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United States
SECURITIES
AND EXCHANGE COMMISSION
FORM
S-1
REGISTRATION
STATEMENT
AMENDMENT
TWO (2)
UNDER
THE SECURITIES ACT OF 1933
Therapeutic Solutions International, Inc.
(Exact
name of Registrant as Specified in Its Charter)
Nevada |
|
2833 |
|
45-1226465 |
(State
or other jurisdiction of
incorporation or organization) |
|
(Primary
Standard Industrial
Classification Code Number) |
|
(I.R.S.
Employer
Identification No.) |
701 Wild Rose Lane
Elk City,
Idaho
83525
760-295-7208
(Address,
including zip code, and telephone number, including area code, of
registrant’s principal executive offices)
EastBiz.com,
Inc.
5348
Vegas Dr.
Las
Vegas, NV 89108
Phone:
(702) 871-8678
Email:
info@incparadise.com
(Name,
address, including zip code, and telephone number including area
code, of agent for service)
Copies
to:
H.D.
Kelso & Associates
Hugh D. Kelso III, Esq, Managing Attorney
8799 Balboa Avenue, Suite 155 San Diego, CA 92123
Ph: 619-840-5056
Email:
hdklawfirm@yahoo.com
Approximate
date of commencement of proposed sale to the public: As soon as
practicable after the effective date of this registration
statement.
If
any of the securities being registered on this form are to be
offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933, check the following box.
☒
If
this Form is filed to register additional securities for an
offering pursuant to Rule 462(b) under the Securities Act, please
check the following box and list the Securities Act registration
statement number of the earlier effective registration statement
for the same offering. ☐
If
this Form is a post-effective amendment filed pursuant to Rule
462(c) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier
effective registration statement for the same offering.
☐
If
this Form is a post-effective amendment filed pursuant to Rule
462(d) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier
effective registration statement for the same offering.
☐
Indicate
by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of
“large accelerated filer,” “accelerated filer,” “smaller reporting
company” and “emerging growth company” in Rule 12b-2 of the
Exchange Act.
Large
accelerated filer |
|
☐ |
|
Accelerated
filer |
|
☐ |
Non-accelerated filer |
|
☒ |
|
Smaller
reporting company |
|
☒ |
|
|
|
|
Emerging
growth company |
|
☐ |
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
THE
REGISTRANT HEREBY AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE
OR DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE
REGISTRANT SHALL FILE A FURTHER AMENDMENT WHICH SPECIFICALLY STATES
THAT THIS REGISTRATION STATEMENT SHALL THEREAFTER BECOME EFFECTIVE
IN ACCORDANCE WITH SECTION 8(A) OF THE SECURITIES ACT OF 1933 OR
UNTIL THE REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH
DATE AS THE COMMISSION, ACTING PURSUANT TO SECTION 8(A), MAY
DETERMINE.
PROSPECUS
THE INFORMATION IN THIS PRELIMINARY
PROSPECTUS MAY NOT BE COMPLETE AND MAY BE CHANGED. WE AND THE
SELLING STOCKHOLDERS MAY NOT SELL THESE SECURITIES UNTIL THE
REGISTRATION STATEMENT FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER TO SELL
THESE SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY THESE
SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT
PERMITTED.
SUBJECT TO COMPLETION, DATED JANUARY 17, 2023
PRELIMINARY PROSPECTUS
THERAPEUTIC
SOLUTIONS INTERNATIONAL, Inc.
Up
to 555,000,000 Shares
of Common Stock
This
prospectus relates to the sale by the selling shareholder named in
this prospectus of Therapeutic Solutions International, Inc. (the
“Company” and/or “TSOI”) of up to 555,000,000 shares of common
stock, par value $0.001 per share. We will not receive proceeds
from the sale of the shares by the selling Shareholder. However, we
may receive aggregate gross proceeds of up to $10.0 million from
the sale of our common stock to the selling shareholder, pursuant
to a securities Purchase Agreement, entered into with GHS
Investments, LLC (“GHS”) (the “GHS Purchase Agreement”) on
September 19, 2022, a copy being attached hereto as Exhibit 1.1.
For a full discussion of the terms, and conditions of the purchase
of the securities and more information about how the selling
stockholder may sell its Purchase Shares see the “Description of
the Securities Purchase Agreement,” beginning on page 5, and the
“Plan of Distribution,” beginning on page 50 of this
Prospectus.
The GHS Purchase Agreement provides that, upon the terms and
subject to the conditions and limitations set forth therein, the
Company may sell to GHS, in the Company’s discretion, up to
$10,000,000 of shares (“Purchase Shares”) of the Company’s common
stock. The Purchase Agreement permits TSOI to issue Purchase
Notices to GHS for up to Ten Million Dollars ($10,000,000) in
shares of our common stock through the earlier of 24 months from
the date of the Purchase Agreement or until $10,000,000 of such
shares have been subject of a Purchase Notice.
The selling stockholder will sell its Purchase Shares at prevailing
market prices or in privately negotiated transactions. We provide
more information about how the selling stockholder may sell its
Purchase Shares in the section titled “Plan of Distribution”
beginning on page 50.
GHS is an underwriter within the meaning of the Securities Act of
1933, as amended, or the Securities Act, and any broker-dealers or
agents that are involved in selling the shares may be deemed to be
“underwriters” within the meaning of the Securities Act in
connection with such sales. In such event, any commissions received
by such broker-dealers or agents and any profit on the resale of
the shares purchased by them may be deemed to be underwriting
commissions or discounts under the Securities Act. We will bear all
costs, expenses and fees in connection with the registration of the
common stock. The selling stockholder will bear all commissions and
discounts, if any, attributable to its sales of our common
stock.
We are not selling any shares of Common Stock under this prospectus
and will not receive any of the proceeds from the resale of the
Common Stock by GHS (referred to sometimes herein as the “Selling
Shareholder”). We will pay for expenses of this offering, except
that the Selling Shareholder will pay any broker discounts or
commissions or equivalent expenses and expenses of its legal
counsel applicable to the sale of its shares. There are no
arrangements to place the funds received in an escrow, trust, or
similar arrangement and the funds will be available to us following
deposit into our bank account.
The Common Stock is quoted on the OTC Markets, under the symbol
“TSOI.” On January 13, 2023, the last reported sale price of the
Common Stock on the OTC Markets was $0.0069 per share.
Investing
in our securities involves certain risks. See “Risk Factors”
beginning on page 20 and the risk factors in our most recent Annual
Report on Form 10-K, as well as in any other recently filed
quarterly or current reports and, if any, in the relevant
prospectus supplement. We urge you to carefully read this
Prospectus, its exhibits, together with the documents we are
entitled to incorporate by reference, if any, describing the terms
of these securities before investing. Neither the Securities and
Exchange Commission nor any state securities commission has
approved or disapproved of these securities or passed upon the
adequacy or accuracy of this prospectus. Any representation to the
contrary is a criminal offense.
Our
independent registered public accounting firm has included a “going
concern” paragraph regarding our consolidated financial
statements.
The
date of this Prospectus is January 17, 2023.
TABLE
OF CONTENTS
ABOUT
THIS PROSPECTUS
This
prospectus is part of a registration statement that we have filed
with the Securities and Exchange Commission (the “SEC”) pursuant to
which the Selling Shareholder named herein may, from time to time,
offer and sell or otherwise dispose of the securities covered by
this prospectus. You should not assume that the information
contained in this prospectus is accurate on any date subsequent to
the date set forth on the front cover of this prospectus or that
any information we have incorporated by reference is correct on any
date subsequent to the date of the document incorporated by
reference, even though this prospectus is delivered or securities
are sold or otherwise disposed of on a later date. It is important
for you to read and consider all information contained in this
prospectus, including any information incorporated by reference
herein, in making your investment decision. You should also read
and consider the information in the documents to which we have
referred you under the captions “Where You Can Find More
Information” in this prospectus.
Neither
we nor the Selling Shareholder have authorized any dealer, salesman
or other person to give any information or to make any
representation other than those contained or incorporated by
reference in this prospectus. You must not rely upon any
information or representation not contained or incorporated by
reference in this prospectus. This prospectus does not constitute
an offer to sell or the solicitation of an offer to buy any of our
securities other than the securities covered hereby, nor does this
prospectus constitute an offer to sell or the solicitation of an
offer to buy any securities in any jurisdiction to any person to
whom it is unlawful to make such offer or solicitation in such
jurisdiction. Persons who come into possession of this prospectus
in jurisdictions outside the United States are required to inform
themselves about, and to observe, any restrictions as to the
offering and the distribution of this prospectus applicable to
those jurisdictions.
We
further note that the representations, warranties and covenants
made in any agreement that is filed as an exhibit to any document
that is incorporated by reference in the accompanying prospectus
were made solely for the benefit of the parties to such agreement,
including, in some cases, for the purpose of allocating risk among
the parties to such agreements, and should not be deemed to be a
representation, warranty or covenant to you. Moreover, such
representations, warranties or covenants were accurate only as of
the date when made. Accordingly, such representations, warranties
and covenants should not be relied on as accurately representing
the current state of our affairs.
Unless
the context otherwise requires, references in this prospectus to
“TSOI,” the “Company,” “we,” “us,” and “our” refer to Therapeutic
Solutions International, Inc., a Nevada corporation.
PROSPECTUS SUMMARY
The
following is a summary
of what we believe to be the most important aspects of our business
and the offering of our securities under this prospectus. We urge
you to read this entire prospectus, including the more detailed
financial statements, notes to the financial statements, exhibits,
and other information incorporated by reference, if any, from our
other filings with the SEC. Each of the risk factors could
adversely affect our business, operating results and financial
condition, as well as adversely affect the value of an investment
in our securities.
The Securities Purchase Agreement
On or
about September 19, 2022, GHS LLC, a Nevada limited liability
company (“GHS” and/or “Selling Shareholder”), and
Therapeutic
Solutions International, Inc. (“TSOI” and/or “Company”), a Nevada
corporation, entered in a securities Purchase Agreement (the
“Purchase Agreement”), wherein the terms and conditions of the
equity financing transaction provide that, upon effectiveness of a
registration statement on Form S-1 (the “Registration Statement”)
filed with the U.S. Securities and Exchange Commission (the
“Commission”), the Company shall have the discretion to deliver
puts to GHS and GHS will be obligated to purchase shares of the
Company’s common stock, par value $0.0001 per share (the “Common
Stock”) based on the investment amount specified in each put
notice. TSOI has the right to sell to GHS, and the GHS has the
obligation to purchase from TSOI put common stock pursuant to a
Purchase Notice common stock (“Purchase Shares”) from time to time,
to purchase a minimum of ten thousand dollars ($10,000.00) and up
to a maximum of: (1) five hundred thousand dollars ($500,000.00)
and two times (2x) the average daily dollar trading volume for the
Company’s stock during the relevant Valuation Period all subject to
the Available Amount. Each Purchase Notice will set forth the
Purchase Price and number of Purchase Shares in accordance with the
terms of the PA, as follows:
Notwithstanding
the foregoing dollar limitations, the Company and the Investor may,
from time to time, mutually agree (in writing) to waive the
aforementioned limitations for a relevant Purchase Notice, which
waiver, for the avoidance of doubt, shall not exceed the Beneficial
Ownership Limitation contained herein. The Company may not deliver
more than one Purchase Notice to the Investor every ten (10)
Business Days unless, from time to time, TSOI and GHS mutually
agree to different timing of the delivery Purchase
Notices.
Settlement
for Purchase Shares. On each Settlement Date, for each Purchase
hereunder, the Company shall deliver a number of Purchase Shares
equal to 100% of the aggregate Purchase Amount for such Purchase
divided by the Purchase Price per share for such Purchase, against
payment by the Investor to the Company of the Purchase Amount with
respect to such Purchase (less documented deposit and clearing
fees, if any), as full payment for such Purchase Shares via wire
transfer of immediately available funds. The Company shall not
issue any fraction of a share of Common Stock upon the any
Purchase.
Beneficial
Ownership Limitation. Notwithstanding anything to the contrary
contained in this Agreement, the Company shall not issue or sell,
and the Investor shall not purchase or acquire, any shares of
Common Stock under the PA which, when aggregated with all other
shares of Common Stock then beneficially owned by GHS and its
affiliates (as calculated pursuant to Section 13(d) of the Exchange
Act and Rule 13d-3 promulgated thereunder), would result in the
beneficial ownership by the Investor and its affiliates of more
than 4.99% of the then issued and outstanding shares of Common
Stock (the “Beneficial Ownership Limitation”).
Discount
Price. With respect to a Purchase made pursuant to Section 2(a)
hereof, 80% of the lowest traded price of the Common Stock during
the Valuation Period (the ten (10) consecutive Business Days
immediately preceding, but not including, the Settlement
Date).
For
example, on November 28th, 2022, the lowest traded price
of the Company’s common stock during the ten (10) consecutive
trading day period immediately preceding the filing of this
Registration Statement was $.0102. At that price we would be able
to sell 49,019,607 shares to GHS under the securities Purchase
Agreement at the discounted price of $0.00816. At that discounted
price, the put amount of $500,000 worth of shares registered for
issuance to GHS under the securities Purchase Agreement would, if
sold by us to GHS, would result in an aggregate number of
additional shares of 12,254,902. There is no assurance the price of
our common stock will remain the same as the market price, increase
or decrease.
The
securities Purchase Agreement (section 1(u)) also contains a
provision for a discount rate different from above in the event we
were to uplist to a National Exchange, as that meaning is defined
in the Act. The Company has no plans to uplist in the foreseeable
future, if ever.
THE OFFERING
Common
stock offered by selling stockholders: |
|
Up to
555,000,000 shares of Common Stock. |
|
|
|
Offering
Price Per Share:
|
|
The
Selling Shareholder identified in this prospectus may sell all or a
portion of the shares being offered under the Financing Agreement
at fixed prices and prevailing market prices at the time of sale,
at varying prices or at negotiated prices.
|
|
|
|
Common
stock outstanding: |
|
|
|
|
|
Before
offering |
|
2,656,578,599 |
|
|
|
After
offering fully executed |
|
(TBD) |
|
|
|
Use
of proceeds: |
|
We
will not receive any proceeds from the sale of the shares of our
common stock by the selling shareholder. However, we will receive
proceeds from our initial sale of shares to GHS, pursuant to the
securities Purchasing Agreement. The proceeds from the initial sale
of shares will be used for the purpose of working
capital. |
|
|
|
OTCQB
Marketplace symbol:
|
|
Shares
of our common stock are currently quoted on the OTCQB Marketplace
under the symbol “TSOI.”
|
|
|
|
Risk
Factors:
|
|
This
investment involves a high degree of risk. See “Risk Factors” for a
discussion of factors you should consider carefully before making
an investment decision.
|
Company Overview
Therapeutic
Solutions International, Inc. Therapeutic Solutions International,
Inc. (“TSOI” or the “Company”), was organized August 6, 2007, 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.
Business Description
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.
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.
TSOI
is developing a range of immune-modulatory agents to target certain
cancers, schizophrenia, suicidal ideation, traumatic brain injury,
and for daily health.
Nutraceutical
Division – 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.
Cellular
Division – 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).
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.
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.
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, 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%. 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.
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.”
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.
Most recently the Company announced filing of a patent application
covering the use of JadiCells™ for treatment of epilepsy and
associated conditions.
Investigational Drug Applications:
Treatment
of Metastatic Breast Cancer by StemVacs-V Cancer Immunotherapeutic
IND #
The
Primary Objective is safety and feasibility of StemVacs-V
administration at 12 months as assessed by lack of adverse medical
events. The Secondary Objective is efficacy as judged by tumor
response, time to progression, and immunological
monitoring.
Safety,
Feasibility, and Immunomodulatory Activities of StemVacs in
Patients with Advanced Solid Tumors IND # 17448
The
Primary Objective is safety and feasibility of StemVacs
administration at 12 months as assessed by lack of adverse medical
events. The Secondary Objective is efficacy as judged by tumor
response, time to progression, and immunological
monitoring.
Umbilical
Cord-derived Mesenchymal Stem Cells for Patients with COVID-19
(“UC-MSC for COVID-19”) IND # 19757
The
primary objective will be to assess effectiveness of UC-MSC
treatment on proportion of patients alive and free of respiratory
failure at Day 60 after randomization. The secondary objectives
will be to assess all-cause mortality at Day 60, survival at day
31, number of subjects experiencing serious adverse events (SAEs)
by day 31, SAE-free survival, time to recovery (evaluated until day
60), and time to oxygen requirement equal or below 40%
oxygen.
Investigation
of Umbilical Cord-derived Mesenchymal Stem Cells for the Treatment
of Chronic Traumatic Encephalopathy Patients IND #
27377
To
determine safety and efficacy of 100 million intravenously
administered JadiCell™ allogeneic umbilical cord mesenchymal stem
cells. Efficacy will be determined by behavioral scores, brain
imaging, and reduction in inflammatory markers. Toxicity of
treatment was evaluated for the duration of the study and will be
graded according to the criteria of the World Health
Organization.
JadiCell
Therapy for COPD IND # 28508
To
determine safety and efficacy of intravenously administered
allogeneic JadiCell umbilical cord blood mesenchymal stem cells in
patients with moderate-to-severe COPD. The Primary Endpoint, which
is toxicity, will be assessed by number of adverse events (AEs).
The Secondary Endpoint, which is efficacy will be evaluated at
baseline and days 30, 60, and 90.
Nutraceutical Division (TSOI)
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ProJuvenol®
is a patented, (US No.: 9,682,047) and powerful synergistic blend
of complex anti-aging ingredients in capsules. |
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NanoStilbene™
is an easily absorbed nanoemulsion of nanoparticle pterostilbene
derived from the ‘047 patent. |
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DermalStilbene
is a topical form of pterostilbene delivered via spray application
onto skin, derived from the ‘047 patent. |
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IsoStilbene
an injectable
formulation of pterostilbene
is available by prescription only, derived from the ‘047
patent. |
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NeuroStilbene
is an intranasal form of pterostilbene delivered via spray
application inside the nostril, derived from the ‘047
patent. |
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NanoPSA
is a blend of
NanoStilbene™ and Broccoli Sprout Extract (BSE) providing 74mg of
BSE and 125mg of our patented NanoStilbene, a proprietary
formulation of nanoparticle pterostilbene. |
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NLRP3 Trifecta is a two-product combo and
consists of one bottle of
NanoPSA and one bottle of GTE-50 green tea
extract. |
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QuadraMune™
is a multi-patented synergistic blend of pterostilbene, sulforaphane,
epigallocatechingallate, and thymoquinone. |
Patents:
On
January 04, 2023, the Company filed a patent application
titled “Enhanced Efficacy of Tolerogenic Vaccination” which
disclosed means, methods, and compositions of matter useful for
induction of antigen specific suppression of immunity and/or
tolerogenesis through administration of tolerogenic agents together
with antigens and/or modified antigens delivered via multiple
intradermal injections. In one embodiment the invention teaches the
use of a tattoo gun or a similar device to administer over an
extended area of skin a compound which induces a tolerogenic
microenvironment and subsequently administration of said antigen in
the artificially created microenvironment. The essence of the
disclosed invention is the superior tolerogenic effects observed
when tolerogenic stimuli and antigen are administered over an
extended area of skin through the use of a tattoo gun or similar
device.
On November 14, 2022, the Company filed a patent titled
“Treatment of Chronic Obstructive Pulmonary Disease with Myeloid
Derived Suppressor Cells” which discloses compositions of
matter, protocols, and treatment means for prevention and/or
reversing Chronic Obstructive Pulmonary Disease (COPD) using
myeloid derived suppressor cells as a monotherapy or adjuvant
therapy. In one embodiment umbilical cord low density myeloid
cells are expanded using interleukin-3 and GM-CSF and administered
in an allogeneic manner to a mammal suffering from COPD. In
some embodiments combinations of myeloid derived suppressor cells
and mesenchymal stem cells are disclosed.
On October 24, 2022, the Company filed a patent application
titled “Mesenchymal Stem Cell Therapy of Epilepsy and Seizure
Disorders” which discloses novel compositions of matter and
treatment methods for reducing and/or reversing epilepsy through
administration of mesenchymal stem cells in order to induce immune
modulation and/or regenerative processes. In one embodiment
umbilical cord mesenchymal stem cells are administered to a patient
suffering from epilepsy at a concentration and frequency sufficient
to inhibit neuronal hyperactivation and/or reduce neuroinflammatory
status of the patient.
On October 03, 2022, the Company filed a patent application
titled “Stimulation of Pulmonary Regenerative Exosomes by
Mesenchymal Stem Cells and Derivatives Thereof” which discloses
therapeutic means for pulmonary degenerative conditions through the
administration of mesenchymal stem cells in order to induce
regenerative exosomes from dendritic cells expressing CD103. In one
embodiment cultures of mesenchymal stem cells with dendritic cell
progenitors are disclosed wherein said mesenchymal stem cells
induce a modulation of STAT3 signaling in said dendritic cell
endowing a regenerative property to said dendritic cells and
exosomes derived from said cells.
On September 19, 2022, the Company filed a patent
application titled “Treatment of Bipolar Disorder Using
Mesenchymal Stem Cells and Modification of Mesenchymal Stem
Cells” that discloses the utilization of mesenchymal stem
cells, exosomes from mesenchymal stem cells, conditioned media from
mesenchymal stem cells, apoptotic bodies from mesenchymal stem
cells, and modified mesenchymal stem cells for treatment of bipolar
disorder. In one embodiment mesenchymal stem cells isolated from
umbilical cord tissue are treated with carbon monoxide at a
concentration sufficient to induce activation of heme-oxygenase I
and infused into a patient at risk or suffering from bipolar
disorder.
On September 12, 2022, the Company filed a patent
application titled “Treatment of COPD by Stimulation of Stem
Cell Mobilization” which discloses means of inducing pulmonary
regeneration and/or protection from oxidative stress by stimulation
of endogenous stem cell mobilization together with one or more
inhibitors of NF-kappa B and/or one or more inhibitors of oxidative
stress. The invention discloses the unexpected finding that G-CSF
administration enhances oxidative stress and pulmonary damage,
however, coadministration with pterostilbene, results in
synergistic suppression of COPD pathology.
On August 29, 2022, the Company filed a patent application
titled “Gene Silencing Therapy of Acute Respiratory
Disorder” that teaches treatment means, compositions of matter
and protocols useful for suppression of acute respiratory disorder
(ARDS) through induction of RNA interference in the pulmonary
microenvironment alone and/or in conjunction with mucolytic and/or
DNA disrupting agents. In one embodiment short interfering RNA
(siRNA) is prepared which targets complement receptors C3R and/or
C5R together with TNF-receptor, IL-6 receptor and/or TLR4 and TLR9.
In some embodiments NanoStilbene is utilized as a delivery vehicle
for siRNA delivery.
On August 12, 2022, the Company filed a patent application
titled “Treatment of Chronic Obstructive Pulmonary Disease by
Mesenchymal Stem Cell Apoptotic Bodies and Compositions
Thereof” that discloses means, treatments and compositions of
matter useful for treatment of chronic obstructive pulmonary
disease (COPD). In one embodiment the invention provides the
administration of mesenchymal stem cell apoptotic bodies alone or
in combination with “regenerative adjuvants” to prevent and/or
reverse reduction in lung function associated with COPD. In other
embodiments the invention teaches the utilization of stem cell
apoptotic bodies for induction of pulmonary regeneration directly
or indirectly.
On July 29, 2022, the Company filed a patent application
titled “Gene Modified iPSC Derived Cellular Compositions for
Regeneration and Immune Modulation” that disclosed cells and
cellular compositions useful for treatment of degenerative and/or
autoimmune diseases derived from gene edited/gene modified
pluripotent stem cells. In one embodiment pluripotent stem cell
such as inducible pluripotent stem cells are gene modified to
express tissue associated transcription factors such as pdx-1 if
endodermal tissue is desired and cells are differentiated into
regenerative-type cells such as along the mesenchymal lineage. In
one embodiment the invention teaches transfection with IL-27 to
induce expression of coinhibitory molecules for suppression of
autoimmunity. In some embodiments the invention provides generation
of iPSC derived MSC which cannot stimulate inflammation due to
gene-editing based removal of inflammatory associated transcription
factors.
On
May 12, 2022, the Company filed a patent application titled
“Inhibition and Reversion of Chronic Obstructive Pulmonary
Disease (COPD) by Endothelial Cell Regeneration” that teaches
means, treatment methods, and compositions of matter useful for
prevention and/or reversion of chronic obstructive pulmonary
disease (COPD). In one embodiment the invention provides the
administration of mesenchymal stem cells and exosome thereof as a
means of augmenting endogenous endothelial regeneration and/or
endothelial regeneration stimulated by exogenous means. In some
embodiments the invention provides administration of allogeneic
mesenchymal stem cells together with autologous endothelial
progenitor cells and/or mobilization of said autologous endothelial
progenitor cells.
On
March 7, 2022, the Company filed a patent application titled
“Treatment of Trauma Associated Cognitive Dysfunction Using
Mesenchymal Stem Cell Apoptotic Bodies and Compositions
Thereof” which teaches means, treatments and compositions of
matter useful for treatment of chemotherapy/radiotherapy associated
cognitive dysfunction. In one embodiment the invention provides the
administration of mesenchymal stem cell apoptotic bodies alone or
in combination with “regenerative adjuvants” to prevent and/or
reverse cognitive dysfunction associated with chemotherapy and/or
radiation therapy. In other embodiments the invention teaches the
utilization of stem cell apoptotic bodies for induction of
neuroregeneration directly or indirectly.
On
February 7, 2022, the Company filed a patent application
titled “Treatment of COVID-19 Associated Cognitive Dysfunction
by Nutraceutical Preparations” that teaches means and methods
of treating cognitive dysfunction associated with COVID-19 and/or
other associated with inflammatory conditions. In one embodiment
treatment of COVID-19 cognitive dysfunction performed by
administration of nutraceutical means, wherein said nutraceuticals
are administered at a frequency and/or concentration sufficient to
induce proliferation of endogenous neural progenitor cells and/or
protect cells from inflammatory damage. In one embodiment said
nutraceuticals are comprised of green tea extract, and/or nigella
sativa, and/or pterostilbene, and/or sulforaphane. In some
embodiments nutraceutical compositions are utilized to overcome
treatment resistant of currently used antidepressants.
