UNITED STATES

The accompanying notes are an integral part of these condensed financial statements.

Nu-Med Plus, Inc.

Notes to the Condensed Financial Statements

June 30, 2019

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Nu-Med Plus, Inc. (or “the Company”) is an emerging growth early stage medical device company principally engaged in the design, innovation, development, enhancement and commercialization of beginning, early, and selective later-stage quality medical devices. The Company's immediate focus is on the development of Nitric Oxide delivery devices, including a hospital unit, a clinical unit to be used in doctors’ offices and extended care facilities, a portable unit and a single use disposable unit. We are also developing a powder formulation to generate Nitric Oxide that is 99% pure, with a one-year shelf life, a "desktop" generator device with controls plus safety monitors built in that delivers inhaled Nitric Oxide to replace expensive pressurized canisters and a compact mobile rechargeable device to deliver inhaled Nitric Oxide gas. The Company is incorporated in Utah.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

a. Basis of Interim Financial Statement Presentation

The accompanying unaudited financial statements have been prepared by the Company pursuant to accounting principles generally accepted in the United States of America. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted in accordance with rules and regulations of the Securities and Exchange Commission. The information furnished in the interim financial statements includes normal recurring adjustments and reflects all adjustments which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim financial statements be read in conjunction with the Company’s most recent audited financial statements and notes thereto included in its December 31, 2018 financial statements. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019.

b. Reclassification of operating expenses

The Company has made a reclassification of the 2018 operating expenses that affects general and administrative expense payroll expense. In the previously published 2018 financial statement presentations stock-based compensation was included in general and administrative expenses. In these accompanying unaudited financial statements those stock-based compensation expenses have been reclassified to payroll expense for comparative purposes, as in the 2019 financial presentation stock-based compensation expenses are included in payroll expenses.

c. Revenue Recognition

The Financial Accounting Standards Board (“FASB”) issued new guidance for the recognizing and reporting of revenue in contracts with customers. The effective date for implementation for public companies is January 1, 2018.

The new guidance established a five-step analysis to be followed when determining the recognition of revenue.

Identify the contract with a customer.

Identify the performance obligations in the contract.

Determine the transaction price.

Allocate the transaction price to the performance obligations in the contract.

Recognize revenue when, or as, the reporting organization satisfied a performance obligation.

While the Company is an early-stage company with no revenue, at the time we begin to generate revenue the Company will recognize such revenue in conformity with the guidelines set forth by ASC 606.

d. Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

e. Fair Value

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB Accounting Standards Codification (“ASC”) Topic 820 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements), as follows:

Level 1 - Quoted market prices in active markets for identical assets or liabilities;

Level 2 - Inputs other than level one inputs that are either directly or indirectly observable; and

Level 3 - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

All accounts receivable, accounts payable and accrued liabilities are carried at cost, which approximates fair value due to the short-term nature of these financial instruments.

f. Cash and Cash Equivalents

The Company considers all deposit accounts and investment accounts with an original maturity of 90 days or less to be cash equivalents. The cash balance of $15,686 we currently have on deposit is within the limits for which the FDIC insures.

g. Property and Equipment

Property and equipment is stated at cost. Expenditure for minor repairs, maintenance, and replacement parts which do not increase the useful lives of the assets are charged to expense as incurred. Expenditures, exceeding $500, for new assets or that increase the useful life of existing assets are capitalized. Depreciation is computed using the straight-line method. The lives over which the fixed assets are depreciated are five to seven years.

h. Leases

In February 2016, the FASB updated the accounting guidance related to leases, requiring lessees to recognize lease assets and liabilities on the balance sheet for all operating leases, with the exception of short-term leases. We adopted the updated guidance on January 1, 2019 on a prospective basis and as a result, prior periods presented in these financial statements have not been adjusted to reflect the impact of this new guidance. The resultant assets and liabilities recognized in the current period will be amortized over the remaining life of the respective leases.

i. Earnings per Share

The computation of earnings per share of common stock is based on the weighted average number of shares outstanding during the period of the financial statement. For purposes of computing basic and diluted earnings per share, shares for which cash has been received, but for which shares have not yet been issued are included as if the shares had been issued when an agreement was entered into and cash was received.

