	617,346

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1)	12 Months Ended
	Mar. 31, 2021 USD ($)
Total	$ 430,000
President [Member]
Fiscal Year Annualized Compensation Being Paid	250,000
Chief Financial Officer [Member]
Fiscal Year Annualized Compensation Being Paid	$ 180,000

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Due to officers and directors	$ 16,500		$ 0
Common stock shares issued for services, amount	$ 60,000	$ 5,250
Three Officers and Director [Member]
Common stock shares issued for services, shares	59,716
Common stock shares issued for services, amount	$ 568,719
Two officers and a director [Member]
Common stock shares issued for services, shares	1,052,500
Common stock shares issued for services, amount	$ 305,225
September 1, 2015 [Member] | Three Officers and Director [Member]
Officers and directors employment agreement terms, description	the Company entered five-year employment contracts with three of its officers and directors. One of the officers and director resigned as of September 30, 2020. 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 initially remained at 11% (undated to 18% as noted below) of the outstanding shares of the Company
September 1, 2020 [Member]
Officers and directors employment agreement terms, description	Under the terms of the agreements the Company issued shares of common stock to the two senior officers equaling 18% of the outstanding shares of the Company as additional future shares are issued. The officers are entitled to additional future shares, so their aggregate ownership percentage remains at 18% of the future outstanding shares of the Company

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Common stock shares issued for services		50,000
Common stock shares value for services, amount	$ 60,000	$ 5,250
Common stock shares, issued	117,065,675		111,313,175
Common stock shares issued for exercise of warrants	0
April 1, 2021 [Member]
Preferred stock shares issued upon common stock, shares	54,130
Conversion shares of common stock	1,968,363
Four Entities [Member]
Common stock shares value for exercise of warrants, amount	$ 148,000
Common stock shares, issued	3,700,000
Common stock shares issued for exercise of warrants	3,700,000
Two Officers and Director [Member]
Common stock shares issued for services	1,052,500
Common stock shares value for account payable, amount	$ 305,225
Director [Member]
Common stock shares issued for compensation, value	$ 23,332
Common stock shares issued for compensation, shares	307,010
Medical Director [Member]
Common stock shares value for services, amount	$ 60,000
Common stock shares issued for services	1,000,000
Three Officers and Director [Member]
Common stock shares value for services, amount	$ 568,719
Common stock shares issued for services	59,716

OPTIONS (Details)

OPTIONS (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Options
Option, Beginning Balance	930,000
Options, Exercised	0
Option, Ending Balance	930,000	930,000
Weighted average exercise price
Weighted average exercise price, Beginning	$ 0.34
Weighted average exercise price, Granted	0
Weighted average exercise price, Exercised	0
Weighted average exercise price, Ending	$ 0.34	$ 0.34
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	3 years 9 months 18 days
Weighted Average Remaining Contract life, Ending	3 years 6 months 18 days
Number of option exercisable
Number of option exercisable, Beginning	930,000
Number of option exercisable, Granted	0
Number of option exercisable, Exercise	0
Number of option exercisable, Ending	930,000	930,000
Intrinsic value
Intrinsic value, Beginning	$ 0
Intrinsic value, Granted	0	$ 0
Intrinsic value, Exercised	0	$ 0
Intrinsic value, Ending	$ 0

OPTIONS (Details Narrative)

OPTIONS (Details Narrative)	3 Months Ended
	Jun. 30, 2022 USD ($)
OPTIONS (Details)
Intrinsic value, Ending	$ 0
Weighted average remaining life and intrinsic value	3 years 6 months 18 days

WARRANTS (Details)

WARRANTS (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Number of warrants
Outstanding warrants, Beginning		3,700,000
Outstanding warrants, granted	500,000	0
Outstanding warrants, Exercised	(3,700,000)	0
Outstanding warrants, Expired		0
Outstanding warrants, Ending	500,000	3,700,000
Weighted average exercise price
Weighted average exercise price, Beginning		$ 0.15
Weighted average exercise price, Granted	$ 0.12	0
Weighted average exercise price, Exercised	0	0
Weighted average exercise price, Expired	0	0
Weighted average exercise price, Ending	$ 0.12	$ 0.15
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning		2 years
Weighted Average Remaining Contract life, Granted	1 year 6 months
Weighted Average Remaining Contract life, Ending	1 year 3 months	1 year 4 months 6 days
Intrinsic value
Intrinsic value, Beginning		$ 0
Intrinsic value, Granted	$ 0	0
Intrinsic value, Exercised	0	0
Intrinsic value, Expired	0	0
Intrinsic value, Ending	$ 0	$ 0

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)		3 Months Ended	12 Months Ended
	Apr. 07, 2022	Jun. 30, 2022	Mar. 31, 2021
Deemed dividend from down round			$ 555,000
Exercise price of warrants	$ 0.08
Warrants issued	500,000		3,700,000
Conversion price	$ 0.12		$ 0.15
Volatility rate	132%
Adjustments to additional paid-in capital, warrant issued	$ 21,336
Discount rate	1.78%
Fair value of warrants	$ 26,000
Volatility rate		129%
Warrant [Member]
Fair value of warrants			$ 41
value of warrants			349,605
Total value of warrant			303,000
Fair value of common stock			$ 437,000
Warrants descriptions			As of June 30, 2022 3,700,000 warrants were converted into 3,700,000 shares of common stock for cash at a value for $148,000
Warrant [Member] | Maximum [Member]
Exercise price of warrants			$ 0.11
Discount rate			0.16%
Volatility rate			314.49%
Preferred Stock
Exercise price of warrants			$ 0.08
Discount rate			0.14%
Volatility rate			312.50%