On
November 1, 2021, the Company filed a patent application
titled “Induction of Concurrent Pulmonary Immune Modulation and
Regeneration by Protein Mediated Conjugation of Immune Regulatory
Cells with Endogenous Progenitor Cells” that discloses means,
methods and compositions of matter useful for treatment of
inflammatory pulmonary diseases such as COVID-19 through
administration of agents that facilitate interaction between immune
modulatory cells and endogenous pulmonary progenitor cells. In one
embodiment a bispecific antibody capable of facilitating the
interaction between CD25 on T regulatory cells and CD47 on
pulmonary epithelial stem cells is described.
On
October 11, 2021, the Company filed a patent application
titled “Umbilical Cord Derived Regenerative and Immune
Modulatory Stem Cell Populations” which provides universal
donor cellular populations derived from umbilical cords possessing
ability to elicit immune modulation and evoke regeneration when
administered into a mammalian host. Generation of cellular products
for clinical use are provided including methodologies of expansion,
characterization, and means of therapeutic
implementation.
On
October 4, 2021, the Company filed a patent application
titled “Reduction of Neutrophil Extracellular Trap formation by
Mesenchymal Stem Cells and their Exosomes” that disclosed
methods of reducing lung inflammation in acute respiratory distress
syndrome elicited by various factors such as COVID-19 infection by
reduction of neutrophil extracellular trap formation through
administration of mesenchymal stem cells and/or exosomes thereof.
The invention provides means of inhibiting neutrophil release of
extracellular traps by mesenchymal stem cells and/or exosomes
derived from said mesenchymal stem cells. Additionally, synergies
are provided between mesenchymal stem cells and/or exosomes derived
from mesenchymal stem cells and agents approaches which reduce
neutrophil extracellular trap formation.
On
September 22, 2021, the Company filed a patent application
titled “Stimulation of Mesenchymal Stem Cell Therapeutic
Activities by T Regulatory Cells” teaches novel means of
enhancing mesenchymal stem cell regenerative activities including,
intra alia, production from pulmonary leakage and suppression of
scar tissue formation by co-administration with T regulatory cells.
In some embodiments the invention provides an interaction between T
regulatory cells and mesenchymal stem cells in which T regulatory
cells stimulate upregulation of mesenchymal stem cell activity in a
GITR dependent manner.
On
September 16, 2021, the Company filed a patent application
titled “Ivermectin Compositions for Treatment of COVID-19”
that discloses novel mechanisms of action of ivermectin therapy as
related to treatment of COVID-19 and means of augmenting
therapeutic activities by co-administration with one or more of the
following: pterostilbene, thymoquinone, epigallocatechin-3-gallate,
and sulforaphane. In one embodiment the invention provides enhanced
reduction of inflammation induced pulmonary leakage without
augmenting immune suppressive mechanisms.
On
August 23, 2021, the Company filed a patent application
titled “Umbilical Cord Mesenchymal Stem Cells for Treatment of
Chronic Obstructive Pulmonary Disease and Lung Degeneration”
that discloses means of treating lung degenerative diseases
including chronic obstructive pulmonary disease (CODP) using
umbilical cord mesenchymal stem cells such as JadiCells alone,
and/or using said cells under conditions that are activated in
order to endow enhanced regenerative activity. In one embodiment
said activation of said mesenchymal stem cells is performed through
stimulation with a toll like receptor agonist at a concentration
and duration sufficient to induce a >50% increase in
keratinocyte growth factor expression from said stem cells. In
another embodiment the invention provides the use of JadiCells as a
means of producing exosomes, wherein said exosomes possess
therapeutic properties capable of reducing inflammation, fibrosis
and degeneration associated with COPD, as well as stimulation of
regenerative activity. In some JadiCells are activated by a
treatment with Activated Protein C.
On
August 18, 2021, the Company filed a patent application
titled “Enhancement of Umbilical Cord Mesenchymal Stem Cell
Therapeutic Activity by Stimulators of T Regulatory Cells and/or
Cells Expressing CD73” that teaches compositions of matter and
protocols useful for treatment of COVID-19 and/or other
inflammatory pathologies through stimulation of T regulatory cells
and/or T cells expressing CD73 using administration of umbilical
cord derived mesenchymal stem cells such as JadiCells. In one
embodiment dosage of JadiCells needed to treat a patient is
determined by the increase of T regulatory cells and/or CD73
expressing cells that are increased in number and/or activity
subsequent to a test dose of JadiCells. In another embodiment
stimulators of T regulatory cells and/or CD73 expressing T cells
are utilized together with JadiCells in order to augment
therapeutic activity. In some embodiments administration of
JadiCell is performed with low dose interleukin-2 as a treatment
for COVID-19 or other inflammatory related pathologies.
On
August 11, 2021, the Company filed a patent application
titled “Induction of Neurogenesis using Umbilical Cord Derived
Mesenchymal Stem Cells and Derivatives Thereof” that disclosed
compositions of matter and protocols useful for treatment of
neurological dysfunctions through stimulation of adult neurogenesis
using administration of umbilical cord derived mesenchymal stem
cells such as JadiCells. In one embodiment viral induced neuropathy
is reduced by administration of JadiCells to stimulate
neurogenesis. In another embodiment the neurogenic activity of
selective serotonin reuptake inhibitors is enhanced by
administration of JadiCells. In some embodiments administration of
JadiCell exosomes, conditioned media, microvesicles and/or
apoptotic bodies is utilized to stimulate neurogenesis.
On
July 28, 2021, the Company filed a patent application titled
“Neuroprotection and Neuroregeneration by Pterostilbene and
Compositions Thereof” with new data demonstrating that the
blueberry derived compound pterostilbene possesses numerous brain
protective and potentially brain regenerative activities. The data
disclosed by the Company indicates: a) pterostilbene suppresses
inflammatory cytokines TNF-alpha, IL-1 beta and IL-6; b)
pterostilbene inhibits death of neurons caused by inflammatory
mediators; c) pterostilbene stimulates production of regenerative
factors from cells in the brain such as BDNF, NGF, FGF-1, and
FGF-2; and d) pterostilbene allows/enhances proliferation of
endogenous brain stem cells. Granted on November 23,
2022.
On
July 6, 2021, the Company filed a patent application titled
“Treatment of Parkinson’s Disease by Immune Modulation and
Regenerative Means” in which we describe and disclose means,
methods and compositions of matter for treatment Parkinson’s
Disease through concurrent immune modulation and regenerative
means. In one embodiment Parkinson’s Disease is treated by
augmentation of T regulatory cell numbers and/or activity while
concurrently providing regenerative cells such as mesenchymal stem
cells, and/or dopamine secreting cells. In one embodiment
administration of immunoglobulins such as IVIG together with low
dose interleukin-2 and/or low dose naltrexone is disclosed as a
preparatory means prior to administration of therapeutic cells such
as stem cells. Other therapeutic means utilized in an adjuvant
manner are also provided for hormonal rebalancing, transcranial
magnetic stimulation, and deep brain stimulation.
On
May 24, 2021, the Company filed a patent application titled
“Immunotherapies for Targeting of Tumor Vasculature” that
disclosed novel means, protocols, and compositions of matter for
creating targeted immune responses and/or induction of
immunological memory towards the tumor vasculature. In one
embodiment pluripotent stem cells are transfected with one or more
genes capable of eliciting immunity, induced to differentiate into
endothelial-like cells which resemble the tumor endothelial cells,
and utilized as a vaccine. In some embodiment’s genes are
engineered under control of specific promoters to allow for various
specificities of activity. In one specific embodiment pluripotent
stem cells engineered to endow properties capable of inducing
expression of the α- Gal epitope (Galα1,3Galα1,4GlcNAc-R). Addition
of adjuvants to enhance antigen presentation of the vaccine
composition, as well as means of stimulating systemic enhancement
of circulating endothelial specific T cells are also disclosed.
Published on November 24, 2022.
On
May 21, 2021, the Company filed a patent application titled
“Lithium as a Monotherapy and/or Stem Cell Adjuvant Therapy for
Pulmonary Fibrosis” that disclosed compositions of matter,
therapeutics, and protocols useful for reduction and/or reversion
of pulmonary fibrosis. In one specific embodiment lithium chloride
is administered together with a regenerative cell in a patient
suffering from, or at risk of pulmonary fibrosis. In one embodiment
said lithium chloride is administered as an adjuvant to a
regenerative therapy, wherein said regenerative therapy is a gene
therapy, a protein therapy, a cell therapy, or a tissue transplant.
In one embodiment lithium chloride, or a salt thereof is utilized
alone, or with a regenerative means, to evoke preservation and/or
elongation of telomere length in pulmonary tissue. In one
embodiment the invention teaches administration of umbilical cord
mesenchymal stem cells (MSC) and/or products derived from said
cells in order to induce an inhibition of natural or pathological
reduction of telomere length, to preserve telomere length or to
enhance telomere length. In one embodiment the MSC described in the
invention as useful are umbilical cord derived MSC. Published on
November 24, 2022.
On
May 17, 2021, the Company filed a patent application titled
“Treatment of Major Depressive Disorder by Low Dose
Interleukin-2” which teaches methods, compositions of matter,
and protocols useful for treatment of major depressive disorder
through administration of low dose interleukin- 2 at a
concentration and/or frequency sufficient to increase expansion of
T regulatory cell numbers and/or enhancement of T regulatory cell
activity. In some embodiments administration of interleukin-2 is
provided as means of enhancing efficacy of standard antidepressant
therapies. Furthermore, administration of interleukin-2 receptor
agonists is also described in the current invention as a treatment
of major depressive disorder.
On
April 13, 2021, the Company filed a patent application
titled “Amelioration and Treatment of Opioid Addiction” that
discloses compositions of matter, protocols and treatment means for
reducing and/or preventing opioid addiction. In one embodiment the
invention teaches intranasal administration of umbilical cord blood
plasma, or extracts thereof, together with pterostilbene or
pterostilbene containing nanoparticles, and/or oxytocin, and/or
human chorionic gonadotropin.
On
March 29, 2021, the Company filed a patent application
titled “Compositions Capable of Stimulating Immunity Towards
Tumor Blood Vessels” which discloses novel means, protocols,
and compositions of matter for eliciting an immune response against
blood vessels supplying neoplastic tissue. In one embodiment
pluripotent stem cells are transfected with one or more genes
capable of eliciting immunity. In some embodiments such genes are
engineered under control of specific promoters to allow for various
specificities of activity. In one specific embodiment pluripotent
stem cells engineered to endow properties capable of inducing
expression of the α-Gal epitope
(Galα1,3Galα1,4GlcNAc-R).
On
March 23, 2021, the Company filed a patent application
titled “Chimeric Cells Comprising Dendritic Cells and
Endothelial Cells Resembling Tumor Endothelium” which disclosed
are means, methods and compositions of matter useful for induction
of immunological responses towards tumor endothelial cells. In one
embodiment the invention teaches fusion of dendritic cells and
cells resembling tumor endothelial cells and administration of such
chimeric cells as an immunotherapy for stimulation of tumor
endothelial cell destruction. In other embodiments pluripotent stem
cells are utilized to generate dendritic cells, wherein said
dendritic cells are fused with pluripotent stem cell derived
endothelial cells created in a manner to resemble tumor endothelial
cells.
On
March 16, 2021, the Company filed a patent application
titled “Pluripotent Stem Cell Derived Dendritic Cells and
Engineered Dendritic Cells for Cancer Immunotherapy” which
disclosed are populations of dendritic cells generated from stem
cells capable of inducing immunity towards cancer. In one
embodiment said dendritic cells are generated from allogeneic
inducible pluripotent stem cells, for some uses, said pluripotent
stem cells are genetically engineered/edited to induce cancer
specific immunity and/or resist immunosuppressive effect of tumor
derived microenvironment. In one embodiment pluripotent stem cells
are transfected with cancer stem cell antigens such as BORIS and/or
NR2F6.
On
March 4, 2021, the Company filed a patent application titled
“Therapeutic Monocytes for Prevention of Suicidal Ideation”
that discloses compositions of matter, protocols, and therapeutic
means for treatment of suicidal ideations and/or suppression of
suicidal attempts. In one embodiment the invention provides the use
of umbilical cord derived monocytes as a means of treatment. In
another embodiment, monocytes are de-differentiated from adult
monocytes using reprogramming means to create monocyte capable of
producing anti-inflammatory as well as regenerative properties
useful in reducing suicidal ideations and/or attempts. Published on
September 8, 2022.
On
February 2, 2021, the Company filed a patent application
titled “Ex Vivo Generation of Immunocytes Recognizing Brother Of
The Regulator of Imprinted Sites (BORIS) Expressing Cancer Stem
Cells” that discusses means, methods and compositions of matter
useful for induction of immunity towards cancer stem cells by
providing a dendritic cell, wherein said dendritic cells express
BORIS and/or peptides derived from BORIS, wherein said dendritic
cell is cultured in the presence of one or more immunocytes. In one
embodiment said dendritic cells are derived from umbilical cord
blood sources and allogeneic to T cells, which are expanded ex vivo
and used for the purposes of immunotherapy. Published on August 25,
2022.
On
February 8, 2021, the Company filed a patent application
titled “Stimulation of Natural Kill Cell Memory by
Administration of Dendritic Cells” which disclosed means,
methods and compositions of matter useful for induction of natural
killer cell memory by administration of dendritic cells and/or
exosomes thereof. In one embodiment a mammal suffering from cancer
is administered allogeneic cord blood derived dendritic cells that
are not pulsed exogenously. In one embodiment the dendritic cells
are stimulated to possess chemotactic activity towards the tumor by
culture of dendritic cell progenitors in hypoxia. Natural killer
cell memory is induced, in part, by triggering of upregulation of
cytokines associated with homeostatic expansion such as interleukin
7 and interleukin 15. Published on August 11, 2022.
On
January 26, 2021, the Company filed a patent application
titled “Stimulation of Dendritic Cell Activity by Homotaurine
and Analogues Thereof” which discloses means, methods, and
compositions of matter useful for enhancement of dendritic cell
activity. In one embodiment the invention provides the use of GABA
agonists such as homotaurine for stimulation of dendritic cell
activity. In one embodiment said dendritic cell activity is
enhancement of natural killer cell activity and/or of T cell
activity. In one embodiment NK cell activity is ability to induce
cytotoxicity in neoplastically transformed cells, whereas T cell
activity is either cytokine production for CD4 cells or
cytotoxicity for CD8 cells. Published on July 28, 2022.
On
December 21, 2020, the Company filed a patent application
titled “Immunotherapy for Opioid Addiction” which teaches
means, methods and compositions of matter useful for reduction of
brain inflammation and prevention of opioid addiction and/or
tolerance. In one embodiment the invention provides utilization of
platelet rich plasma (PRP), alone, or admixed with
regenerative/anti-inflammatory adjuvants, for reduction of neural
inflammation. In one embodiments PRP is admixed with oxytocin and
administered intranasally in a patient at risk of opioid addiction.
In another embodiment, PRP is admixed with fortified and
non-fortified nigella sativa oil, and/or pterostilbene and
administered intranasally. Other embodiments include utilization of
autologous stromal vascular fraction cells alone and/or admixed
with regenerative/anti-inflammatory adjuvants.
Published
on June 23, 2022.
On
December 8, 2020, the Company filed a patent application
titled “Treatment of Major Depressive Disorder and Suicidal
Ideations Through Stimulation of Hippocampal Neurogenesis Utilizing
Plant-Based Approaches” that teaches means and methods of
treating major depressive disorder and/or other disorders that
predispose to suicide by administration of nutraceutical means,
wherein said nutraceuticals are administered at a frequency and/or
concentration sufficient to induce proliferation of endogenous
neural progenitor cells. In one embodiment said nutraceuticals are
comprised of green tea extract, and/or nigella sativa, and/or
pterostilbene, and/or sulforaphane. In some embodiment’s
nutraceutical compositions are utilized to overcome treatment
resistant of currently used antidepressants. Published on June 9,
2022.
On
November 24, 2020, the Company filed a patent application
titled “Stimulation of NK Cell Activity by QuadraMune Alone and
together with Metformin” that disclosed means, compounds, and
compositions of matter useful for stimulation of natural killer
cell activity. In some embodiments the invention teaches the
administration of a therapeutic combination of ingredients
comprising of metformin, pterostilbene, nigella sativa,
sulforaphane, and epigallocatechin-3-gallate (EGCG) to a mammal in
need of natural killer cell immune modulation. In another
embodiment, the invention teaches administration of said
therapeutic combination to a mammal infected with said SARS-CoV-2.
In some embodiments dosage of said therapeutic combination is based
on inflammatory and/or immunological parameters observed in
patients with COVID-19. Published on May 26, 2022.
On
October 27, 2020, the Company filed a patent application
titled “Protection/Regeneration of Neurological Function by
Endothelial Protection/Rejuvenation” using Stem Cells for
Treatment of Conditions such as Chronic Traumatic Encephalopathy
and Schizophrenia” which therapeutic compounds, protocols, and
compositions of matter useful for treatment of neurological
conditions. In one embodiment the invention teaches the treatment
of chronic traumatic encephalopathy (CTE) through
protecting/regenerating the endothelial by administration of cells
such as stem cells. In one embodiment stem cells are administered
in order to protect the endothelium from apoptosis and to preserve
the blood brain barrier. In another embodiment stem cells are
administered together with endothelial progenitor cells in order to
regenerate neural endothelium. In other embodiments preservation of
brain integrity in conditions of degeneration is accomplished by
administration of stem cells and/or endothelial cells. Published on
April 28, 2022.
On
October 18, 2020, the Company filed a patent application
titled “Nutraceutical Reduction Prevention and/or Reversion of
Multiple Sclerosis” that discloses compositions of matter,
protocols, and treatment means for preventing and/or reversing
multiple sclerosis in a mammal. In one embodiment administration of
compositions containing pterostilbene, and/or nigella sativa,
and/or sulforaphane, and/or epigallocatechin-3-gallate (EGCG) are
provided. Published on June 23, 2022.
On
September 24, 2020, the Company filed a patent application
titled “Personalized Immunotherapies for Reduction of Brain
Inflammation and Suicide Prevention” that discloses means,
methods and compositions of matter useful for reduction of brain
inflammation and prevention of suicidal ideations and suicidal
attempts. In one embodiment the invention provides utilization of
autologous platelet rich plasma, alone, or admixed with
regenerative/anti-inflammatory adjuvants, for reduction of neural
inflammation. In one embodiment autologous PRP is admixed with
oxytocin and administered intranasally in a patient at risk of
suicidal ideation. In another embodiment, PRP is admixed with
fortified and non-fortified nigella sativa oil and administered
intranasally. Other embodiments include utilization of autologous
stromal vascular fraction cells alone and/or admixed with
regenerative/anti-inflammatory adjuvants. Published on March 24,
2022.
On
September 14, 2020, the Company filed a patent application
titled “Immunotherapy of Schizophrenia and Schizophrenia
Associated Suicidal Ideation/Suicide” Disclosed are methods,
means, and protocols of modifying the immune system so as to induce
an immunologically tolerant state insofar as T regulatory cell
number and/or activity is augmented in a patient suffering from
schizophrenia. In one embodiment T regulatory cells are
administered to the patient from exogenous sources, be they
allogeneic or autologous. In other embodiments, T regulatory cells
are generated endogenously through administration of immature
dendritic cells, mesenchymal stem cells, and/or pharmaceutical
means.
On
August 28, 2020, the Company filed a patent application
titled “Upregulation of Therapeutic T Regulatory Cells and
Suppression of Suicidal Ideations in Response to Inflammation by
Administration of Nutraceutical Compositions Alone or Combined with
Minocycline” which discloses compositions of matter, treatments
and protocols useful for induction of T regulatory cells in
response to inflammation, as well as inhibition of suicidal
ideations and/or neuroinflammation. In some embodiments the
invention teaches the administration of a therapeutic combination
of ingredients comprising of minocycline, pterostilbene, nigella
sativa, sulforaphane, and epigallocatechin-3-gallate (EGCG) to a
mammal undergoing upregulation of inflammatory mediators. Published
on March 3, 2022.
On
August 21, 2020, the Company filed a patent application
titled “Methods of Determining Risk of Suicide and/or Suicidal
Ideation by Immunological Assessment” which discloses means and
methods of identifying risk of suicide and/or suicidal ideation by
assessment of immunologically related cytokines and cells. In one
embodiment, a score, termed the “Campbell Score” is devised based
on assessment of serum cytokines, ability of immune cells to make
cytokines when stimulated ex vivo, and ability of immune cells to
produce neurotransmitters when stimulated ex-vivo. In one
embodiment the concentration of interleukin-6 is utilized as a
means of assessing suicidal propensity along, and/or in combination
with metabolites of the enzyme indolamine 2,3
deoxygenase.
On
August 05, 2020, the Company filed a patent application
titled “Prevention of Neuroinflammation associated Memory Loss
Using Nutraceutical Compositions” which discloses means,
methods, and therapeutic compositions for prevention of memory loss
during situations of neuroinflammation. In one embodiment the
invention teaches administration of the therapeutic combination of
ingredients comprising of pterostilbene, Nigella sativa,
sulforaphane, and epigallocatechin-3-gallate (EGCG) to a mammal
suffering from inflammation in order to preserver memory function.
Published on February 10, 2022.
On
July 22, 2020, the Company filed a patent application titled
“Additive and/or Synergistic Combinations of Metformin with
Nutraceuticals for the Prevention, Inhibition and Treatment of
SARS-Cov-2 and Associated COVID-19” showing potent synergy
between QuadraMune™ and the antidiabetic drug metformin in treating
COVID-19 associated lung damage models. It was discovered that the
ability of QuadraMune™ to protect the lungs from inflammation that
resembles coronavirus-induced pathology is markedly amplified by
concurrent administration of metformin. At a mechanistic level, it
was shown that metformin increased the ability of QuadraMune™ to a)
increase the number of “healing macrophages” (“M2” macrophages); b)
augment production of anti-inflammatory and regenerative proteins;
and c) suppress production of pathological inflammatory proteins.
Published on January 27, 2022.
On
July 13, 2020, the Company filed a patent application titled
“Prevention of Pathological Coagulation in COVID-19 and other
Inflammatory Conditions” s directed to the utilization of
pterostilbene, and/or nigella sativa extract, and/or sulforaphane,
and/or Epigallocatechin gallate (EGCG) alone or in combination, for
the prevention of pathological coagulation. In on embodiment a
composition containing all four ingredients is administered to a
patient at risk of hypercoagulation in order to prevent aberrant
expression of pro-coagulation molecules and/or induce expression of
molecules known to suppress coagulation. In one embodiment the
invention teaches administration of pterostilbene, thymoquinone,
sulforaphane, and EGCG as a means of decreasing expression of
tissue factor. Published on May 12, 2022.
On
June 30, 2020, the Company filed a patent application titled
“Augmentation of Natural Killer Cell Activity and Induction of
Cytotoxic Immunity Using Leukocyte Lysate Activated Allogeneic
Dendritic Cells: StemVacs™” which describes the process of
preparing allogeneic dendritic cells utilizing a leukocyte lysate
based approach. These data support development of StemVacs for
conditions that would benefit from NK activation such as cancer and
COVID-19. Published on March 31, 2022.
On
June 22, 2020, the Company filed a patent application titled
“Treatment of SARS-CoV-2 with Dendritic Cells for Innate and/or
Adaptive Immunity” that disclosed means, methods, and
compositions of matter for prophylaxis and/or treatment of
SARS-CoV-2 by administration of dendritic cells in a manner and
frequency sufficient to induce activation of innate and/or adaptive
immune responses. In one embodiment the invention teaches
administration of dendritic cells pulsed with one or more innate
immune stimulants in a manner endowing said dendritic cell with
ability to induce augmentation of natural killer (NK) cell number
and/or activity. In another embodiment the invention teaches the
use of dendritic cells stimulated with innate immune activators in
a manner to allow for uptake of viral particles and presentation of
viral epitopes to T cells in order to stimulate immunological
activation and/or memory responses. Published on December 23,
2021.
On
June 15, 2020, the Company filed a patent application titled
“Nutraceuticals for Suppressing Indolamine 2,3 Deoxygenase”
from new data showing QuadraMune™ significantly inhibited
inflammation associated with memory impairment, as well as reduced
levels of kynurenine. Elevation of kynurenine is associated with
activation of indolamine 2,3 deoxygenase, an enzyme associated with
inflammation and depression. Granted on January 25,
2022.
On
June 11, 2020, the Company filed a patent application titled
“Nutraceuticals for Reducing Myeloid Suppressor Cells” which
disclosed compositions of matter, treatments and protocols useful
for reduction of number and/or activity of myeloid suppressor cells
(MSC). In some embodiments the invention teaches the administration
of a therapeutic combination of ingredients comprising of
pterostilbene, Nigella sativa, sulforaphane, and
epigallocatechin-3-gallate (EGCG) to a mammal at possessing an
increased number and/or activity of said MSC in which reduction of
number and/or activity is desired. In another embodiment, the
invention teaches administration of said therapeutic combination to
a mammal infected with viral and/or bacterial infections and/or
neoplasia. In some embodiments dosage of said therapeutic
combination is based on inflammatory and/or immunological
parameters observed in patients. Published on December 16,
2021.
On
May 11, 2020, the Company filed a patent application titled
“Treatment of COVID-19 Lung Injury Using Umbilical Cord Plasma
Based Compositions” which disclosed means, methods, and
compositions of matter useful for the treatment of lung
inflammation associated with viral and bacterial infections, as
well as with systemic inflammation, through the administration of
umbilical cord blood derived plasma-based compositions. In one
embodiment the invention teaches administration of umbilical cord
blood plasma together with pterostilbene, and/or sulforaphane,
and/or thymoquinone, and/or Epigallocatechin gallate (EGCG) and/or
n-acetylcysteine in an aerosolized manner to patients suffering
from COVID-19 associated pulmonary deficiencies. In another
embodiment, umbilical cord blood plasma is administered with
immune-stimulatory agents in order to concurrently inhibit
propagation of viral load in the lung while suppressing pulmonary
deficiencies.
On
May 4, 2020, the Company filed a patent application titled
“Nutraceuticals for the Prevention, Inhibition and Treatment of
SARS-Cov-2 and Associated COVID-19” which teaches compositions
of matter, treatments and protocols useful for prevention of
SARS-CoV-2 infection, as well as inhibition of viral propagation
and acceleration of viral cure. In some embodiments the invention
teaches the administration of a therapeutic combination of
ingredients comprising of pterostilbene, nigella sativa,
sulforaphane, and epigallocatechin-3-gallate (EGCG) to a mammal at
risk of infection with SARS-CoV-2. In another embodiment, the
invention teaches administration of said therapeutic combination to
a mammal infected with said SARS-CoV-2. In some embodiments dosage
of said therapeutic combination is based on inflammatory and/or
immunological parameters observed in patients with COVID-19.
