Nascent Biotech (NBIO) 10-Q 14 Aug 24 2025 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Jun. 30, 2024	Aug. 14, 2024
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, 2024
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Entity Common Stock Shares Outstanding		172,202,165
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 Address Address Line 1	631 US Hwy 1, Suite 407
Entity Address Address Line 2	Suite 407
Entity Address City Or Town	North Palm Beach
Entity Address State Or Province	FL
Entity Address Postal Zip Code	32408
City Area Code	612
Local Phone Number	961-5656
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2024	Mar. 31, 2024
Current assets:
Cash	$ 47,391	$ 372,120
Prepaid	180,000	180,000
Total current assets	227,391	552,120
Total assets	227,391	552,120
Current liabilities:
Accounts payable and accrued liabilities	682,931	686,294
Convertible note- net of discount	59,000	122,500
Total current liabilities	741,931	808,794
Total liabilities	741,931	808,794
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, 172,202,165 and 170,594,165 issued and outstanding, respectively	172,202	170,594
Additional paid-in capital	23,951,105	23,833,189
Accumulated deficit	(24,637,847)	(24,260,457)
Total stockholders' deficit	(514,540)	(256,674)
Total liabilities and stockholders' deficit	$ 227,391	$ 552,120

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2024	Mar. 31, 2024
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	172,202,165	170,594,165
Common stock shares outstanding	172,202,165	170,594,165

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating expenses:
Consulting	$ 138,920	$ 229,362
General and administrative expense	106,084	87,750
Clinical trials	1,032	32,444
Manufacturing and filling	114,626	136,507
Research and development	15,000	25,910
Loss from operations	(375,662)	(511,973)
Other income (expense):
Interest income	224	21
Change in fair value of derivative	0	159,444
Gain on debt settlement	0	50,000
Interest expense	(1,952)	(237,716)
Total other income (expense)	(1,728)	(28,250)
Net loss	$ (377,390)	$ (540,224)
Net loss per share, basic and diluted	$ 0	$ (0.01)
Weighted average number of shares outstanding, basic and diluted	170,657,418	139,952,376

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS DEFICIT (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance, shares at Mar. 31, 2023		131,764,348
Balance, amount at Mar. 31, 2023	$ (1,296,137)	$ 131,764	$ 20,194,874	$ (21,622,775)
Common stock issued to related parties, shares		2,235,250
Common stock issued to related parties, amount	111,762	$ 2,235	109,527	0
Common stock issued for convertible debt, shares		9,537,180
Common stock issued for convertible debt, amount	367,796	$ 9,537	358,259	0
Common stock issued for service, shares		100,000
Common stock issued for service, amount	5,600	$ 100	5,500	0
Change in derivative at conversion	191,258	0	191,258	0
Option discount	4,911	0	4,911	0
Net loss	(540,224)	$ 0	0	(540,224)
Balance, shares at Jun. 30, 2023		143,636,778
Balance, amount at Jun. 30, 2023	(1,115,034)	$ 143,636	20,864,329	(22,162,999)
Balance, shares at Mar. 31, 2024		170,594,165
Balance, amount at Mar. 31, 2024	(256,674)	$ 170,594	23,833,189	(24,260,457)
Common stock issued to related parties, shares		338,000
Common stock issued to related parties, amount	30,920	$ 338	30,582	0
Common stock issued for convertible debt, shares		1,270,000
Common stock issued for convertible debt, amount	63,500	$ 1,270	62,230	0
Option discount	25,104	0	25,104	0
Net loss	(377,390)	$ 0	0	(377,390)
Balance, shares at Jun. 30, 2024		172,202,165
Balance, amount at Jun. 30, 2024	$ (514,540)	$ 172,202	$ 23,951,105	$ (24,637,847)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (377,390)	$ (540,224)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock based compensation - related parties	30,920	111,762
Stock-based compensation	0	5,600
(Gain) loss in fair value of derivative liability	0	(159,444)
Debt discount amortization	0	232,381
Gain on debt settlement	0	(50,000)
Stock option expense	25,104	4,911
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	(3,363)	218,934
Prepaid	0	13,374
Net cash provided by (used in) operating activities	(324,729)	(162,706)
Net increase (decrease) in cash	(324,729)	(162,706)
Cash -beginning of year	372,120	172,186
Cash -end of period	47,391	9,480
SUPPLEMENT DISCLOSURES:
Interest paid	0	0
Income taxes paid	0	0
Non-Cash Transactions
Common stock issued for debt conversion	63,500	358,259
Retirement of derivative at conversion of debt	$ 0	$ 191,258