Diluted earnings per share is computed using the weighted average number of common shares plus dilutive common share equivalents outstanding during the period. As of June 30, 2019 and 2018, there were convertible notes which could be converted into 33,620,000 shares and 31,560,500 shares of restricted common stock, respectively.

j. Income Taxes

Deferred taxes are provided on an asset and liability approach whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

k. Stock-based Compensation

The Company, in accordance with ASC 718, Compensation – Stock Compensation, records all share-based payments to employees at the grant-date fair value of the equity instruments issued. In accordance with ASC 718-10-30-9, Measurement Objective – Fair Value at Grant Date, the Company uses the closing price of the stock, as quoted by NASDAQ, on the date of the grant. The Company believes this pricing method provides the best estimate of the fair value of the consideration given. Compensation cost is recognized over the requisite service period.

The Company, in accordance with this updated standard, establishes the value of equity instruments issued to non-employees for goods and services by using the closing price of the stock, as quoted by NASDAQ on the date of the grant. The Company believes this method fairly establishes the value of the goods and/or services received.

l. Recent Accounting Pronouncements

In July 2018, the Financial Accounting Standards Board issued ASU No. 2018-11 “Leases”, a clarification of the guidance issued in February 2016, ASU No. 2016-02, “Leases” Topic 842. The Company adopted this standard effective January 1, 2019. The adoption of this standard resulted in recording right-of-use assets and lease liabilities on its balance sheet. The adoption was made on a prospective basis and, as a result, prior period amounts were not adjusted to reflect the impact of the updated guidance. The adoption of this new accounting guidance did not have a significant impact on our financial statements.

In June 2018, the FASB issued ASU No. 2018-07, “Compensation — Stock Compensation (Topic 718),” (“ASU 2018-07”). ASU 2018-07 is intended to reduce cost and complexity of financial reporting for non-employee share-based payments. Currently, the accounting requirements for non-employee and employee share-based payments are significantly different. ASU 2018-07 expands the scope of Topic 718 to include share-based payments to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early adoption is permitted, but no earlier than an entity’s adoption date of Topic 606. The adoption of this new accounting guidance did not have a significant impact on our financial statements.

The Company has reviewed all other recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its results of operation, financial position and cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its current or future earnings or operations.

NOTE 3 - GOING CONCERN

The Company acknowledges that the funds on hand as of June 30, 2019, will not be sufficient to enable it to execute its business plan and funding through the sale of equity capital and short term related party and other shareholder loans in order to meet the planned expenditures for development, operations, and administrative cost over the next 12 months will be required. Planned expenditures are approximately $1,200,000 for the next twelve months. The Company is currently funded through August 31, 2019. If plans to obtain further financing prove to be insufficient to fund operations, continued viability could be at risk. These factors raise substantial doubt about the Company's ability to continue as a going concern.

NOTE 4 – PROPERTY AND EQUIPMENT

Property and equipment and related accumulated depreciation consisted of the following at June 30, 2019, and December 31, 2018:


	June 30, 2019	December 31, 2018

Computer and office equipment	$ 90,368	$ 90,368
Accumulated depreciation	(60,773)	(53,577)

Total Fixed Assets	$ 29,595	$ 36,791

Depreciation expense for the six months ended June 30, 2019 and 2018 was $7,196 and $7,388, respectively.

NOTE 5 - PREFERRED STOCK

On October 19, 2011, the Company filed Articles of Incorporation with the State of Utah so as to authorize 10,000,000 shares of preferred stock having a par value of $0.001 per share. No preferred shares are issued or outstanding at June 30, 2019.

NOTE 6 - COMMON STOCK

Stock issued for stock subscriptions payable

As of June 30, 2019 and December 31, 2018, the Company had subscriptions payable of $1,009,773 and $849,175, for which the Company had an obligation to issue 4,035,340 and 3,521,300 shares of restricted common stock, respectively.