Granted on March 8, 2022.
On
November 4, 2019, the Company filed a patent application
titled “Cellular, Organ, and Whole-Body Rejuvenation Utilizing
Cord Blood Plasma and Pterostilbene” that disclosed methods,
means, and protocols for stimulation of rejuvenation in single
cells, organs, and organisms by administration of cord blood
derived plasma, cord blood plasma concentrates, and cord blood
derived exosomes together with pterostilbene. The invention
describes the previously unexpected finding that addition of
pterostilbene to cord blood enhances the rejuvenation properties of
cord blood. Said rejuvenation properties include telomere
preservation, reduction in beta galactosidase, and retention of
cellular activities. Published on May 6, 2021.
On
September 9, 2019, the Company filed a patent application
titled “Pterostilbene and Formulations Thereof for Protection of
Hematopoiesis from Chemotherapy and Radiation” which disclosed
compositions of matter useful for treatment and/or prevention of
hematopoietic injury using pterostilbene and formulations thereof.
In one embodiment nanoparticle delivered pterostilbene is
administered subsequent to chemotherapy induced neutropenia in
order to accelerate recovery of the hematopoietic compartment. In
another embodiment, pterostilbene is provided concurrently with
chemotherapy in order to concurrently assist the neoplasia killing
action of the chemotherapy while protecting the bone marrow from
suppression. In contrast to conventionally used agents that protect
from neutropenia such as G-CSF and GM-CSF, the products disclosed
can be chronically administered, thus allowing for concurrent use
with chemotherapeutic or radiotherapeutic agents.
On
January 21, 2019, the Company filed a patent application
titled “Prevention and Reversion of Chronic Traumatic
Encephalopathy through Administration of “Educated” Monocytes and
Progenitors Thereof” that provides means of preventing and/or
reversing chronic traumatic encephalopathy in a patient through the
modulation of monocytes as well as monocytic progenitors. In one
embodiment the invention teaches administration of monocytes that
have been previously “educated” by exposure to mesenchymal stem
cells in order to endow onto said monocytes properties associated
with stimulation of neuroregenerative properties. In some
embodiments monocytes are educated by treatment of monocytic
progenitors with conditions capable of endowing anti-inflammatory
and regenerative conditions, said conditions include culture with
epigenetic modifying agents. In other embodiments, the invention
teaches the manipulation of cord blood derived monocytes as a
starting population of cells for education by culture with
mesenchymal stem cells.
On
January 21, 2019, the Company filed a patent application
titled “Autologous Neurogenic Cells and Uses Thereof for
Professional Athletes at Risk of Chronic Traumatic
Encephalopathy” which disclosed are means, compositions of
matter and methods of business for treating Chronic Traumatic
Encephalopathy (CTE) using autologous primary cells and modified
cells of autologous origin which have been banked. In one
embodiment of the invention autologous dedifferentiation cells are
generated and stored for future administration in patients which
have suffered CTE. In other embodiments, dedifferentiated cells are
differentiated into neurons or neuronal progenitor cells and
subsequently administered locally or systemically or in a
combination. In other embodiments autologous cells are maintained
in an undifferentiated manner and/or neurologically differentiated
state and utilized as a conditioning source in an extracorporeal
circulatory system replicating clinical stage extracorporeal liver perfusion (ECLP)
with substitution of autologous dedifferentiated, neurologically
differentiated or a combination of said cells instead of hepatic
cells.
On
December 18, 2018, the Company filed a patent application
titled “Treatment of Chronic Traumatic Encephalopathy via RNA
Administration” which disclosed are protocols, treatment means,
and compositions of matter useful for treatment of Chronic
Traumatic Encephalopathy through administration of RNA or modified
RNA molecules. In one embodiment said RNA is generated to activate
various toll like receptors (TLR), of which said activation leads
to production of cytokines which paradoxically lead to protection
from Chronic Traumatic Encephalopathy, wherein said protection
constitutes a) reduction in glial cell activation, b) neuronal
apoptosis due to excitotoxicity; and c) stimulation of endogenous
regenerative processes including endothelial progenitor cell
mobilization, proliferation of neuronal progenitor cells in the
dentate gyrus and subventricular zones. In one particular
embodiment targeting of RNA molecules is performed to specific
brain cells including pyramidal neurons through the use of
liposomes, exosomes, apoptotic bodies, nanoparticles and shark or
cameloid antibodies is disclosed.
On
September 25, 2018, the Company filed a patent application
titled “Pterostilbene and Formulations Thereof for Treatment of
Pathological Immune Activation” that teaches treatments,
protocols, and compositions of matter are described for reduction
of pathological immune system activation. In one embodiment,
pterostilbene and/or formulations thereof are administered in a
patient suffering from cytokine release syndrome at a concentration
and frequency sufficient to reduce abnormal cytokine production and
thus treat the cause of said cytokine release syndrome.
Formulations of pterostilbene are disclosed for rapid release,
enhanced biodistribution, and targeting to cytokine releasing
effectors are disclosed for use in the practice of the
invention.
On
September 17, 2018, the Company filed a patent application
titled “Pterostilbene and Compositions Thereof for Prevention
and Treatment of Chronic Traumatic Encephalopathy” that teaches
means, methods, and compositions of matter useful for prevention of
chronic traumatic encephalopathy. In one embodiment of the
invention, disclosed is utilization of pterostilbene and/or
pterostilbene based compounds for prevention and/or treatment of
chronic traumatic encephalopathy. In one embodiment, the invention
teaches administration of pterostilbene and/or pterostilbene based
compounds for reduction of taupathy associated with chronic
traumatic encephalopathy.
On
August 13, 2018, the Company filed a patent application
titled “Enhancement of Ozone Therapy using Pterostilbene”
that disclosed methods, means and compositions of matter using
pterostilbene for enhancing therapeutic efficacy of ozone therapy
in the field of oncology. The invention provides previously unknown
synergies between ozone administration together with pterostilbene
at inducing direct and indirect cytotoxicity to cancer cells. The
invention provides means of delivery, administration, and
therapeutic protocols for treatment of cancer patients. In one
embodiment combination of ozone therapy together with pterostilbene
is utilized to overcome drug resistance.
On
October 08, 2017, the Company filed a patent application
titled “Synergistic Inhibition of Glioma Using Pterostilbene and
Analogues Thereof” that teaches methods, means and compositions
of matter for utilizing pterostilbene and analogues thereof for
suppression of viability, metastasis and proliferation of glioma
cells alone, or together with immunotherapy, chemotherapy, or
radiotherapy means. In one embodiment said pterostilbene augments
immunogenicity of glioblastoma cells so as to enhance killing by
immune cells or complement subsequent to damage of said
glioblastoma cells by chemotherapy, radiotherapy, or
immunotherapy.
On
April 26, 2017, the Company filed a patent application
titled “Augmentation of Stem Cell Activity using Pterostilbene
and Compositions Containing Pterostilbene” that disclosed means
of augmenting circulating endogenous stem cells through
administration of an effective amount of pterostilbene or
derivatives thereof. In one embodiment a patient with reduced
levels of circulating endothelial progenitor cells is treated with
pterostilbene at a concentration and frequency sufficient to
restore, and/or enhance levels of circulating endothelial
progenitor cells (EPC). In another embodiment endogenous levels of
stem cells are restored or enhanced by administration of
pterostilbene, said endogenous stem cells comprising cells of the
dentate gyrus, subventricular zone, hepatic stem cells, cardiac
stem cells, and hematopoietic stem cells.
On
March 29, 2017, the Company filed a patent application
titled “Stimulation of Immunity to Tumor Stem Cell Specific
Proteins by Peptide Immunization” that discloses treatment of
cancer is disclosed through administration of proteins or specific
peptides found on tumor stem cells in vivo, in a matter eliciting
monocyte or dendritic cell migration in order to allow uptake of
said administrated proteins or peptides, followed by administration
of a maturation signal in vivo. The invention provides for
treatment of cancer through induction of anticancer immunity and/or
immunity towards tumor initiating stem cells.
On
March 29, 2017, the Company filed a patent application
titled “Targeting the Tumor Microenvironment through
Nutraceutical Based Immunoadjuvants” that disclosed
compositions useful for the treatment of cancer which modulate
tumor associated immunosuppression, thus acting as immunoadjuvants.
In one embodiment a composition containing apigenin, is provided,
said composition useful for inhibition of tumor associated immune
suppression mediated through the molecule indolamine 2,3
deoxygenase (IDO). In another embodiment, liposomal apigenin is
administered as a means of decreasing IDO expression.
On
March 29, 2017, the Company filed a patent application
titled “Activated Leukocyte Extract for Repair of Innate
Immunity in Cancer Patients” that disclosed are compositions,
methods of use, and pharmaceutical preparations useful for
modulation of immune responses. In one embodiment a composition is
extracted polyvalently activated peripheral blood mononuclear cells
through dialysis. Said immune modulator is useful for treatment of
cancer and alleviation of cancer associated immune depression. In
one embodiment, said immunomodulator acts as a costimulatory of T
cell activation by modulation of cytokine production. In one
embodiment said immune modulator is concentrated for miRNA species
capable of activating innate immune cells.
On
March 29, 2017, the Company filed a patent application
titled “Augmentation of Anti-Tumor Immunity by Mifepristone and
Analogues Thereof” which relates to compositions of matter and
methods useful for improving a treatment outcome and/or an
alteration of immunity in a condition that benefits from immune
stimulation. In particular, one embodiment of the invention teaches
administration of sufficient doses of mifepristone or a derivative,
alone, or in combination with an immunotherapeutic such as, but not
limited to, an antibody, a vaccine, a cytokine, or a medicament
whose therapeutic activity is associated with immune
modulation.
On
March 29, 2017, the Company filed a patent application
titled “Methods of Re-Activating Dormant Memory Cells with
Anticancer Activity” that disclosed methods, protocols, and
compositions of matter useful for stimulation of anticancer immune
responses. In one embodiment of the invention culture of buffy coat
cells is performed in an environment resembling non-physiological
conditions. Buffy coat derived products are subsequently harvested,
concentrated, and added to a culture of monocytes and lymphocytes.
Conditioned media from said second culture is subsequently utilized
as an injectable solution for stimulation of anticancer
immunity.
On
March 29, 2017, the Company filed a patent application
titled “Modulation of Oral Microbiome for Treatment of
Periodontitis” that disclosed methods, means, and compositions
of matter useful for inhibition of, reduction in progression and
reversion of periodontitis. In one embodiment the invention
provides prebiotic and/or probiotic compositions which modulation
the oral microbiome in order to ameliorate, prevent or reverse
periodontitis. In one embodiment a composition is administered into
the oral cavity containing Actinomyces naeslundii, Actinomyces
odontolyticus, Streptococcus thermophilius, Lactobaccilus brevis
and Lactobacilius plantarum. Administration may be performed using
various means including a mouthwash, a patch, a toothpaste, or in a
preferred embodiment said prebiotic and/or probiotic compositions
are delivered via a mouth tray.
On
July 20, 2016, the Company filed a patent application titled
“Prevention of Pregnancy Complications by Probiotic
Administration” which disclosed methods, protocols and
compositions of matter for the treatment of pregnancy complications
through immune modulation of a mammal in need. In one embodiment
the invention provides probiotic compositions for immune modulation
to decrease risk of pregnancy complications. Pregnancy
complications include recurrent spontaneous abortions (RSA),
preterm birth, pre-eclampsia including hemolysis elevated liver
enzymes low platelets (HELP), premature rupture of the membrane,
Antepartum hemorrhage including placental abruption,
chorioamnionitis, Intrauterine growth restriction, placenta
pravaevia, sequalae of intraamniotic infection. Published on
January 26, 2017.
On
July 20, 2016, the Company filed a patent application titled
“Exosome Mediated Innate and Adaptive Immune Stimulation for
Treatment of Cancer” that teaches means of stimulating innate
and/or adaptive immunity to cancer by administration of exosomes.
Stimulation of innate immunity involves modifying exosomes by
chemical addition of innate immune stimulators, whereas stimulation
of adaptive immunity involves pulsing dendritic cells generating
exosomes with antigens, in some cases, pulsing with Brother of the
Regulator of Imprinted Sites (BORIS) proteins, peptides, or altered
peptide ligands thereof.
On
July 8, 2015, the Company filed a patent application titled
“Augmentation of Oncology Immunotherapies by Pterostilbene
Containing Compositions” that disclosed compositions of matter
and methods useful to augmentation of immune responses to tumors.
In one embodiment, a pterostilbene containing composition is
administered to a cancer patient at a sufficient concentration and
frequency to induce de-repression of tumor targeting immune
responses. In one specific embodiment of the present invention,
pterostilbene enhances antibody dependent cellular toxicity (ADCC)
and in turn augments efficacy of FDA approved antigen specific
immunotherapeutics such as trastuzumab (Herceptin) and other
monoclonal antibody therapies used for treating cancer.
Issued and Granted Patents:
On
June 20, 2017, the US Patent and Trademark Office issued and
granted U.S. Patent No.: 9,682,047 titled “Augmentation
of oncology immunotherapies by pterostilbene containing
compositions” that discloses compositions and methods useful to
enhancing, improving, or eliciting anti-tumor immune responses are
disclosed. A pterostilbene containing composition is administered
to a cancer patient at a sufficient concentration and frequency to
induce de-repression of tumor targeting immune responses. The
composition enhances antibody dependent cellular toxicity (ADCC)
and augments efficacy of antigen specific immunotherapeutics such
as trastuzumab and other monoclonal antibody therapies useful for
treating cancer. See: https://patents.justia.com/patent/9682047.
On
January 25, 2022, the US Patent and Trademark Office issued
and granted U.S. Patent No.: 11,229,674 titled
“Nutraceuticals for suppressing indolamine 2,3 deoxygenase”
which disclosed are compositions of matter, treatments and
protocols useful for reduction of expression and/or activity of
indolamine 2,3 deoxygenase (IDO). In some embodiments the invention
teaches the administration of a therapeutic combination of
ingredients comprising of pterostilbene, Nigella sativa,
sulforaphane, and epigallocatechin-3-gallate (EGCG) to a mammal at
possessing an increased expression and/or activity of said IDO in
which reduction of number and/or activity is desired. In another
embodiment, the invention teaches administration of said
therapeutic combination to a mammal infected with viral and/or
bacterial infections and/or neoplasia. In some embodiments dosage
of said therapeutic combination is based on inflammatory and/or
immunological parameters observed in patients.
On
March 08, 2022, the US Patent and Trademark Office issued
and granted U.S. Patent No.: 11,266,707 titled
“Nutraceuticals for the prevention, inhibition, and treatment of
SARS-CoV-2 and associated COVID-19” that disclosed methods of
treating or preventing complications associated with a SARS-CoV-2
infection, comprising: administration of a combination comprising:
a) Green Tea and/or extract thereof; b) Blueberry and/or extract
thereof; c) Nigella sativa and/or extract thereof; and d) broccoli
and/or extract thereof in an amount and frequency sufficient to
treat or prevent complications associated with said SARS-CoV-2
infection.
On
November 23, 2022, the US Patent and Trademark Office issued
and granted U.S. Patent No.: 11,504,410 titled
“Neuroprotection and Neuroregeneration by Pterostilbene and
Compositions Thereof” with new data demonstrating that the
blueberry derived compound pterostilbene possesses numerous brain
protective and potentially brain regenerative activities. The data
disclosed by the Company indicates: a) pterostilbene suppresses
inflammatory cytokines TNF-alpha, IL-1 beta and IL-6; b)
pterostilbene inhibits death of neurons caused by inflammatory
mediators; c) pterostilbene stimulates production of regenerative
factors from cells in the brain such as BDNF, NGF, FGF-1, and
FGF-2; and d) pterostilbene allows/enhances proliferation of
endogenous brain stem cells.
*The
data provided here is partial and does not contain all materials
submitted for publication and is preliminary until peer review is
complete. These statements have not been evaluated by the Food and
Drug Administration. These products are not intended to diagnose,
treat, cure, or prevent any disease.
Chronic Traumatic
Encephalopathy (CTE), and Traumatic Brain Injury (TBI)
– Right To Try
On December 10, 2018, Therapeutic Solutions International, Inc.,
announced the signing of an agreement between TSOI and Jadi Cell
LLC for licensing of the Jadi Cell universal donor adult stem cell,
as covered in US Patent No.: 9,803,176 B2 for use in Chronic
Traumatic Encephalopathy (CTE), and Traumatic Brain Injury
(TBI).
In addition, on February 9, 2021, we obtained exclusive rights
under the same for use of US Patent No.: 9,803,176 B2 in the
treatment of acute respiratory distress syndrome (ARDS) and other
lung pathologies. The JadiCell was reported in a publication from
the University of Miami following a Phase 1/2 clinical trial,
demonstrating intravenous administration of JadiCells, resulted in
a significant survival improvement in COVID-19 patients. The Phase
1/2 double blind, placebo-controlled trial treated 12 advanced
COVID-19 patients with 100 million JadiCells™ intravenously at days
0 and 3, and 12 patients received placebo control. At 28 days 91%
of JadiCell treated patients survived whereas only 42% of patients
in the placebo group survived. There were no adverse effects
associated with JadiCell administration. For those treated with the
JadiCell under the age of 85 the survival rate was 100% and in
those over 85 the survival rate was 91% making the JadiCell the
most effective therapy to date in the entire world to treat
ARDS.
The
JadiCell product, which belongs to the mesenchymal stem cell (MSC)
family of cells, is a unique adult stem cell, which produces higher
levels of therapeutic factors compared to other stem cells. The
cells have demonstrated safety in animal models and pilot human
trials. The Jadi Cell product is generated from umbilical cords,
which are a source of medical waste and available in large
quantities at inexpensive prices.
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.
Traumatic
brain injury (TBI) is an insult to the brain, not of a degenerative
or congenital nature, but caused by external physical force that
may produce a diminished or altered state of consciousness, which
results in an impairment of cognitive abilities or physical
functioning.
CTE
represents a significant unmet medical need which we believe is
amenable to stem cell intervention. We are eager to accelerate
treatments and potential cures for debilitating conditions such as
CTE and traumatic brain injury and plan to leverage New regulatory
pathways such as the recently approved “Right to Try” Law to
deliver these medicines as soon as possible to patients which
currently have no other options.
The
JadiCell product because of its advanced stage of development in
contrast to other stem cell types, which require years, if not
decades of development before entry into American patients, will
allow us we believe to be treating patients within 12 months.
Currently means of isolating, producing, scaling up, and delivery
of the cells has all been worked out by Jadi Cell and
Collaborators.
On December 17, 2020, the Company filed an Investigational New Drug
(IND) application seeking permission from the Food and Drug
Administration (FDA) to initiate a Phase I/II clinical trial
assessing safety and signals of efficacy for treatment of Chronic
Traumatic Encephalopathy (CTE) patients with JadiCells™.
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, 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%. 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.
Schizophrenia/Suicide Clinical Programs
On
October 29, 2020, the Company announced publication on the NIH
clinical trials website of its newly initiated trial aiming to
validate a blood-based diagnostic for predicting suicide risk and
is listed as NCT04606875.
The
Campbell Score™, which is a patent-pending method of quantifying
inflammatory-associated biological markers, has previously been
shown in pilot investigator-initiated studies to correlate with
propensity for suicide. Based on positive feedback from
collaborators, the Company decided to initiate a formal clinical
trial to validate correlations between the Campbell Score™ and
established psychiatric assessment tools of suicidal propensity.
Currently the only means of quantifying predisposition to suicide
is based on psychological, question-based techniques.
On
December 31, 2020, the Company signed license agreements with
Campbell Neurosciences Inc., a partially owned company, for access
to the 9 patents filed related to the previous Campbell
Neurosciences Division. The patents are:
|
1. |
63/128759
Immunotherapy for Opioid Addiction |
|
2. |
63/122862
Treatment of Major Depressive Disorder and Suicidal Ideations
Through Stimulation of Hippocampal Neurogenesis Utilizing
Plant-Based Approaches |
|
3. |
63/105964
Protection/Regeneration of Neurological Function by Endothelial
Protection/Rejuvenation using Stem Cells for Treatment of
Conditions such as Chronic Traumatic Encephalopathy and
Schizophrenia |
|
4. |
17/030416
Personalized Immunotherapies for Reduction of Brain Inflammation
and Suicide Prevention |
|
5. |
63/077723
Immunotherapy of Schizophrenia and Schizophrenia Associated
Suicidal Ideation/Suicide |
|
6. |
63/071381
Upregulation of Therapeutic T Regulatory Cells and Suppression of
Suicidal Ideations in Response to Inflammation by Administration of
Nutraceutical Compositions Alone or Combined with
Minocycline |
|
7. |
63/068388
Methods of Determining Risk of Suicide and/or Suicidal Ideation by
Immunological Assessment |
|
8. |
63/061202
Prevention of Neuroinflammation associated Memory Loss Using
Nutraceutical Compositions |
|
9. |
63/057315
Neuroprotection and Neuroregeneration by Pterostilbene and
Compositions Thereof |
Additionally,
Campbell Neurosciences Inc. has entered into purchase agreements
with Therapeutic Solutions International ensuring a continued
supply, at a discounted rate, of nutraceuticals which are being
explored for antiinflammation/suicide prevention
activity.
Treatment of Chronic Obstructive Pulmonary Disease (COPD) Using
JadiCell™ Universal Donor Adult Stem Cells
On
October 7, 2022, the Company formed Breathe Biologics, Inc. and
licensed to them a patent application titled “Umbilical Cord
Mesenchymal Stem Cells for Treatment of Chronic Obstructive
Pulmonary Disease and Lung Degeneration” that discloses means of
treating lung degenerative diseases including chronic obstructive
pulmonary disease (CODP) using umbilical cord mesenchymal stem
cells such as JadiCells.
In
addition, the Company has transferred ownership of the filed
investigational drug application titled “JadiCell Therapy for COPD”
to determine safety and efficacy of intravenously administered
allogeneic JadiCell umbilical cord blood mesenchymal stem cells in
patients with moderate-to-severe COPD. The Primary Endpoint, which
is toxicity, will be assessed by number of adverse events (AEs).
The Secondary Endpoint, which is efficacy will be evaluated at
baseline and days 30, 60, and 90.
COPD
is a consistently progressive, ultimately fatal disease for which
no treatment exists capable of either reversing or even
interrupting its course. It afflicts more than 5% of the population
in many countries, and it accordingly represents the third most
frequent cause of death in the U.S., where it accounts for more
than 600 billion in health care costs, morbidity, and
mortality.
COPD
possesses several features making it ideal for stem cell-based
interventions: a) the quality of life and lack of progress demands
the ethical exploration of novel approaches. For example, bone
marrow stem cells have been used in over a thousand cardiac
patients with some indication of efficacy. Adipose-based stem cell
therapies have been successfully used in thousands of race-horses
and companion animals without adverse effects, as well as numerous
clinical trials are ongoing and published human data reports no
adverse effects.
Mesenchymal
Stem Cells (MSCs) are potent immunomodulatory cells that recognize
sites of injury, limit effector T cell reactions, and stimulate
regulatory cell populations (i.e., T-regs) via growth factors,
cytokines, and other mediators. Simultaneously, MSCs also stimulate
local tissue regeneration via paracrine effects inducing
angiogenic, anti-fibrotic and remodeling responses. Consequently,
MSCs-based therapy represents a viable treatment option for
autoimmune conditions and other inflammatory disorders, yielding
beneficial effects in models of autoimmune Type 1 Diabetes,
Systemic Lupus Erythematosus, Autoimmune Encephalomyelitis,
Multiple Sclerosis, cardiac insufficiency, and organ
transplantation. MSCs have been reported to inhibit inflammation
and fibrosis in the lungs, have shown safety in clinical trials for
ARDS, and have been recently suggested as useful to treat patients
with severe COVID-19 based on their effects preventing or
attenuating the immunopathogenic cytokine storm.
Unfortunately,
evaluation of stem cell therapy in COPD has lagged behind other
areas of regenerative investigation; b) the underlying cause of
COPD appears to be inflammatory and/or immunologically mediated.
The destruction of alveolar tissue is associated with T cell
reactivity, pathological pulmonary macrophage activation, and
auto-antibody production. Mesenchymal stem cells have been
demonstrated to potently suppress autoreactive T cells, inhibit
macrophage activation, and autoantibody responses. Additionally,
mesenchymal stem cells can be purified in high concentrations from
adipose stromal vascular tissue together with high concentrations
of T regulatory cells, which in animal models are approximately 100
times more potent than peripheral T cells at secreting cytokines
therapeutic for COPD such as IL-10. Additionally, use of adipose
derived cells has yielded promising clinical results in autoimmune
conditions such as multiple sclerosis; and c) Pulmonary stem cells
capable of regenerating damaged parenchymal tissue have been
reported. Administration of mesenchymal stem cells into neonatal
oxygen-damaged lungs, which results in COPD-like alveoli dysplasia,
has been demonstrated to yield improvements in two recent
publications.
Based
on the above rationale for stem cell-based COPD treatments, we are
proposing a 10 patient Phase I safety trial to assess ability of
JadiCell, a type of umbilical cord derived stem cells to improve
objective and quality of life parameters in patients with moderate
to severe COPD.
MSCs
can be derived in large number from the Umbilical Cord (UC).
JadiCells are a type of UC-MSCs, which can be utilized in the
allogeneic setting and have demonstrated safety and efficacy in
clinical trials for a number of disease conditions including
inflammatory and immune-based diseases. UC-MSCs have been shown to
inhibit inflammation and fibrosis in the lungs.
JadiCell
UC-MSCs have been utilized to treat patients with severe COVID-19
and have yielded promising results, preventing, or attenuating the
cytokine storm. JadiCells have been recently introduced
intravenously in patients with a neurodegenerative disorder and
have been approved for testing in patients with Type 1 Diabetes
(T1D). We hypothesize that JadiCells will exert beneficial
therapeutic effects in COPD.
Breast Cancer Immunotherapy
Recently
the Company announced the formation of a Spin-Off Company, Res Nova
Bio, Inc., dedicated to the development of cancer inhibiting
anti-angiogenesis immunotherapies. Res Nova Bio has licensed from
Therapeutic Solutions International intellectual property covering
StemVacs-V which is our iPSC derived platform technology announced
in May of 2021. The technology utilizes pluripotent stem cells
called iPSCs in order to generate new cells which resemble tumor
blood vessels that are made to act as a “therapeutic vaccine”.
Specifically, the administration of StemVacs-V stimulates the
immune system to selectively kill blood vessels that feed the tumor
but not healthy blood vessels. It is believed that for every 1
tumor blood vessel cell that is killed, 200-300 tumor cells are
also killed as a result.
