2023 Q2 Form 10-Q Financial Statement

#000149315223017729 Filed on May 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $26.31K $23.12K $84.90K
YoY Change -32.11% -72.76% 303.13%
Cost Of Revenue $10.70K $8.466K $15.94K
YoY Change 22.85% -46.89% 43.86%
Gross Profit $15.61K $14.66K $68.96K
YoY Change -48.04% -78.75% 590.98%
Gross Profit Margin 59.33% 63.39% 81.22%
Selling, General & Admin $349.6K $391.8K $291.5K
YoY Change -31.12% 34.41% 16.04%
% of Gross Profit 2239.61% 2673.13% 422.71%
Research & Development $208.5K $52.73K $304.2K
YoY Change -65.12% -82.66% 1443.96%
% of Gross Profit 1336.02% 359.74% 441.07%
Depreciation & Amortization $76.92K $2.720K $6.850K
YoY Change -23.3% -60.29% 270.27%
% of Gross Profit 492.79% 18.56% 9.93%
Operating Expenses $558.1K $444.5K $595.7K
YoY Change -49.51% -25.37% 119.87%
Operating Profit -$542.5K -$429.9K -$526.7K
YoY Change -49.55% -18.38% 101.85%
Interest Expense $122.3K $121.8K -$74.23K
YoY Change -37.43% -264.1% -200.31%
% of Operating Profit
Other Income/Expense, Net -$19.95K -$148.0K -$74.22K
YoY Change -82.71% 99.42%
Pretax Income -$562.5K -$577.9K -$600.9K
YoY Change -52.76% -3.83% 221.49%
Income Tax $800.00
% Of Pretax Income
Net Earnings -$562.4K -$577.9K -$600.9K
YoY Change -52.77% -3.83% 221.49%
Net Earnings / Revenue -2137.75% -2499.16% -707.8%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 -$251.00
COMMON SHARES
Basic Shares Outstanding 3.022B shares 2.734B shares 2.394B shares
Diluted Shares Outstanding 2.976B shares 2.692B shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.1K $18.53K $165.7K
YoY Change -37.61% -88.82% 104.28%
Cash & Equivalents $123.1K $18.53K $165.7K
Short-Term Investments
Other Short-Term Assets $50.83K $128.5K $700.1K
YoY Change -90.61% -81.64% 288.44%
Inventory $31.39K $35.69K $39.43K
Prepaid Expenses $16.92K $31.73K
Receivables $17.58K $17.73K $36.33K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $222.9K $200.5K $941.6K
YoY Change -73.25% -78.71% 239.08%
LONG-TERM ASSETS
Property, Plant & Equipment $267.6K $270.4K $310.8K
YoY Change -4.99% -13.01% 6.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.859M $2.935M $97.82K
YoY Change -16.04% 2900.18% 11.13%
Total Long-Term Assets $3.265M $3.349M $3.840M
YoY Change -11.97% -12.77% 638.76%
TOTAL ASSETS
Total Short-Term Assets $222.9K $200.5K $941.6K
Total Long-Term Assets $3.265M $3.349M $3.840M
Total Assets $3.487M $3.550M $4.781M
YoY Change -23.21% -25.75% 499.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $362.6K $398.9K $372.5K
YoY Change 0.27% 7.11% 24.97%
Accrued Expenses $569.9K $544.9K $514.2K
YoY Change 10.65% 5.97% -13.38%
Deferred Revenue
YoY Change
Short-Term Debt $743.5K $1.056M $1.074M
YoY Change -30.12% -1.68% 1.87%
Long-Term Debt Due $4.640K $4.640K $4.640K
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $1.875M $2.255M $2.460M
YoY Change -18.99% -8.32% 7.68%
LONG-TERM LIABILITIES
Long-Term Debt $8.080K $9.300K $13.89K
YoY Change -36.78% -33.05%
Other Long-Term Liabilities $113.5K $120.1K $2.150K
YoY Change 5180.93% 5486.51% -92.3%
Total Long-Term Liabilities $121.6K $129.4K $16.04K
YoY Change 714.6% 706.8% -42.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.875M $2.255M $2.460M
Total Long-Term Liabilities $121.6K $129.4K $16.04K
Total Liabilities $1.996M $2.385M $2.476M
YoY Change -14.29% -3.69% 7.08%
SHAREHOLDERS EQUITY
Retained Earnings -$18.81M -$18.25M
YoY Change 19.17%
Common Stock $3.134M $2.749M
YoY Change 22.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.492M $1.165M $2.305M
YoY Change
Total Liabilities & Shareholders Equity $3.487M $3.550M $4.781M
YoY Change -23.21% -25.75% 499.58%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$562.4K -$577.9K -$600.9K
YoY Change -52.77% -3.83% 221.49%
Depreciation, Depletion And Amortization $76.92K $2.720K $6.850K
YoY Change -23.3% -60.29% 270.27%
Cash From Operating Activities -$337.1K -$201.1K -$214.9K
YoY Change 42.55% -6.42% 2.28%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$2.750K $1.950K $0.00
YoY Change -100.0%
Cash From Investing Activities -$2.750K $1.951K -$200.0K
YoY Change -100.98% -12.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 433.4K $199.6K 486.5K
YoY Change 61.2% -58.97% 82.39%
NET CHANGE
Cash From Operating Activities -337.1K -$201.1K -214.9K
Cash From Investing Activities -2.750K $1.951K -200.0K
Cash From Financing Activities 433.4K $199.6K 486.5K
Net Change In Cash 93.55K $491.00 71.65K
YoY Change 188.91% -99.31% -141.89%
FREE CASH FLOW
Cash From Operating Activities -$337.1K -$201.1K -$214.9K
Capital Expenditures $0.00 $0.00
Free Cash Flow -$337.1K -$201.1K -$214.9K
YoY Change 42.55% -6.42% -954.69%

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CY2022Q1 TSOI Increase Decrease In Account Payable Related Parties
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CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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44735 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
44243 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-10630 usd
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-6261 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-201078 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-214865 usd
CY2022Q1 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
