IASO BioMed (IASO) 10-Q 21 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended	6 Months Ended
	Jun. 30, 2017shares	Jun. 30, 2017shares
Document and Entity Information:
Entity Registrant Name		IASO BIOMED, INC.
Document Type		10-Q
Document Period End Date		Jun. 30, 2017
Trading Symbol		iaso
Amendment Flag		false
Entity Central Index Key		1,662,907
Current Fiscal Year End Date		--12-31
Entity Common Stock, Shares Outstanding	33,637,632	33,637,632
Entity Filer Category		Smaller Reporting Company
Entity Current Reporting Status		Yes
Entity Voluntary Filers		No
Entity Well-known Seasoned Issuer		No
Document Fiscal Year Focus		2,017
Document Fiscal Period Focus		Q2
Entity Incorporation, State Country Name	Colorado
Entity Incorporation, Date of Incorporation	Mar. 11, 2015

IASO BIOMED, INC. - Condensed B

IASO BIOMED, INC. - Condensed Balance Sheets - USD ($)		Jun. 30, 2017	Dec. 31, 2016
Current Assets:
Cash		$ 22,526	$ 13,191
Prepaid expenses		4,376	1,393
Total Currents Assets		26,902	14,584
Total Assets		26,902	14,584
Current Liabilities:
Accounts payable		190,905	28,797
Note payable, related party		25,000	25,000
Accrued salaries		75,000
Accrued interest, related party		941	197
Total Current Liabilities		291,846	53,994
Total Liabilities		291,846	53,994
Commitments and Contingencies	[1]
Stockholders' Deficit
Preferred stock	[2]
Common stock	[3]	3,364	3,343
Additional paid-in capital		896,681	644,762
Accumulated deficit		(1,164,989)	(687,515)
Total Stockholders' Deficit		(264,944)	(39,410)
Total Liabilities and Stockholders' Deficit		$ 26,902	$ 14,584
[1]	See Note 5
[2]	$0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding
[3]	$0.0001 par value; 100,000,000 shares authorized; 33,637,632 and 33,427,632 shares issued and outstanding

Statement of Financial Position

Statement of Financial Position - Parenthetical - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position
Preferred Stock, Par Value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares Issued	33,637,632	33,427,632
Common Stock, Shares Outstanding	33,637,632	33,427,632

IASO BIOMED, INC. - Condensed C

IASO BIOMED, INC. - Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement
Revenues
Operating Expenses:
General and administrative	121,921	26,662	325,652	99,888
Research and development	11,497	0	151,078	295,263
Total operating expenses	133,418	26,662	476,730	395,151
Loss From Operations	(133,418)	(26,662)	(476,730)	(395,151)
Other Expenses:
Interest expense, related party	374		744
Total other expenses	374		744
Net Loss	$ (133,792)	$ (26,662)	$ (477,474)	$ (395,151)
Earnings per Common Share:
Basic and diluted loss per share	$ 0	$ 0	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding:
Basic and diluted	35,586,799	30,817,642	33,540,410	30,817,642

IASO BIOMED, INC. - Condensed 5

IASO BIOMED, INC. - Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net Loss	$ (133,792)	$ (26,662)	$ (477,474)	$ (395,151)
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of stock for license fees				165,263
Share-based compensation			162,940	0
Contributed services			5,000
Changes in assets and liabilities:
Prepaid expenses, increase decrease			(2,983)	(3,964)
Accounts payable, increase decrease			162,108	1,143
Accrued salaries, increase decrease			75,000
Accrued interest, related party, increase decrease			744
Net cash used in operating activities			(74,665)	(232,709)
Cash Flows from Financing Activities:
Proceeds from the sale of common stock			84,000	145,000
Net cash provided by financing activities			84,000	145,000
Net Increase (Decrease) in Cash			9,335	(87,709)
Cash, beginning of period			13,191	113,313
Cash, end of period	$ 22,526	$ 25,604	$ 22,526	$ 25,604