In addition to the license, the Company has transferred ownership
of the IND titled “Treatment of Metastatic Breast Cancer by
StemVacs-V Cancer Immunotherapeutic” to Res Nova Bio with the
primary objective being safety and feasibility of StemVacs-V
administration at 12 months as assessed by lack of adverse medical
events. The secondary objective is efficacy as judged by tumor
response, time to progression, and immunological monitoring.
Cellular Manufacturing and Cell Banking
On
October 18, 2021, the Company announced the formation of Allogen
Biologics Inc, a wholly owned subsidiary of TSOI. Allogen Biologics
will house intellectual property and Standard Operating Procedures
related to generation of the Company’s existing and anticipated
cellular therapeutics. In addition, Allogen will house and maintain
all relevant cell banks.
On
May 10, 2022, Allogen Biologic, Inc, and Therapeutic Solutions
International Inc, entered into an Exclusive Patent License
Agreement (EPLA) for Patent Application Serial No. 63/254,469,
filed by Licensor and titled as: Umbilical Cord Derived
Regenerative and Immune Modulatory Stem Cell
Populations.
RISK FACTORS
Risks
Associated with Our Business and Industry
This
prospectus contains forward-looking statements concerning our
future programs and cash needs as well as our plans and strategies.
These forward-looking statements are based on current expectations,
and we assume no obligation to update this information, except as
required by applicable laws and regulations. Numerous factors could
cause actual results to differ significantly from the results
described in these forward-looking statements, including the
following risk factors.
We have identified
material weaknesses in our internal control over financial
reporting.
We
are required to comply with the provisions of Section 404 of the
Sarbanes-Oxley Act of 2002, which require us to maintain an ongoing
evaluation and integration of the internal controls of our
business.
There were no changes in our internal control over financial
reporting that occurred during our fiscal quarter ending September
30, 2022 that materially affected, or are reasonable likely to
materially affect, our internal control over financial
reporting.
Our
management, including the Chief Executive Officer assessed the
effectiveness of our internal control over financial reporting as
of September 30, 2022. In making our assessment, we used the
framework and criteria set forth by the Committee of Sponsoring
Organizations of the Treadway Commission (“COSO”) (2013). Based on
that assessment, our management has identified certain material
weaknesses in our internal control over financial reporting. Our
management concluded that as of September 30, 2022, our internal
control over financial reporting was not effective, and that
material weaknesses existed in the following areas as of September
30, 2022.
(1)
we do not employ full time in-house personnel with the technical
knowledge to identify and address some of the reporting issues
surrounding certain complex or non-routine transactions. With
respect to material, complex and non-routine transactions,
management has and will continue to seek guidance from third-party
experts and/or consultants to gain a thorough understanding of
these transactions;
(2)
we have inadequate segregation of duties consistent with the
control objectives including but not limited to the disbursement
process, transaction or account changes, and the performance of
account reconciliations and approval;
(3)
we have ineffective controls over the period end financial
disclosure and reporting process caused by insufficient accounting
staff.
Under
Section 404 and the SEC’s rules, a company cannot find that its
internal control over financial reporting is effective if any
“material weaknesses” exist in its controls over financial
reporting.
Our liquidity and capital
resources are very limited.
Our
ability to fund operating activities is also dependent upon our
ability to access external sources of financing and our ability to
effectively manage our expenses in relation to revenues. Our
ability to fund working capital and anticipated capital
expenditures will depend on our future performance, which is
subject to general economic conditions specific to the health,
supplements and nutrition products industries, consumer demand for
our products, competition and other factors that are beyond our
control. There can be no assurance that our operations and access
to external sources of financing will continue to provide resources
sufficient to satisfy our liabilities arising in the ordinary
course of business.
We will require
significant additional external financing to implement our business
plan.
We
will require external financing to sustain our operations, support
our expansion, achieve or maintain profitability, or, should we
become subject to unforeseen events or circumstances, continue as a
going concern. There can be no assurance that we will be able to
secure any such external financing, or, if we are able to secure
such external financing, that it will be on terms favorable, or
even acceptable, to us. Any inability to achieve or sustain
profitability or otherwise secure external financing would have a
material adverse effect on our business, financial condition, and
results of operations, raising substantial doubts as to our ability
to continue as a going concern, and we may ultimately be forced to
seek protection from creditors under the bankruptcy laws or cease
operations, which may result in a substantial or complete loss of
your invested capital.
We may not be able to
effectively manage our potential growth and the execution of our
business plan.
Our
potential growth and the execution of our business plan together
are likely to place significant strain on our managerial,
operational and financial resources. To effectively manage our
potential growth and execute our business plan, we will need to,
among other things:
|
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retain
additional personnel across several departments in the
Company; |
|
● |
develop
strong customer loyalty for new products in a crowded competitive
marketplace; |
|
● |
continue
to establish and continue to increase awareness of our
brands; |
|
● |
price
our products and services at points which will allow us to maximize
sales while at the same time maximizing gross profit
margins; |
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● |
establish,
maintain, expand and manage multiple relationships with various
vendors, strategic partners, licensees and other third parties,
including suppliers of the products we sell on our website and
elsewhere, warehousing distributors, shipping companies and
others; |
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● |
rapidly
respond to competitive developments, particularly when new
high-demand products become available; |
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● |
build
an operations structure to support our business and provide
efficient and effective customer service and support; |
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● |
expand
our IT infrastructure to respond to increasing customer traffic to
our website, demand for content from site users and to manage
growing e-commerce transactions; |
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● |
establish
and maintain effective financial and management controls, reporting
systems and procedures; |
|
● |
provide
competitive employee salaries and benefit packages;
and, |
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● |
avoid
lawsuits and other adverse claims. |
There
can be no assurance that we will be able to accomplish any or all
of the above goals. If we prove unable to effectively execute our
business plan or manage our growth, it is likely to have a material
adverse effect on our business, financial condition, including
liquidity and profitability, and our results of
operations.
If our proposed product
sales model does not successfully operate at a profit our growth
strategy may be impeded.
To
effectively expand and meet our growth objectives our products
sales model must be executed upon in a profitable manner.
Profitability is dependent upon a variety of factors, some beyond
our control, including, but not limited to the amount of traffic we
can consistently attract to our brand, to retail sales in “brick
and mortar” retailers, to our website, and our ability to stock or
otherwise make available products that our customers purchase, our
ability to stock or otherwise make available the best new products
as they enter the market, our ability to provide consistent and
superior customer service, the general economic conditions,
particularly in the U.S., that could impact the amount of money
customers spend collectively on the products we sell, and/or that
could reduce the amount of money our average customer spends,
and/or could reduce the number or frequency of repeat orders for
products, and/or could result in customers finding products in
other venues if they can find those products for a lower price.
Other factors that could impact our ability to execute on our
business model in a profitable manner include, but are not limited
to, competition in our markets, recruiting, training and retaining
qualified personnel and management, maintenance of required local,
state and federal governmental approvals and permits, costs
associated with principal component products and supplies, delivery
shortages or interruptions, consumer trends, our ability to finance
operations externally, changes in supply or prices of the products
we sell and disruptions or business failures among our product
suppliers, distributors, warehouses or shippers. Any failure to
operate in a profitable manner could hurt our ability to meet our
growth objectives by attracting licensees, and our business,
financial condition, including liquidity and profitability, and our
results of operations would be negatively affected.
If we cannot stock,
warehouse or otherwise provide product to customers in a
consistent, reliable and cost-effective manner our growth strategy
may be impeded.
As
our growth strategy depends to a large extent on our ability to
sell various products to consumers on our website and in
traditional “brick and mortar” retailers, if we cannot supply those
products in a consistent, reliable and cost-effective manner, we
may lose customers. To accomplish a consistent, reliable and
cost-effective method for supplying product to customers, we must
successfully engage with suppliers at a number of levels, including
warehousing agreements, stocking agreements and other forms of
distribution. Our ability to conclude such arrangements with
specific product suppliers may involve the need for trade finance,
purchasing agreement finance and other capital. In addition, we may
encounter problems in fulfilling orders due to business conditions
among the products companies themselves, many of which problems are
beyond our control. If we are unable to establish and continue such
agreements and structures with products companies, our growth
strategy may be impeded, which could negatively affect our
business, financial condition, including liquidity and
profitability, and our results of operations.
We face significant
competition for our products.
The
markets in which we operate are intensely competitive, continually
evolving and, in some cases, subject to rapid change. Our
competitors include:
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● |
traditional
and well-established companies with recognized and well patronized
brands in the nutritional supplements and health products industry
segment; |
|
● |
entrenched
nutritional supplements and health products companies with
well-known customer on-line services and portals and other
high-traffic web sites that provide sales access to healthcare and
nutritional supplements and related products; and |
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● |
companies
that focus on providing on-line and/or off-line healthcare related
content, including some that promote competitor brands. |
Many
of our competitors have greater financial, technical, product
development, marketing and other resources than we do. These
companies may be better known than we are and have more customers
than we do. We cannot provide assurance that we will be able to
compete successfully against these companies or any alliances they
have formed or may form. If we are unable to compete with one or
more of our competitors, our growth strategy may be impeded, which
could negatively affect our business, financial condition,
including liquidity and profitability, and our results of
operations.
Product
revenue.
Although
we intend and continue to develop and introduce new nutraceutical
products, we currently market and sell encapsulated
ProJuvenol®, DermalStilbene, IsoStilbene, and
NeuroStilbene, NanoStilbene®, NanoPlus, Nano
Cannabidiol, NLRP3 Trifecta, and QuadraMune® are all
powerful antioxidants. We currently do not have a broad portfolio
of other products completed that we could rely on to support our
operations if we were to experience any difficulty with the
manufacture, marketing, sale, or distribution of our current
products.
Government regulation
could adversely affect our business.
Our
products and their associated component ingredients are subject to
existing and potential government regulation. Our failure, or the
failure of our business partners or third-party providers, to
accurately anticipate the application of laws and regulations
affecting our products and the manner in which we deliver them, or
any failure to comply, could create liability for us, result in
adverse publicity, or negatively affect our business. In addition,
new laws and regulations, or new interpretations of existing laws
and regulations, may be adopted with respect to consumer protection
and other issues, including pricing, products liability, copyrights
and patents, distribution and characteristics and quality of
products and services. We cannot predict whether these laws or
regulations will change or how such changes will affect our
business. Any of this government regulation could impact our growth
strategy, which could negatively affect our business, financial
condition, including liquidity and profitability, and our results
of operations.
The Company’s success may
depend upon its ability to protect its patents and proprietary
technology.
The
Company owns patents for several of its products and relies upon
the protection afforded by its patents and trade secrets to protect
its technology. The Company’s success may depend upon its ability
to protect its intellectual property. However, the enforcement of
intellectual property rights can be both expensive and time
consuming. Therefore, the Company may not be able to devote the
resources necessary to prevent infringement of its intellectual
property. Also, the Company’s competitors may develop or acquire
substantially similar technologies without infringing the Company’s
patents or trade secrets. For these reasons, the Company cannot be
certain that its patents and proprietary technology will provide it
with a competitive advantage.
Third parties may claim
that we are infringing their intellectual property, and we could
suffer significant litigation or licensing expense or be prevented
from providing certain services, and which may otherwise harm our
business.
We
could be subject to claims that we are misappropriating or
infringing intellectual property, trade secrets or other
proprietary rights of others. These claims, even if not
meritorious, could be expensive to defend and divert management’s
attention from our operations. If we become liable to third parties
for infringing these rights, we could be required to pay
substantial damage awards and to develop non-infringing products,
obtain a license or cease selling the products that use or contain
the infringing intellectual property. We may be unable to develop
non-infringing products or obtain a license on commercially
reasonable terms, or at all. Any claims against our company for
infringement could impede our growth strategy, which could
negatively affect our business, financial condition, including
liquidity and profitability, and our results of
operations.
We may be subject to
claims brought against us as a result of product liability
claims.
The
Company presently does not carry products liability insurance
covering its development, marketing and sale of the products it
intends to sell. However, the Company intends and expects to
acquire adequate and reasonable products liability insurance after
the business is funded. There is no guarantee that the amount of
funds raised by virtue of this offering will be adequate to acquire
or maintain such insurance. Should the Company not acquire adequate
funding to obtain products liability insurance, its uninsured
operations would expose the Company and its shareholders to
material risks should products liability claims arise. Any claims
can be costly to defend, and any successful products liability
claim against the Company could materially impact the ability of
the Company to continue as a going concern and therefore place your
total investment in the Company at risk of being a complete
loss.
We may be subject to
claims brought against us as a result of product associated content
we provide.
Consumers
are reasonably expected to access health-related information
regarding our products through our on-line web site. If our
content, or content we obtain from third parties, contains
inaccuracies, it is possible that consumers or others may sue us
for various causes of action. Although our planned web site
contains terms and conditions, including disclaimers of liability,
that are intended to reduce or eliminate our liability, the law
governing the validity and enforceability of on-line agreements
with consumers that provide the terms and conditions for use of our
public or private portals are unenforceable. A finding by a court
that these agreements are invalid and that we are subject to
liability could harm our business and require costly changes to our
business. We have planned editorial procedures in place to provide
quality control of the information that we publish or provide.
However, we cannot assure you that our editorial and other quality
control procedures will be sufficient to ensure that there are no
errors or omissions in particular content. Even if potential claims
do not result in liability to us, the fact that we would need to
investigate and defend against these claims could be expensive and
time consuming and could divert management’s attention away from
our operations. In addition, our business is in part based on
establishing a reputation amongst consumers that our portals as
trustworthy and dependable sources of healthcare information.
Allegations of impropriety or inaccuracy, even if unfounded, could
therefore harm our reputation and business, which could negatively
affect our business, financial condition, including liquidity and
profitability, and our results of operations.
Changes in commodity and
other operating costs or supply chain and business disruptions
could adversely affect our results of
operations.
Changes
in product costs are a part of our business; any increase in the
prices that suppliers charge for their products could adversely
affect our operating results. We remain susceptible to increases in
prices as a result of factors beyond our control, such as general
economic conditions, seasonal fluctuations, weather conditions,
demand, safety concerns, product recalls, labor disputes and
government regulations. We rely on third-party distribution
companies to deliver ingredients to our manufacturers and
ultimately our products to customers. Interruption of distribution
services due to financial distress or other issues could adversely
affect our operations.
We face substantial
competition in attracting and retaining qualified senior management
and key personnel and may be unable to develop and grow our
business if we cannot attract and retain such senior management and
key personnel.
As an
early-stage company, our ability to develop and grow our business,
to a large extent, depends upon our ability to attract, hire and
retain highly qualified and knowledgeable senior management and key
personnel who possess the skills and experience necessary to
satisfy our business needs. Our ability to attract and retain such
senior management and key personnel will depend on numerous
factors, including our ability to offer salaries, benefits and
professional growth opportunities that are comparable with and
competitive to those offered by more established companies
operating in our marketplace. We may be required to invest
significant time and resources in attracting and retaining
additional senior management and key personnel as needed. Moreover,
many of the companies with which we will compete for any such
individuals have greater financial and other resources, affording
them the ability to undertake more extensive and aggressive hiring
campaigns, than we can. The normal running of our operations may be
interrupted, and our financial condition and results of operations
negatively affected, as a result of any inability on our part to
attract or retain the services of qualified and experienced senior
management and key personnel, or should our prospective key
personnel refuse to serve, or, once appointed, leave prior to a
suitable replacement being found.
Risks
Associated with This Offering and Our Securities
Trading on the OTC Markets
may be volatile and sporadic, which could depress the market price
of our common stock and make it difficult for our stockholders to
resell their shares.
Our
common stock is quoted on OTC Markets. Trading in stock quoted on
OTC Markets is often thin and characterized by wide fluctuations in
trading prices due to many factors that may have little to do with
our operations or business prospects. This volatility could depress
the market price of our common stock for reasons unrelated to
operating performance. Moreover, OTC Markets is not a stock
exchange, and trading of securities on the OTC Markets is often
more sporadic than the trading of securities listed on a quotation
system like NASDAQ or a stock exchange like the American Stock
Exchange. Accordingly, our shareholders may have difficulty
reselling any of their shares.
Our stock is a penny
stock. Trading of our stock may be restricted by the SEC’s penny
stock regulations and FINRA’s sales practice requirements, which
may limit a stockholder’s ability to buy and sell our
stock.
Our
stock is a penny stock. The Securities and Exchange Commission has
adopted Rule 15g-9 which generally defines “penny stock” to be any
equity security that has a market price (as defined) less than
$5.00 per share or an exercise price of less than $5.00 per share,
subject to certain exceptions. Our securities are covered by the
penny stock rules, which impose additional sales practice
requirements on broker-dealers who sell to persons other than
established customers and “accredited investors”. The term
“accredited investor” refers generally to institutions with assets
in excess of $5,000,000 or individuals with a net worth in excess
of $1,000,000 or annual income exceeding $200,000 or $300,000
jointly with their spouse. The penny stock rules require a
broker-dealer, prior to a transaction in a penny stock not
otherwise exempt from the rules, to deliver a standardized risk
disclosure document in a form prepared by the SEC which provides
information about penny stocks and the nature and level of risks in
the penny stock market. The broker-dealer also must provide the
customer with current bid and offer quotations for the penny stock,
the compensation of the broker-dealer and its salesperson in the
transaction and monthly account statements showing the market value
of each penny stock held in the customer’s account. The bid and
offer quotations, and the broker-dealer and salesperson
compensation information, must be given to the customer orally or
in writing prior to effecting the transaction and must be given to
the customer in writing before or with the customer’s confirmation.
In addition, the penny stock rules require that prior to a
transaction in a penny stock not otherwise exempt from these rules,
the broker-dealer must make a special written determination that
the penny stock is a suitable investment for the purchaser and
receive the purchaser’s written agreement to the transaction. These
disclosure requirements may have the effect of reducing the level
of trading activity in the secondary market for the stock that is
subject to these penny stock rules. Consequently, these penny stock
rules may affect the ability of broker-dealers to trade our
securities. We believe the penny stock rules discourage investor
interest in, and limit the marketability of, our common
stock.
FINRA sales practice
requirements may also limit a stockholder’s ability to buy and sell
our stock.
In
addition to the “penny stock” rules promulgated by the Securities
and Exchange Commission (see above for a discussion of penny stock
rules), FINRA rules require that in recommending an investment to a
customer, a broker-dealer must have reasonable grounds for
believing that the investment is suitable for that customer. Prior
to recommending speculative low-priced securities to their
non-institutional customers, broker-dealers must make reasonable
efforts to obtain information about the customer’s financial
status, tax status, investment objectives and other information.
Under interpretations of these rules, FINRA believes that there is
a high probability that speculative low-priced securities will not
be suitable for at least some customers. FINRA requirements make it
more difficult for broker-dealers to recommend that their customers
buy our common stock, which may limit your ability to buy and sell
our stock and have an adverse effect on the market for our
shares.
Our management will have
substantial discretion over the use of proceeds of this Offering
and may not apply them effectively.
Our
management will have significant flexibility in applying the net
proceeds of this Offering and may apply the proceeds in ways with
which you do not agree. The failure of our management to apply
these funds effectively could have a material adverse effect on our
business and our results of operations. The proposed allocation of
the net proceeds of this Offering represents our management’s best
estimate of the expected use of funds to finance our activities in
accordance with our management’s current objectives and overall
market conditions. See “Estimated Use of
Proceeds”.
Our existing stockholders
may experience significant dilution from the sale of our common
stock pursuant to the GHS securities Purchase
Agreement.
The
sale of our common stock to GHS Investments LLC in accordance with
the securities Purchase Agreement may have a dilutive impact on our
shareholders. As a result, the market price of our common stock
could decline. In addition, the lower our stock price is at the
time we exercise our put options, the more shares of our common
stock we will have to issue to GHS in order to exercise a put under
the Purchase Agreement. If our stock price decreases, then our
existing shareholders would experience greater dilution for any
given dollar amount raised through the offering.
The perceived risk of
dilution may cause our stockholders to sell their shares, which may
cause a decline in the price of our common
stock.
Moreover,
the perceived risk of dilution and the resulting downward pressure
on our stock price could encourage investors to engage in short
sales of our common stock. By increasing the number of shares
offered for sale, material amounts of short selling could further
contribute to progressive price declines in our common
stock.
The issuance of shares
pursuant to the GHS Financing Agreement may have a significant
dilutive effect.
Depending
on the number of shares we issue pursuant to the GHS securities
Purchase Agreement, it could have a significant dilutive effect
upon our existing shareholders. Although the number of shares that
we may issue pursuant to the securities Purchase Agreement will
vary based on our stock price (the higher our stock price, the less
shares we have to issue), there may be a potential dilutive effect
to our shareholders, based on different potential future stock
prices, if the full amount of the Financing Agreement is realized.
Dilution is based upon common stock put to GHS and the stock price
discounted to GHS’s purchase price of 80% of the lowest trading
price during the pricing period.
GHS Investments LLC will
pay less than the then-prevailing market price of our common stock
which could cause the price of our common stock to
decline.
Our
common stock to be issued under the GHS securities Purchase
Agreement will be purchased at a twenty percent (20%) discount, or
eighty percent (80%) of the lowest trading price during the ten
(10) consecutive trading days immediately preceding our notice to
GHS of our election to exercise our “put” right. GHS has a
financial incentive to sell our shares immediately upon receiving
them to realize the profit between the discounted price and the
market price. If GHS sells our shares, the price of our common
stock may decrease. If our stock price decreases, GHS may have
further incentive to sell such shares. Accordingly, the discounted
sales price in the Financing Agreement may cause the price of our
common stock to decline.
We may not have access to
the full amount under the Financing
Agreement.
Due
to the floating offering price, we are not able to determine the
exact number of shares that we will issue under the securities
Purchase Agreement.
Our ability to draw down funds and sell shares under the securities
Purchase Agreement with GHS requires that the registration
statement of which this prospectus forms a part to be declared
effective and continue to be effective. The registration statement
of which this prospectus forms a part registers the resale of
555,000,000 shares issuable under the securities Purchase Agreement
with GHS, and our ability to sell any remaining shares issuable
under the investment with GHS is subject to our ability to prepare
and file one or more additional registration statements registering
the resale of these shares. These registration statements may be
subject to review and comment by the staff of the Securities and
Exchange Commission and will require the consent of our independent
registered public accounting firm. Therefore, the timing of
effectiveness of these registration statements cannot be assured.
The effectiveness of these registration statements is a condition
precedent to our ability to sell all of the shares of our common
stock to GHS under the Financing Agreement. Even if we are
successful in causing one or more registration statements
registering the resale of some or all of the shares issuable under
the Financing agreement with GHS to be declared effective by the
Securities and Exchange Commission in a timely manner, we may not
be able to sell the shares unless certain other conditions are met.
For example, we might have to increase the number of our authorized
shares in order to issue the shares to GHS. Increasing the number
of our authorized shares will require board and stockholder
approval. Accordingly, because our ability to draw down any amounts
under the securities Purchase Agreement with GHS is subject to a
number of conditions, there is no guarantee that we will be able to
draw down any portion or all of the proceeds of $10,000,000 under
the equity finance agreement with GHS.
Unless an active trading
market develops for our securities, investors may not be able to
sell their shares.
We
are a reporting company, and our common shares are quoted on OTC
Markets (OTC Pink) under the symbol “TSOI”. However, there is a
very limited active trading market for our common stock; and an
active trading market may never develop or, if it does develop, may
not be maintained. Failure to develop or maintain an active trading
market will have a generally negative effect on the price of our
common stock, and you may be unable to sell your common stock, or
any attempted sale of such common stock may have the effect of
lowering the market price, and therefore, your investment may be
partially or completely lost.
Since our common stock is
thinly traded it is more susceptible to extreme rises or declines
in price, and you may not be able to sell your shares at or above
the price paid.
Since
our common stock is thinly traded its trading price is likely to be
highly volatile and could be subject to extreme fluctuations in
response to various factors, many of which are beyond our control,
including (but not necessarily limited to):
● |
the
trading volume of our shares; |
● |
the
number of securities analysts, market-makers and brokers following
our common stock; |
● |
new
products or services introduced or announced by us or our
competitors; |
● |
actual
or anticipated variations in quarterly operating
results; |
● |
conditions
or trends in our business industries; |
● |
announcements
by us of significant contracts, acquisitions, strategic
partnerships, joint ventures or capital commitments; |
● |
additions
or departures of key personnel; |
● |
sales
of our common stock; and |
● |
general
stock market price and volume fluctuations of publicly-traded, and
particularly microcap, companies. |
Investors may have
difficulty reselling shares of our common stock, either at or above
the price they paid for our stock, or even at fair market
value.
The
stock markets often experience significant price and volume changes
that are not related to the operating performance of individual
companies, and because our common stock is thinly traded it is
particularly susceptible to such changes. These broad market
changes may cause the market price of our common stock to decline
regardless of how well we perform as a company. In addition, there
is a history of securities class action litigation following
periods of volatility in the market price of a company’s
securities. Although there is no such litigation currently pending
or threatened against us, such a suit against us could result in
the incursion of substantial legal fees, potential liabilities and
the diversion of management’s attention and resources from our
business. Moreover, and as noted below, our shares are currently
traded on the OTC Link (OTC Pink tier) and, further, are subject to
the penny stock regulations. Price fluctuations in such shares are
particularly volatile and subject to potential manipulation by
market-makers, short-sellers and option traders.
There is currently no
liquid trading market for our common stock and we cannot ensure
that one will ever develop or be
sustained.
The
trading market for our common stock is currently not liquid. We
cannot predict how liquid the market for our common stock might
become. Our common stock is quoted in OTC Markets under the symbol
“TSOI.”
The elimination of
monetary liability against our directors and officers under Nevada
law, and the existence of indemnification rights to our directors,
officers and employees, may result in substantial expenditures by
the Company.
Pursuant
to Nevada Revised Statutes Section 7502, a Nevada corporation may
indemnify any person who was or is a party or is threatened to be
made a party to any threatened, pending or completed action, suit
or proceeding, whether civil, criminal, administrative or
investigative, except an action by or in the right of the
corporation, by reason of the fact that he is or was a director,
officer, employee or agent of the corporation, or is or was serving
at the request of the corporation as a director, officer, employee
or agent of another corporation, partnership, joint venture, trust
or other enterprise, against expenses, including attorneys’ fees,
judgments, fines and amounts paid in settlement actually and
reasonably incurred by him in connection with the action, suit or
proceeding if he:
(a)
Is not liable pursuant to NRS 78.138; or
(b)
Acted in good faith and in a manner which he reasonably believed to
be in or not opposed to the best interests of the corporation, and,
with respect to any criminal action or proceeding, had no
reasonable cause to believe his conduct was unlawful. The
termination of any action, suit or proceeding by judgment, order,
settlement, conviction or upon a plea of nolo contendere or its
equivalent, does not, of itself, create a presumption that the
person is liable pursuant to NRS 78.138 or did not act in good
faith and in a manner which he reasonably believed to be in or not
opposed to the best interests of the corporation, or that, with
respect to any criminal action or proceeding, he had reasonable
cause to believe that his conduct was unlawful.