200000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
1951 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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1951 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-200000 usd
CY2023Q1 us-gaap Repayments Of Related Party Debt
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8 usd
CY2022Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
2404 usd
CY2023Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
70750 usd
CY2022Q1 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
145000 usd
CY2023Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1210 usd
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1077 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
130086 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
345000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
199618 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
486519 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
491 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
71654 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29043 usd
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
104259 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29534 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
175913 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
663 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
710 usd
CY2023Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
8500 usd
CY2022Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
11250 usd
CY2023Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
69565 usd
CY2022Q1 us-gaap Debt Conversion Original Debt Amount1
DebtConversionOriginalDebtAmount1
145000 usd
CY2023Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
188459 usd
CY2022Q1 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
228365 usd
CY2023Q1 TSOI Common Stock Issued For Accrued Salaries Value
CommonStockIssuedForAccruedSalariesValue
20000 usd
CY2022Q1 TSOI Common Stock Issued For Accrued Salaries Value
CommonStockIssuedForAccruedSalariesValue
29999 usd
CY2023Q1 TSOI Accrued Interest Added To Principal
AccruedInterestAddedToPrincipal
6479 usd
CY2022Q1 TSOI Accrued Interest Added To Principal
AccruedInterestAddedToPrincipal
6478 usd
CY2023Q1 TSOI Common Stock Issued For License Value
CommonStockIssuedForLicenseValue
146244 usd
CY2022Q1 TSOI Common Stock Issued For License Value
CommonStockIssuedForLicenseValue
3107570 usd
CY2022Q1 us-gaap Stock Issued1
StockIssued1
100000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
146244 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
18531 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
165690 usd
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
11003 usd
CY2022Q1 us-gaap Restricted Cash
RestrictedCash
10223 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29534 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175913 usd
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_802_eus-gaap--NatureOfOperations_z5FyWBYDQWhc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Note 1 – <span id="xdx_826_zR4z2Qd0Wys3">Organization and Business Description</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Therapeutic Solutions International, Inc. (“TSI” or the “Company”) was organized <span id="xdx_909_edei--EntityIncorporationDateOfIncorporation_c20230101__20230331_zNFymGb3v8Kf" title="Entity incorporation date">August 6, 2007</span>, under the name Friendly Auto Dealers, Inc., under the laws of the State of Nevada. In the first quarter of 2011 the Company changed its name from Friendly Auto Dealers, Inc. to Therapeutic Solutions International, Inc., and acquired Splint Decisions, Inc., a California corporation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Business Description</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Currently the Company is focused on immune modulation for the treatment of several specific diseases. Immune modulation refers to the ability to upregulate (make more active) or downregulate (make less active) one’s immune system.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Activating one’s immune system is now an accepted method to treat certain cancers, reduce recovery time from viral or bacterial infections and to prevent illness. Additionally, inhibiting one’s immune system is vital for reducing inflammation, autoimmune disorders and allergic reactions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">TSOI is developing a range of immune-modulatory agents to target certain cancers, schizophrenia, suicidal ideation, traumatic brain injury, and for daily health.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Nutraceutical Division</b> – TSOI has been producing high quality nutraceuticals. Its current flagship product, QuadraMune®, is a multi-patented synergistic blend of pterostilbene, sulforaphane, epigallocatechingallate, and thymoquinone. QuadraMune has been shown to increase Natural Killer Cell activity and healthy Cytokine production. Our synergistic blend of ingredients helps the immune system fight off common and complex ailments and promote healthy T Cell activity. Recently the Company was approved to sell certain nutraceuticals on the Amazon Platform.