1. Nature of Operations and Sum

1. Nature of Operations and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Notes
1. Nature of Operations and Summary of Significant Accounting Policies:	1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations IASO BioMed, Inc. (“IASO” or the “Company”) is a developmental stage biotechnology company focusing on researching and developing drugs and diagnostic tests for products with a large commercial market potential as well as drugs that may qualify for orphan drug status. The Company is developing a unique, first in class drug that it believes will be a safer alternative to currently available testosterone replacement therapy by stimulating the body’s own production rather than using synthetic hormones and steroids. It is also developing a process, or method, which the Company believes will be the basis for developing an early stage blood or fluid test for Alzheimer’s disease. There is no assurance that these research and development activities will result in products that can be sold. The Company was incorporated as a C-corporation in the state of Colorado on March 11, 2015. It has its primary place of business in Denver, Colorado. Basis of presentation The interim unaudited financial statements presented herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) as of and for the three and six month periods ended June 30, 2017 and 2016. The December 31, 2016 Condensed Balance Sheet included herein was derived from the audited year-end financial statements of the Company. Certain information and footnote disclosures normally included in unaudited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The interim unaudited financial statements should be read in conjunction with the Company’s annual financial statements for the year ended December 31, 2016, notes and accounting policies thereto included in the Company’s Registration Statement on Form S-1. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary to provide a fair presentation of operating results for the interim periods presented have been made. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the year. Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of six months or less to be cash equivalents. Use of Estimates The preparation of the Company’s financial statements, in conformity with generally accepted accounting principles, requires the Company’s management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates. Significant items subject to such estimates include but are not limited to the valuation of share-based awards. Research and Development Costs Share-based Compensation The Company uses the Black-Scholes option-pricing model to estimate the fair value of warrants and the market price of our common stock on the date of grant for the fair value. Our determination of fair value of share-based awards is affected by our stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, and certain other market variables such as the risk-free interest rate. Income Taxes The Company accounts for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Fair Value of Financial Instruments The carrying value of cash and cash equivalents and trade accounts payable are considered to approximate fair value due to the short-term nature of these instruments. Earnings Per Share Basic loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding during the period. Diluted loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding, plus the impact of common shares, if dilutive, resulting from the exercise of outstanding stock options and warrants, plus the conversion of convertible notes. There were 8,660,000 and 8,000,000, respectively, shares excluded as they were anti-dilutive at June 30, 2017 and 2016. Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force),

2. Going Concern

2. Going Concern	6 Months Ended
	Jun. 30, 2017
Notes
2. Going Concern:	2. Going Concern At June 30, 2017 and December 31, 2016, the Company had cash of $22,526 and $13,191, respectively. It also had working capital deficit of $246,944 and $39,410, respectively and an accumulated deficit of $1,164,989 and $687,515, respectively. This raises substantial doubt about the Company's ability to continue as a going concern. Management is taking action to ensure the Company will continue as a going concern for at least one year beyond the date of the issuance of the Company’s financial statements. From March 11, 2015 (Inception) through June 30, 2017, the Company has sold $414,002 in common stock. Common stock sales continue pursuant to the Company’s private placement offering. Additionally, the Company received approval for its Form S-1 Registration Statement with the Securities and Exchange Commission, through which it will offer for sale additional shares of its common stock. These fundraising efforts may not be successful. While there can be no assurances, management believes that these actions will enable the Company to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

3. Related Party Transactions

3. Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Notes
3. Related Party Transactions:	3. Related Party Transactions Note Payable In July 2017, the Company executed an unsecured promissory note to Richard Schell for $18,000 bearing interest at 6% per annum. The principal amount of the note, together with $3.00 in accrued interest, was repaid by the Company a day after execution from the proceeds of the sale of common stock. Services Agreement he Company pays the Company's Corporate Secretary's company $400 per month for reimbursement of certain administrative charges such as computer, internet, phone and similar items. The agreement is on a month-to-month basis and may be terminated at any time by either party. Total expense for the three and six months ended June 30, 2017 were $ 1,200 and $ 2,400 , respectively.