A
corporation may indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the corporation to
procure a judgment in its favor by reason of the fact that he is or
was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director,
officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise against expenses,
including amounts paid in settlement and attorneys’ fees actually
and reasonably incurred by him in connection with the defense or
settlement of the action or suit if he:
(a)
Is not liable pursuant to NRS 78.138; or
(b)
Acted in good faith and in a manner which he reasonably believed to
be in or not opposed to the best interests of the corporation.
Indemnification may not be made for any claim, issue or matter as
to which such a person has been adjudged by a court of competent
jurisdiction, after exhaustion of all appeals therefrom, to be
liable to the corporation or for amounts paid in settlement to the
corporation, unless and only to the extent that the court in which
the action or suit was brought or other court of competent
jurisdiction determines upon application that in view of all the
circumstances of the case, the person is fairly and reasonably
entitled to indemnity for such expenses as the court deems
proper.
To
the extent that a director, officer, employee or agent of a
corporation has been successful on the merits or otherwise in
defense of any action, suit or proceeding referred to in
subsections 1 and 2, or in defense of any claim, issue or matter
therein, the corporation shall indemnify him against expenses,
including attorneys’ fees, actually and reasonably incurred by him
in connection with the defense.
These
provisions and resultant costs may also discourage us from bringing
a lawsuit against directors and officers for breaches of their
fiduciary duties even though such actions, if successful, might
otherwise benefit us and our stockholders.
Public company compliance
may make it more difficult to attract and retain officers and
directors.
The
Sarbanes-Oxley Act and related rules implemented by the SEC have
required changes in corporate governance practices of public
companies. As a public entity, these rules and regulations increase
compliance costs and make certain activities more time consuming
and costly. As a public entity, these rules and regulations also
make it more difficult and expensive for us to obtain director and
officer liability insurance and we may be required to accept
reduced policy limits and coverage. As a result, it may be more
difficult for us to attract and retain qualified persons to serve
as directors or as executive officers.
We do not plan to pay any
cash or stock dividends in the foreseeable
future.
The
payment of dividends upon our capital stock is solely within the
discretion of our future board of directors and is dependent upon
our financial condition, results of operations, capital
requirements, restrictions contained in our future financing
instruments and any other factors our board of directors may deem
relevant. We have never declared or paid any cash or stock
dividends on our capital stock and we currently anticipate that we
will retain earnings, if any, to finance the development and
expansion of our business and, as such, do not intend on paying any
cash or stock dividends in the foreseeable future.
Best Efforts
Offering.
The
Securities are being offered by the Company on a “best efforts”
basis. There is no firm commitment by any person to sell any of the
common stock and there is no assurance that any common stock
offered will be sold. There is no minimum number of common stock
required to be sold in this offering.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This
prospectus and the information incorporated by reference in this
prospectus contain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”). These statements are
therefore entitled to the protection of the safe harbor provisions
of these laws. These statements may be identified by the use of
forward-looking terminology such as “anticipate,” “believe,”
“budget,” “contemplate,” “continue,” “could,” “envision,”
“estimate,” “expect,” “forecast,” “guidance,” “indicate,” “intend,”
“may,” “might,” “outlook,” “plan,” “possibly,” “potential,”
“predict,” “probably,” “pro-forma,” “project,” “seek,” “should,”
“target,” “will,” “would,” “will be,” “will continue” or the
negative of or other variation on these words or comparable
terminology.
We
have based these forward-looking statements on our current
expectations, assumptions, estimates and projections. While we
believe these expectations, assumptions, estimates and projections
are reasonable, these forward-looking statements are only
predictions and involve a number of risks and uncertainties, many
of which are beyond our control. These and other important factors
may cause our actual results, performance or achievements to differ
materially from any future results, performance or achievements
expressed or implied by these forward-looking
statements.
Management
cautions that the forward-looking statements contained in this
prospectus and the information incorporated by reference are not
guarantees of future performance, and we cannot assume that such
statements will be realized, or the forward-looking events and
circumstances will occur.
The
risks, uncertainties and assumptions that could cause actual
results to differ materially from those anticipated or implied in
our forward-looking statements include, but are not limited to,
those set forth in the “Risk Factors” section below.
Some
of the factors that could cause actual results to differ from our
expectations are:
● the
state of the Company’s development;
● the
Company’s ability to continue as a going concern;
● the
Company’s ability to compete in an unproven market;
●
resistance by potential customers to new technologies;
●
performance issues with the Company’s products;
●
uncertainties related to estimates, assumptions and projections
relating to unpaid losses and loss adjustment expenses and other
accounting policies;
●
reliance on key personnel;
●
introduction of competing products by other companies;
●
inflation and other changes in economic conditions, including
changes in the financial markets;
●
security breaches and other system disruptions;
●
legislative and regulatory developments, especially in the
gathering and use of information about private citizens;
●
weather conditions and natural disasters (including, but not
limited to, the severity and frequency of storms, hurricanes,
tornados and hail); and
●
acts of war and terrorist activities, among other man-made
disasters.
Given
these risks and uncertainties, you are cautioned not to place undue
reliance on any forward-looking statements. The forward-looking
statements included or incorporated by reference into this
prospectus and in the information incorporated by reference are
made only as of the date of this prospectus. Except as required by
applicable law, including the securities laws of the United States
and the rules and regulations of the SEC, we do not undertake and
specifically decline any obligation to update or revise any
forward-looking statements in this prospectus after we distribute
this prospectus, or publicly announce the results of any revisions
to any such statements to reflect future events or developments,
whether as a result of any new information, future events or
otherwise.
USE OF PROCEEDS
We
will not receive any proceeds from the sale of the common stock by
the selling stockholders.
The
Company will retain broad discretion over the use of the net
proceeds from the sale of the securities to purchaser. We currently
intend to use the net proceeds for working capital, capital
expenditures, extinguishment of debt or other liabilities, and
general corporate purposes. We may also use a portion of the net
proceeds to invest in or acquire businesses or technologies that we
believe are complementary to our own, although we have no current
commitments or binding agreements with respect to any acquisitions
as of the date of this prospectus.
Market for Our Common
Stock
Market Information
Our
common stock is quoted on the OTCQB under the symbol “TSOI.” The
table below sets forth for the periods indicated the quarterly high
and low bid prices as reported by OTC Markets. Limited trading
volume has occurred during these periods. These quotations reflect
inter-dealer prices, without retail mark-up, mark-down, or
commission and may not necessarily represent actual
transactions.
|
|
Quarter |
|
High |
|
|
Low |
|
FISCAL QUARTER ENDING DECEMBER 31, 2022
|
|
Third |
|
$ |
0.0063 |
|
|
$ |
0.0055 |
|
|
|
Quarter |
|
High |
|
|
Low |
|
FISCAL
QUARTER ENDING SEPTEMBER 30, 2022 |
|
Third |
|
$ |
0.014 |
|
|
$ |
0.0121 |
|
|
|
Quarter |
|
High |
|
|
Low |
|
FISCAL
YEAR ENDING DECEMBER 31, 2021 |
|
First |
|
$ |
0.0859 |
|
|
$ |
0.0668 |
|
|
|
Second |
|
$ |
0.044 |
|
|
$ |
0.040 |
|
|
|
Third |
|
$ |
0.052 |
|
|
$ |
0.050 |
|
|
|
Fourth |
|
$ |
0.0319 |
|
|
$ |
0.0274 |
|
|
|
Quarter |
|
High |
|
|
Low |
|
FISCAL
YEAR ENDED DECEMBER 31, 2020 |
|
First |
|
$ |
0.0016 |
|
|
$ |
0.0012 |
|
|
|
Second |
|
$ |
0.0085 |
|
|
$ |
0.0086 |
|
|
|
Third |
|
$ |
0.009 |
|
|
$ |
0.007 |
|
|
|
Fourth |
|
$ |
0.0079 |
|
|
$ |
0.004 |
|
Our
common stock is considered to be penny stock under rules
promulgated by the Securities and Exchange Commission (the
“SEC”). Under these rules, broker-dealers participating in
transactions in these securities must first deliver a risk
disclosure document which describes risks associated with these
stocks, broker-dealers’ duties, customers’ rights and remedies,
market and other information, and make suitability determinations
approving the customers for these stock transactions based on
financial situation, investment experience and objectives.
Broker-dealers must also disclose these restrictions in writing,
provide monthly account statements to customers, and obtain
specific written consent of each customer. With these restrictions,
the likely effect of designation as a penny stock is to decrease
the willingness of broker-dealers to make a market for the stock,
to decrease the liquidity of the stock and increase the transaction
cost of sales and purchases of these stocks compared to other
securities.
We
have granted registration rights only to the selling investor
shareholder herein. We have not proposed to publicly offer any
shares of our common stock in a primary offering.
Availability of Rule 144
Rule
144 is not available for the resale of securities issued by
companies that are, or previously were, shell companies, such as
our company. Paragraph (i) of Rule 144 prohibits the use of the
rule for resale of securities issued by any shell companies (other
than business combination related shell companies) or any issuer
that has been at any time previously a shell company, except where
the following conditions are met:
|
● |
the
issuer of the securities that was formerly a shell company has
ceased to be a shell company; |
|
● |
the
issuer of the securities is subject to the reporting requirements
of Section 13 or 15(d) of the Exchange Act; |
|
● |
the
issuer of the securities has filed all Exchange Act reports and
material required to be filed, as applicable, during the preceding
12 months (or such shorter period that the issuer was required to
file such reports and materials), other than Current Reports on
Form 8-K; and |
|
● |
at
least one year has elapsed from the time that the issuer filed
current comprehensive disclosure with the SEC reflecting its status
as an entity that is not a shell company. |
Holders
As of
the close of business on September 30, 2022, we had approximately
211 holders of our common stock. The number of record holders was
determined from the records of our transfer agent and does not
include beneficial owners of common stock whose shares are held in
the names of various security brokers, dealers, and registered
clearing agencies. We have appointed New Horizon Transfer 215-515
West Pender Street, Vancouver, BC V6B 6H5, 604-876-5526, to act as
transfer agent for the common stock.
Dividends
We
have not declared or paid any cash dividends on our common stock
during the two fiscal years ended December 31, 2020 and December
31, 2021, or in any subsequent period. We do not anticipate or
contemplate paying dividends on our common stock. The only
restrictions that limit the ability to pay dividends on common
equity, or that are likely to do so in the future, are those
restrictions imposed by law.
Securities Authorized for Issuance under Equity Compensation
Plans
The
following table sets forth as of the most recent fiscal year ended
December 31, 2021, certain information with respect to compensation
plans (including individual compensation arrangements) under which
our common stock is authorized for issuance:
Plan
Category |
|
(a)
Number of Securities to be Issued Upon Exercise of Outstanding
Options, Warrants and Rights |
|
(b)
Weighted Average Exercise Price of Outstanding Options, Warrants,
and Rights |
|
(c)
Number of Securities Remaining Available for Future Issuance Under
Equity Compensation Plans (Excluding Securities Reflected in Column
(a) and (b)) |
Equity
compensation plans approved by security holders: |
|
0
|
|
0
|
|
0
|
Equity
compensation plans not approved by security holders: |
|
0
|
|
0
|
|
0
|
Total: |
|
0 |
|
0 |
|
0 |
Dilution
If
you invest in shares of our common stock in this offering, your
investment will be immediately diluted to the extent of the
difference between the initial public offering price per share of
common stock and the net tangible book value per share of common
stock after this offering. Dilution results from the fact that the
per share offering price of the shares of common stock is
substantially in excess of the net tangible book value per share
attributable to the shares of common stock held by existing
owners.
Our
net tangible book value as of September 30, 2022, was $0.0133 per
share of common stock. We calculate net tangible book value per
share by taking the amount of our total assets, reduced by the
amount of our total liabilities, and then dividing that amount by
the number of shares of common stock outstanding.
[Balance
of page intentionally left blank]
Management’s Discussion
and Analysis of
Financial Condition and Results of Operations
You should read the following discussion of our financial
condition and results of operations in conjunction with financial
statements and notes thereto included elsewhere in this prospectus.
The following discussion contains forward-looking statements that
reflect our plans, estimates and beliefs. Our actual results could
differ materially from those discussed in the forward-looking
statements. Factors that could cause or contribute to these
differences include those discussed below and elsewhere in this
prospectus, particularly in the section labeled “Risk
Factors.”
This section of the prospectus includes a number of
forward-looking statements that reflect our current views with
respect to future events and financial performance. Forward-looking
statements are often identified by words like “believe,” “expect,”
“estimate,” “anticipate,” “intend,” “project,” and similar
expressions, or words that, by their nature, refer to future
events. You should not place undue certainty on these
forward-looking statements, which apply only as of the date of this
prospectus. These forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ
materially from historical results or our
predictions.
General
Our
principal executive office is located at 701 Wild Rose Lane, Elk
City, Idaho, 83525, with an additional satellite office located at
4093 Oceanside Blvd. Suite “B”, Oceanside, California, 92056; our
telephone number is (760) 295-7208, and our website is www.therapeuticsolutionsint.com.
The reference to our website does not constitute incorporation by
reference of the information contained on our website.
We
file our quarterly and annual reports with the Securities and
Exchange Commission (SEC), which the public may view and copy at
the SEC’s Public Reference Room at 100 F Street, N.E. Washington
D.C. 20549, on official business days during the hours of 10 a.m.
to 3 p.m. The public may obtain information on the operation of the
SEC’s Public Reference Room by calling the SEC at 1–800–SEC–0330.
The SEC also maintains an Internet site, the address of which is
www.sec.gov, which contains reports, proxy and information
statements, and other information regarding issuers which file
electronically with the SEC. The periodic and current reports that
we file with the SEC can also be obtained from us free of charge by
directing a request to Therapeutic Solutions International, Inc.,
701 Wild Rose Lane, Elk City, Idaho 83525, Attn: Corporate
Secretary.
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
On
January 3, 2019, the Board of Directors engaged Fruci &
Associates II, PLLC (“Fruci”), as the Company’s independent
registered public accounting firm for the year ending December 31,
2018. The Company filed a Form 8-K on January 7, 2019, in regard to
this change. Fruci has acted as the Company’s independent
registered public accounting firm for the years ending December 31,
2019, 2020 and 2021, as well. There currently are no disagreements
between Fruci and the Company.
INFORMATION
WITH RESPECT TO THE REGISTRANT
CURRENT BUSINESS OPERATIONS DESCRIPTION
Overview
As stated more fully above under Business Description (beginning
page 6), 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. 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.
TSOI
is developing a range of immune-modulatory agents to target certain
cancers, schizophrenia, suicidal ideation, traumatic brain injury,
and for daily health.
Nutraceutical Division. 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.
Cellular Division. SOI recently obtained exclusive rights to
a patented adult stem cell for development of therapeutics in the
area of chronic traumatic encephalopathy (CTE), traumatic brain
injury (TBI), and lung pathology.
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.
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.
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, 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%.
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.”
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.
Most
recently the Company announced filing of a patent for a new hybrid
cell created by the Company capable of training the immune system
to kill blood vessels feeding cancer but sparing healthy blood
vessels. These discoveries are an extension of previous findings
from the Company showing that StemVacs is capable of suppressing
new blood vessel production.
On May 9, 2022, the Company filed an Investigational New Drug
Application for Treatment of Chronic Obstructive Pulmonary Disease
(COPD) Using JadiCell™ Universal Donor Adult Stem Cells under IND
Serial # 28508.
Critical
Accounting Policies and Estimates
The
discussion and analysis of our financial condition and results of
operations are based on our unaudited condensed consolidated
financial statements, which have been prepared in accordance with
U.S. generally accepted accounting principles. The preparation of
these unaudited condensed consolidated financial statements
requires us to make estimates and judgments that affect the
reported amounts of assets, liabilities, revenues and expenses, and
related disclosure of contingent assets and liabilities. We
evaluate our estimates on an ongoing basis. We base our estimates
on historical experience and on other assumptions that we believe
to be reasonable under the circumstances, the results of which form
the basis for making judgments about the carrying values of assets
and liabilities that re not readily apparent from other sources.
Actual results may differ materially from these estimates under
different assumptions or conditions.
Recent
Accounting Pronouncements
The
consolidated financial statements and accompanying notes have been
prepared in accordance with U.S. generally accepted accounting
principles (“U.S. GAAP”). In the opinion of the Company’s
management, the consolidated financial statements include all
adjustments, which include only normal recurring adjustments,
necessary for the fair presentation of the Company’s financial
position for the periods presented.
In
August 2018, the FASB issued ASU No. 2018-13, Fair Value
Measurement (Topic 820) – Disclosure Framework – Changes to the
Disclosure Requirements for Fair Value Measurement. The new
guidance improves and clarifies the fair value measurement
disclosure Requirement of ASC 820. The new disclosure requirements
include the changes in unrealized gains or losses included in other
comprehensive income for recurring Level 3 fair value measurement
held at the end of the reporting period and the explicit
requirement to disclose the range and weighted average used to
develop significant unobservable inputs for Level 3 fair value
measurements. The other provisions of ASU 2018-13 also include
eliminated and modified disclosure requirements. The guidance is
effective for fiscal years beginning after December 15, 2019, with
early adoption permitted, including in an interim period for which
financial statements have not been issued or made available for
issuance. The Company has evaluated the impact of adoption of this
ASU and determined that it will have no significant impact on its
consolidated financial statements.
In
December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic
740): Simplifying the Accounting for Income Taxes. ASU 2019-12
eliminated certain exceptions and changed guidance on other
matters. The exceptions relate to the allocation of income taxes in
separate company financial statements, tax accounting for equity
method investments and accounting for income taxes when the interim
period year-to-date loss exceeds the anticipated full year loss.
Changes relate to the accounting for franchise taxes that are
income-based and non-income-based, determining if a step up in tax
basis is part of a business combination or if it is a separate
transaction, when enacted tax law changes should be included in the
annual effective tax rate computation, and the allocation of taxes
in separate company financial statements to a legal entity that is
not subject to income tax. The new standard is effective for fiscal
years, and interim periods within those fiscal years, beginning
after December 15, 2020, with early adoption permitted. The Company
is currently evaluating the potential impact but does not believe
there will be an impact of the adoption of this standard on its
results of operations, financial position and cash flows and
related disclosures.
Restricted
cash
Included
in current assets is a $10,000 certificate of deposit with an
annual interest rate of 0.6%. 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.
Revenue
Recognition
The
Company recognizes revenue in accordance with ASC 606, “Revenue
from Contracts with Customers” (“ASC 606”). In accordance with ASC
606, the Company applies the following methodology to recognize
revenue:
1) |
Identify
the contract with a customer. |
2) |
Identify
the performance obligations in the contract. |
3) |
Determine
the transaction price. |
4) |
Allocate
the transaction price to the performance obligations in the
contract. |
5) |
Recognize
revenue when (or as) the entity satisfies a performance
obligation. |
ASC
606 provides that sales revenue is recognized when control of the
promised goods or services is transferred to customers at an amount
that reflects the consideration to which the entity expects to be
entitled to in exchange for those goods or services. The Company
generally satisfies performance obligations upon shipment of the
product or service to the customer. This is consistent with the
time in which the customer obtains control of the product or
service.
Returns.
We will gladly accept the return of products that are defective due
to defects in manufacturing and/or workmanship.
Wholesale policies.
Delivery.
The Goods shall be deemed delivered when Buyer has accepted
delivery at the above-referenced location. The shipping method
shall be determined by Seller, but Buyer will not be responsible
for shipping costs.
Purchase
Price & Payments. Seller agrees to sell the Goods to Buyer
for Fifty Percent (50%) off Seller’s listed retail price. 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.
Risk
of Loss.
Risk
of loss will be on the Seller until the time when the Buyer accepts
delivery. Seller shall maintain any and all necessary insurance in
order to insure the Goods against loss at Seller’s own
expense.
Retail policies of e-commerce.
Returns. We will gladly accept the return of products that
are defective due to defects in manufacturing and/or workmanship.
Fulfillment mistakes that may be made which result in the shipment
of incorrect products to you will also be accepted for
return.
Cash
and Cash Equivalents
The
Company considers all highly liquid instruments with maturity of
three months or less at the time of issuance to be cash
equivalents. Financial instruments that potentially subject the
Company to concentration of credit risk consist principally of cash
deposits. Accounts at each institution are insured by the Federal
Deposit Insurance Corporation (“FDIC”) up to $250,000. At December
31, 2021 and 2020, the Company had $0 and $12,349 in excess of the
FDIC insured limit.
Inventories
Inventories
are stated at lower of cost (using the first-in, first-out method,
“FIFO”) or market. Inventories consist of purchased materials and
assembly items.
Depreciation
and Amortization
Depreciation
is calculated using the straight line method over the estimated
useful lives of the assets. Amortization is computed using the
straight line method over the term of the agreement. Depreciation
expense for the nine months ended September 30, 2022 and 2021 was
$3,489 and $4,051, respectively.
Intangible
Assets
Intangible
assets consisted primarily of intellectual properties such as
proprietary nutraceutical formulations. Intellectual assets are
capitalized in accordance with ASC Topic 350 “Intangibles –
Goodwill and Other.” Intangible assets with finite lives are
amortized over their respective estimated lives and reviewed for
impairment whenever events or other changes in circumstances
indicate that the carrying amount may not be recoverable.
Amortization expense for the nine months ended September 30, 2022
and 2021 was $191,192 and $4,943, respectively.
Long-lived
Assets
In
accordance with ASC 360, Property, Plant and Equipment, the
carrying value of intangible assets and other long-lived assets is
reviewed on a regular basis for the existence of facts or
circumstances that may suggest impairment. The Company recognizes
impairment when the sum of the expected undiscounted future cash
flows is less than the carrying amount of the asset. Impairment
losses, if any, are measured as the excess of the carrying amount
of the asset over its estimated fair value.
Research
and Development
Research
and Development costs are expensed as incurred. Research and
Development expenses were $1,177,123 and $183,597 for the nine
months ended September 30, 2022, and 2021, respectively.
Income
Taxes
The
Company accounts for income taxes under ASC 740 “Income Taxes,”
which codified SFAS 109, “Accounting for Income Taxes” and FIN 48
“Accounting for Uncertainty in Income Taxes – an Interpretation of
FASB Statement No. 109.” Under the asset and liability method of
ASC 740, deferred tax assets and liabilities are recognized for the
future tax consequences attributable to differences between the
financial statements carrying amounts of existing assets and
liabilities and their respective tax bases. Deferred tax assets and
liabilities are measured using enacted tax rates expected to apply
to taxable income in the years in which those temporary differences
are expected to be recovered or settled. Under ASC 740, the effect
on deferred tax assets and liabilities of a change in tax rates is
recognized in income in the period the enactment occurs. A
valuation allowance is provided for certain deferred tax assets if
it is more likely than not that the Company will not realize tax
assets through future operations.
Stock-Based
Compensation
Compensation
expense for stock issued to employees is determined as the fair
value of consideration or services received or the fair value of
the equity instruments issued, whichever is more reliably measured.
The Financial Accounting Standards Board (FASB) issued ASU 2018-07
to expand the scope of Topic 718 to include share-based payments
issued to nonemployees. The effective date for public companies is
for fiscal years beginning after December 15, 2018, and interim
periods within those fiscal years. For all other entities, the
effective date is fiscal years beginning after December 15, 2019.
The Company adopted during the year ended December 31, 2018, for
which there was no impact on the consolidated financial statements.
The Company issues shares for multiyear consulting agreements which
are restricted and nonrefundable shares.
Leases
On
February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The
new standard requires lessees to recognize most leases on their
balance sheets as lease liabilities with corresponding right-of-use
assets and eliminates certain real estate-specific provisions. ASU
2016-02 became effective for the Company in the first quarter of
2019 and was adopted on a modified retrospective transition basis
for leases existing at, or entered into after, the beginning of the
earliest comparative period presented in the financial statements.
The Company recorded a Right-of-use asset and a Lease Liability of
$15,071 as of September 30, 2022.
Derivative
Liabilities
A
derivative is an instrument whose value is “derived” from an
underlying instrument or index such as a future, forward, swap,
option contract, or other financial instrument with similar
characteristics, including certain derivative instruments embedded
in other contracts and for hedging activities.
As a
matter of policy, the Company does not invest in separable
financial derivatives or engage in hedging transactions. However,
the Company entered into certain debt financing transactions in
fiscal 2021 and 2020, as well as 2022, as disclosed in “Convertible
Notes” below, containing certain conversion features that have
resulted in the instruments being deemed derivatives. We evaluate
such derivative instruments to properly classify such instruments
within equity or as liabilities in our financial statements. Our
policy is to settle instruments indexed to our common shares on a
first-in-first-out basis.
The
convertible promissory notes are convertible into a variable number
of shares of common stock for which there is not a floor to the
number of common stock we might be required to issue. Based on the
requirements of ASC 815 Derivatives and Hedging, the conversion
feature represented an embedded derivative that is required to be
bifurcated and accounted for as a separate derivative liability.
The derivative liability is originally recorded at its estimated
fair value and is required to be revalued at each conversion event
and reporting period. Changes in the derivative liability fair
value are reported in operating results each reporting
period.
The
classification of a derivative instrument is reassessed at each
reporting date. If the classification changes as a result of events
during a reporting period, the instrument is reclassified as of the
date of the event that caused the reclassification. There is no
limit on the number of times a contract may be
reclassified.
Instruments
classified as derivative liabilities are remeasured using the
Black-Scholes model at each reporting period (or upon
reclassification) and the change in fair value is recorded on our
consolidated statement of operations. We recorded derivative
liabilities of $531,525 and $437,549 at December 31, 2021 and 2020,
respectively.
Fair
Value of Financial Instruments
The
Company’s financial instruments consist of cash and cash
equivalents, prepaids, convertible notes, and payables. The
carrying amount of cash and cash equivalents and payables
approximates fair value because of the short-term nature of these
items.
Fair
value is an exit price, representing the amount that would be
received from the sale of an asset or paid to transfer a liability
in an orderly transaction between market participants. As such,
fair value is a market-based measurement that should be determined
based on assumptions that market participants would use in pricing
an asset or liability. Fair value measurements are required to be
disclosed by level within the following fair value
hierarchy:
Level
1 – Inputs are unadjusted, quoted prices in active markets for
identical assets or liabilities at the measurement date.
