2024 Q3 Form 10-Q Financial Statement
#000147237524000074 Filed on August 07, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
Revenue | |||
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $160.2K | ||
YoY Change | |||
% of Gross Profit | |||
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $1.144K | $831.00 | |
YoY Change | 37.67% | -22.41% | |
% of Gross Profit | |||
Operating Expenses | $258.4K | $254.3K | $160.2K |
YoY Change | -90.73% | 58.75% | 826.66% |
Operating Profit | -$258.4K | -$254.3K | -$160.2K |
YoY Change | -90.73% | 58.75% | 826.66% |
Interest Expense | $266.2K | $22.33K | $18.51K |
YoY Change | 1244.16% | 20.68% | 19.26% |
% of Operating Profit | |||
Other Income/Expense, Net | -$271.2K | -$18.28K | -$25.40K |
YoY Change | 1646.67% | -28.03% | 329.14% |
Pretax Income | |||
YoY Change | |||
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$529.6K | -$272.6K | -$185.6K |
YoY Change | -81.1% | 46.87% | 699.75% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | |||
Diluted Earnings Per Share | |||
COMMON SHARES | |||
Basic Shares Outstanding | 278.3M shares | 278.2M shares | 277.1M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | |||
YoY Change | |||
Cash & Equivalents | $294.00 | $67.75K | |
Short-Term Investments | |||
Other Short-Term Assets | |||
YoY Change | |||
Inventory | |||
Prepaid Expenses | $1.541K | $2.357K | $23.30K |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $1.835K | $2.357K | $91.05K |
YoY Change | -90.51% | -97.41% | 2082.5% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $5.232K | ||
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | |||
YoY Change | |||
Total Long-Term Assets | $631.1K | $726.7K | $948.6K |
YoY Change | -30.9% | -23.38% | 14826.04% |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.835K | $2.357K | $91.05K |
Total Long-Term Assets | $631.1K | $726.7K | $948.6K |
Total Assets | $633.0K | $729.1K | $1.040M |
YoY Change | -32.13% | -29.87% | 9775.6% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $154.6K | $160.7K | $96.50K |
YoY Change | 72.1% | 66.52% | 67.86% |
Accrued Expenses | $126.3K | $107.0K | $76.97K |
YoY Change | 53.99% | 38.97% | -13.35% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | |||
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $4.851M | $4.414M | $801.7K |
YoY Change | 45.33% | 450.5% | 7.34% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | |||
YoY Change | |||
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.851M | $4.414M | $801.7K |
Total Long-Term Liabilities | $0.00 | $0.00 | |
Total Liabilities | $5.390M | $5.042M | $2.124M |
YoY Change | 18.05% | 137.45% | 108.33% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$6.418M | -$5.888M | -$2.258M |
YoY Change | 26.86% | 160.83% | 15.31% |
Common Stock | $278.4K | $278.3K | $277.3K |
YoY Change | 0.19% | 0.33% | 0.08% |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$4.757M | -$4.313M | -$1.084M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $633.0K | $729.1K | $1.040M |
YoY Change | -32.13% | -29.87% | 9775.6% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$529.6K | -$272.6K | -$185.6K |
YoY Change | -81.1% | 46.87% | 699.75% |
Depreciation, Depletion And Amortization | $1.144K | $831.00 | |
YoY Change | 37.67% | -22.41% | |
Cash From Operating Activities | -$55.33K | -$121.2K | |
YoY Change | -54.36% | 245.72% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$3.629K | ||
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 | $54.96K | $191.5K | |
YoY Change | -71.3% | 461.54% | |
NET CHANGE | |||
Cash From Operating Activities | -$55.33K | -$121.2K | |
Cash From Investing Activities | -$3.629K | ||
Cash From Financing Activities | $54.96K | $191.5K | |
Net Change In Cash | -$372.00 | $66.62K | |
YoY Change | -100.56% | -6982.13% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$55.33K | -$121.2K | |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2024Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
usd | |
CY2023Q2 | RGPX |
Increase Decrease In Accrued Compensation
IncreaseDecreaseInAccruedCompensation
|
usd | |
CY2024Q2 | us-gaap |
Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
|
usd | |
CY2024Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
usd | |
CY2024Q2 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
usd | |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
usd | |
CY2024Q2 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2023Q2 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
usd | |
CY2024Q2 | us-gaap |
Interest Paid
InterestPaid
|
usd | |
CY2023Q2 | us-gaap |
Interest Paid
InterestPaid
|
usd | |
CY2023Q2 | RGPX |
Accrued Interest Converted Into Note Payable To Related Parties
AccruedInterestConvertedIntoNotePayableToRelatedParties
|
usd | |
CY2024Q2 | RGPX |
Accrued Interest Converted Into Note Payable
AccruedInterestConvertedIntoNotePayable
|
usd | |
CY2024Q2 | RGPX |
Operating Leases Rou Asset And Liabilities
OperatingLeasesRouAssetAndLiabilities
|
usd | |
CY2024Q2 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
5667 | usd |
CY2024Q1 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
6097 | usd |
CY2024Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
254280 | usd |
CY2023Q2 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
160174 | usd |
CY2024Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
254280 | usd |
CY2023Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
160174 | usd |
CY2024Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-254280 | usd |
CY2023Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-160174 | usd |
CY2024Q2 | us-gaap |
Interest Expense
InterestExpense
|
22333 | usd |