ORGANIZATION AND NATURE OF OPER

ORGANIZATION AND NATURE OF OPERATIONS	3 Months Ended
	Jun. 30, 2024
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, 2024 the Company had completed the phase 1 clinical trials and was cleared by the FDA to begin phase 2 clinical trials.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Jun. 30, 2024
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, 2024 and 2023 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, 2024. 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 no source of revenue and is in the development stage. Derivative debt In August 2020, the FASB issued ASU 2020-06 Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) ASC 470-20 ASC 740-10-55-51 The amendments in the ASU are effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted at the beginning of an entity’s annual fiscal year, but no earlier than fiscal years beginning after December 15, 2020. As of June 30, 2024, the Company’s debt was convertible at a fixed amount, thus the calculation of derivative liability does not apply.

GOING CONCERN

GOING CONCERN	3 Months Ended
	Jun. 30, 2024
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 of $514,540 and has incurred losses from operations during the quarter ending June 30, 2024, of $377,390. 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, 2024
RELATED PARTY TRANSACTIONS
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, 2024: Officer and Director Initial Share Awards Under the Contracts Additional Shares Earned to Maintain Ownership Percentage Total Shares Earned President 1,028,910 14,904,669 15,933,579 Chief Financial Officer 617,346 7,684,673 8,302,019 Total 1,646,256 22,589,342 24,235,598 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 $ 252,000 Chief Financial Officer $ 180,000 Total $ 430,000 During the three months ended June 30, 2023, two officers and a director were issued 2,235,250 shares of common stock with a value of $111,763 for service. During the three months ended June 30, 2024, two officers and a director were issued 338,000 shares of common stock with a value of $30,920 for service.

EQUITY

EQUITY	3 Months Ended
	Jun. 30, 2024
EQUITY
EQUITY	NOTE 5 – EQUITY Common On July 9, 2020, the Company increased its authorized shares to 550,000,000 consisting of 500,000,000 shares of common stock and 50,000,000 shares of preferred stock all at the par value of $0.001. During the three months ended June 30, 2023, two officers and a director were issued 2,235,250 shares of common stock with a value of $111,763 for service. During the three months ended June 30, 2023, the Company issued 9,537,180 shares of common stock with a value of $367,796 for the conversion of debt and accrued interest. During the three months ended June 30, 2023, the Company issued 100,000 shares of common stock with a value of $5,600 for service. During the three months ended June 30, 2024, the Company issued 1,270,000 shares of common stock with the value of $63,500 for the conversion of convertible debt. During the three months period ended June 30, 2024, the Company issued 338,000 shares of common stock with a value of $30,920 to officers and a director for service.

OPTIONS

OPTIONS	3 Months Ended
	Jun. 30, 2024
OPTIONS
OPTIONS	NOTE 6– OPTIONS As of June 30, 2024, the Company recognized $25,104 in option expense leaving a balance of /recognized option expense of $37,569. The following sets forth the options granted and outstanding during the three months ended June 30, 2024: Weighted Weighted Average Average Remaining Number of Exercise Contract Options Intrinsic Options Price Life Exercisable Value Outstanding at March 31, 2024 930,000 $ 0.34 2.81 930,000 $ - Granted 500,000 0.10 - -- - Exercised/Forfeited (30,000 ) -- -- -- - Outstanding at June 30, 2024 1,400,000 $ 0.28 5.23 1,030,000 $ - The weighted average remaining life and intrinsic value of the options as of June 30, 2024, was 5.23 years and zero, respectively.