Level
2 – Inputs (other than quoted prices included in Level 1) are
either directly or indirectly observable for the asset or liability
through correlation with market data at the measurement date and
for the duration of the instrument’s anticipated life.
Level
3 – Inputs lack observable market data to corroborate management’s
estimate of what market participants would use in pricing the asset
or liability at the measurement date. Consideration is given to the
risk inherent in the valuation technique and the risk inherent in
the inputs to the model.
When
determining fair value, whenever possible the Company uses
observable market data, and relies on unobservable inputs only when
observable market data is not available. As of September 30, 2022,
and December 31, 2021, the Company has level 3 fair value
calculations on derivative liabilities. The table below reflects
the results of our Level 3 fair value calculations:
The
following is the change in derivative liability for the nine months
ended September 30, 2022. The table below reflects the results of
our Level 3 fair value calculations:
Balance, December 31, 2021 |
|
$ |
531,525 |
|
Issuance of new derivative
liabilities |
|
|
576,592 |
|
Conversions to paid-in capital |
|
|
(482,253 |
) |
Change in fair market value of
derivative liabilities |
|
|
(233,303 |
) |
Balance, September 30, 2022 |
|
$ |
392,561 |
|
Use
of Estimates
Estimates
were made relating to valuation allowances, impairment of assets,
share-based compensation expense and accruals. Actual results could
differ materially from those estimates.
Comprehensive
Loss
Comprehensive
loss for the periods reported was comprised solely of the Company’s
net loss.
Net
Loss Per Share
Basic
loss per share is computed by dividing net income available to
common stockholders by the weighted average number of common shares
outstanding during the period of computation. Diluted loss per
share is computed similar to basic loss per share except that the
denominator is increased to include the number of additional common
shares that would have been outstanding if potential common shares
had been issued, if such additional common shares were dilutive.
Since we had net losses for all the periods presented, basic and
diluted loss per share are the same, and additional potential
common shares have been excluded as their effect would be
antidilutive.
As of
September 30, 2022, and 2021, a total of 211,919,728 and
286,251,995, respectively, potential common shares, consisting of
shares underlying outstanding convertible notes payable were
excluded as their inclusion would be antidilutive.
Convertible
notes payable
At
various times during the year ended December 31, 2021, the Company
entered into convertible promissory notes with principal amounts
totaling $572,250 with third parties for which the proceeds were
used for operations. The Company received net proceeds of $538,750,
and a $33,500 original issuance discount was recorded. The
convertible promissory notes incur interest at rates ranging from
10% to 12% per annum and mature on dates ranging from January 25,
2022, to December 15, 2022. The convertible promissory notes are
convertible to shares of the Company’s common stock 180 days after
issuance. The conversion price per share is equal to a percentage
ranging from 61% to 63% of the average of the three (3) lowest
trading prices of the Company’s common stock during the fifteen
(15) trading days immediately preceding the applicable conversion
date. The trading price is defined within the agreement as the
closing bid price on the applicable trading market. The Company has
the option to prepay the convertible notes in the first 180 days
from closing subject to prepayment penalties ranging from 120% to
145% of principal balance plus interest, depending upon the date of
prepayment. The convertible promissory notes include various
default provisions for which the default interest rate increases to
22% per annum with the outstanding principal and accrued interest
increasing by 150%. The Company was required to reserve at December
31, 2021 a total of 95,273,690 common shares in connection with
these promissory notes.
On
various dates throughout the year ended December 31, 2020, the
Company entered into seven convertible promissory notes with
Principal amounts totaling $336,500 with a third party for which
the proceeds were used for operations. The Company received net
proceeds of $315,000, and a $21,500 original issuance discount was
recorded. The convertible promissory notes incur interest at 12%
per annum and mature on dates ranging from February 3, 2021, to
December 17, 2021. The convertible promissory notes are convertible
to shares of the Company’s common stock 180 days after issuance.
The conversion price per share is equal to 61% of the average of
the three (3) lowest trading prices of the Company’s common stock
during the fifteen (15) trading days immediately preceding the
applicable conversion date. The trading price is defined within the
agreement as the closing bid price on the applicable trading
market.
The
Company has the option to Prepay the convertible notes in the first
180 days from closing subject to prepayment penalties ranging from
120% to 145% of principal balance plus interest, depending upon the
date of prepayment. The convertible promissory notes include
various default provisions for which the default interest rate
increases to 22% per annum with the outstanding principal and
accrued interest increasing by 150%. The Company was required to
reserve at December 31, 2020 a total of 579,347,525 common shares
in connection with these promissory notes.
Unregistered
Sales of Equity Securities and Use of Proceeds
|
● |
On
January 4, 2022, we issued 1,034,482 shares of common stock for
$30,000 of accrued salaries. |
|
● |
On
January 14, 2022, we issued 4,158,759 shares of common stock for
the complete conversion of $56,975 for convertible note dated July
12, 2021. |
|
● |
On
February 4, 2022, we issued 4,778,689 shares of common stock for
the complete conversion of $58,300 for convertible note dated
August 2, 2021. |
|
● |
On
February 14, 2022, we issued 24,500,000 shares of common stock,
valued at $0.01 per share, for an investment in the Company’s
Private Placement. |
|
● |
On
February 24, 2022, we issued 10,000,000 shares of common stock,
valued at $0.01 per share, for an investment in the Company’s
Private Placement. |
|
● |
On
February 23, 2022, we issued 149,402,390 shares of common stock,
valued at $0.0208 per share, for a license. |
|
● |
On
March 31, 2022, we issued 10,000,000 shares of common stock, valued
at $0.01 per share, for an investment in the Company’s Private
Placement. |
|
● |
On
April 4, 2022, we issued 6,786,585 shares of common stock for the
complete conversion of $83,475 for convertible note dated October
1. 2021. |
|
● |
On
April 5, 2022, we issued 9,000,000 shares of common stock, valued
at $0.0251 per share, for consulting services. |
|
● |
On
May 2, 2022, we issued 7,000,000 shares of common stock, valued at
$0.026 per share, for consulting services. |
|
● |
On
May 2, 2022, we issued 3,571,994 shares of common stock for the
complete conversion of $56,438 for convertible note dated November
2, 2021. |
|
● |
On
May 3, 2022, we issued 2,000,000 shares of common stock, valued at
$0.0254 per share, for consulting services. |
|
● |
On
May 4, 2022, we issued 2,000,000 shares of common stock, valued at
$0.0259 per share, for consulting services. |
|
● |
On
May 24, 2022, we issued 2,000,000 shares of common stock, valued at
$0.02261 per share, for consulting services. |
|
● |
On
June 16, 2022, we issued 2.919.708 shares of common stock for the
partial conversion of $40,000 for convertible note dated December
15, 2021. |
|
● |
On
June 17, we issued 1,951,993 shares of common stock for the
complete conversion of $26,938 for convertible note dated December
15, 2021. |
|
● |
On
July 13, 2022, we issued 2,777,778 shares of common stock for the
partial conversion of $35,000 for convertible note dated January
12, 2022. |
|
● |
On
July 15, 2022, we issued 1,701,389 shares of common stock for the
complete conversion of $21,438 for convertible note dated January
12, 2022. |
|
● |
On
July 25, 2022, we issued 4,095,000 shares of common stock for the
complete conversion of $51,188 for convertible note dated January
21, 2022. |
|
● |
On
August 4, 2022, we issued 5,000,000 shares of common stock, valued
at .02 per share, for consulting services. |
|
● |
On
August 9, 2022, we issued 2 shares of preferred shares, valued at
0.001 per share. |
Defaults
Upon Senior Securities
None.
Results of Operations.
You
should read the following discussion of our financial condition and
results of operations together with the audited financial
statements and unaudited financial statements included in this
prospectus. This discussion contains forward-looking statements
that reflect our plans, estimates and beliefs. Our actual results
may differ materially from those anticipated in these
forward-looking statements.
Management
does not expect existing cash as of September 30, 2022, to be
sufficient to fund the Company’s operations for at least twelve
months from the issuance date of the 3rd Quarter 2022
financial statements. The 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 September 30, 2022, the Company has
incurred losses totaling $16.7 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 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.
For
the three and nine months ended September 30, 2022, and
2021
We
had net loss of $946,462 for the three months ended September 30,
2022, compared to a net loss of $814,799 for the three months ended
September 30, 2021, an increase of $131,663. This increase was
mainly due to increases in general and administrative expenses,
salaries, wages and related costs and research and development
expenses. We had net loss of $1,638,964 for the nine months ended
September 30, 2021, compared to a net loss of $2,738,142 for the
nine months ended September 30, 2022, an increase of $1,099,178.
This increase was mainly due to general and administrative expenses
and research and development expenses.
Net
sales increased $17,250, from $57,291 to $74.541, for the three
months ended September 30, 2021, and September 30, 2022,
respectively. Net sales increased $96,392, from $101,796 to
$198,188, for the nine months ended September 30, 2021, and
September 30, 2022, respectively.
Cost
of goods sold decreased $3,641 from $12,431 to $8,790, for the
three months ended September 30, 2021, and September 30, 2022,
respectively. These decreases were mainly a result of the
efficiency in manufacturing the products for products in 2022 and
2021. Cost of goods sold increased $5,839, from $27,598 to $33,437,
for the nine months ended September 30, 2021, and September 30,
2022, respectively. These increases were mainly a result of the
increases in net sales for products in 2022 and 2021.
Operating
expenses for the three-month periods ended September 30, 2022, and
2021 were $784,970 and $746,863, an increase of $38,107. This
increase was mainly due to increases in general and administrative
expenses and research and development expenses. Operating expenses
for the nine-month periods ended September 30, 2022, and 2021 were
$2,486,052 and $1,460,554, an increase of $1,025,498. This increase
was mainly due to general and administrative expenses, consulting,
legal and professional fees, and research and development
expenses.
General
and administrative expenses increased $173,567, from $31,271 to
$204,838 for the three months ended September 30, 2021, and 2022,
respectively. General and administrative expenses increased
$291,839, from $96,722 to $388,561 for the nine months ended
September 30, 2021, and 2022, respectively. This increase was
mainly attributable to an increase in expenses during the three and
nine months ended September 30, 2022.
Salaries,
wages, and related expenses decreased $26,140, from $83,968 to
$110,108 for the three months ended September 30, 2021, and 2022,
respectively. This decrease was mainly due to a decrease in wage
related expenses for the three months ended September 30, 2022.
Salaries, wages, and related expenses increased $17,728, from
$319,198 to $336,926 for the nine months ended September 30, 2021,
and 2022, respectively. This increase was mainly due to an increase
in wage related expenses for the three and nine months ended
September 30, 2022.
Consulting
fees decreased $19,356 from $107,514 to $88,158 for the three
months ended September 30, 2021, and 2022, respectively, due to a
decrease in overall consulting services. Consulting fees increased
$92,440 from $224,844 to $317,284 for the nine months ended
September 30, 2021, and 2022, respectively, due to an increase in
overall consulting services.
Legal
and professional fees decreased $385,500 from $492,295 to $106,795
for the three months ended September 30, 2021, and 2022,
respectively, due to decrease in legal expense. Legal and
professional fees decreased $370,035, from $636,193 to $266,158 for
the nine months ended September 30, 2021, and 2022. These decreases
were mainly related to legal expenses during the nine months ended
September 30, 2022.
Research
and development increased $243,256, from $31,815 to $275,071 for
the three months ended September 30, 2021, and 2022, respectively,
due to an increase in research and development. Research and
development increased $993,526, from $183,597 to $1,177,123 for the
nine months ended September 30, 2021, and 2022. These increases
were mainly related to research and development expenses during the
three and nine months ended September 30, 2022.
Loss
on derivatives liability decreased approximately $18,139, from
$45,006 to $26,867 for the three months ended September 30, 2021,
and 2022, respectively. This decrease was mainly due to a decrease
in the amount of new convertible notes being issued during the
current period. Loss on derivatives liability decreased
approximately $340,976, from $477,559 to $136,583, for the nine
months ended September 30, 2021, and 2022, respectively This
decrease was mainly due a decrease in the amount of new convertible
notes being issued during the current nine-month period.
Change
in fair derivatives liabilities gains decreased approximately
$85,829 from a gain of $53,624 to a loss of $32,205 for the three
months ended September 30, 2021, and 2022, respectively. This
decrease was largely due to a decrease in the balance of
convertible notes outstanding upon which the derivative liability
is recorded. Change in fair derivatives liabilities gains decreased
$391,073 from $624,376
to $233,303 for the
nine months ended September 30, 2021, and 2022, respectively. This
decrease was largely due to a decrease in the balance of
convertible notes outstanding upon which the derivative liability
is recorded.
Net
interest expense increased $45,957 from $121,414 to $167,371 for
the three months ended September 30, 2021, and 2022 respectively.
This increase was mainly due to increased debt balances. Net
interest expense increased $113,336 from $399,425 to $512,761 for
the nine months ended September 30, 2021, and 2022, respectively.
This increase was mainly due to increased debt balances.
Liquidity
and Capital Resources
We
have experienced recurring losses over the past years which have
resulted in accumulated deficits of approximately $16.7 million and
a working capital deficit of approximately $1.9 million at
September 30, 2022. These conditions raise significant doubt about
the Company’s ability to continue as a going concern. The Company’s
ability to continue as a going concern is contingent upon its
ability to secure additional financing, increase sales of its
products and attain profitable operations. It is the intent of
management to continue to raise additional capital. However, there
can be no assurance that the Company will be able to secure such
additional funds or obtain such on terms satisfactory to the
Company, if at all.
There
is no guarantee we will receive the required financing to complete
our business strategies, and it is uncertain whether future
financing will be available to us on acceptable terms. If financing
is not available on satisfactory terms, we may be unable to
continue, develop or expand our operations.
Off
Balance Sheet Arrangements
We
currently do not have any off-balance sheet
arrangements.
Quantitative
and Qualitative Disclosures about Market Risk
As a
Smaller Reporting Company as defined by Rule 12b-2 of the Exchange
Act and in Item 10(f)(1) of Regulation S-K, we are electing scaled
disclosure reporting obligations and therefore are not required to
provide this information requested by this item.
Controls and Procedures
Disclosure
Controls and Procedures
As
required by Rule 13a-15(b) under the Securities Exchange Act of
1934, or Exchange Act, our principal executive officer and
principal financial officer evaluated our disclosure controls and
procedures (as defined in Rule 13a-15(e) under the Exchange Act) as
of March 31, 2022. Based on this evaluation, these officers
concluded that as of the end of the period covered by this
Quarterly Report on Form 10-Q, these disclosure controls and
procedures were not operating effectively to ensure that the
information required to be disclosed by the Company in reports it
files or submits under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in the
rules and forms of the SEC and include controls and procedures
designed to ensure that such information is accumulated and
communicated to our management, including our principal executive
officer, to allow timely decisions regarding required
disclosure.
Because
of the inherent limitations in all control systems, no evaluation
of controls can provide absolute assurance that all control issues,
if any, within the Company have been detected. These inherent
limitations include the realities that judgments in decision-making
can be faulty and that breakdowns can occur because of simple error
or mistake.
Changes
in Internal Control over Financial Reporting
There
were no changes in our internal control over financial reporting
that occurred during our fiscal quarter ended September 30, 2022,
that materially affected, or are reasonable likely to materially
affect, our internal control over financial reporting.
Our
management, including the Chief Executive Officer assessed the
effectiveness of our internal control over financial reporting as
of September 30, 2022. In making our assessment, we used the
framework and criteria set forth by the Committee of Sponsoring
Organizations of the Treadway Commission (“COSO”) (2013). Based on
that assessment, our management has identified certain material
weaknesses in our internal control over financial
reporting.
Our
management concluded that as of September 30, 2022, our internal
control over financial reporting was not effective, and that
material weaknesses existed in the following areas as of September
30, 2022.
|
(1) |
we do
not employ full time in-house personnel with the technical
knowledge to identify and address some of the reporting issues
surrounding certain complex or non-routine transactions. With
respect to material, complex and non-routine transactions,
management has and will continue to seek guidance from third-party
experts and/or consultants to gain a thorough understanding of
these transactions; |
|
|
|
|
(2) |
we
have inadequate segregation of duties consistent with the control
objectives including but not limited to the disbursement process,
transaction or account changes, and the performance of account
reconciliations and approval; |
|
|
|
|
(3) |
we
have ineffective controls over the period end financial disclosure
and reporting process caused by insufficient accounting
staff. |
PROPERTIES
On
December 17, 2020, Therapeutic Solutions International, Inc. Board
of Directors made a decision to move our corporate headquarters to
Elk City, Idaho 83525 and has purchased real property at 701 Wild
Rose Lane and 50 Bullock Lane, Elk City Idaho 83525.
The
Company continues to maintain a leased satellite office at the
current address of 4093 Oceanside Blvd., Suite B, Oceanside CA,
92056.
GOVERNMENT
REGULATION
The
Company’s business is subject to varying degrees of regulation by a
number of government authorities in the United States, including
the United States Food and Drug Administration (FDA), the Federal
Trade Commission (FTC), and the Consumer Product Safety Commission.
The Company will be subject to additional agencies and regulations
if it enters the manufacturing business. Various agencies of the
state and localities in which we operate and in which our products
are sold also regulate our business, such as the California
Department of Health Services, Food and Drug Branch. The areas of
our business that these and other authorities regulate include,
among others:
|
● |
product
claims and advertising; |
|
● |
product
labels; |
|
● |
product
ingredients; and |
|
● |
how
we package, distribute, import, export, sell and store our
products. |
The
FDA, in particular, regulates the formulation, manufacturing,
packaging, storage, labeling, promotion, distribution and sale of
vitamins and other nutritional supplements in the United States,
while the FTC regulates marketing and advertising claims. The FDA
issued a final rule called “Statements Made for Dietary Supplements
Concerning the Effect of the Product on the Structure or Function
of the Body,” which includes regulations requiring companies, their
suppliers and manufacturers to meet Good Manufacturing Practices in
the preparation, packaging, storage and shipment of their products.
Management is committed to meeting or exceeding the standards set
by the FDA.
The
FDA has also issued regulations governing the labeling and
marketing of dietary and nutritional supplement products. They
include:
|
● |
the
identification of dietary or nutritional supplements and their
nutrition and ingredient labeling; |
|
● |
requirements
related to the wording used for claims about nutrients, health
claims, and statements of nutritional support; |
|
● |
labeling
requirements for dietary or nutritional supplements for which “high
potency” and “antioxidant” claims are made; |
|
● |
notification
procedures for statements on dietary and nutritional supplements;
and |
|
● |
pre-market
notification procedures for new dietary ingredients in nutritional
supplements. |
The
Dietary Supplement Health and Education Act of 1994 (DSHEA) revised
the existing provisions of the Federal Food, Drug and Cosmetic Act
concerning the composition and labeling of dietary supplements and
defined dietary supplements to include vitamins, minerals, herbs,
amino acids and other dietary substances used to supplement diets.
DSHEA generally provides a regulatory framework to help ensure
safe, quality dietary supplements and the dissemination of accurate
information about such products. The FDA is generally prohibited
from regulating active ingredients in dietary supplements as drugs
unless product claims, such as claims that a product may heal,
mitigate, cure or prevent an illness, disease or malady, trigger
drug status.
The
Company is also subject to a variety of other regulations in the
United States, including those relating to taxes, labor and
employment, import and export, and intellectual
property.
Legal
Proceedings
During
the past ten years there have been no events under any bankruptcy
act, no criminal proceedings and no judgments, injunctions, orders
or decrees material to the evaluation of the ability and integrity
of any of the persons nominated to become directors or executive
officers upon closing of the Merger Agreement, and none of these
persons has been involved in any judicial or administrative
proceedings resulting from involvement in mail or wire fraud or
fraud in connection with any business entity, any judicial or
administrative proceedings based on violations of federal or state
securities, commodities, banking or insurance laws or regulations,
or any disciplinary sanctions or orders imposed by a stock,
commodities or derivatives exchange or other self-regulatory
organization.
From
time to time, we may become involved in various lawsuits and legal
proceedings, which arise in the ordinary course of business.
However, litigation is subject to inherent uncertainties, and an
adverse result in these or other matters may arise from time to
time that may harm our business. We are currently not aware of any
such legal proceedings or claims that we believe will have,
individually or in the aggregate, a material adverse effect on our
business, financial condition or operating results.
MANAGEMENT OF THE COMPANY
The
name of the officers and directors of the Company as of October 27,
2022, as well as certain information about them, are set forth
below:
Name |
|
Position |
|
Age |
Executive Officers: |
|
|
|
|
Timothy
G. Dixon |
|
President
and Chief Executive Officer |
|
64 |
Famela
Ramos |
|
Vice
President |
|
45 |
James
Veltmeyer, MD |
|
Chief
Medical Officer |
|
57 |
Feng
Lin, MD, PhD |
|
Chief
Scientific Officer |
|
52 |
Directors: |
|
|
|
|
Thomas
E. Ichim, PhD |
|
Director |
|
47 |
Timothy
G. Dixon |
|
Chairman |
|
64 |
Background of Officers and Directors
Timothy
G. Dixon, CEO, President, and Chairman
Mr.
Dixon currently serves as Chief Executive Officer, President, and
Chairman of Therapeutic Solutions International, Inc. He also
currently serves as Chairman of Campbell Neurosciences, Inc.,
Allogen Biologics, Inc., Res Nova Bio, Inc., and Breathe Biologics,
Inc. Mr. Dixon previously served as the President of TMD Courses,
Inc. from 2006 to 2012 and as the President of Splint Decisions
Inc. from 2010 to 2011. Mr. Dixon has attended hundreds of hours of
continuing medical/dental education throughout the years and has
produced many educational DVDs used by dental professionals
worldwide on the subject of parafunctional control, migraine
prevention, therapeutic Botox injections, migraine pathophysiology,
dental sleep medicine, and other therapeutic protocols. Mr. Dixon
also has extensive experience in dealing with corporate compliance
matters with the U.S. Food and Drug Administration, (FDA) as well
as many international regulatory bodies. Mr. Dixon is inventor and
co-inventor of 60+ patents and patents pending.
James
Veltmeyer, MD – Chief Medical Officer
Dr.
Veltmeyer is a board-certified family physician in La Mesa,
California. A graduate of UC San Diego and the Ross University
School of Medicine, he completed his residency through the UC San
Francisco system where he became Chief of Family Medicine
Residency, overseeing 36 doctors.
Dr.
Veltmeyer, a member of the San Diego Critical Care Medical Group,
has been elected for four years (2012, 2014, 2016, and 2017) by his
colleagues in the San Diego County Medical Society as a “Physician
of Exceptional Excellence,” the most prestigious honor awarded to a
“Top Doctor” in San Diego County. He is among a select group of San
Diego physicians who was chosen four of the last fifteen years and
he consistently ranks in the top 1% to 2% for patient satisfaction.
He is currently the Chief of the Department of Family Medicine at
Sharp Grossmont Hospital where he provides senior leadership to
over 200 doctors.
Feng
Lin, MD, Ph.D., – Chief Scientific Officer
Dr.
Lin has a stellar track record of drug development in the area of
immunology and immuno-oncology having worked with the public
company Inovio Pharmaceuticals, where he developed technologies for
gene delivery and therapeutic DNA vaccines against cancer and
infectious diseases in both R&D and clinical settings.
Subsequently, Dr. Lin served as Director of Chinese Operations for
MediStem Inc, which was acquired by Intrexon in May 2014. It was
the rapid clinical translation model developed by Dr. Lin at
MediStem that resulted in the company’s accelerated FDA clearance
to begin clinical trials, which resulted in the sale of the
company.
Dr.
Lin received his postdoctoral training at the Sanford-Burnham
Medical Research Institute and his MD and Ph.D. at the Xiangya
Medical School of Central South University, China. He has authored
over 20 peer-reviewed scientific publications, including several in
top journals such as Science, Cell, and Cancer Cell. He holds
several patents.
Famela
Ramos – Vice President Business Development
Famela
Ramos is a Nurse, a Researcher, and a Politician. Famela was
running for Congress in the 53nd Congressional District. Ms. Ramos
came to the United States from the Philippines at the age of two,
when her father joined the United States Navy. Her parents worked
tirelessly to support the family of 5 children, all of which became
successful entrepreneurs and Government Employees. As a nurse,
Famela has experience from the beginning of life, having practiced
in pediatric nursing, to the end of life, having worked as a
hospice nurse. Her excellence in nursing and research is attested
by 7 peer reviewed publications that she collaborated with Academy
and Industry in advancing cutting edge research in immunology and
regenerative medicine.
The
first paper, was a collaboration with the Moores Cancer Center and
several biotechnology companies, describing the state of the art in
cancer immunotherapy, and proposing future directions. The second
paper discussed the possibility of stimulating regeneration of
injured lung stem cells using specific types of laser and light
based interventions, this was a collaboration between the
University of Utah and the University of California, San Diego. The
third paper, a collaboration between a nutraceutical company and
Indiana University, demonstrated the beneficial effects of a
nutritional supplement on circulating stem cells in healthy
volunteers. The fourth publication was the first successful use of
two different types of stem cells in a patient with heart failure,
which resulted in a profound improvement. The fifth publication is
a report of 114 patients that were treated with umbilical cord
blood stem cells and demonstrated safety and signals of efficacy in
collaboration with a Chinese Biotech company. The sixth publication
was successful treatment of a spinal cord injury patient with stem
cells. The seventh publication was the basis for an investigational
new drug (IND) application to the FDA, describing use of fat stem
cells to treat aplastic anemia. Ms. Ramos has established the Right
to Try Foundation, which assists companies in utilizing this new
law that allows for accelerated patient access to experimental
medication. Through this Foundation Ms. Ramos facilitated the first
utilization of a cancer vaccine in the United States and has been
assisting both public and private companies. Most recently the
Foundation has collaborated on filing new patents for means of
implementing the Right to Try Law. Ms. Ramos is a board member of
Silent Voices, a Pregnancy Resource Center that provides
counselling to woman in emergency pregnancies, alternatives to
abortion, and for woman that do choose abortion, post abortion
support. Ms. Ramos has been endorsed by business and community
leaders as well as nationally known athletes including Dr. Peter
Farrell, founder of Resmed, a $18 billion company, and Wes
Chandler, an NFL Hall of Fame San Diego Charger.
Thomas
E. Ichim, Ph.D., Director
Dr.
Ichim was appointed to the Board of Directors on January 22, 2016.