During the six months ended June 30, 2019, the Company issued 40,000 shares of restricted common stock for $10,000 received during the year ended December 31, 2018.

In September 2017, the Company entered into a stock purchase agreement with a related party, significant shareholder and debt holder, under which the buyer may purchase up to $400,000 in shares of common stock at $0.25 per share. The agreement expires on December 31, 2019. We received cash proceeds of $170,598 under this

agreement during the period ended June 30, 2019 for 682,392 shares of restricted common stock. In addition, a total of $153,070 was received under this agreement in prior periods. The buyer has the option to fund an additional $76,332 for 305,330 shares of common stock, until the expiration on December 31, 2019. At the date of this report no stock has been issued against this agreement. As of June 30, 2019, the shares that have yet to be issued under this agreement have been recorded as a subscription payable in the amount of $323,668.

Stock issued for services

In September 2018, the Company issued 650,000 shares of stock to two consultants. Of these shares, 150,000 were issued under a consulting contract for services rendered and vested upon issue and 500,000 shares of restricted stock were issued to a consultant for services rendered and to be rendered through June 1, 2019. The common stock was valued at $639,000, of which $206,250 was recorded as consulting expense for the six months ended June 30, 2019 and $432,750 was recorded as consulting expense during the year ended December 31, 2018. At June 30, 2019 all of the expense related to these services was fully amortized.

Stock issued for compensation

On February 14, 2018 the Company announced that the consulting agreement with Mr. Merrell was terminated effective December 31, 2017, and that a new agreement was entered into effective January 1, 2018 under which Mr. Merrell would receive 2,000,000 shares of restricted common stock, vesting at 500,000 shares per year, for services to be performed between January 1, 2018 and December 31, 2021. The shares were valued at $800,000. An expense of $100,000 was recorded for the six-month period ended June 30, 2019 and an expense of $200,000 was recorded for the year ended December 31, 2018, which represents the fair value of the stock vested during that reporting period. The remaining $500,000 will be expensed over the remaining term of the contract as services are rendered.

NOTE 7 – CONVERTIBLE POMISSORY NOTES – Related Party

$100,000 Convertible Promissory Note

On November 12, 2012, the Company issued a $100,000 convertible promissory note to SCS, a related party and significant shareholder, as compensation for services provided during the period April 1, 2012 through March 31, 2013. The original note was due on demand, had an annual interest of 5.5%, and was convertible into shares of common stock at a conversion price to be agreed upon immediately prior to conversion. On September 27, 2013, the Company amended the note to include a conversion price of $0.01 per share for all unpaid principal and interest. As of June 30, 2019 and December 31, 2018 the Company has unpaid accrued interest of $58,218 and $55,453, respectively, recorded in accrued expenses on the balance sheet.

$130,100 Convertible Promissory Note

Prior to 2015, the Company entered into a convertible promissory note with SCS, a related party and significant shareholder, due on demand, bearing interest at 8% per annum, unsecured and convertible at $0.01 per share. The balance of this note was $130,100 at June 30, 2019 and December 31, 2018 the unpaid accrued interest on this note was $47,383 and $42,149, respectively, recorded in accrued expenses on the balance sheet.

NOTE 8 - COMMITMENTS AND CONTINGENCIES

The Company has obligations under both a financing lease and operating lease, as detailed below.

Operating Lease Obligations

The Company entered into a lease for office space in February 2017 for $950 per month. In November 2017 the Company signed a six-month extension of the lease with a lease payment of $978 per month. In March 2018 the Company extended the lease agreement through August 31, 2019 at a rate of $1,008 per month. Obligations under this lease are as follows:


	2019	2020	2021
Office lease	$ 2,016	$ -	$ -

Upon the adoption of ASC 842, the calculation of our lease obligation using a discount rate of 8% resulted in an immaterial difference and therefore, no interest will be imputed on the lease obligation.

Financing Lease Obligations

In March 2017, the Company also entered into a 32-month lease for a nitric oxide analyzer, with a monthly payment of $1,014 per month.

