Restatement of Previously Issued Financial Statements

9 Months Ended

Jun. 30, 2016

Quarterly Financial Information Disclosure [Abstract]

Restatement of Previously Issued Financial Statements

NOTE 12. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

Subsequent to the original issuance of the Company’s annual consolidated financial statements, the Company determined that:

An other than temporary impairment of $41,333,361 on 8,066,667 Common Shares of Entest Biomedical, Inc. owned by the Company should be recognized as of September 30, 2015 due to the following factors:

(a)	History of recurring losses for Entest Biomedical, Inc.
(b)	Large percentage decline in fair value during the Company’s period of ownership

BIOMATRIX SCIENTIFIC GROUP, INC.
CONSOLIDATED BALANCE SHEET
	As of September 30, 2015		Adjustments		As of September 30, 2015
	As originally Reported				Restated
ASSETS
CURRENT ASSETS
Cash	76,355				76,355
Prepaid Expenses	25,000				25,000
Note Receivable	12,051				12,051
Interest Receivable	1,381				1,381
Total Current Assets	114,787				114,787
OTHER ASSETS
Deposits	4,200				4,200
Available for Sale Securities	159,720				159,720
Total Other Assets	163,920				163,920
TOTAL ASSETS	278,707				278,707
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts Payable	167,977				167,977
Notes Payable	400,336				400,336
Bank Overdraft	0				0
Accrued Payroll	738,095				738,095
Accrued Payroll Taxes	44,485				44,485
Accrued Interest	324,750				324,750
Accrued Rent	10,000				10,000
Accrued Expenses	5,000				5,000
Convertible Note Payable Net of  Unamortized Discount	231,507				231,507
Due to Affiliate	0				0
Due to Subsidiary Shareholder	0				0
Current portion, note payable to affiliated party	1,000				1,000
Total Current Liabilities	1,923,150				1,923,150
Total Liabilities
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred Stock ($.0001 par value) 20,000,000 shares authorized; 20,000,000 shares authorized; 2063821  issues and outstanding as of September 30 2015	207				207
Series AA Preferred ($0.0001 par value)  100,000 shares authorized 94,852 issued and outstanding as of September  30, 2015	9				9
Series AAA Preferred ($0.0001 par value) 1,000,000 shares authorized 40,000 shares issued and outstanding as of September  30, 2015	4				4
Series B Preferred Shares ($.0001 par value) 2,000,000 shares authorized; 725,409 issued and outstanding as of and September  30,2015	73				73
Common Stock ($.0001 par value) 5,000,000,000 shares authorized; 4,232,931,345 issued and outstanding as of September  30, 2015	423,292				423,292
Non Voting Convertible Preferred Stock ($1 Par value) 200,000 shares authorized; 0 shares  issued and outstanding as of September  30, 2015	0				0
Additional Paid in capital	29,004,809				29,004,809
Contributed Capital	509,355				509,355
Retained Earnings (Deficit)	9,704,398		(41,333,361	)	(31,628,963	)
Accumulated Other Comprehensive Income (Loss)	(41,368,641	)	41,333,361		(35,280	)
Total Stockholders' Equity (Deficit)Biomatrix Scientific Group, Inc.	(1,726,494	)			(1,726,494	)
Noncontrolling Interest in subsidiary	82,050				82,050
Total Stockholders' Equity	(1,644,444	)			(1,644,444	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	278,707				278,707