Dr. Ichim also served as Chief Executive Officer and Director of
Allogen Biologics, Inc., a subsidiary of TSOI. Dr. Ichim also
serves as Director of Res Nova Bio, Inc. and Breathe Biologics,
Inc, also subsidiaries of TSOI. Dr. Ichim is a seasoned
biotechnology entrepreneur with a track record of scientific
excellence. He has founded/co-founded several companies including
Batu Biologics, Inc., Medvax Pharma Corp, ToleroTech, Inc, bioRASI,
and OncoMune LLC. To date he has published 121 peer-reviewed
articles and is co-editor of the textbooks “RNA Interference: From
Bench to Clinical Translation” and “Immuno-Oncology Text Book.” Dr.
Ichim is an ad-hoc editor and sits on several editorial boards. Dr.
Ichim is inventor on over 135 patents and patent applications. Dr.
Ichim has extensive experience with stem cell therapy and cellular
product development through FDA regulatory pathways. Dr. Ichim
spent over 7 years as the President and Chief Scientific Officer of
Medistem, developing and commercializing a novel stem cell, the
Endometrial Regenerative Cell, through drug discovery,
optimization, preclinical testing, IND filing, and up through Phase
II clinical trials with the FDA. Dr. Ichim has extensive experience
in product development, regulatory filings, and business
development.
Dr.
Ichim has a BSc in Biology from the University of Waterloo,
Waterloo, Ontario, Canada, a MSc in Microbiology and Immunology a
University of Western Ontario, London, Ontario, Canada and a Ph.D.
in Immunology from the University of Sciences Arts and Technology,
Olveston Monserrat.
Scientific Advisory Board
Dr.
Santosh Kesari is a board-certified neurologist and
neuro-oncologist and is currently Chair, Department of
Translational Neuro-Oncology and Neurotherapeutics, John Wayne
Cancer Institute.
He is
also Director of Neuro-Oncology, Providence Saint John’s Health
Center and Member, Los Angeles Biomedical Research Institute. Dr.
Kesari is ranked among the top 1% of neuro-oncologists and
neurologists in the nation, according to Castle Connolly Medical
Ltd and an internationally recognized scientist and clinician. He
is a winner of an Innovation Award by the San Diego Business
Journal. He is on the advisory board of American Brain Tumor
Association, San Diego Brain Tumor Foundation, Chris Elliott Fund,
Nicolas Conor Institute, Voices Against Brain Cancer, and
Philippine Brain Tumor Alliance. He has been the author of over 250
scientific publications, reviews, or books. He is the inventor on
several patents and patent applications, and founder and advisor to
many cancer and neurosciences biotech startups.
Dr.
Kesari has had a long-standing interest in cancer stem cells and
studies their role in the formation of brain tumors and resistance
to treatment. He believes that in order to cure patients with brain
tumors we first need to gain a better molecular and biological
understanding of the disease. A physician/scientist, Kesari
harnesses his experience in surgery, chemotherapy, immunotherapy,
radiation therapy and novel devices to help develop Precision
Therapeutic Strategies that will advance medicine to a new stage in
the battle against brain tumors and eradicate the
disease.
Dr.
Francesco Marincola joined Kite in 2021 as Global Head of Cell
Therapy Research. Before joining Kite, Francesco was President and
Chief Scientific Officer at Refuge Biotechnologies where
responsible for the development and implementation of research and
clinical development strategies for adoptive cell therapy products
and lead therapeutic programs based on nuclease deactivated CRISPR
circuits. He is also a National Institutes of Health (NIH) tenured
senior investigator in cancer immunotherapy and biomarker research,
and spent 23 years at the NIH, including 15 years as the Chief of
the Infectious Disease and Immunogenetics Section at the NIH
Clinical Center. Previously, he also served as a distinguished
research fellow in immune oncology discovery at AbbVie and as Chief
Research Officer at Sidra Research in Doha, Qatar.
The
former President of the Society for Immunotherapy of Cancer (SITC;
2013-2014), Francesco currently serves as Editor-in-Chief for
several prominent peer-reviewed publications, including Journal of
Translational Medicine, Translational Medicine Communications and
Immunotherapy, and is the author of more than 600 peer-reviewed
publications. He has edited several books including the
SITC-affiliated Cancer Immunotherapy Principles and Practice
Textbook.
Dr.
Donald Banerji is a Clinical development professional with 33
years of global clinical research and development experience (Phase
I-IV) in the pharmaceutical industry. Recently retired from
Novartis as Global Clinical Development Head of Respiratory and
Allergy Medicine. Recognized by peers and external scientific
community as an expert in pulmonary and allergy drug development
bringing several iconic brands to market with millions of patients
benefitting from treatment through improving care and outcomes for
patients with respiratory diseases. Managed multidisciplinary teams
in the filing of several new drug applications. Responsibilities
included strategic and tactical planning, regulatory interactions
with global health authorities, appropriate resource and budgetary
management and timely execution, approval of high-quality large
drug development programs and delivery of groundbreaking data.
These global programs over a span of 3 decades resulted in the
approval and competitive labeling of 14 innovative medicines,
including 3 inhaled steroids for asthma, a triple combination of 2
bronchodilator and an inhaled steroid for asthma, 3 non-steroidal
inhaled controller drugs for asthma, 3 intranasal steroids for
allergic rhinitis and 4 bronchodilator drugs for COPD. Signature
achievements at Novartis included first to market with the
development and approval of the first to market inhaled dual
combination medicine in COPD (Ultibro) and the first to market
triple combination medicine in asthma (Enerzair). With reimagining
medicine as a core driver, these treatments changed the practice of
medicine and were incorporated in global treatment guidelines for
COPD and asthma. Recipient of numerous corporate awards including
the highest scientific award of Distinguished Scientist 2016 for
pioneering work in COPD. Published over 400 primary manuscripts and
abstracts, including the landmark study FLAME in NEJM.
Francisco
Silva joined BRT (BioRestorative Therapies, Inc.) in April 2011
and is Vice President of Research and Development. Mr. Silva is
responsible for all laboratory operations and is involved in the
development and growth of our stem cell programs. Mr. Silva
previously served as Chief Executive Officer of two companies
engaged in the commercialization of human-based biologics for both
research and therapeutic applications.
From
2003 to 2007, Mr. Silva was Vice President of Research and
Development for PrimeGen Biotech LLC, a company engaged in the
development of cell-based platforms. He was responsible for the
development of experimental designs that focused on germ line
reprogramming stem cell platforms. Mr. Silva has taught courses in
biology, anatomy and advanced tissue culture at California State
Polytechnic University. He has obtained a number of patents
relating to stem cells and has had numerous articles published with
regard to stem cell research.
Mr.
Silva graduated from California State Polytechnic University with a
degree in Biology. He also obtained a Graduate Presidential
Fellowship and MBRS Fellowship from California State Polytechnic
University.
Dr.
Boris Reznik is the Chairman of Venvalo Group, a venture value
optimization firm. During his career, Dr. Reznik founded and built
technology companies into market leaders and successfully dealt
with both Fortune 500 and emerging companies as clients and
partners. He has been a lead or co-investor in startups and
mid-market firms and has participated in M&A transactions
ranging from Millions to Billions. Dr. Reznik has a depth of
experience in processes and systems and a unique perspective in the
drug and device development world. As the Chairman of BioRASI, a
global CRO, he led development of novel therapeutics, from filing
INDs to getting approved NDAs, for companies ranging from startups
to Big Pharma.
Dr.
Boris Minev is a highly accomplished physician-scientist with
extensive industrial and academic experience in Immuno-Oncology,
oncolytic viruses and stem cell biology and applications. He has a
significant track record in tumor immunology and cancer vaccine
development, having worked closely on the development of the first
cancer vaccine to be approved by a regulatory body (Melacine). Dr.
Minev has also extensive expertise in immunotherapy clinical trial
designs, logistics, and regulatory issues. He has a considerable
supervision & management experience in industrial and academic
settings and has excellent skills in biotech business development,
communication, and collaboration. Previously he held a position as
the Director of Immunotherapy and Translational Oncology at Genelux
Corporation, where he was directing several preclinical and
translational projects on oncolytic virotherapy, immunotherapy, and
nanotechnology.
Dr.
Minev is also an adjunct professor at the Moores UCSD Cancer
Center. There, he served previously as Principal Investigator and
Director, Laboratory of Tumor Immunology and Immunotherapy where,
for more than 15 years, his research has been focused on the
discovery of new target antigens for immunotherapy of cancer and
the development of optimized cancer vaccines. Prior to that, Dr.
Minev worked in Dr. Steven Rosenberg’s Tumor Immunology Section at
the Surgery Branch of the National Cancer Institute.
Dr.
Minev is an Advisory Board Member of the European Society for
Translational Medicine (EUSTM). He is a member of the Scientific
and Clinical Advisory Boards of several biotechnology companies and
has been an advisor for Amgen, Johnson & Johnson, Geron
Corporation, McKinsey Consulting and Thomson Current Drugs, among
others. He is the recipient of the European Association of Cancer
Research Fellowship and the Fogarty International
Fellowship.
Dr.
Pablo Guzman is a cardiologist in Fort Lauderdale, Florida
where he is on staff at Holy Cross Hospital. He received his
medical degree from University of Puerto Rico School of Medicine
and his Cardiology Fellowship at The Johns Hopkins Hospital where
he then spent the first part of his career continuing his basic
science and clinical research along with his clinical duties. His
CV includes over 25 papers published in peer-reviewed journals and
more than 15 abstracts.
He is
a Fellow of the American College of Cardiology and practiced for
more than 30 years. Dr. Guzman is well experienced in basic and
clinical research, having participated in many clinical trials. He
is also the acting Chief Medical Officer of Variant
Pharmaceuticals, a Specialty Pharma company developing treatments
for kidney diseases.
Dr.
Juergen Winkler is presently practicing at Quantum Functional
Medicine in Carlsbad, CA, which he founded in July of 2012. In 2005
he was the co-founder of Genesis Health Systems (Integrative Cancer
and Medical Treatment Center) located in Oceanside, CA. He has been
a featured speaker for: the NSCC Women’s Health Seminar, Annual
IPT/IPTLD Integrative Cancer Care Conference (Multiple years),
Health Freedom Expo 2011 & 2012, the Japanese Society of
Oxidative Medicine in Osaka Japan, ACOSPM 2010 & 2011
conferences, NSCC Health and Wellness Series 2013, and various
other events. He is the physician author of Chapter 5 in the Defeat
Cancer book and has been a featured physician in the Townsend
Letter.
Dr.
Nassir Azimi is a cardiologist in La Mesa, California and
attended Dartmouth Medical School and completed his residency at
the University of Colorado. He finished his four year fellowship in
Cardiovascular and Peripheral Interventions at Yale University in
New Haven. Dr. Azimi has been in private practice for over 13 years
establishing a thriving clinical practice for cardiac patients as
well as treating patients for peripheral vascular disease. He is
active in Interventional Cardiology and Peripheral Interventions.
Dr. Azimi is the director of La Mesa Cardiac Center’s Nuclear
Cardiology Laboratory. He is also an investigator in multiple
clinical research studies for various cardiac and peripheral
diseases. He has been recognized as San Diego’s Top Interventional
Cardiologists by San Diego Magazine 2013,2014,2016, 2017 and also
by Castle Connoly for 2013, 2014, 2015,2016, 2017, and 2018. He is
a former chief of biomedical ethics (6 years), former chief of
Medicine and former chief of Endovascular Medicine as well as Vice
Chief of Cardiology at SGH. He is on the board of directors of the
California ACC where he serves as chair of the public relations
committee. He is on Editorial Review Board for multiple medical
journals. He is a national speaker on various topics in cardiology
and internal medicine.
Dr.
James Veltmeyer is a board-certified family physician in La
Mesa, California. A graduate of UC San Diego and the Ross
University School of Medicine, he completed his residency through
the UC San Francisco system where he became Chief of Family
Medicine Residency, overseeing 36 doctors. Dr. Veltmeyer, a member
of the San Diego Critical Care Medical Group, has been elected for
four years (2012, 2014, 2016, and 2017) by his colleagues in the
San Diego County Medical Society as a “Physician of Exceptional
Excellence,” the most prestigious honor awarded to a “Top Doctor”
in San Diego County. He is among a select group of San Diego
physicians who was chosen four of the last fifteen years and he
consistently ranks in the top 1% to 2% for patient satisfaction. He
is currently the Chief of the Department of Family Medicine at
Sharp Grossmont Hospital where he provides senior leadership to
over 200 doctors.
Dr.
Barry Glassman, DMD, DAAPM, DAACP, FICCMO, Diplomate ABDSM,
FADI, is a Diplomate of the American Academy of Craniofacial Pain
and the American Academy of Pain Management, as well as a Fellow of
the International College of Craniomandibular Orthopedics and the
Academy of Dentistry International, he is also on staff at the
Lehigh Valley Hospital where he serves as a resident instructor of
Craniofacial Pain and Dysfunction and Dental Sleep
Medicine.
Dr.
Glassman is a Diplomate of the Academy of Dental Sleep Medicine. He
is on the staff at the Sacred Heart Hospital Sleep Disorder Center,
as well as serving as the Chief Dental Consultant to three other
sleep centers in the Lehigh Valley. A popular and dynamic speaker,
Dr. Glassman lectures internationally, as well as throughout the
United States. In addition to his extensive schedule which includes
guest lecture appearances and in-depth courses on joint
dysfunction, chronic pain, headache, sleep disorders, and migraine
headache, Dr. Glassman is a frequent speaker at major chronic pain
and joint dysfunction professional conferences. A graduate of the
University of Pittsburgh: Bachelor of Science 1969, Pittsburgh,
Pennsylvania University of Pittsburgh School of Dental Medicine;
D.M.D. 1973, Pittsburgh Pennsylvania Post Graduate Hours in
Craniomandibular Dysfunction and Sleep Disorders: Over
2500
J.
Christopher Mizer founded Vivaris in June of 1998. Vivaris
(formerly Lake Erie Capital) invests in and acquires middle-market
businesses in a broad range of industries that are leaders in their
market niches. Mr. Mizer serves as the chairman of each of the
portfolio companies and guides key strategic decisions and their
execution. He also serves as the operating president on an interim
basis when companies are going through periods of ownership
succession and new management team members are being
assembled.
Mr.
Mizer is a former Vice President and Officer of the investment
banking division of Key Capital Markets, where he focused on
merger, acquisition, and financing projects for Fortune 500
clients, private companies, and successful entrepreneurs. Prior to
joining Key Corp., he was Consultant in the Capital Markets
practice with Ernst & Young. He began his career as a Research
Assistant with The Center for Economic Issues, a think-tank focused
on economic development. He earned the B.S. (biology, applied
math), B.A. (economics), M.S. degrees (biology – neurogenetics),
and MBA (finance, accounting) degrees from Case Western Reserve
University. Mr. Mizer has taught business strategy, finance and
entrepreneurship at the graduate level at Case Western Reserve
University, John Carroll University, and the University of
California, San Diego and at the undergraduate at San Diego State
University.
Howard
Leonhardt is an inventor and serial entrepreneur. He has 21
U.S. patents with over 100 patent claims for products for treating
cardiovascular disease and has over 40 new patent claims pending.
His TALENT (Taheri-Leonhardt) stent graft developed in the early
1990′s holds a leading world market share for repairing aortic
aneurysms without surgery.
His
inventions have treated over 500,000 patients in 60 countries. In
early 1999 Leonhardt founded Bioheart, Inc. www.bioheartinc.com a
leader in applying adult muscle stem cells to treat heart failure..
Leonhardt holds a Diploma in International Trade from Anoka
Technical College. He attended the University of Minnesota,Anoka
Ramsey College and UCLA Extension. He holds an honorary Doctorate
in Biomedical Engineering from the University of Northern
California and is an honorary alumnus of the University of Florida
and Florida International University. He is co-leader of Startup
California and Founder and Chairman of The California Stock
Exchange TM (Cal-X) preparing to be the first social good impact
stock exchange currently operating the Cal-X 30 Social Good Impact
fund powered by Motif Investing- www.calstockexchange.com – He
founded Cal-X Crowdfund Connect www.calxcrowdfund.com a
crowdfunding campaign management co. and Cal-X Stars Business
Accelerator, Inc.www.calxstars.com a business incubator and
accelerator focused on cardiovascular life sciences and social good
impact innovations.
There
are 30 regenerative medtech and regenerative economy startups in
the current portfolio class. His Leonhardt Ventures angels network
has raised and put to work over $145 million in 32 companies to
date, most of them founded by Leonhardt. BioLeonhardt
www.bioleonhardt.com is developing the first implantable
programmable and re-fillable stem cell pump. He leads CerebraCell
for brain regeneration. EyeCell for eye regeneration and AortaCell
for aorta regeneration and number of other organ regeneration spin
offs from his patented core technologies. Leonhardt serves as state
spokesperson in California for the JOBS ACT and Crowdfunding for
Startup California and has given over 40 speeches on the subject.
He has operated Leonhardt’s Launchpads NorCal at the University of
Northern California Science & Technology Innovation Center in
Rohnert Park, CA since 2008 and recently opened Leonhardt’s
Launchpads Utah in Salt Lake City just off the campus of the
University of Utah. He has served on the Board of Directors of the
University of Northern California, a private biomedical engineering
school, since 1999.
Family Relationships
There
are no family relationships between any director or executive
officer.
Director Independence
We do
not have standing compensation, nominating, or audit committees of
the board of directors, or committees performing similar functions.
We intend to form these committees in the near future.
Certain Relationships and Related Transactions
Our
Board of Directors currently consists of two directors, one of whom
is an officer of the Company. As of December 31, 2021, we disclose
that we had no independent directors.
In
general, it is our policy to submit all proposed related party
transactions (those of the kind and size that may require
disclosure under Regulation S-K, Item 404) to the Board of
Directors for approval. The Board of Directors only approves those
transactions that are on terms comparable to, or more beneficial to
us than, those that could be obtained in arm’s length dealings with
an unrelated third party. Examples of related party transactions
covered by our policy are transactions in which any of the
following individuals has or will have a direct or indirect
material interest: any of our directors or executive officers, any
person who is known to us to be the beneficial owner of more than
5% of our common stock, and any immediate family member of one of
our directors or executive officers or person known to us to be the
beneficial owner of more than 5% of our common stock.
EXECUTIVE COMPENSATION
Summary
Compensation Table
The
following table summarizes the compensation paid, with respect to
years ended December 31, 2021 and 2020 for services rendered to us
in all capacities, to each person who served as an executive
officer of the Company:
Name
and Principal Position |
|
Year |
|
|
Salary
($)
|
|
|
Bonus
($)
|
|
|
Stock
Awards
($)
|
|
|
Option
Awards
($)
|
|
|
Nonequity
Incentive
Plan
Compensation
($)
|
|
|
All
Other
Compensation
($)
|
|
|
Total
($)
|
|
Timothy
G. Dixon |
|
|
2021 |
|
|
|
227,000 |
(1) |
|
|
- |
|
|
|
367,600 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
594,600 |
|
President,
CEO and CFO |
|
|
2020 |
|
|
|
195,500 |
(2) |
|
|
- |
|
|
|
411,900 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
607,400 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dr.
James Veltmeyer |
|
|
2021 |
|
|
|
- |
|
|
|
- |
|
|
|
32,000 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
32,000 |
|
Chief
Medical Officer |
|
|
2020 |
|
|
|
- |
|
|
|
- |
|
|
|
129,100 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
129,100 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Feng
Lin |
|
|
2021 |
|
|
|
- |
|
|
|
- |
|
|
|
32,000 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
32,000 |
|
Chief
Scientific Officer |
|
|
2020 |
|
|
|
- |
|
|
|
- |
|
|
|
125,600 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
125,600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Famela
Ramos |
|
|
2021 |
|
|
|
- |
|
|
|
- |
|
|
|
79,300 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
79,300 |
|
Vice
President Business Development, |
|
|
2020 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
(1) |
$120,000
was accrued and paid with stock as of December 31, 2021 |
|
|
|
|
(2) |
$60,000
was accrued and unpaid as of December 31, 2020 |
Outstanding
Equity Awards
None
Employment
Agreements
We do
not have any employment agreements as of September 30,
2022.
Director
Compensation
When
our employees serve on our Board of Directors, we do not give them
any additional compensation in respect of such Board service.
Directors currently serve without compensation.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEGMENT AND RELATED STOCKHOLDERS MATTERS
The
following table sets forth, as of January 06, 2023, information
regarding the ownership of the Company’s outstanding shares of
common stock by (i) each person known to management to own,
beneficially or of record, more than 5% of the outstanding shares
of our common stock, (ii) each director of the Company, (iii) each
executive officer of the Company, and (iv) all directors and
executive officers as a group. As of January 13, 2023, a total of
2,656,578,599(2) shares of our common stock were
outstanding.
Name
of Beneficial Owners(1) |
|
Amount
and Nature of Beneficial Ownership |
|
|
Percent
of Shares Outstanding |
|
Timothy
G. Dixon (i) |
|
|
288,993,103 |
|
|
|
10.87 |
% |
Thomas
E. Ichim (ii) |
|
|
122,000,000 |
|
|
|
04.59 |
% |
Jadi
Cell LLC |
|
|
149,402,390 |
|
|
|
05.62 |
% |
John
Peck |
|
|
169,533,333 |
|
|
|
06.38 |
% |
All
directors and executive officers as a group (2 persons)
i)(ii) |
|
|
410,993,103 |
|
|
|
15.47 |
% |
(1) |
Under
SEC rules (i) a person is deemed to be the beneficial owner of
shares if that person has, either alone or with others, the power
to vote or dispose of those shares. The persons named in the table
have sole voting and dispositive power with respect to all shares
shown as beneficially owned by them, subject to community property
laws where applicable. |
(2) |
Issued
and outstanding increased from registration date to the date of
this prospectus due to end of 4th Quarter accounting ending
12/31/2022 including Tim Dixon Board authorized conversion of
$20,000.00 in past 90 days accrued salary into 4,081,632 shares;
and Board authorized grant award of common stock to Dr. Ichim of
4,000,000 shares; Board grants a Stock Award to Mr. Dixon and Dr.
Ichim, of 4,000,000 shares each; and 2,000,000 shares for Dr. Lin,
Dr. Veltmeyer, Ms. Ramos, and Ms. Barnes each; and 1,000,000 shares
for Ms. Kalina O’Connor for collaboration on 11 patents in FY
2022.
|
SELLING SHAREHOLDERS
The
table below sets forth information concerning the resale of the
shares of common stock by GHS, the Selling Shareholder. We will not
receive any proceeds from the resale of the common stock by the
Selling Shareholder. None of the Selling Shareholder is a
registered broker-dealer.
The
following table also sets forth the name of each person who is
offering the resale of shares of common stock by this Prospectus,
the number of shares of common stock beneficially owned by each
person, the number of shares of common stock that may be sold in
this offering and the percentage each person will own after the
offering, assuming they sell all of the shares offered:
Name |
|
Amount
Beneficial
Ownership
Before Offering1 |
|
|
Percentage
of Common Stock
Owned Before
Offering1 |
|
|
Amount
to be
Offered for the
Security Holders’
Account |
|
|
Amount
to be
Beneficially
Owned After
Offering1 |
|
|
Percentage
of Common
Stock Owned
After Offering2 |
|
GHS |
|
|
5,000,000 |
|
|
|
0.018 |
% |
|
$ |
10,000,000 |
|
|
|
|
|
|
|
TBD |
% |
|
|
|
|
|
|
|
0.0 |
% |
|
|
0 |
|
|
|
|
|
|
|
0.00 |
% |
TOTAL |
|
|
5,000,000 |
|
|
|
0.018 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
(1)
The
number and percentage of shares beneficially owned is determined in
accordance with Rule 13d-3 of the Exchange Act and the information
is not necessarily indicative of beneficial ownership for any other
purpose. Under such rule, beneficial ownership includes any shares
as to which the selling shareholder has sole or shared voting power
or investment power and also any shares that the selling
shareholder has the right to acquire within 60 days. The 5,000,000
shares were acquired by GHS on 9/20/2022 as commitment shares for
entering into the securities Purchase Agreement.
(2)
Assumes that all of the Purchase Shares held by the selling
stockholder covered by this prospectus are sold and that the
selling stockholder acquires no additional shares of common stock
before the completion of this offering. However, as the selling
stockholder can offer all, some, or none of their Purchase Shares,
no definitive estimate can be given as to the number of Purchase
Shares that the selling stockholders will ultimately offer or sell
under this prospectus. In addition, as the number of shares per put
is determined by current market price, not definitive estimate can
be given as to number of shares ultimately owned by GHS or their
percentage of beneficial ownership.
DESCRIPTION OF CAPITAL
STOCK
General
This
prospectus describes the general terms of our capital stock. The
following description is not complete and may not contain all the
information you should consider before investing in our capital
stock. For a more detailed description of these securities, you
should read the applicable provisions of Nevada law and our amended
and restated certificate of incorporation, as amended, referred to
herein as our certificate of incorporation, and our amended and
restated bylaws, referred to herein as our bylaws. When we offer to
sell a particular series of these securities, we will describe the
specific terms of the series in a supplement to this Prospectus.
Accordingly, for a description of the terms of any series of
securities, you must refer to both the prospectus supplement
relating to that series and the description of the securities
described in this prospectus. To the extent the information
contained in the prospectus supplement differs from this summary
description, you should rely on the information in the prospectus
supplement.
As of
January 6, 2023, our authorized capital stock consists of an
aggregate of 4,505,000,000 shares, comprised of 4,500,000,000
shares of common stock, par value $0.001 per share, and 5,000,000
shares of preferred stock, which may be issued in various series
from time to time and the rights, preferences, privileges and
restrictions of which shall be established by our board of
directors. As of January 6, 2023, we have 2,656,578,599 shares of
Common Stock and 2 Series A Preferred shares issued and
outstanding.
Common Stock
Holders
of shares of our common Stock are entitled to one vote for each
commons share held on all matters submitted to a vote of our
security holders and do not have cumulative voting rights.
Accordingly, holders of a majority of the shares of our common
stock entitled to vote in any election of directors may elect all
of the directors standing for election. Subject to preferences that
may be applicable to any shares of preferred stock outstanding at
the time, holders of shares of our common stock are entitled to
receive dividends ratably, if any, as may be declared from time to
time by our board of directors out of funds legally
available.
