2023 Q1 Form 10-K Financial Statement

#000149315223011692 Filed on April 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $207.5K $254.7K $1.149M
YoY Change 14.26% 73.33% 96.29%
% of Gross Profit
Research & Development $180.9K $14.24K $14.24K
YoY Change -90.68%
% of Gross Profit
Depreciation & Amortization $13.38K
YoY Change
% of Gross Profit
Operating Expenses $401.8K $268.9K $1.163M
YoY Change 83.02% 57.62%
Operating Profit -$401.8K -$1.163M
YoY Change 121.25% 57.62%
Interest Expense $14.30K -$13.30K $120.4K
YoY Change -115.51% -71.21% -87.55%
% of Operating Profit
Other Income/Expense, Net -$14.30K $0.00 -$2.373M
YoY Change -99.37% -100.0% -189.7%
Pretax Income -$416.1K -$278.9K -$3.536M
YoY Change -83.72% 36.32% -198.61%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$416.1K -$278.9K -$3.536M
YoY Change -83.72% 36.32% -198.61%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 -$0.10
Diluted Earnings Per Share $0.00 $0.00 -$0.10
COMMON SHARES
Basic Shares Outstanding 83.30M shares 82.76M shares 36.29M shares
Diluted Shares Outstanding 83.24M shares 36.29M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.99K $150.5K $150.5K
YoY Change -95.62% -95.21% -95.21%
Cash & Equivalents $34.99K $150.5K
Short-Term Investments $0.00 $0.00
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $34.99K $150.5K $150.5K
YoY Change -95.62% -95.21% -95.21%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $12.61K $50.73K $50.73K
YoY Change
Total Long-Term Assets $761.7K $813.2K $813.2K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $34.99K $150.5K $150.5K
Total Long-Term Assets $761.7K $813.2K $813.2K
Total Assets $796.7K $963.7K $963.7K
YoY Change -0.3% -69.3% -69.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.300M $1.300M $1.300M
YoY Change -40.1% -40.48% -40.48%
Accrued Expenses $151.1K $136.1K $536.5K
YoY Change -96.54% -43.2% -87.3%
Deferred Revenue
YoY Change
Short-Term Debt $1.288M $1.091M $1.091M
YoY Change -68.2% -72.46% -72.46%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.576M $3.477M $3.477M
YoY Change -68.36% -68.64% -68.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.576M $3.477M $3.477M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $3.576M $3.477M $3.477M
YoY Change -68.36% -68.64% -68.64%
SHAREHOLDERS EQUITY
Retained Earnings -$383.4M -$383.0M
YoY Change 0.93%
Common Stock $380.6M $380.4M
YoY Change 2.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.780M -$2.513M -$2.513M
YoY Change
Total Liabilities & Shareholders Equity $796.7K $963.7K $963.7K
YoY Change -0.3% -69.3% -69.3%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$416.1K -$278.9K -$3.536M
YoY Change -83.72% 36.32% -198.61%
Depreciation, Depletion And Amortization $13.38K
YoY Change
Cash From Operating Activities -$265.5K $415.1K -$581.8K
YoY Change 365.79% -3839.19% 151.09%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$500.0K -$500.0K
YoY Change
Cash From Investing Activities -$500.0K -$500.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $150.0K 50.00K $738.4K
YoY Change -89.49% 3.19%
NET CHANGE
Cash From Operating Activities -$265.5K 415.1K -$581.8K
Cash From Investing Activities -500.0K -$500.0K
Cash From Financing Activities $150.0K 50.00K $738.4K
Net Change In Cash -$115.5K -34.95K -$343.4K
YoY Change 102.63% -107.52%
FREE CASH FLOW
Cash From Operating Activities -$265.5K $415.1K -$581.8K
Capital Expenditures
Free Cash Flow
YoY Change