Obligations under the financing lease are as follows:


	2019	2020	2021
Financing lease	$ 6,083	$ -	$ -

The lease is a financing lease, with the option to purchase at the end of the lease term. The Company plans to exercise the purchase option under the lease, whereby 70% of the lease payments will be applied toward the purchase price of the equipment.

NOTE 9 - SUBSEQUENT EVENTS

The Company has evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no events that require disclosure as of the date of issuance.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Special Note Regarding Forward-Looking Statements

Certain statements in this Report constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause such a difference include, among others, uncertainties relating to general economic and business conditions; industry trends; changes in demand for our products and services; uncertainties relating to customer plans and commitments and the timing of orders received from customers; announcements or changes in our pricing policies or that of our competitors; unanticipated delays in the development, market acceptance or installation of our products and services; changes in government regulations; availability of management and other key personnel; availability, terms and deployment of capital; relationships with third-party equipment suppliers; and worldwide political stability and economic growth. The words “believe,” “expect,” “anticipate,” “intend” and “plan” and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made.

Critical Accounting Policies and Estimates

The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from these estimates under different assumptions or conditions.

The Company’s accounting policies are more fully described in Note 2 of the audited financial statements in our recently filed Form 10-K. As discussed in Note 2, the preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions about the future events that affect the amounts reported in the financial statements and the accompanying notes. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual differences could differ from these estimates under different assumptions or conditions. The Company believes that the following addresses the Company’s most critical accounting policies.

We recognize revenue in accordance with ASC 606, which establishes a five-step analysis to be followed when determining the recognition of revenue. While the Company is an early-stage company with no revenue, at the time we begin to generate revenue the Company will recognize such revenue in conformity with the guidelines set forth by ASC 606.

Our policy for our allowance for doubtful accounts is maintained to provide for losses arising from customers’ inability to make required payments. If there is deterioration of our customers’ credit worthiness and/or there is an increase in the length of time that the receivables are past due greater than the historical assumptions used, additional allowances may be required.

We account for income taxes in accordance with the Tax Cuts and Jobs Act and SAB 118

BUSINESS OVERVIEW

NU-MED PLUS, INC., a Utah corporation (“NU-MED” or the “Company”) was incorporated in October 2011 in the state of Utah to develop, manufacture and market new technologies utilizing nitric oxide in the medical device

field, primarily through the creation of a nitric oxide generating compound formulation and delivery systems. To date we have developed a hospital nitric oxide delivery system, a clinical nitric oxide delivery system, a mobile rechargeable device to deliver nitric oxide gas, and a nitric oxide system that can be used for research applications. NU-MED is headquartered in Salt Lake City, Utah.

Business

The mission of NU-MED is to design, develop, and market technologies in the medical device field. Our technologies will focus on market niches in high growth trend areas. We expect that each developed technology will fill a current need in medical procedures by improving upon an existing technology or device, or by designing a device to serve a need that is clearly defined and acknowledged by medical professionals.

NU-MED is a medical device company principally engaged in the design, innovation, development, enhancement and commercialization of beginning, early, and selective later-stage quality medical devices. The mission of NU-MED is to design, develop, and market technologies utilizing nitric oxide in the medical device field. Our technologies will focus on market niches in high growth trend areas. Our products are developed to target a current need in medical procedures by improving upon an existing technology or device or by designing a device to serve a currently unfilled need that is clearly defined and acknowledged by medical professionals. Our focus has been on the creation of a nitric oxide generating formulation, a hospital bedside nitric oxide delivery system, a clinical unit for use in medical clinics and rehabilitation centers and a mobile rechargeable device to deliver nitric oxide gas to offer solutions to hospitals, health systems and the medical community throughout the world.

NU-MED PLUS has focused on the development of five distinct products for the delivery of nitric oxide. NU-MED products have not been fully developed; therefore we have not made any submission for FDA approval under any medical use.

Nitric oxide proprietary formulation.

