Quarterly Report (10-q)
April 21 2022 - 08:36AM
Edgar (US Regulatory)
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SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For
the quarterly period ended March
31, 2022
☐ TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
For
the transition period from
Commission
File No. 333-191725
REGEN BIOPHARMA,
INC.
(Exact
name of small business issuer as specified in its
charter)
Nevada |
45-5192997 |
(State
or other jurisdiction of incorporation or organization) |
(I.R.S.
Employer Identification No.) |
4700 Spring
Street, St
304, La Mesa, California 91942
(Address
of Principal Executive Offices)
619 722-5505
(Issuer’s
telephone number)
None
(Former
name, address and fiscal year, if changed since last
report)
Check
whether the issuer (1) has filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the preceding 12
months (or for such shorter period that the issuer was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes
☒ No
Indicate
by check mark whether the registrant has submitted electronically
and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405
of Regulation S-T (§ 232.405 of this chapter) during the preceding
12 months (or for such shorter period that the registrant was
required to submit and post such files).
Yes ☐
No ☒
Indicate
by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, or a smaller
reporting company. See the definitions of “large accelerated
filer,” “accelerated filer,” “non-accelerated filer,” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act.
☐ Large
accelerated filer |
☐ Accelerated
filer |
☐ Non-accelerated
filer |
☒ Smaller reporting
company |
|
☐ Emerging
Growth Company |
APPLICABLE
ONLY TO CORPORATE ISSUERS:
As of
April 7, 2022 Regen Biopharma, Inc. had 4,736,002,832
common shares outstanding.
As of
April 7,2022 Regen Biopharma, Inc. had 439,293,406 shares of Series
A Preferred Stock outstanding.
As of
April 7, 2022 Regen Biopharma, Inc. had 50,000 shares of Series AA
Preferred Stock outstanding.
As of
April 7, 2022 Regen Biopharma, Inc. had 44,000,000 shares of Series
M Preferred Stock outstanding.
As of
April 7, 2022 Regen Biopharma, Inc. had 10,000 shares of Series NC
Preferred Stock outstanding
Indicate
by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Exchange Act):
Yes
☐ No ☒
PART
I - FINANCIAL INFORMATION
Item
1. - Financial Statements
|
|
|
|
|
|
|
|
|
REGEN
BIOPHARMA , INC. |
|
|
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of
March 31, 2022 |
|
As of
September 30, 2021 |
|
|
(Unaudited) |
|
|
ASSETS |
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
Cash |
|
$ |
234,674 |
|
|
$ |
727,162 |
|
Accounts
Receivable, Related Party |
|
|
268,042 |
|
|
|
213,192 |
|
Note
Receivable, Related Party |
|
|
5,396 |
|
|
|
5,396 |
|
Accrued
Interest Receivable |
|
|
496 |
|
|
|
230 |
|
Prepaid
Expenses |
|
|
34,582 |
|
|
|
48,144 |
|
Total
Current Assets |
|
|
543,190 |
|
|
|
994,124 |
|
OTHER
ASSETS |
|
|
|
|
|
|
|
|
Investment
Securities |
|
|
67,710 |
|
|
|
198,006 |
|
Investment
Securities, Related Party |
|
|
19,969 |
|
|
|
19,969 |
|
Total
Other Assets |
|
|
87,679 |
|
|
|
217,975 |
|
TOTAL
ASSETS |
|
$ |
630,869 |
|
|
$ |
1,212,099 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES
AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
Current
Liabilities: |
|
|
|
|
|
|
|
|
Accounts
payable |
|
|
41,629 |
|
|
|
91,498 |
|
Notes
Payable |
|
|
227 |
|
|
|
1,429,179 |
|
Accrued
payroll taxes |
|
|
4,241 |
|
|
|
4,241 |
|
Accrued
Interest |
|
|
664,787 |
|
|
|
954,861 |
|
Accrued
Rent |
|
|
— |
|
|
|
0 |
|
Accrued
Payroll |
|
|
1,266,679 |
|
|
|
1,266,679 |
|
Other
Accrued Expenses |
|
|
41,423 |
|
|
|
41,423 |
|
Bank
Overdraft |
|
|
1,000 |
|
|
|
1,000 |
|
Due
to Investor |
|
|
20,000 |
|
|
|
20,000 |
|
Unearned
Income |
|
|
1,781,222 |
|
|
|
1,843,806 |
|
Derivative
Liability |
|
|
70,561,820 |
|
|
|
6,892,477 |
|
Convertible
Notes Payable Less unamortized discount |
|
|
2,987,270 |
|
|
|
2,131,311 |
|
Convertible
Notes Payable, Related Parties Less unamortized
discount |
|
|
10,000 |
|
|
|
21,500 |
|
Total
Current Liabilities |
|
|
77,380,299 |
|
|
|
14,697,976 |
|
Long
Term Liabilities: |
|
|
|
|
|
|
|
|
Convertible
Notes Payable, Related Parties Less unamortized
discount |
|
|
— |
|
|
|
0 |
|
Total
Long Term Liabilities |
|
|
|
|
|
|
|
|
Total
Liabilities |
|
|
77,380,299 |
|
|
|
14,697,976 |
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS'
EQUITY (DEFICIT) |
|
|
|
|
|
|
|
|
Common
Stock ($.0001
par value) 500,000,000 shares authorized; 5,800,000,000
authorized and 4,580,002,832
issued and outstanding as of March 31,2022 and 4,800,000,000
authorized and 4,350,554,514
shares issued and outstanding as of September 30 ,2021. |
|
|
457,999 |
|
|
|
435,054 |
|
Preferred
Stock, 0.0001 par value,
800,000,000
authorized as of |
|
|
— |
|
|
|
— |
|
March 31,2022 and
September 30,2021 respectively |
|
|
— |
|
|
|
— |
|
Series
A Preferred 300,000,000
authorized as of September 30,2021 and 540,000,000
authorized as of March 31, 2022; 439,293,406 and
431,998,817
outstanding as of March 31,2022 and September 30, 2021
respectively |
|
|
43,929 |
|
|
|
43,200 |
|
Series
AA Preferred $0.0001 par value
600,000
authorized and 50,000 and
50,000 outstanding
as of March 31, 2022 and September 30,2021 respectively |
|
|
5 |
|
|
|
5 |
|
Series
M Preferred $0.0001 par value
300,000,000
authorized and 44,000,000
outstanding as of September 30,2021 and 60,000,000
authorized and 44,000,000
outstanding as of March 31, 2022 |
|
|
4,400 |
|
|
|
4,400 |
|
Series
NC Preferred $0.0001 par value
20,000 authorized
and 10,000 outstanding
as of September 30, 2021 and March 31,2022 respectively |
|
|
1 |
|
|
|
1 |
|
Additional
Paid in capital |
|
|
9,793,419 |
|
|
|
8,644,037 |
|
Contributed
Capital |
|
|
736,326 |
|
|
|
736,326 |
|
Retained
Earnings (Deficit) |
|
|
(87,785,509 |
) |
|
|
(23,348,900 |
) |
Total
Stockholders' Equity (Deficit) |
|
|
(76,749,430 |
) |
|
|
(13,485,877 |
) |
TOTAL
LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) |
|
$ |
630,869 |
|
|
$ |
1,212,099 |
|
|
|
|
|
|
|
|
|
|
The
Accompanying Notes are an Integral Part of These Financial
Statements |