CY2023Q2 | us-gaap |
Interest Expense
InterestExpense
|
18506 | usd |
CY2024Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
4053 | usd |
CY2023Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-6895 | usd |
CY2024Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-18280 | usd |
CY2023Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-25401 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-272560 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-185575 | usd |
CY2024Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.00 | |
CY2023Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.00 | |
CY2024Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
278226240 | shares |
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
277156286 | shares |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-272560 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-185575 | usd |
CY2024Q2 | us-gaap |
Depreciation
Depreciation
|
1144 | usd |
CY2023Q2 | us-gaap |
Depreciation
Depreciation
|
831 | usd |
CY2024Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
4053 | usd |
CY2023Q2 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-6895 | usd |
CY2024Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
20997 | usd |
CY2023Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
34554 | usd |
CY2024Q2 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
29052 | usd |
CY2023Q2 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
380 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
183 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-23300 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
63300 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
93792 | usd |
CY2024Q2 | RGPX |
Increase Decrease In Accrued Compensation
IncreaseDecreaseInAccruedCompensation
|
96885 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
9720 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
-48814 | usd |
CY2024Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-55332 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-121237 | usd |
CY2023Q2 | us-gaap |
Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
|
3629 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-3629 | usd |
CY2024Q2 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
1600 | usd |
CY2023Q2 | us-gaap |
Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
|
1485 | usd |
CY2023Q2 | us-gaap |
Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
|
190000 | usd |
CY2024Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
54960 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
191485 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-372 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
66619 | usd |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
372 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1135 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
67754 | usd |
CY2024Q2 | RGPX |
Accrued Interest Converted Into Note Payable To Shareholder
AccruedInterestConvertedIntoNotePayableToShareholder
|
14264 | usd |
CY2023Q2 | RGPX |
Accrued Interest Converted Into Note Payable To Shareholder
AccruedInterestConvertedIntoNotePayableToShareholder
|
20451 | usd |
CY2024Q2 | RGPX |
Accrued Interest Converted Into Note Payable To Related Parties
AccruedInterestConvertedIntoNotePayableToRelatedParties
|
4866 | usd |
CY2023Q2 | RGPX |
Accrued Interest Converted Into Note Payable
AccruedInterestConvertedIntoNotePayable
|
52545 | usd |
CY2023Q2 | RGPX |
Operating Leases Rou Asset And Liabilities
OperatingLeasesRouAssetAndLiabilities
|
953535 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1122947 | usd |
CY2023Q2 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
190000 | shares |
CY2023Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
34554 | usd |
CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-185575 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-1083968 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4061826 | usd |
CY2024Q2 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
20997 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-272560 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4313389 | usd |
CY2024Q2 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin: 0px; font-size: 10pt"><b>NOTE 1 – NATURE OF OPERATIONS</b></p> <p style="margin: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">Regenerex Pharma, Inc., (the “Company” or “Regenerex”), was incorporated in the State of Nevada, United States of America, on November 18, 2005.</p> <p style="margin: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">On November 15, 2021, the Company entered into an Asset Purchase Agreement in which the Company purchased certain intellectual property in exchange for 150,000,000 shares of the Company’s common stock and up to $10,000,000 in contingent consideration to be paid at the rate of 15% of all gross revenues received from sales or investment money into the Company, payable on the 15<sup>th</sup> of the following month, for a period of 60 months. On August 17, 2023, the Company entered into an Agreement to Purchase Technology Platforms in which the Company purchased certain intellectual property in exchange for an interest-free two million four hundred thousand dollars ($2,400,000) note payable that is due August 17, 2024. The note payable is due within twelve (12) months of the date of the agreement. If the Company has not raised a minimum of ten million dollars ($10,000,000) in sales within twelve (12) months, or a minimum of ten million dollars ($10,000,000) in investment, the seller will extend the payments for a further period of twelve (12) months for a 10% payment of the outstanding balance.