2. A hospital delivery device with controls and safety monitors built in that delivers inhaled nitric oxide to a patient at therapeutic levels. This delivery system is intended for hospitals specifically intensive care units. The goal is to have a system that delivers a metered therapeutic dose (up to 40 ppm) of nitric oxide via a ventilator. The core technology allows dilution of nitric oxide to therapeutic levels to be accomplished without the use of injectors or valves. Safeguards such as concentration monitoring, flow and gas purity would be standard.

3. A clinical delivery unit that is designed for treatment in an office or physician’s clinic. A unit powered by a wall outlet, administration of the nitric oxide would be via cannula or non-rebreather face mask.

4. A compact, mobile/portable rechargeable device to deliver inhaled nitric oxide gas. The portable system necessitates a design which can be deployed where a reliable source of power is not available or is difficult to access. The key feature is a rechargeable battery pack that powers the unit for the full duration of a therapeutic session. It can be recharged using existing electrical sources, a solar array or other alternative energy source. The unit is designed as a low power but fully functional nitric oxide delivery system for inhalation therapy, that can be used as a transport device during the movement of a patient or as a delivery device in those remote areas of the world that do not currently have electrical power readily available.

5. A unit that is one of the world’s first nitric oxide dilution systems designed for research. A patent pending technology utilizes pure 100% nitric oxide from a pressurized tank source and dilutes it with air or other non-reactive diluent gas to provide a 1 to 500 ppm source of high purity nitric oxide for investigational applications.

LIQUIDITY AND CAPITAL RESOURCES

At June 30, 2019, we had assets of $52,785 with current assets of $21,174 and liabilities of $360,039. Our current assets consisted primarily of cash in the amount of $15,686 and prepaid expenses in the amount of $5,488. We currently have no revenue and have had to rely on loans from shareholders or sale of our stock to cover expenses. Without additional capital, we will not be able to stay in business and move our business plan forward. We anticipate, based on our preliminary budgets, that we will need $300,000 in additional financing for the next twelve months to cover our corporate overhead and need an additional $900,000 to cover ongoing product development. Since we will not have a commercial product in the next twelve months, we will have to continue to rely on outside funding to support our operations and product development and testing efforts. Given the financial state of NU-MED, we will not be able to seek traditional bank financing and have to rely on private stock sales as well as potential loans from investors and shareholders. At this time, we have a stock subscription agreement under which the investor has the right to purchase up to $400,000 of restricted common stock at a price of $0.25 per share. During the six-month period ended June 30, 2019, we accepted $170,598 under this agreement. An additional $153,070 was received under this agreement in prior periods, leaving approximately $76,332 available under the agreement through December 31, 2019. We cannot estimate the full costs to bring our proposed product to market or the timing of such commercialization. Given the nature of our product being in the medical field, testing is very expensive and we would need more capital prior to completing the testing phase. Any refinement or modification of the product after the prototype is developed would also require additional capital. At this time, we will have to continue to rely on outside capital and a budget that may require adjustment as we move further in the product development phase.

RESULTS OF OPERATIONS

FOR THE THREE MONTHS ENDED JUNE 30, 2019

For the three months ended June 30, 2019 and 2018, we had no revenue. Operating expenses were $243,785 for the three-month period ended June 30, 2019 compared to $168,713 for the three-month period ended June 30, 2018. The increase relates to consulting fees, as we have accelerated the completion of the hospital nitric oxide dispensing unit. We expect comparable costs for consulting in the next three-month period. Other expense for both periods results from interest charges accrued on the convertible notes.

FOR THE SIX MONTHS ENDED JUNE 30, 2019

For the six months ended June 30, 2019 and June 30, 2018, we had no revenues and operating expenses of $667,513 and $311,276, respectively. The higher operating expenses results from increased use of consultants to accelerate the finalization of the design and production of our first nitric oxide dispensing units, non-cash charges for stock issued to a consultant and to an officer of the Company. For the six months ended June 30, 2019 we had other expenses of $8,866. For the six months ended June 30, 2018, we had other expense of $9,765. We will be dependent on outside capital to support operations for the foreseeable future and at this time do not have any commitments for additional capital beyond the $400,000 stock subscription earlier mentioned. We do not anticipate any revenue for the foreseeable future as our products are in the development stage.