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NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
483914 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
493885 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9971 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
150491 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
493885 usd
CY2022 IMUN Reclassification To Notes Payable From Accrued Interest
ReclassificationToNotesPayableFromAccruedInterest
7006492 usd
CY2021 IMUN Reclassification To Notes Payable From Accrued Interest
ReclassificationToNotesPayableFromAccruedInterest
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CY2022 IMUN Conversion Of Notes And Accrued Interest To Common Stock
ConversionOfNotesAndAccruedInterestToCommonStock
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CY2021 IMUN Conversion Of Notes And Accrued Interest To Common Stock
ConversionOfNotesAndAccruedInterestToCommonStock
56480 usd
CY2022 us-gaap Stock Issued1
StockIssued1
262500 usd
CY2022Q4 us-gaap Cash
Cash
150491 usd
CY2022Q4 IMUN Working Capital
WorkingCapital
3326682 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-2513454 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3536076 usd
CY2022 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
2645000 usd
CY2022 IMUN Weighted Average Number Of Share Outstanding Basic
WeightedAverageNumberOfShareOutstandingBasic
36260359 shares
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_z4guI0FK8IQd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_zDITvu0LLWM2">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from such estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_zuvM94YBBgo4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_869_zCYxklONYN3c">Concentration of Credit Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents. The Company is exposed to credit risk, subject to federal deposit insurance, in the event of a default by the financial institutions holding its cash and cash equivalents to the extent of amounts recorded on the balance sheets. The cash accounts are insured by the Federal Deposit Insurance Corporation up to $<span id="xdx_90C_eus-gaap--CashFDICInsuredAmount_iI_c20221231_zjbn5lPBxPff" title="Cash at federal deposit">250,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022 IMUN Effect Of Warrants And Notes Payable Convertible Into Common Stock
EffectOfWarrantsAndNotesPayableConvertibleIntoCommonStock
-3536076 usd
CY2022 IMUN Weighted Average Number Of Diluted Share Outstanding
WeightedAverageNumberOfDilutedShareOutstanding
36260359 shares
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2022 IMUN Share Based Compensation Arrangements By Share Based Payment Award Non Options Exercises In Period Weighted Average Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodWeightedAveragePrice
0.05
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
38495 shares
CY2022Q4 IMUN Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAveragePrice
59.42
CY2022 us-gaap Derivatives Reporting Of Derivative Activity
DerivativesReportingOfDerivativeActivity
<p id="xdx_842_eus-gaap--DerivativesReportingOfDerivativeActivity_znhmdh0VHcBg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86A_z7uYZC30UN22">Derivative Financial Instruments</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">FASB ASC 815, Fair Value Measurements requires bifurcation of certain embedded derivative instruments in certain debt or equity instruments, and measurement at their fair value for accounting purposes. A holder redemption feature embedded in the Company’s note payable requires bifurcation from its host instrument and is accounted for as a freestanding derivative. The Company held no derivative financial instruments at December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
38495 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15218668 shares
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3536076 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
696478 usd
CY2021Q4 us-gaap Notes Payable Current
NotesPayableCurrent
3070208 usd
CY2022Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
64455 usd
CY2021Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
564300 usd
CY2022 IMUN Gain Loss On Settlement Of Obligations
GainLossOnSettlementOfObligations
-1166418 usd
CY2021 IMUN Gain Loss On Settlement Of Obligations
GainLossOnSettlementOfObligations
711892 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
750000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
83045857 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
483714 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
38495 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
20081035 shares
CY2020Q4 IMUN Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAveragePrice
4.22
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
23873 shares
CY2021 IMUN Share Based Compensation Arrangement By Share Based Payment Award Non Options Forfeitures And Expirations In Period Weighted Average Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeituresAndExpirationsInPeriodWeightedAveragePrice
144.78
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
20057162 shares
CY2021Q4 IMUN Share Based Compensation Arrangement By Share Based Payment Award Non Options Outstanding Weighted Average Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsOutstandingWeightedAveragePrice
5.21
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
2293667 shares
CY2022 IMUN Share Based Compensation Arrangement By Share Based Payment Award Non Options Forfeitures And Expirations In Period Weighted Average Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionsForfeituresAndExpirationsInPeriodWeightedAveragePrice
205.25
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
17725000 shares
CY2022 IMUN Share Based Compensation Arrangements By Share Based Payment Award Non Options Exercises In Period Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsExercisesInPeriodExercisePrice
0.05
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
92490000 usd
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
2033
CY2022 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
27,861,000 will be limited to 80% of taxable income but will not expire
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
19423000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
23281000 usd
CY2022Q4 IMUN Deferred Tax Assets Temporary Difference
DeferredTaxAssetsTemporaryDifference
893000 usd
CY2021Q4 IMUN Deferred Tax Assets Temporary Difference
DeferredTaxAssetsTemporaryDifference
21000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
18530000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
23302000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
18530000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
23302000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.172 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.114 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.253 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
11.423 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.215 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-11.747 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.0 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.0 pure
CY2022Q4 us-gaap Share Price
SharePrice
0.05
CY2022 IMUN Cash Payment Description
CashPaymentDescription
In consideration for the license, the Company will provide (i) a non-refundable cash payment of $500,000 within ninety (90) days of September 30, 2022, (ii) a non-refundable cash payment of $500,000 at the earliest of either the National Agency for Food and Drug Administration and Control (“NAFDAC”) approval for JKB-122 in Africa for any indication, or the enrollment of the first patient in a Food and Drug Administration (“FDA”) trail for Crohn’s Disease, (iii) 250,000 shares of common stock of the Company within sixty (60) days of September 30, 2022, (iv) an annual payment of $100,000 each anniversary of the date of the agreement until the Company gains regulatory approval in Africa, (v) milestone payments (described below), and (vi) royalties on net sales. The 250,000 shares of common stock represent approximately 0.32% of the currently outstanding common stock of the Company.
CY2022 IMUN Description For Monthly Interest For Payment
DescriptionForMonthlyInterestForPayment
the payment amount will bear the lower of (i) 1.5% interest per month or (ii) the maximum rate allowed by law, to be compounded quarterly. The interest will accrue beginning on the first day after the payment is due
CY2022Q4 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
100000 usd
CY2022 us-gaap Debt Instrument Description
DebtInstrumentDescription
The third note is for the principal amount of $200,000. Each of the three notes: (a) matures on July 19, 2023, with the Company having the option to extend the maturity date by six months (b) carries a six percent (6.00%) per annum simple interest rate; (c) provides that, if converted by the holder in accordance with its terms, the Company shall issue a number of shares of common stock in the Company to the holder of the note equal to (i) the principal amount of the note divided by (ii) $0.05, subject to certain equitable adjustments; and (d) requires the note holder to notify the Company in writing by 11:59 p.m. on July 22, 2022, the expiration of the conversion provision in each note; of its intent to exercise its conversion right. If converted into shares of common stock, each of the three notes prohibits the note holder, without the prior written consent of the Company, from selling, pledging, or otherwise transferring such shares for one year from their date of issuance, except that up to 5% of the shares may be sold, pledged, or otherwise transferred during three of every four calendar quarters during the 18-month period following the issuance date of the converted Note
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
200000 usd
CY2022 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2023-07-19
CY2022Q4 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0600 pure
CY2022 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
200000 usd
CY2022 us-gaap Stock Issued During Period Shares Conversion Of Units
StockIssuedDuringPeriodSharesConversionOfUnits
2500000 shares
CY2022 IMUN Non Convertible Mistake
NonConvertibleMistake
100000 usd

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