Upon
our liquidation, dissolution or winding, holders of shares of our
common stock are entitled to receive ratably, our net assets
available after the payment of:
|
● |
all
secured liabilities, including any then outstanding secured debt
securities which we may have issued as of such time; |
|
● |
all
unsecured liabilities, including any then outstanding unsecured
debt securities which we may have issued as of such time;
and |
|
● |
all
liquidation preferences on any then outstanding preferred
stock. |
Holders of shares of our common stock have no preemptive,
subscription, redemption or conversion rights, and there are no
redemption or sinking fund provisions applicable to our common
shares. The outstanding shares of our common stock are, and the
shares offered by us in this Offering will be, when issued and paid
for, duly authorized, validly issued, fully paid and
non-assessable. The rights, preferences and privileges of holders
of shares of our common stock are subject to, and may be adversely
affected by, the rights of the holders of shares of any series of
preferred stock that we may designate and issue in the
future.
The
payment of dividends upon our shares of our common stock is solely
within the discretion of our board of directors and dependent upon
our financial condition, results of operations, capital
requirements, restrictions contained in our current or future
financing instruments and any other factors our board of directors
may deem relevant. We have never declared or paid any dividends on
our common shares. We currently intend to retain our future
earnings, if any, to finance the development and expansion of our
business and do not intend on paying any dividends in the
foreseeable future.
Dividend Policy
We
have never declared or paid any cash dividends on our common
stock.
Transfer Agent and Registrar
The
transfer agent and registrar for our common stock is New Horizon
Transfer, Inc., located at 202-515 West Pender Street, Vancouver,
BC V6B 6H5, (604) 876-5526.
Listing
Our
common stock is not listed on a national securities exchange but is
quoted for trading on the OTC Pink Sheets operated by OTC Markets
Group, Inc., at the OTCPK tier under the symbol “TSOI.” We have not
applied to list our common stock on any other exchange or quotation
system.
Limitations on Directors’ Liability
Our
articles of incorporation and bylaws contain provisions
indemnifying our directors and officers to the fullest extent
permitted by Nevada law. Section 78.7502 of the Nevada Revised
Statutes provides in part that a corporation shall have the power
to indemnify any person who was or is a party or is threatened to
be made a party to any threatened, pending or completed action,
suit or proceeding (other than an action by or in the right of the
corporation) by reason of the fact that such person is or was a
director, officer, employee or agent of another corporation or
other enterprise, against expenses (including attorneys’ fees),
judgments, fines and amounts paid in settlement actually and
reasonably incurred by him in connection with such action, suit or
proceeding if he acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the
corporation, and with respect to any criminal action or proceeding,
had no reasonable cause to believe her conduct was
unlawful.
The
effect of these provisions is to restrict our rights and the rights
of our stockholders in derivative suits to recover monetary damages
against a director for breach of the director’s fiduciary duty as a
director, except that a director will be personally liable
for:
● any
breach of his or her duty of loyalty to us or our
stockholders;
●
acts or omissions not in good faith which involve intentional
misconduct or a knowing violation of law;
● the
payment of dividends or the redemption or purchase of stock in
violation of state or federal law; or
● any
transaction from which the director derived an improper personal
benefit.
This
provision does not affect a director’s liability under the federal
securities laws.
To
the extent that our directors, officers and controlling persons are
indemnified under the provisions contained in our articles of
incorporation, bylaws or Nevada law against liabilities arising
under the Securities Act, we have been advised that in the opinion
of the SEC, such indemnification is against public policy as
expressed in the Securities Act and is therefore
unenforceable.
Provisions of our Certificate of Incorporation, Bylaws and Nevada
Law that May Have an Anti-Takeover Effect
Certain
provisions set forth in our articles of incorporation and bylaws,
as well as Nevada statutes could have the effect of discouraging
potential acquisition proposals or making a tender offer or
delaying or preventing a change in control, including changes a
stockholder might consider favorable. Such provisions may also
prevent or frustrate attempts by our stockholders to replace or
remove our management.
Articles
of Incorporation and Bylaws
In
particular, articles certificate of incorporation and bylaws, among
other things:
●
authorize our board of directors to designate and issue, without
further action by the stockholders, up to 5,000,000 shares of
undesignated preferred stock;
●
provide that vacancies on the board of directors may be filled by a
majority of directors in office, although less than a quorum, or by
the sole remaining director; and,
●
provide the board of directors with the ability to alter the bylaws
without stockholder approval.
Nevada Anti-Takeover Laws
As a
Nevada corporation, we are subject to certain anti-takeover
provisions that apply to public corporations under Nevada law.
Pursuant to Section 607.0901 of the Nevada Business Corporation
Act, or the Nevada Act, a publicly held Nevada corporation may not
engage in a broad range of business combinations or other
extraordinary corporate transactions with an interested shareholder
without the approval of the holders of two-thirds of the voting
shares of the corporation (excluding shares held by the interested
shareholder), unless:
● the
transaction is approved by a majority of disinterested directors
before the shareholder becomes an interested
shareholder;
● the
interested shareholder has owned at least 80% of the corporation’s
outstanding voting shares for at least five years preceding the
announcement date of any such business combination;
● the
interested shareholder is the beneficial owner of at least 90% of
the outstanding voting shares of the corporation, exclusive of
shares acquired directly from the corporation in a transaction not
approved by a majority of the disinterested directors;
or
● the
consideration paid to the holders of the corporation’s voting stock
is at least equal to certain fair price criteria.
An
interested shareholder is defined as a person who, together with
affiliates and associates, beneficially owns more than 10% of a
corporation’s outstanding voting shares. We have not made an
election in our amended Articles of Incorporation to opt out of
Section 607.0901.
In
addition, we are subject to Section 607.0902 of the Nevada Act
which prohibits the voting of shares in a publicly held Nevada
corporation that are acquired in a control share acquisition unless
(i) our board of directors approved such acquisition prior to its
consummation or (ii) after such acquisition, in lieu of prior
approval by our board of directors, the holders of a majority of
the corporation’s voting shares, exclusive of shares owned by
officers of the corporation, employee directors or the acquiring
party, approve the granting of voting rights as to the shares
acquired in the control share acquisition. A control share
acquisition is defined as an acquisition that immediately
thereafter entitles the acquiring party to 20% or more of the total
voting power in an election of directors.
Preferred Stock
Our
articles of incorporation, and its amendments, empowers our board
of directors, without action by our shareholders, to designate and
issue up to 5,000,000 shares of preferred stock from time to time
in one or more series, which preferred stock may be offered by this
prospectus and supplements thereto.
Nevada
law provides that the holders of preferred stock will have the
right to vote separately as a class on any proposal involving
fundamental changes in the rights of holders of that preferred
stock. This right is in addition to any voting rights provided for
in the applicable certificate of designation.
We
will fix the rights, preferences, privileges and restrictions of
the preferred stock of each series in a certificate of designation
relating to that series filed with the State of Nevada. We will
file as an exhibit to the registration statement of which this
Prospectus is a part or will incorporate by reference if so
entitled, from a current report on Form 8-K that we file with the
SEC, the form of any certificate of designation that describes the
terms of the series of preferred stock we are offering before the
issuance of the related series of preferred stock. This description
will include any or all of the following, as required:
● the
title and stated value;
● the
number of shares we are offering;
● the
liquidation preference per share;
● the
purchase price;
● the
dividend rate, period and payment date and method of calculation
for dividends;
●
whether dividends will be cumulative or non-cumulative and, if
cumulative, the date from which dividends will
accumulate;
● any
contractual limitations on our ability to declare, set aside or pay
any dividends;
● the
procedures for any auction and remarketing, if any;
● the
provisions for a sinking fund, if any;
● the
provisions for redemption or repurchase, if applicable, and any
restrictions on our ability to exercise those redemption and
repurchase rights;
● any
listing of the preferred stock on any securities exchange or
market;
●
whether the preferred stock will be convertible into our common
stock, and, if applicable, the conversion price, or how it will be
calculated, and the conversion period;
●
whether the preferred stock will be exchangeable into debt
securities, and, if applicable, the exchange price, or how it will
be calculated, and the exchange period;
●
voting rights, if any, of the preferred stock;
●
preemptive rights, if any;
●
restrictions on transfer, sale or other assignment, if
any;
●
whether interests in the preferred stock will be represented by
depositary shares;
● a
discussion of any material or special United States federal income
tax considerations applicable to the preferred stock;
● the
relative ranking and preferences of the preferred stock as to
dividend rights and rights if we liquidate, dissolve or wind up our
affairs;
● any
limitations on issuance of any class or series of preferred stock
ranking senior to or on a parity with the series of preferred stock
as to dividend rights and rights if we liquidate, dissolve or wind
up our affairs; and
● any
other specific terms, preferences, rights or limitations of, or
restrictions on, the preferred stock.
If we
issue shares of preferred stock under this prospectus, after
receipt of payment therefor, the shares will be fully paid and
non-assessable.
Our
board of directors may authorize the issuance of preferred stock
with voting or conversion rights that could adversely affect the
voting power or other rights of the holders of our common stock.
Preferred stock could be issued quickly with terms designed to
delay or prevent a change in control of our Company or make removal
of management more difficult. Additionally, the issuance of
preferred stock could have the effect of decreasing the market
price of our common stock.
Existing Preferred Stock
The
Company currently has one classes or series of preferred stock
designated: the Series A Preferred Stock. As of January 14, 2023,
two shares of Series A Preferred Stock are outstanding leaving
4,998,000 treasury preferred. No other shares of preferred stock
are issued or outstanding.
Series A Preferred Stock
On
August 4, 2022, the Board of Directors designated “Series A
Preferred Stock” and caused to be filed a Certificate of
Designation pursuant to NRS 78.1955 with the State of Nevada, and
upon approval the Board has issued One (1) share of Series A
Preferred Stock to Thomas E. Ichim, and One (1) share of Series A
Preferred Stock to Timothy G. Dixon. The Holder of the Series A
Preferred Stock shall be entitled to vote on all matters subject to
a vote or written consent of the holders of the Corporation’s
Common Stock, and on all such matters, the share of Series A
Preferred Stock shall be entitled to that number of votes equal to
the number of votes that all issued and outstanding shares of
Common Stock and all other securities of the Corporation are
entitled to, as of any such date of determination, on a fully
diluted basis, plus One Million (1,000,000) votes, it being the
intention that the Holder(s) of the Series A Preferred Stock shall
have effective voting control of the Corporation, on a fully
diluted basis. The Holder(s) of the Series A Preferred Stock shall
vote together with the holders of Common Stock as a single
class.
PLAN OF DISTRIBUTION
This
prospectus relates to the resale of up to 555,000,000 shares of
common stock, issuable to GHS, the Selling Shareholder, pursuant to
a “Purchase Notice” under an securities Purchase Agreement, dated
September 19, 2022, that we entered into with GHS. The agreement
permits us to issue Purchase Notices to GHS for up to ten million
dollars ($10,000,000) in shares of our common stock for 24 months
or until $10,000,000 of such shares have been subject of a Purchase
Notice. GHS may sell all or a portion of the shares being offered
pursuant to this prospectus at fixed prices, at prevailing market
prices at the time of sale, at varying prices or at negotiated
prices.
The
purchase price of the common stock will be set at eighty percent
(80%) of the VWAP (volume weighted average price) of the common
stock during the ten (10) consecutive trading day period
immediately preceding the date on which the Company delivers a put
notice to GHS, not including settlement date. In addition, there is
an ownership limit for GHS of 4.99%.
The
selling shareholder may, from time to time, sell any or all of
shares of our common stock covered hereby on the OTC Markets, or
any other stock exchange, market or trading facility on which the
shares are traded or in private transactions. A selling shareholder
may sell all or a portion of the shares being offered pursuant to
this prospectus at fixed prices, at prevailing market prices at the
time of sale, at varying prices or at negotiated prices. A selling
shareholder may use any one or more of the following methods when
selling securities:
|
● |
ordinary
brokerage transactions and transactions in which the broker-dealer
solicits purchasers; |
|
● |
block
trades in which the broker-dealer will attempt to sell the shares
as agent but may position and resell a portion of the block as
principal to facilitate the transaction; |
|
● |
purchases
by a broker-dealer as principal and resale by the broker-dealer for
its account; |
|
● |
an
exchange distribution in accordance with the rules of the
applicable exchange; |
|
● |
privately
negotiated transactions; |
|
● |
in
transactions through broker-dealers
that agree with the selling stockholder to sell a specified number
of such securities at a stipulated price per security; |
|
● |
through
the writing or settlement of options or other hedging transactions,
whether through an options exchange or otherwise; |
|
● |
a
combination of any such methods of sale; or |
|
● |
any
other method permitted pursuant to applicable law. |
The
selling stockholder may also sell securities under Rule 144 under
the Securities Act of 1933, if available, rather than under this
prospectus.
Broker-dealers
engaged by the selling stockholder may arrange for other
brokers-dealersto
participate in sales. Broker-dealers may receive commissions or
discounts from the selling stockholder (or, if any broker-dealer
acts as agent for the purchaser of securities, from the purchaser)
in amounts to be negotiated, but, except as set forth in a
supplement to this prospectus, in the case of an agency transaction
not in excess of a customary brokerage commission in compliance
with FINRA Rule 2440; and in the case of a principal transaction a
markup or markdown in compliance with FINRA IM-2440.
In
connection with the sale of the securities or interests therein,
the selling shareholder may enter into hedging transactions with
broker-dealers or other financial institutions, which may in turn
engage in short sales of the securities in the course of hedging
the positions they assume. The selling shareholder may also sell
securities short and deliver these securities to close out its
short positions, or loan or pledge the securities to broker-dealers
that in turn may sell these securities. The selling shareholder may
also enter into option or other transactions with broker-dealers or
other financial institutions or create one or more derivative
securities which require the delivery to such broker-dealer or
other financial institution of securities offered by this
prospectus, which securities such broker-dealer or other financial
institution may resell pursuant to this prospectus (as supplemented
or amended to reflect such transaction).
GHS
is an underwriter within the meaning of the Securities Act of 1933
and any broker-dealers or agents that are involved in selling the
shares may
be deemed to be “underwriters” within the meaning of the Securities
Act of 1933 in connection with such sales. In such event, any
commissions received by such broker-dealers or agents and any
profit on the resale of the shares purchased by them may be deemed
to be underwriting commissions or discounts under the Securities
Act of 1933. We are required to pay certain fees and expenses
incurred by us incident to the registration of the
securities.
The
selling shareholder will be subject to the prospectus
delivery requirements of the Securities Act of 1933 including Rule
172 thereunder.
The
resale securities will
be sold only through registered or licensed brokers or dealers if
required under applicable state securities laws. In addition, in
certain states, the resale securities covered hereby may not be
sold unless they have been registered or qualified for sale in the
applicable state or an exemption from the registration or
qualification requirement is available and is complied
with.
Regulation M
Regulation
M is intended to preclude manipulative conduct by persons with an
interest in the outcome of an offering.Under
applicable rules and regulations under the Securities Exchange Act
of 1934, any person engaged in the distribution of the resale
securities may not simultaneously engage in market making
activities with respect to the common stock for the applicable
restricted period, as defined in Regulation M, prior to the
commencement of the distribution. In addition, the selling
stockholder will be subject to applicable provisions of the
Securities Exchange Act of 1934 and the rules and regulations
thereunder, including Regulation M, which may limit the timing of
purchases and sales of securities of the common stock by the
selling stockholder or any other person.
In general, Rule 101 of Regulation M prohibits distribution
participants and their affiliated purchasers from bidding for,
purchasing, or attempting to induce any person to bid for or
purchase, a covered security during a specified period (restricted
period). Consequently, Regulation M may prohibit GHS and any other
distribution participants that are participating in the
distribution of the Company’s securities from purchasing shares in
the open market during the time period the equity line financing
provided by GHS through the securities Purchase Agreement is in
effect.
We
will make copies of this prospectus available to the selling
stockholder and will inform it of the need to deliver a copy of
this prospectus to each purchaser at or prior to the time of the
sale (including by compliance with Rule 172 under the Securities
Act of 1933).
LEGAL MATTERS
Rule
415
Certain
securities being registered on this Form are to be offered on
pursuant to the securities Purchase Agreement (“PA”) (See Exhibit
1.1).
The
common stock registered hereunder may be sold by us or any of the
selling stockholders, separately, or in combination with us, at
various times within the Commitment period under the securities PA,
which terminates September 19, 2024 (the “Maturity
Date”).
Rule 144 Shares
Currently,
none of our securities may be resold pursuant to Rule 144 unless an
exemption from registration exists.
The
securities sold in this offering can only be resold through
registration under Section 5 of the Securities Act of 1933, Section
4(1), if available, for non-affiliates or by meeting the conditions
of Rule 144(i). A holder of our securities may not rely on the safe
harbor from being deemed statutory underwriter under Section 2(11)
of the Securities Act, as provided by Rule 144, to resell his or
her securities. “Form 10 information” is, generally speaking, the
same type of information as we are required to disclose in this
Prospectus, but without an offering of securities.
Hugh
D. Kelso III, Esq., has opined on the validity of the shares of
common stock being offered hereby (see Exhibit 5.1).
Instruction
1 to Item 509 of Regulation S-K requires disclosing whether the
interest of any expert or counsel named in the Prospectus exceeds
$50,000. The interest of any expert or counsel named in the
Prospectus does not exceed $50,000 according to Instruction 1 Item
509 of Regulation S-K.
EXPERTS
Our
financial statements for the year ended December 31, 2020, and the
year ended December 31, 2021, were audited by Fruci &
Associates II PLLC and are included in reliance upon such reports
given upon the authority of Fruci & Associates II PLLC, as
experts in accounting and auditing (see Index to Financials, F1.
Consent to use for this S-1 received. (see Exhibit
23.1).
DISCLOSURE OF COMMISSION POSITION ON
INDEMNIFICATION
Insofar
as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers or persons
controlling the registrant pursuant to the foregoing provisions,
the registrant has been informed that in the opinion of the
Securities and Exchange Commission such indemnification is against
public policy as expressed in the Act and is therefore
unenforceable.
ADDITIONAL
INFORMATION
Upon
the effective date of the registration statement of which this
prospectus is a part, we will be required to file reports and other
documents with the SEC. You may also read and copy any materials we
file with the SEC at the public reference room of the SEC at 100 F
Street, NE., Washington, DC 20549, between the hours of 10:00 a.m.
and 3:00 p.m., except federal holidays and official closings, at
the Public Reference Room. You may obtain information on the
operation of the Public Reference Room by calling the SEC at
1-800-SEC-0330. Our SEC filings are also available to you on the
Internet website for the SEC at http://www.sec.gov.
INDEX TO FINANCIAL
STATEMENTS
F-1 |
Interim Condensed Consolidated Balance Sheets for September 30,
2022 |
F-1 |
|
|
F-2
|
Interim Condensed Consolidated Statements of Operations (Unaudited)
for September 30, 2022
|
F-2 |
|
|
F-3
|
Interim Condensed Consolidated Statements of Changes in
Shareholders’ Equity (Deficit) (Unaudited) for September,
2022
|
F-3 |
|
|
F-4
|
Interim Condensed Consolidated Statements of Cash Flows (Unaudited)
for September, 2022
|
F-4 |
|
|
F-5
|
Interim NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS for September 30, 2022
|
F-5 |
|
|
F-6 |
Report of Independent Registered Public Accounting
Firms |
F-16 |
|
|
F-7 |
Consolidated Balance Sheets as of December 31, 2021 and
2020 |
F-17 |
|
|
F-8
|
Consolidated Statements of Operations for two full years ended
December 31, 2021 and for December 31, 2020
|
F-18 |
|
|
F-9
|
Consolidated Statements of Stockholders’ Deficit for two full years
ended December 31, 2021 and for December 31, 2020
|
F-19 |
|
|
F-10
|
Consolidated Statements of Cash Flows for two full years ended
December 31, 2021 and for December 31, 2020
|
F-20 |
|
|
F-11 |
Notes to Consolidated Financial Statements |
F-21 |
INDEX
TO EXHIBITS
THERAPEUTIC SOLUTIONS INTERNATIONAL, INC.
Condensed Consolidated
Balance Sheets
See accompanying notes to condensed consolidated financial
statements.
THERAPEUTIC SOLUTIONS INTERNATIONAL, INC.
Condensed
Consolidated Statements of Operations
(Unaudited)
See
accompanying notes to condensed consolidated financial
statements.
THERAPEUTIC SOLUTIONS INTERNATIONAL, INC.
Condensed
Consolidated Statements of Changes in Shareholders’ Equity
(Deficit)
(Unaudited)
|
|
Series A
Preferred Stock |
|
|
Common
Stock |
|
|
Additional Paid-in |
|
|
Shares to be |
|
|
Subscription |
|
|
Accumulated |
|
|
Total Shareholders’ |
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Issued |
|
|
Receivable |
|
|
Deficit |
|
|
Deficit |
|
June 30, 2021 |
|
|
- |
|
|
$ |
- |
|
|
|
2,259,521,681 |
|
|
$ |
2,259,522 |
|
|
$ |
8,321,915 |
|
|
$ |
- |
|
|
$ |
(21,000 |
) |
|
$ |
(11,856,966 |
) |
|
$ |
(1,296,529 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
issued for services |
|
|
- |
|
|
|
- |
|
|
|
5,000,000 |
|
|
|
5,000 |
|
|
|
345,000 |
|
|
|
36,821 |
|
|
|
- |
|
|
|
- |
|
|
|
386,821 |
|
Common stock
issued for prepaid fees |
|
|
- |
|
|
|
- |
|
|
|
4,500,000 |
|
|
|
4,500 |
|
|
|
343,450 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
347,950 |
|
Common stock
issued for salaries |
|
|
- |
|
|
|
- |
|
|
|
796,875 |
|
|
|
797 |
|
|
|
40,003 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
40,800 |
|
Common stock
issued for cash |
|
|
- |
|
|
|
- |
|
|
|
1,278,396 |
|
|
|
1,278 |
|
|
|
58,722 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
60,000 |
|
Common stock
issued for land development |
|
|
- |
|
|
|
- |
|
|
|
1,000,000 |
|
|
|
1,000 |
|
|
|
34,700 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
35,700 |
|
Common stock
issued for conversion of convertible notes, accrued interest, and
derivative liabilities |
|
|
- |
|
|
|
- |
|
|
|
2,835,500 |
|
|
|
2,836 |
|
|
|
53,874 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
56,710 |
|
Relief of
derivative liabilities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
61,678 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
61,678 |
|
Net
loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(814,799 |
) |
|
|
(814,799 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2021 |
|
|
- |
|
|
$ |
- |
|
|
|
2,274,932,452 |
|
|
$ |
2,274,933 |
|
|
$ |
9,259,342 |
|
|
$ |
36,821 |
|
|
$ |
(21,000 |
) |
|
$ |
(12,671,765 |
) |
|
$ |
(1,121,669 |
) |
|
|
Series A
Preferred Stock |
|
|
Common
Stock |
|
|
Additional Paid-in |
|
|
Shares to be |
|
|
Subscription |
|
|
Accumulated |
|
|
Total Shareholders’ Equity |
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Issued |
|
|
Receivable |
|
|
Deficit |
|
|
(Deficit) |
|
December 31, 2021 |
|
|
- |
|
|
$ |
- |
|
|
|
2,311,123,860 |
|
|
$ |
2,311,125 |
|
|
$ |
10,899,139 |
|
|
$ |
- |
|
|
$ |
(21,000 |
) |
|
$ |
(13,994,246 |
) |
|
$ |
(804,982 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
issued for services |
|
|
- |
|
|
|
- |
|
|
|
25,302,577 |
|
|
|
25,303 |
|
|
|
482,775 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
508,078 |
|
Common stock
issued for prepaid fees |
|
|
- |
|
|
|
- |
|
|
|
11,000,000 |
|
|
|
11,000 |
|
|
|
231,320 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
242,320 |
|
Common stock
issued for salaries |
|
|
- |
|
|
|
- |
|
|
|
1,034,482 |
|
|
|
1,034 |
|
|
|
28,965 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
29,999 |
|
Common stock
issued for cash |
|
|
- |
|
|
|
- |
|
|
|
44,500,000 |
|
|
|
44,500 |
|
|
|
400,500 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
445,000 |
|
Common stock
issued for license |
|
|
- |
|
|
|
- |
|
|
|
149,402,390 |
|
|
|
149,402 |
|
|
|
2,958,168 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
3,107,570 |
|
Common stock
issued for land development |
|
|
- |
|
|
|
- |
|
|
|
4,000,000 |
|
|
|
4,000 |
|
|
|
46,400 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
50,400 |
|
Common stock
issued for conversion of convertible notes, accrued interest and
derivative liabilities |
|
|
- |
|
|
|
- |
|
|
|
41,700,228 |
|
|
|
41,700 |
|
|
|
901,732 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
943,432 |
|
Relief of
derivative liabilities |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Issuance of
preferred stock |
|
|
2 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
Net
loss |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(2,738,142 |
) |
|
|
(2,738,142 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2022 |
|
|
2 |
|
|
$ |
- |
|
|
|
2,588,063,537 |
|
|
$ |
2,588,064 |
|
|
$ |
15,948,999 |
|
|
$ |
- |
|
|
$ |
(21,000 |
) |
|
$ |
(16,732,388 |
) |
|
$ |
1,783,675 |
|
|
|
Series A
Preferred Stock |
|
|
Common
Stock |
|
|
Additional Paid-in |
|
|
Shares to be |
|
|
Subscription |
|
|
Accumulated |
|
|
Total Shareholders’ Equity |
|
|
|
Shares |
|
|
Amount |
|
|
Shares |
|
|
Amount |
|
|
Capital |
|
|
Issued |
|
|
Receivable |
|
|
Deficit |
|
|
(Deficit) |
|
June 30, 2022 |
|
|
- |
|
|
$ |
- |
|
|
|
2,552,228,460 |
|
|
$ |
2,552,228 |
|
|
$ |
15,467,138 |
|
|
$ |
- |
|
|
$ |
(21,000 |
) |
|
$ |
(15,785,926 |
) |
|
$ |
2,212,440 |
|
Beginning balance |
|
|
- |
|
|
$ |
- |
|
|
|
2,552,228,460 |
|
|
$ |
2,552,228 |
|
|
$ |
15,467,138 |
|
|
$ |
- |
|
|
$ |
(21,000 |
) |
|
$ |
(15,785,926 |
) |
|
$ |
2,212,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
issued for services |
|
|
- |
|
|
|
- |
|
|
|
9,302,577 |
|
|
|
9,303 |
|
|
|
91,575 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
100,878 |
|
Common stock
issued for prepaid fees |
|
|
- |
|
|
|
- |
|
|
|
5,000,000 |
|
|
|
5,000 |
|
|
|
88,500 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
93,500 |
|
Common stock
issued for land development |
|
|
- |
|
|
|
|