OFF-BALANCE SHEET ARRANGEMENTS

The Company does not have any off-balance sheet arrangements and it is not anticipated that the Company will enter into any off-balance sheet arrangements.

Forward-looking Statements

Our Company and our representatives may from time to time make written or oral statements that are “forward-looking,” including statements contained in this Quarterly Report and other filings with the Securities and Exchange

Commission and in reports to our Company’s stockholders. Management believes that all statements that express expectations and projections with respect to future matters, as well as from developments beyond our Company’s control including changes in global economic conditions are forward-looking statements within the meaning of the Act. These statements are made on the basis of management’s views and assumptions, as of the time the statements are made, regarding future events and business performance. There can be no assurance, however, that management’s expectations will necessarily come to pass. Factors that may affect forward-looking statements include a wide range of factors that could materially affect future developments and performance, including the following:

Changes in Company-wide strategies, which may result in changes in the types or mix of businesses in which our Company is involved or chooses to invest; changes in U.S., global or regional economic conditions, changes in U.S. and global financial and equity markets, including significant interest rate fluctuations, which may impede our Company’s access to, or increase the cost of, external financing for our operations and investments; increased competitive pressures, both domestically and internationally, legal and regulatory developments, such as regulatory actions affecting environmental activities, the imposition by foreign countries of trade restrictions and changes in international tax laws or currency controls; adverse weather conditions or natural disasters, such as hurricanes and earthquakes, labor disputes, which may lead to increased costs or disruption of operations.

This list of factors that may affect future performance and the accuracy of forward-looking statements is illustrative, but by no means exhaustive. Accordingly, all forward-looking statements should be evaluated with the understanding of their inherent uncertainty.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

Our management, including our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15€ or 15d-15e) under the Exchange Act as of the end of the period covered by this report. Our management does not expect that our disclosure controls and procedures will prevent all error and all fraud. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

Based on that evaluation, as of June 30, 2019, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in internal control over financial reporting

There have been no changes in internal control over financial reporting that occurred during the last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. Legal Proceedings

None.

ITEM 1A. Risk Factors

Not applicable

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

Recent Sales of Unregistered Securities

During the six months ended June 30, 2019, we received cash proceeds of $170,598 under a subscription agreement entered into in September 2017, under which agreement the Buyer may purchase shares of common stock at $0.25 per share. As of June 30, 2019, no shares have been issued for the funds received. In January 2019, 40,000 shares of restricted common stock were issued under an agreement entered into during 2018, for which cash was received during 2018 and 200,000 shares of restricted common stock were issued under a share purchase agreement entered into in January 2019.

Other Securities Transactions

None.

Use of Proceeds of Registered Securities

None.

Purchases of Equity Securities by Us and Affiliated Purchasers

During the six months ended June 30, 2019, we have not purchased any equity securities nor have any officers or directors of the Company.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Not applicable.

ITEM 4. Mine Safety Disclosure

Not applicable.

ITEM 5. Other Information.

None.

ITEM 6. Exhibits

a) Index of Exhibits:

Exhibit Table #

Title of Document

Location

31.1

Rule 13a-14(a)/15d-14a(a) Certification – CEO

This filing

31.2

Rule 13a-14(a)/15d-14a(a) Certification –CFO

This filing

Section 1350 Certification – CEO & CFO

This filing

101.INS

XBRL Instance**

101.XSD

XBRL Schema**

101.CAL

XBRL Calculation**

101.DEF

XBRL Definition**

101.LAB

XBRL Label**

101.PRE

XBRL Presentation**

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NU-MED PLUS, INC.,

(Registrant)

August 13, 2019

By: /s/ Jeffrey L. Robins

Jeffrey L. Robins, CEO, Principal Executive Officer

August 13, 2019

By: /s/Keith L. Merrell

Keith L. Merrell, CFO/Principal Accounting

Officer


		Page No.