</p> <p style="margin: 0px; text-align: justify; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">The Company received all rights and title to proprietary wound healing technologies platforms and formulas involving the application of wound care protocols to treat all wounds, such as diabetic ulcers, pressure ulcers, burns and surgical wounds. These unique products strategically position the Company to enter the wound treatment market in the U.S.<span style="color: red"></span></p> <p style="margin: 0px; text-align: justify; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt"><i>Risks and Uncertainties</i></p> <p style="margin: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">Our business and our forward-looking statements involve substantial known and unknown risks and uncertainties, including the risks and uncertainties inherent in our statements regarding the impacts of COVID-19, or other future pandemics on our business, results of operations, financial position, and cash flows.</p> <p style="margin: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">The Company has a lack of revenue history and has had a limited history of operations. No revenue has historically been derived from the assets purchased. Regenerex can give no assurance of success or profitability to the Company’s investors.</p> <p style="margin: 0px; text-align: justify; font-size: 10pt">The wound care healing space is well suited for Home Care service providers that are funded by the US Government. Strategic planning and development will be performed internally by the Company.<i></i></p> <p style="margin: 0px; text-align: justify; font-size: 10pt"> </p> | |
CY2024Q2 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2005-11-18 | |
CY2021Q4 | us-gaap |
Asset Acquisition Contingent Consideration Liability
AssetAcquisitionContingentConsiderationLiability
|
10000000 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-4313389 | usd |
CY2024Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
2734250 | shares |
CY2023Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1115000 | shares |
CY2024Q2 | us-gaap |
Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
|
P3Y | |
CY2024Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
714 | usd |
CY2023Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
715 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Preproduction Design And Development Costs
PropertyPlantAndEquipmentPreproductionDesignAndDevelopmentCosts
|
<p style="margin: 0px; text-align: justify; font-size: 10pt"><i>Furniture and Computer Equipment</i></p> <p style="margin: 0px; font-size: 10pt"> </p> <p style="margin: 0px; text-align: justify; font-size: 10pt">Furniture and computer equipment are stated at cost, less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful life of three (3) to five (5) years. Depreciation expense for the three months ended June 30, 2024 and 2023 was $430 and $116. Significant betterments are capitalized while purchases under $500 are expensed as incurred.</p> <p style="margin: 0px; font-size: 10pt"> </p> | |
CY2024Q2 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
430 | usd |
CY2023Q2 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
116 | usd |
CY2024Q2 | us-gaap |
Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
|
0.10 | pure |
CY2024Q2 | us-gaap |
Related Party Transaction Rate
RelatedPartyTransactionRate
|
0.10 | pure |
CY2024Q2 | RGPX |
Related Party Advances
RelatedPartyAdvances
|
5290 | usd |
CY2024Q1 | RGPX |
Related Party Advances
RelatedPartyAdvances
|
3690 | usd |
CY2024Q2 | RGPX |
Notes Payable Related Parties
NotesPayableRelatedParties
|
168726 | usd |
CY2024Q1 | RGPX |
Notes Payable To Related Parties Net Of Current Portion
NotesPayableToRelatedPartiesNetOfCurrentPortion
|
110500 | usd |
CY2024Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
3169 | usd |
CY2023Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
981 | usd |
CY2021Q4 | us-gaap |
Business Combination Contingent Consideration Arrangements Description
BusinessCombinationContingentConsiderationArrangementsDescription
|
up to $10,000,000 in contingent consideration to be paid at the rate of 15% of all gross revenues received from sales or investment money into the Company, payable on the 15th of the following month, for a period of 60 months. | |
CY2021Q4 | us-gaap |
Asset Acquisition Contingent Consideration Liability
AssetAcquisitionContingentConsiderationLiability
|
10000000 | usd |
CY2024Q2 | us-gaap |
Lessee Operating Lease Description
LesseeOperatingLeaseDescription
|
On June 10, 2023, the Company entered into a plant facility lease agreement with a related party commencing June 9, 2023 which expires on June 30, 2028. Under this agreement, the monthly rental payments are $18,000 throughout the term of the lease excepting the month of June 2023 the rent is $7,920, The Company is working to have the premise certified by the FDA and will pay all related costs. Until the certification is complete, the monthly rent is reduced by forty (40%) percent to $10,800. Under this agreement, the Company is also leasing the equipment in the plant facility through five (5) annual rent payments of $10,000, which are due on the 15th day of each June from June 2023 to June 2027. The lease payment due June 15, 2024 is extended to September 15, 2024 with an extension fee of five hundred ($500) due August 5, 2024. | |
CY2024Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
675000000 | shares |
CY2024Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2024Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
2734250 | shares |