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>Cellular Division</b> – TSOI obtained exclusive rights to a patented adult stem cell for development of therapeutics in the area of chronic traumatic encephalopathy (CTE) and traumatic brain injury (TBI) and Lung Pathology (LP).</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The stem cell licensed, termed “JadiCell” is unique in that it possesses features of mesenchymal stem cells, however, outperforms these cells in terms of a) enhanced growth factor production; b) augmented ability to secrete exosomes; and c) superior angiogenic and neurogenic ability.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Chronic Traumatic Encephalopathy (CTE) is caused by repetitive concussive/sub-concussive hits to the head sustained over a period of years and is often found in football players. The condition is characterized by memory loss, impulsive/erratic behavior, impaired judgment, aggression, depression, and dementia. In many patients with CTE, it is anatomically characterized by brain atrophy, reduced mass of frontal and temporal cortices, and medial temporal lobe. TSOI has previously filed several patents in the area of CTE based on modulating the brain microenvironment to enhance receptivity of regenerative cells such as stem cells. On March 4, 2021, the Company received an IND Serial # 27377 for a clinical trial of 10 patients with CTE.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">On August 4th, 2021, the Company announced clearance from the Food and Drug Administration (FDA) to initiate a Phase III pivotal trial for registration of the Company’s JadiCell™ universal donor stem cell as a treatment for COVID-19 associated lung failure under IND # 19757. In previous studies the Company has demonstrated the superior activity of JadiCell to other types of stem cells including bone marrow, adipose, cord blood, and placenta. Furthermore, <span id="xdx_90A_eus-gaap--UnusualOrInfrequentItemNatureOfEventOrTransaction_c20210803__20210804_zXFNHNc4Bj1j" title="Unusual or infrequent item, description">the JadiCell was shown to be 100% effective in saving the lives of COVID-19 patients under the age of 85 in a double-blind placebo controlled clinical trial with patients in the ICU on a ventilator. In patients over the age of 85 the survival rate was 91%.</span> The Company also recently announced the launching of Phase III for IND # 19757 with Biorasi LLC, a global, full-service CRO, who will run the clinical trial.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">In addition, the Company has filed data with the FDA, as part of IND #17448, which demonstrated that treatment of cancer patients with StemVacs™ resulted in enhanced activity of a type of immunological cell called “natural killer” cells, otherwise known as “NK cells.”</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The Company has also developed an allogenic version of StemVacs and has filed patents to cover activating universal donor immune system cells called dendritic cells in a manner so that upon injection they reprogram the body’s NK cells.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Most recently the Company announced filing of a patent application covering the use stem cell derived exosomes for treatment of aortic aneurysms.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>THERAPEUTIC SOLUTIONS INTERNATIONAL, INC.</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b>March 31, 2023</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Management does not expect existing cash as of March 31, 2023, to be sufficient to fund the Company’s operations for at least twelve months from the issuance date of these financial statements. These financial statements have been prepared on a going concern basis which assumed the Company will continue to realize its assets and discharge its liabilities in the normal course of business. As of March 31, 2023, the Company has incurred losses totaling $<span id="xdx_90F_eus-gaap--ProfitLoss_pn5n6_c20230101__20230331_zuCI52a0aTmg" title="Net loss">18.2</span> million since inception, has not yet generated material revenue from operations, and will require additional funds to maintain its operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern within one year after the consolidated financial statements are issued. The Company’s ability to continue as a going concern is dependent upon its ability to generate future profitable operations and obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they become due. The Company intends to finance operating costs over the next twelve months through its existing financial resources and we may also raise additional capital through equity offerings, debt financings, collaborations and/or licensing arrangements. If adequate funds are not available on acceptable terms, we may be required to delay, reduce the scope of, or curtail, our operations. The accompanying consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2007-08-06
CY2021Q3 us-gaap Unusual Or Infrequent Item Nature Of Event Or Transaction
UnusualOrInfrequentItemNatureOfEventOrTransaction
the JadiCell was shown to be 100% effective in saving the lives of COVID-19 patients under the age of 85 in a double-blind placebo controlled clinical trial with patients in the ICU on a ventilator. In patients over the age of 85 the survival rate was 91%.