WARRANTS

WARRANTS	3 Months Ended
	Jun. 30, 2024
WARRANTS
WARRANTS	NOTE 7 – WARRANTS On August 31, 2022, the Company issued 750,000 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 $0.41 per share, conversion price of $0.60 per share, volatility of 137% and discount of 3.50%. The fair value of the warrants was calculated to be $ 188,760 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 that were allocated to the warrants of $9,902 is accounted for as paid in capital. On September 2, 2022, the Company issued 250,000 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 $0.345 per share, conversion price of $0.60 per share, volatility of 137% and discount of 3.47%. The fair value of the warrants was calculated to be $50,273 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 were allocated to the warrants of $2,484 is accounted for as paid in capital. The 1,000,000 warrants outstanding contain an anti-dilution clause which become effective if any instrument is issued after the warrant issuance is converted into common stock at a price lower than the warrant conversion price. During the year ended March 31, 2023, the valuation resulted in a deemed dividend from the down round calculation of $550,000 with a recalculated conversion price change to $0.05 per share On January 30, 2024, the Company issued 250,000 warrants as part of purchase, for cash, of 1,000,000 shares of common stock. The warrant expires on January 29, 2027. 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 $0.11 per share, conversion price of $0.60 per share, volatility of 158% and discount of 5.20%. The fair value of the warrants was calculated to be $18,280. The weighted average remaining life and intrinsic value of the warrants as of June 30, 2024, was: Weighted Weighted Average Average Exercise Remaining Intrinsic Warrants Price Contract Life Value Outstanding as of March 31, 2024 1,250,000 $ 0.16 0.95 $ 134,500 Granted - - -- - Exercised - - -- - Expired -- - -- - Outstanding as of June 30, 2024 1,250,000 $ 0.16 0.70 $ 38,900 As of June 30, 2024, there were 1,250,000 warrants outstanding.

CONVERTIBLE DEBT

CONVERTIBLE DEBT	3 Months Ended
	Jun. 30, 2024
CONVERTIBLE DEBT
CONVERTIBLE DEBT	NOTE 8 - CONVERTIBLE DEBT On December 1, 2023, the Company issued an amended convertible debenture to an unrelated third party under the agreement dated September 2, 2022 (noted in the paragraph above), totaling $250,000. The debenture had an original discount of 10% with no accrued interest and matures on May 30, 2024. The note is convertible into common stock of the Company at the rate of $0.10 per share. On December 6, 2023, the note holder converted $125,000 of the note into 1,250,000 shares of common stock of the Company. As of March 31, 2024, the outstanding balance of the note was $125,000. On May 30, 2024, the Note was extended to August 31, 2024, with an interest rate of 10% per annum and the conversion rate for an initial conversion was amended to $0.05 per share. On June 26, 2024, the Company issued 1,270,000 shares of common stock for the conversion of $63,500 of convertible debt. The balance of the note as of June 30, 2024, was $59,000, net of discount, plus interest.

FAIR VALUE MEASUREMENTS AND DER

FAIR VALUE MEASUREMENTS AND DERIVATIVE LIABILITIES	3 Months Ended
	Jun. 30, 2024
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, 2024, 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.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2024
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, 2024, the outstanding balance was $50,000. 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Jun. 30, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 11 - SUBSEQUENT EVENTS The Company has evaluated subsequent events to determine events occurring after June 30, 2024, 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, 2024
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 no source of revenue and is in the development stage.
Derivative debt	In August 2020, the FASB issued ASU 2020-06 Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40) ASC 470-20 ASC 740-10-55-51 The amendments in the ASU are effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted at the beginning of an entity’s annual fiscal year, but no earlier than fiscal years beginning after December 15, 2020. As of June 30, 2024, the Company’s debt was convertible at a fixed amount, thus the calculation of derivative liability does not apply.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Jun. 30, 2024
RELATED PARTY TRANSACTIONS
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 14,904,669 15,933,579 Chief Financial Officer 617,346 7,684,673 8,302,019 Total 1,646,256 22,589,342 24,235,598
Schedule of future outstanding shares	Officer and Director Fiscal Year Annualized Compensation Being Paid President $ 252,000 Chief Financial Officer $ 180,000 Total $ 430,000