4. Stockholders' Equity

4. Stockholders' Equity	6 Months Ended
	Jun. 30, 2017
Notes
4. Stockholders' Equity:	4. Stockholders’ Equity The Company has the authority to issue 110,000,000 shares of $.0001 par value stock, of which 100,000,000 shares are common stock and 10,000,000 shares are preferred stock. As of June 30, 2017 and December 31, 2016 there were 33,637,632 and 33,427,632 common stock shares issued and outstanding. For the six months ended June 30, 2017, the Company sold $84,000 in its private placement, issuing 210,000 shares of our common stock at $0.40 per share that included warrants to purchase up to 210,000 shares of our common stock exercisable at $0.75 per share for a period of three years from issuance.

5. Commitments and Contingencie

5. Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Notes
5. Commitments and Contingencies:	5. Commitments and Contingencies Royalties · CAD $5,000 on the issuance of the first US patent · CAD $25,000 on the filing of an investigational new drug application or regulatory filing · CAD $50,000 on the initiation of the first Phase II clinical study · CAD $100,000 on the initiation of the first Phase III clinical study · CAD $300,000 on receipt of regulatory approval The Company must also pay milestone payments as follows for the out of body test to identify Alzheimer’s disease as follows: · CAD $5,000 on the issuance of the first US patent · CAD $50,000 on the filing of a 510(k) or PMA application · CAD $200,000 on receipt of regulatory approval In addition, the Company issued 5% of the total number of issued and outstanding shares in the Company’s Series A financing to the same institution, or 1,652,632 shares in March 2016. This agreement, payable in Canadian dollars, exposes the Company to foreign exchange transaction gains and losses. In August 2016, the Company issued an additional 300,000 shares of the Company’s common stock to McGill in lieu of the pre-existing anti-dilution provision. As McGill owns more than 5% of the Company’s outstanding common stock, it is considered a related party. Research Agreement Employment Agreements In March 2017 the Company entered into an employment agreement with its CFO for a two-year term. The CFO will assume his responsibilities on a part time basis until requested by the Board of Directors to become a full-time executive. The base salary of $75,000 per annum is payable to the CFO only upon the Company’s raising of an additional $750,000. When the CFO becomes a full-time executive, his salary will be increased to $125,000 per annum. The CFO also received warrants to purchase 500,000 shares of the Company’s common stock at $0.40 per share for a period of five years after issuance. 250,000 warrants vested upon signing the agreement and the remaining 250,000 vest in March 2018. The CFO will also be eligible to earn discretionary annual performance bonuses upon meeting certain objectives as determined by the Board of Directors. The agreement provides for severance payments. The Company accrued $75,000 in salaries related to these agreements for the six months ended June 30, 2017. Contributed Services

6. Share-based Compensation

6. Share-based Compensation	6 Months Ended
	Jun. 30, 2017
Notes
6. Share-based Compensation	6. Share-based Compensation In March 2017, the Company issued 750,000 warrants to the Company’s officers to purchase shares of our common stock at $0.40 per share. Estimated fair values of warrants granted have been determined using the Black-Scholes option pricing model with the following average assumptions: Risk-free interest rate 1.55 % Expected term 3 years Volatility 154 % Dividend yield 0.00% Fair value $ 0.33 Expected term represents the period that the Company’s stock-based awards are expected to be outstanding. The Company’s historical stock warrant exercise experience does not provide a reasonable basis upon which to estimate expected term. As such, the simplified method was used to calculate the expected term. The Company calculated volatility based on the volatilities of comparable public companies. Total share based compensation was $162,940 and $0 for the six months ended June 30, 2017 and 2016, respectively.