Condensed Balance Sheets at June 30, 2019 (unaudited) and December 31, 2018		4

Condensed Statements of Operations (unaudited) for the three and six months ended June 30, 2019 and 2018		5

Statement of Stockholders’ Equity (Deficit) for the three and six months ended June 30, 2019 and 2018 (unaudited)		6 - 7

Condensed Statements of Cash Flows (unaudited) for the six months ended June 30, 2019 and 2018		8

Notes to the Condensed Financial Statements		9


			June 30,	December 31,
			2019 (unaudited)	2018
ASSETS
Current assets
	Cash		$ 15,686	$ 167,513
	Prepaid expense		5,488	218,712
		Total current assets	21,174	386,225

	Property and equipment, net		29,595	36,791
	Operating lease right-of-use of assets		2,016	-
		Total assets	$ 52,785	$ 423,016

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities
	Accounts payable		$ 5,578	$ 9,782
	Accounts payable – related party		8,000	6,000
	Accrued expenses		108,597	117,648
	Financing lease		5,748	10,959
	Operating lease liability		2,016	-
	Convertible Promissory Notes – Related party		230,100	230,100
		Total current liabilities	360,039	374,489
Long-term liabilities			-	-
Total liabilities			360,039	374,489
Commitments and contingencies			-	-
Stockholders' equity (deficit)
	Preferred stock; $0.001 par value; 10,000,000 authorized; no shares issued and outstanding, respectively.		-	-
	Common stock; $0.001 par value; 90,000,000 authorized; 41,514,375 and 41,274,375 shares issued and outstanding, as of June 30, 2019 and December 31, 2018, respectively.		41,514	41,274
	Additional paid-in capital		5,011,247	4,851,487
	Stock subscription payable		1,009,773	849,175
	Accumulated deficit		(6,369,788)	(5,693,409)
		Total stockholders' equity (deficit)	(307,254)	48,527
		Total liabilities and stockholders' equity (deficit)	$ 52,785	$ 423,016


			Three months ended June 30, 2019	Three months ended June 30, 2018	Six months ended June 30, 2019	Six months ended June 30, 2018

Revenue			$ -	$ -	$ -	$ -

Operating expenses
	General and administrative expense		11,335	31,074	49,852	52,938
	Payroll expense		64,486	63,976	125,980	125,451
	Rent expense		4,598	4,510	9,197	8,964
	Professional and consulting fees		159,945	65,350	475,288	116,535
	Depreciation expense		3,421	3,803	7,196	7,388
		Total operating expenses	243,785	168,713	667,513	311,276

		Operating Loss	(243,785)	(168,713)	(667,513)	(311,276)

Other income (expense)
	Interest expense		(4,399)	(4,842)	(8,866)	(9,765)
		Total other income (expense)	(4,399)	(4,842)	(8,866)	(9,765)

	Income tax expense		-	-	-	-

		Net income (loss)	$ (248,184)	$ (173,555)	$ (676,379)	$ (321,041)

	Basic and diluted earnings per share		$ (0.01)	$ (0.00)	$ ( 0.01)	$ ( 0.01)
	Weighted average common shares outstanding – basic and diluted		45,336,283	37,811,696	45,129,067	37,688,097


	Preferred Stock		Common Stock		Additional Paid-In	Stock Subscription	Accumulated
	Shares	Amount	Shares	Amount	Capital	Payable	Deficit	Total
Balance, January 1, 2019	-	$ -	41,274,375	$ 41,274	$ 4,851,487	$ 849,175	$ (5,693,409)	$ 48,527
Common Stock issued for subscription payable	-	-	40,000	40	9,960	(10,000)	-	-
Stock issued for cash	-	-	200,000	200	49,800	-	-	50,000
Cash received for subscription payable	-	-	-	-	-	55,000	-	55,000
Stock vested for compensation	-	-	-	-	50,000	-	-	50,000
Net loss for the three months ended March 31, 2019	-	-	-	-	-	-	(428,195)	(428,195)
Balance, March 31, 2019	-	$ -	41,514,375	$41,514	$4,961,247	$894,175	$ (6,121,604)	$ (224,668)
Cash received for subscription payable	-	-	-	-	-	115,598	-	115,598
Stock vested for compensation	-	-	-	-	50,000	-	-	50,000
Net loss for the three months ended June 30, 2019	-	-	-	-	-	-	(248,184)	(248,184)
Balance, June 30, 2019	-	$ -	41,514,375	$41,514	$5,011,247	$1,009,773	$ (6,369,788)	$ (307,254)