OPTIONS (Tables)

OPTIONS (Tables)	3 Months Ended
	Jun. 30, 2024
OPTIONS
Schedule of Summary of stock options outstanding	Weighted Weighted Average Average Remaining Number of Exercise Contract Options Intrinsic Options Price Life Exercisable Value Outstanding at March 31, 2024 930,000 $ 0.34 2.81 930,000 $ - Granted 500,000 0.10 - -- - Exercised/Forfeited (30,000 ) -- -- -- - Outstanding at June 30, 2024 1,400,000 $ 0.28 5.23 1,030,000 $ -

WARRANTS (Tables)

WARRANTS (Tables)	3 Months Ended
	Jun. 30, 2024
WARRANTS
Schedule of weighted average remaining life and intrinsic value of the warrants	Weighted Weighted Average Average Exercise Remaining Intrinsic Warrants Price Contract Life Value Outstanding as of March 31, 2024 1,250,000 $ 0.16 0.95 $ 134,500 Granted - - -- - Exercised - - -- - Expired -- - -- - Outstanding as of June 30, 2024 1,250,000 $ 0.16 0.70 $ 38,900

GOING CONCERN (Details Narrativ

GOING CONCERN (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
GOING CONCERN
Net loss	$ (377,390)	$ (540,224)
Working capital deficit	$ (514,540)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details)	3 Months Ended
	Jun. 30, 2024 shares
Initial Share Awards Under the Contracts	1,646,256
Additional Shares Earned to Maintain Ownership Percentage	22,589,342
Total Shares Earned	24,235,598
President [Member]
Initial Share Awards Under the Contracts	1,028,910
Additional Shares Earned to Maintain Ownership Percentage	14,904,669
Total Shares Earned	15,933,579
Chief Financial Officer [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	7,684,673
Total Shares Earned	8,302,019

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1)	3 Months Ended
	Jun. 30, 2024 USD ($)
Fiscal Year Annualized Compensation Being Paid	$ 430,000
President [Member]
Fiscal Year Annualized Compensation Being Paid	252,000
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, 2024	Jun. 30, 2023
Common stock shares issued for services, amount		$ 5,600
September 1, 2020 [Member]
Officers and directors employment agreement terms, description	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
Two Officers And A Director
Common stock shares issued for services, shares	338,000	2,235,250
Common stock shares issued for services, amount	$ 30,920	$ 111,763
Three Officers and Director [Member] | September 1, 2015 [Member]
Officers and directors employment agreement terms, description	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

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Jul. 09, 2020
Common stock shares issued for services, amount		$ 5,600
Common stock shares issued during period for conversion of debt and accrued interest, shares		9,537,180
Common stock shares issued during period for conversion of debt and accrued interest, amount		$ 367,796
Total number of authorized shares				550,000,000
Preferred stock shares authorized	50,000,000		50,000,000	50,000,000
Common stock shares authorized	500,000,000		500,000,000	500,000,000
Common stock shares par value	$ 0.001		$ 0.001	$ 0.001
Conversion of convertible debt [Member]
Common stock shares issued for services, shares	1,270,000
Common stock shares issued for services, amount	$ 63,500
Stock Issue For Services [Member]
Common stock shares issued for services, shares		100,000
Common stock shares issued for services, amount		$ 5,600
Two Officers And A Director
Common stock shares issued for services, shares	338,000	2,235,250
Common stock shares issued for services, amount	$ 30,920	$ 111,763

OPTIONS (Details)