7. Subsequent Events

7. Subsequent Events	6 Months Ended
	Jun. 30, 2017
Notes
7. Subsequent Events:	7. Subsequent Events In July 2017, the Company sold 250,000 units consisting of common stock and warrants to purchase 250,000 shares of common stock at $0.01 per share expiring in three years for a purchase price of $0.40 per unit or a total of $100,000. In August 2017, the holder exercised the warrant and purchased 250,000 shares at $0.01 per share for proceeds to the Company of $2,500. Also in July 2017, the Company sold 50,000 units consisting of 50,000 shares of common stock and warrants to purchase 50,000 shares of common stock at an exercise price of $0.75 per share expiring in three years for a unit price of $0.40 per share, or a total of $20,000. In July 2017, the Company sold 15,000 shares of common stock at $0.50 per share for proceeds of $7,500 pursuant to our Registration Statement on Form S-1. In July 2017, the Company executed an unsecured promissory note to Richard Schell for $18,000 bearing interest at 6% per annum. The principal amount of the note, together with $3.00 in accrued interest, was repaid by the Company a day after execution from the proceeds of the sale of common stock. Management has determined that there are no further events subsequent to the balance sheet date that should be disclosed in these financial statements.

1. Nature of Operations and S13

1. Nature of Operations and Summary of Significant Accounting Policies: Nature of Operations (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Nature of Operations	Nature of Operations IASO BioMed, Inc. (“IASO” or the “Company”) is a developmental stage biotechnology company focusing on researching and developing drugs and diagnostic tests for products with a large commercial market potential as well as drugs that may qualify for orphan drug status. The Company is developing a unique, first in class drug that it believes will be a safer alternative to currently available testosterone replacement therapy by stimulating the body’s own production rather than using synthetic hormones and steroids. It is also developing a process, or method, which the Company believes will be the basis for developing an early stage blood or fluid test for Alzheimer’s disease. There is no assurance that these research and development activities will result in products that can be sold. The Company was incorporated as a C-corporation in the state of Colorado on March 11, 2015. It has its primary place of business in Denver, Colorado.

1. Nature of Operations and S14

1. Nature of Operations and Summary of Significant Accounting Policies: Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Basis of Presentation	Basis of presentation The interim unaudited financial statements presented herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) as of and for the three and six month periods ended June 30, 2017 and 2016. The December 31, 2016 Condensed Balance Sheet included herein was derived from the audited year-end financial statements of the Company. Certain information and footnote disclosures normally included in unaudited financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The interim unaudited financial statements should be read in conjunction with the Company’s annual financial statements for the year ended December 31, 2016, notes and accounting policies thereto included in the Company’s Registration Statement on Form S-1. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary to provide a fair presentation of operating results for the interim periods presented have been made. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the year.

1. Nature of Operations and S15

1. Nature of Operations and Summary of Significant Accounting Policies: Cash and Cash Equivalents (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the statements of cash flows, the Company considers all highly liquid debt instruments purchased with an original maturity of six months or less to be cash equivalents.

1. Nature of Operations and S16

1. Nature of Operations and Summary of Significant Accounting Policies: Use of Estimates (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Use of Estimates	Use of Estimates The preparation of the Company’s financial statements, in conformity with generally accepted accounting principles, requires the Company’s management to make estimates and assumptions that affect the amounts reported in these financial statements and accompanying notes. Actual results could differ from those estimates. Significant items subject to such estimates include but are not limited to the valuation of share-based awards.

1. Nature of Operations and S17

1. Nature of Operations and Summary of Significant Accounting Policies: Research and Development Costs (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Research and Development Costs	Research and Development Costs

1. Nature of Operations and S18

1. Nature of Operations and Summary of Significant Accounting Policies: Share-based Compensation (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Share-based Compensation	Share-based Compensation The Company uses the Black-Scholes option-pricing model to estimate the fair value of warrants and the market price of our common stock on the date of grant for the fair value. Our determination of fair value of share-based awards is affected by our stock price as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, and certain other market variables such as the risk-free interest rate.