	Preferred Stock		Common Stock		Additional Paid-In	Stock Subscription	Accumulated
	Shares	Amount	Shares	Amount	Capital	Payable	Deficit	Total
Balance, January 1, 2018	-	$ -	37,563,125	$ 37,563	$ 3,728,837	$ 806,405	$ (4,504,563)	$ 68,242
Cash received for subscription payable	-	-	-	-	-	8,220	-	8,220
Stock subscription payable - services	-	-	-	-	-	50,000	-	50,000
Net loss for the three months ended March 31, 2018	-	-	-	-	-	-	(147,486)	(147,486)
Balance, March 31, 2018	-	$ -	37,563,125	$37,563	$3,728,837	$864,625	$ (4,652,049)	$ (21,024)
Cash received for subscription payable	-	-	-	-	-	9,750	-	9,750
Common stock issued for cash	-	-	440,000	440	109,560	-	-	110,000
Stock subscription payable - services	-	-	-	-	-	50,000	-	50,000
Net loss for the three months ended June 30, 2018	-	-	-	-	-	-	(173,555)	(173,555)
Balance, June 30, 2018	-	$ -	38,003,125	$38,003	$3,838,397	$924,375	$ (4,825,604)	$ (24,829)


PART I	FINANCIAL INFORMATION	2

ITEM 1	FINANCIAL STATEMENTS	3

ITEM 2	MANAGEMENT’S DISCUSSION AND ANAYLSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	15

ITEM 3	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	18

ITEM 4	CONTROLS AND PROCEDURES	18



PART II	OTHER INFORMATION	19

ITEM 1	LEGAL PROCEEDINGS	19

ITEM 2	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	19

ITEM 3	DEFAULTS UPON SENIOR SECURITIES	19

ITEM 4	MINE SAFETY DISCLOSURE	19

ITEM 5	OTHER INFORMATION	19

ITEM 6	EXHIBITS	19


SIGNATURES		20


			Six months ended June 30, 2019	Six months ended June 30, 2018
Cash flows from operating activities:
	Net income (loss)		$ (676,379)	$ (321,041)
	Adjustment to reconcile net income (loss) to net cash used in operating activities:
		Depreciation and amortization	7,196	7,388
		Amortization of right of use asset	6,047	-
		Stock issued for services performed	100,000	100,000
		Changes in operating assets and liabilities:
		Prepaid expenses	213,224	5,000
		Operating lease right-of-use asset	(6,047)	-
		Accounts payable	(2,204)	16,835
		Accrued expense	(9,051)	10,511
		Net cash used in operating activities	(367,214)	(181,307)

Cash flows from investing activities:
		Net cash used in investing activities	-	(5,026)

Cash flows from financing activities
	Proceeds from stock subscriptions payable		170,598	127,970
	Proceeds from issuance of common stock		50,000	-
	Payments on financing lease		(5,211)	(4,282)
		Net cash provided by financing activities	215,387	123,688
		Net increase (decrease) in cash	(151,827)	(62,645)
Cash at beginning of period			167,513	351,043
Cash at end of period			$ 15,686	$ 288,398
Supplemental schedule of cash flow information
	Cash paid for interest		$ 878	$ 1,772
	Common stock issued for subscription payable		$ 10,000	$ -
	Right-of-use operating lease assets obtained in exchange for operating lease liabilities		$ 8,063	$ -