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - USD ($)				1 Months Ended						3 Months Ended
	Apr. 07, 2022	Aug. 10, 2021	Nov. 11, 2020	Mar. 28, 2022	Aug. 16, 2021	Apr. 22, 2021	Apr. 20, 2021	Feb. 16, 2021	Oct. 28, 2020	Jun. 30, 2022
Debt conversion, principle balance				$ 200,000	$ 100,000	$ 82,500	$ 138,000
Accrued interest				9,973	5,000	8,250	6,805
Financing costs				$ 50,000	$ 35,000	$ 24,750	$ 41,400
Risk free interest rate										2.80%
Volatility rate										129%
Expected life										9 months
Series A Convertible Preferred Stock [Member]
Debt conversion, principle balance	$ 25,000	$ 200,000	$ 7,500					$ 5,000	$ 10,000
Convertible debt	$ 275,000		$ 82,500					$ 100,000	$ 138,000
Conversion price, Description	Within 180 days of issuance, the note may be repaid at a premium of 115% of the face value of the note and 150% of the unconverted balance of the note after 180 days and prior to maturity. After 180 days the note may be converted into common stock of the Company at $0.075 per share or a 20% discount to the lowest VWAP (Volume- Weighted Average Pricing) price during the 10 days prior to conversion.	Within 180 days of issuance the note may be repaid at an escalating premium up to 125% of the face value of the note. After 180 days the note was convertible into common stock of the Company at $0.06 per share or a 25% discount to the lowest trading price during the 10 days prior to conversion. The initial derivative was calculated using risk free interest of .05%, volatility of 132% and expected life of 0.50 years.	After 180 days the note was convertible into common stock of the Company at a 35% discount to the lowest trading price during the 20 days prior to conversion.					After 180 days the note was convertible into common stock of the Company at a 30% discount to the lowest trading price during the 15 days prior to conversion. The initial derivative was calculated using risk free interest of .18%, volatility of 213% and expected life of 1.00 years.	After 180 days the note was convertible into common stock of the Company at $0.04 per share or a 30% discount to the VWAP during the 20 days prior to conversion. The initial derivative was calculated using risk free interest of .18%, volatility of 212% and expected life of .50 years.
Risk free interest rate	0.05%	10%	10%					10%
Debt maturity date	Mar. 29, 2023	Feb. 10, 2022	Oct. 28, 2021					Feb. 16, 2022	Oct. 28, 2021
Interest rate	8%								10%
Volatility rate	132%
Expected life	6 months

FAIR VALUE MEASUREMENTS AND D_3

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2021
Additions at fair value	$ 308,330
Fair value of derivative liability as of March 31, 2022	835,914	$ 0
Fair Value, Inputs, Level 3 [Member]
Additions at fair value	308,330
Fair value of derivative liability as of March 31, 2022			$ 0
Change in fair value of the derivative	527,584
Balance at June 30, 2022	835,914
Fair Value, Inputs, Level 1 [Member]
Additions at fair value	0
Fair value of derivative liability as of March 31, 2022			0
Change in fair value of the derivative	0
Balance at June 30, 2022	0
Fair Value, Inputs, Level 2 [Member]
Additions at fair value	0
Fair value of derivative liability as of March 31, 2022			$ 0
Change in fair value of the derivative	0
Balance at June 30, 2022	$ 0

FAIR VALUE MEASUREMENTS AND D_4

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES (Details 1)	3 Months Ended
	Jun. 30, 2022
LICENSE AGREEMENT
Risk-free interest rate	2.80%
Dividend yield	0%
Expected life in years	9 months
Expected volatility	129%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
	Mar. 09, 2020	Sep. 30, 2016	Jun. 30, 2022
Merger, description	Under the program, if an acquisition, merger or change in control is affected, 10% of the value of the transaction will be allocated to pay the expenses of the transaction including but not limited to legal, accounting, transfer fees and other miscellaneous expense. The balance of the fund after expenses will be allocated 20% to directors and 80% to officers and employees of the Company as allocated by the Chief Executive Officer and approved by the Board of Directors
Annual Maintenance			$ 349,960
Investment description		A contingent sales fee upon first commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly
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

LICENSE AGREEMENT (Details Narr

LICENSE AGREEMENT (Details Narrative) - BioRay Pharmaceutical Co LTD [Member]	3 Months Ended
	Jun. 30, 2022 USD ($)
Agreement description	Under the terms of the agreement the Company receives $250,000 upon signing of the agreement plus $750,000 with the start of the phase 1 clinical trials , which started in March 2021. In addition, the Company will receive $750,000 upon the enrollment of the 12th patient or the dosage level of 8.0 mg/kg, whichever is achieved first. Further payment of $2,500,000 will be received when the FDA approves the phase 2 clinical trials and $750,000 when the phase 2 clinical trials begin
Issuance of license agreement	$ 5,000,000
Royalty rate	9%
Net sales	20 years
Agreement	$ 250,000