1. Nature of Operations and S19

1. Nature of Operations and Summary of Significant Accounting Policies: Income Taxes (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Income Taxes	Income Taxes The Company accounts for income taxes under the liability method, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statements and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.

1. Nature of Operations and S20

1. Nature of Operations and Summary of Significant Accounting Policies: Fair Value of Financial Instruments (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of cash and cash equivalents and trade accounts payable are considered to approximate fair value due to the short-term nature of these instruments.

1. Nature of Operations and S21

1. Nature of Operations and Summary of Significant Accounting Policies: Earnings Per Share (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Earnings Per Share	Earnings Per Share Basic loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding during the period. Diluted loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding, plus the impact of common shares, if dilutive, resulting from the exercise of outstanding stock options and warrants, plus the conversion of convertible notes. There were 8,660,000 and 8,000,000, respectively, shares excluded as they were anti-dilutive at June 30, 2017 and 2016.

1. Nature of Operations and S22

1. Nature of Operations and Summary of Significant Accounting Policies: Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2017
Policies
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-02, Leases In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force),

6. Share-based Compensation_ Sc

6. Share-based Compensation: Schedule of Assumptions Used (Tables)	6 Months Ended
	Jun. 30, 2017
Tables/Schedules
Schedule of Assumptions Used	Risk-free interest rate 1.55 % Expected term 3 years Volatility 154 % Dividend yield 0.00% Fair value $ 0.33

1. Nature of Operations and S24

1. Nature of Operations and Summary of Significant Accounting Policies: Nature of Operations (Details)	3 Months Ended
	Jun. 30, 2017
Details
Entity Incorporation, State Country Name	Colorado
Entity Incorporation, Date of Incorporation	Mar. 11, 2015

1. Nature of Operations and S25

1. Nature of Operations and Summary of Significant Accounting Policies: Research and Development Costs (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Details
Research and development	$ 11,497	$ 0	$ 151,078	$ 295,263

1. Nature of Operations and S26

1. Nature of Operations and Summary of Significant Accounting Policies: Earnings Per Share (Details) - shares	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Details
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	8,660,000	8,000,000

2. Going Concern (Details)

2. Going Concern (Details) - USD ($)	28 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Cash	$ 22,526	$ 13,191
Total Stockholders' Deficit	264,944	39,410
Accumulated deficit	1,164,989	$ 687,515
Private Placement
Sale of Stock, Consideration Received on Transaction	$ 414,002

3. Related Party Transactions (

3. Related Party Transactions (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Jul. 31, 2017	Dec. 31, 2016
Note payable, related party	$ 25,000	$ 25,000		$ 25,000
Accrued interest, related party	941	941		197
Chief Executive Officer
Note payable, related party	$ 25,000	$ 25,000	$ 18,000
Accounts Payable, Interest-bearing, Interest Rate	6.00%	6.00%	6.00%
Accrued interest, related party	$ 941	$ 941		$ 197
Corporate Secretary
Reimbursement Revenue	$ 1,200	$ 2,400

4. Stockholders' Equity (Detail

4. Stockholders' Equity (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Excess Stock, Shares Authorized	110,000,000
Common Stock, Par Value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Shares Outstanding	33,637,632	33,427,632
Private Placement
Stock Issued During Period, Value, New Issues	$ 84,000
Stock Issued During Period, Shares, New Issues	210,000
Sale of Stock, Price Per Share	$ 0.40
Private Placement | Warrant
Common Stock, Capital Shares Reserved for Future Issuance	210,000

5. Commitments and Contingenc30

5. Commitments and Contingencies (Details)

1 Months Ended

3 Months Ended

6 Months Ended

Mar. 31, 2018shares

Sep. 30, 2017USD ($)

Jun. 30, 2017USD ($)

Apr. 30, 2017USD ($)

Mar. 31, 2017USD ($)$ / sharesshares

May 31, 2016USD ($)