CY2023Q1 us-gaap Profit Loss
ProfitLoss
18200000 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Period Increase Decrease
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPeriodIncreaseDecrease
44336 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
227077 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5693 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
258162 usd
CY2023Q1 TSOI Wholesale Purchase Price And Payments Description
WholesalePurchasePriceAndPaymentsDescription
Seller agrees to sell the Goods to Buyer for Fifty Percent (50%) off Sellers listed retail price (see Exhibit A). Seller will provide an invoice to Buyer at the time of delivery. All invoices must be paid, in full, within thirty (30) days. Any balances not paid within thirty (30) days will be subject to a five percent (5%) late payment penalty. In the event Buyer exceeds the aggregate of $500,000 worth of aforementioned products having been purchased, delivered, and paid for, Buyer will be entitled to an additional Five Percent (5%) discount up to the aggregate of $750,000.00. In the event Buyer exceeds the aggregate of $750,000 worth of aforementioned products having been purchased, delivered, and paid for, Buyer will be entitled to an additional Five Percent (5%) discount up to the aggregate of $1,500,000.00. All future sales after initial $1,500,000 in aggregate purchases will be sold at 60% off retail.
CY2023Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
0 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
0 usd
CY2023Q1 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
227077 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
202144 usd
CY2022Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
202144 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
77856 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Net
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersNet
-97259 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zDOEw7EKuVZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"><b><span id="xdx_863_z5jo08luH5U7">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">Estimates were made relating to valuation allowances, impairment of assets, share-based compensation expense and accruals. Actual results could differ materially from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
372997016 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
134887029 shares
CY2023Q1 us-gaap Depreciation
Depreciation
2720 usd
CY2022Q1 us-gaap Depreciation
Depreciation
1163 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
74194 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
52727 usd
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
304159 usd
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
856 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1141 usd
CY2023Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
31732 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
62661 usd
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
117506 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
212352 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2928767 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
144226 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
144226 usd
CY2023Q1 us-gaap Interest Bearing Domestic Deposit Certificates Of Deposits
InterestBearingDomesticDepositCertificatesOfDeposits
10000 usd
CY2023Q1 us-gaap Weighted Average Rate Domestic Deposit Certificates Of Deposit
WeightedAverageRateDomesticDepositCertificatesOfDeposit
0.006 pure
CY2023Q1 us-gaap Restricted Cash Current Nature Of Restriction Description
RestrictedCashCurrentNatureOfRestrictionDescription
This certificate matures on June 17, 2023, and is used as collateral for a Company credit card, pursuant to a security agreement dated June 20, 2011.
CY2023Q1 TSOI Prepaid Consulting Current
PrepaidConsultingCurrent
84918 usd
CY2022Q4 TSOI Prepaid Consulting Current
PrepaidConsultingCurrent
148550 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
301359 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
301359 usd
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
31001 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28281 usd
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
270358 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
273078 usd
CY2023Q1 us-gaap Depreciation
Depreciation
2720 usd
CY2022Q1 us-gaap Depreciation
Depreciation
1163 usd
CY2023Q1 TSOI Prepaid Consulting Noncurrent
PrepaidConsultingNoncurrent
1884 usd
CY2022Q4 TSOI Prepaid Consulting Noncurrent
PrepaidConsultingNoncurrent
7537 usd
CY2023Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
4123 usd
CY2022Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
4123 usd
CY2023Q1 TSOI Licenses Noncurrent
LicensesNoncurrent
2928767 usd
CY2022Q4 TSOI Licenses Noncurrent
LicensesNoncurrent
3002960 usd
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2934774 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3014620 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3261122 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3261122 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
332355 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3002960 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
74194 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5693 usd
CY2023Q1 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
4505000000 shares
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
4500000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
2748956631 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
2748956631 shares
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2 shares
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
2 shares
CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
2 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Area Of Land
AreaOfLand
1700 sqft
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2023Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2028-04-30
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
6261 usd
CY2022Q1 us-gaap Payments For Rent
PaymentsForRent
6261 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.05 pure

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0001493152-23-017729.txt Edgar Link pending
0001493152-23-017729-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
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R1.htm Edgar Link pending
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tsoi-20230331.xsd Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
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tsoi-20230331_lab.xml Edgar Link unprocessable
tsoi-20230331_pre.xml Edgar Link unprocessable
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