OPTIONS (Details)	3 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Options
Number of option exercisable, Beginning	930,000
Outstanding option, Granted	500,000
Outstanding option, Exercised/Forfeited	(30,000)
Number of option exercisable, Ending	1,400,000
Weighted average exercise price
Weighted average exercise price, Beginning | $ / shares	$ 0.34
Weighted average exercise price granted | $ / shares	0.10
Weighted average exercise price, Ending | $ / shares	$ 0.28
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	2 years 9 months 21 days
Weighted Average Remaining Contract life, Ending	5 years 2 months 23 days
Number of option exercisable
Outstanding option, Beginning	930,000
Outstanding option, Ending	1,030,000
Intrinsic value
Intrinsic value, Beginning | $	$ 0
Intrinsic value, Granted | $	0
Intrinsic value, Exercised/Forfeited | $	0
Intrinsic value, Ending | $	$ 0

OPTIONS (Details Narrative)

OPTIONS (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
OPTIONS
Option expense	$ 25,104	$ 4,911
Recognized option expense	$ 37,569
Weighted Average Remaining Contract life	5 years 2 months 23 days
Intrinsic value	$ 0

WARRANTS (Details)

WARRANTS (Details)	3 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Number of warrants
Outstanding warrants, Beginning | shares	1,250,000
Outstanding warrants, Granted | shares	0
Outstanding warrants, Expired | shares	0
Outstanding warrants, Exercised | shares	0
Outstanding warrants, Ending | shares	1,250,000
Weighted average exercise price
Weighted average exercise price, Beginning | $ / shares	$ 0.16
Weighted average exercise price, Granted | $ / shares	0
Weighted average exercise price, Exercised | $ / shares	0
Weighted average exercise price, Expired | $ / shares	0
Weighted average exercise price, Ending | $ / shares	$ 0.16
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	11 months 12 days
Weighted Average Remaining Contract life, Ending	8 months 12 days
Intrinsic value
Intrinsic value, Beginning | $	$ 134,500
Intrinsic value, Granted | $	0
Intrinsic value, Exercised | $	0
Intrinsic value, Expired | $	0
Intrinsic value, Ending | $	$ 38,900

WARRANTS (Details Narrative)

WARRANTS (Details Narrative) - USD ($)		1 Months Ended		12 Months Ended
	Sep. 02, 2022	Jan. 30, 2024	Aug. 31, 2022	Mar. 31, 2023	Jun. 30, 2024
WARRANTS
Warrant Issued	250,000	250,000	750,000
Warrant outstanding				1,000,000	1,250,000
Exercise price of warrants	$ 0.345	$ 0.11	$ 0.41
Warrants conversion price	$ 0.60	$ 0.60	$ 0.60
Volatility rate	137%	158%	137%
Discount rate	3.47%	5.20%	3.50%
Fair value of warrants	$ 50,273	$ 18,280	$ 188,760
Adjustments to additional paid-in capital, warrant issued	$ 2,484		$ 9,902
Deemed dividend				$ 550,000
Conversion price				$ 0.05
Coversion of Warrant to common stock		1,000,000

CONVERTIBLE DEBT (Details Narra

CONVERTIBLE DEBT (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
	Dec. 06, 2023	Jan. 30, 2024	Jun. 30, 2024	Jun. 26, 2024	Mar. 31, 2024	Mar. 31, 2023
Issuance of aggregate shares of common stock, shares			172,202,165		170,594,165
Conversion price per share						$ 0.05
Convertible common stock shares		1,000,000
May 30 2024 [Member]
Issuance of aggregate shares of common stock, shares				1,270,000
Conversion price per share			$ 0.05
Convertible debentures with unrelated party				$ 63,500
Accrued interest			$ 59,000
Convertible Interest rate			10%
December 1 2023 [Member]
Issuance amount of convertible debenture			$ 250,000
Discount rate			10%
Maturity date			May 30, 2024
Convertion price			$ 0.10
Convertible common stock shares	1,250,000
Convertible common stock amount	$ 125,000
Outstanding balance			$ 125,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)		1 Months Ended
	Mar. 09, 2020	Jun. 30, 2016	Jun. 30, 2024
Contingent sales fee description		A contingent sales fee upon first commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly
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
Outstanding balance			$ 50,000
First Phase III clinical trial [Member]
Future payments		$ 225,000
First BLA [Member]
Future payments		225,000
First Phase I clinical trial [Member]
Future payments		100,000
Annual maintenance fee		$ 50,000