Jan. 31, 2016USD ($)

Jan. 31, 2016CAD

Jun. 30, 2017USD ($)

Jun. 30, 2016USD ($)

Jun. 30, 2017USD ($)

Jun. 30, 2016USD ($)

Aug. 31, 2016shares

Mar. 31, 2016USD ($)shares

Jan. 30, 2016USD ($)

Jan. 02, 2016

Percentage of Royalty

3.00%

Royalty Expense | CAD

CAD 5,000

Research and development

$ 11,497

$ 0

$ 151,078

$ 295,263

Accrued Salaries, Current

$ 75,000

$ 75,000

75,000

Officers' Compensation

$ 5,000

Testosterone Replacement Therapy | Milestone One

Milestone Payments | CAD

5,000

Testosterone Replacement Therapy | Milestone Two

Milestone Payments | CAD

25,000

Testosterone Replacement Therapy | Milestone Three

Milestone Payments | CAD

50,000

Testosterone Replacement Therapy | Milestone Four

Milestone Payments | CAD

100,000

Testosterone Replacement Therapy | Milestone Five

Milestone Payments | CAD

300,000

Alzheimer Disease | Milestone One

Milestone Payments | CAD

5,000

Alzheimer Disease | Milestone Two

Milestone Payments | CAD

50,000

Alzheimer Disease | Milestone Three

Milestone Payments | CAD

CAD 200,000

Series A financing

Percentage of Issued and Outstanding Shares Issued As Milestone Payments

5.00%

Common Stock Shares Issued for Milestone Payment | shares

1,652,632

McGill

Shares, Issued | shares

300,000

Equity Method Investment, Ownership Percentage

5.00%

Research Agreement

Amount Payable Under Agreement

$ 130,000

$ 130,000

Research and development

$ 55,000

$ 55,000

$ 20,000

Research Agreement | Transaction One

Research and development

$ 65,000

Research Agreement | Transaction Two

Research and development

$ 65,000

Employment Agreements | Chief Executive Officer

Salaries, Wages and Officers' Compensation

$ 150,000

Additional Capital to be Raised as Target

$ 750,000

Warrants Issued | shares

250,000

Investment Warrants, Exercise Price | $ / shares

$ 0.40

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | shares

125,000

125,000

Employment Agreements | CFO

Salaries, Wages and Officers' Compensation

$ 75,000

Additional Capital to be Raised as Target

$ 750,000

Warrants Issued | shares

500,000

Investment Warrants, Exercise Price | $ / shares

$ 0.40

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | shares

250,000

250,000

6. Share-based Compensation (De

6. Share-based Compensation (Details) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Share-based compensation	$ 162,940	$ 0
Officer
Class of Warrant or Right, Outstanding			750,000
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 0.40

6. Share-based Compensation_ 32

6. Share-based Compensation: Schedule of Assumptions Used (Details)	3 Months Ended
	Jun. 30, 2017$ / shares
Details
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.55%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	154.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price	$ 0.33

7. Subsequent Events (Details)

7. Subsequent Events (Details) - USD ($)	1 Months Ended
	Jul. 31, 2017	Aug. 31, 2017
Subsequent Event
Stock Issued During Period, Shares, New Issues	250,000
Sale of Common Stock Per Share	$ 0.40
Stock Issued During Period, Value, New Issues	$ 100,000
Class of Warrant or Right, Outstanding		250,000
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.01
Warrant Proceeds		$ 2,500
Subsequent Event 2
Stock Issued During Period, Shares, New Issues	50,000
Sale of Common Stock Per Share	$ 0.40
Pursuant to Registration Statement
Stock Issued During Period, Shares, New Issues	15,000
Sale of Common Stock Per Share	$ 0.50
Proceeds from Sale of Common Stock	$ 7,500
Richard Schell
Unsecured Promissory Note	$ 18,000
Short-term Debt, Percentage Bearing Fixed Interest Rate	6.00%