10-Q

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31, 2019

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to ______________

Commission File Number: 000-55299

NASCENT BIOTECH INC

(Exact Name of Registrant as Specified in Its Charter)

Nevada	45-0612715
(State of Incorporation)	(IRS Employer Identification No.)
6330 Nancy Ridge Dr. Suite 105, San Diego, CA	92121
(Address of Principal Executive Offices)	(Zip Code)

(612) 961-5656

(Registrant’s Telephone Number)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated file, non-accelerated filer, or a smaller reporting company.

Large accelerated filer	¨	Accelerated filed	¨
Non-accelerated filer	x	Smaller reporting company	x
		Emerging Growth Company	x

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 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

As of February 11, 2020 , the Registrant had 36,160,870 shares of common stock issued and outstanding.

 

TABLE OF CONTENTS

PART I – FINANCIAL INFORMATION
Item 1.	Financial Statement (Unaudited)	3
	Balance Sheets as of December 31, 2019 (unaudited) and March 31, 2019	3
	Unaudited Statements of Operations for the Three and Nine Months Ended December 31, 2019 and 2018	4
	Unaudited Statements of Stockholders’ Deficit for the Nine Months Ended December 31, 2019 and 2018	5
	Unaudited Statements of Cash Flows for the Nine Months Ended December 31, 2019 and 2018	6
	Notes to Unaudited Financial Statements	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	12
Item 3.	Quantitative and Qualitative Disclosures About Market Risks	14
Item 4.	Controls and Procedures	14
PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	15
Item 1A.	Risk Factors	15
Item 2.	Unregistered Sales of Equity and Use of Proceeds	15
Item 3.	Default upon Senior Securities	15
Item 4.	Mine Safety Information	15
Item 5.	Other Information	15
Item 6.	Exhibits	16
SIGNATURES		17

2

PART I – FINANCIAL INFORMATION

ITEM: 1 FINANCIAL STATEMENT

NASCENT BIOTECH, INC.

BALANCE SHEETS

	December 31, 2019			March 31, 2019
	(Unaudited)
ASSETS
Current assets:
Cash	$	1,819		$	131,472
Total current assets		1,819			131,472
Total assets	$	1,819		$	131,472
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities:
Accounts payable and accrued liabilities	$	839,798		$	525,636
Due to related parties		114,530			88,000
Total current liabilities		954,328			613,636
Total liabilities		954,328			613,636
Commitments and contingencies		-			-
Stockholders’ deficit:
Preferred stock, $0.001 par value, 10,000,000 authorized, 110,000 Series A and none issued and outstanding, respectively		110			--
Common stock, $0.001 par value; 100,000,000 authorized, 35,960,870 and 32,646,635 outstanding, respectively		35,961			32,647
Additional paid-in capital		12,820,662			12,318,685
Accumulated deficit		(13,809,242	)		(12,833,496	)
Total stockholders’ deficit		(952,509	)		(482,164	)
Total liabilities and stockholder’ deficit	$	1,819		$	131,472

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

3

NASCENT BIOTECH, INC.

STATEMENTS OF OPERATIONS

(Unaudited)

	Three Months Ended December 31,						Nine Months Ended December 31,
	2019			2018			2019			2018
Operating expenses:
Consulting	$	181,290		$	109,846		$	494,300		$	448,322
General and administrative expense		62,107			121,724			249,625			409,548
Research and development		124,925			25,000			255,578			176,439
Loss from operations		(368,232	)		(256,570	)		(969,503	)		(1,034,309	)
Other income (expense):
Interest income		--			5			6			27
Interest expense		(1,920	)		--			(6,249	)		--
Total other income (expense)		(1,920	)		5			(6,243	)		27
Net loss	$	(370,152	)	$	(256,565	)	$	(975,746	)	$	(1,034,282	)
Net loss per share, basic and diluted	$	(0.01	)	$	(0.01	)	$	(0.03	)	$	(0.04	)
Weighted average number of shares outstanding, basic and diluted		33,828,331			30,600,054			33,419,628			29,503,095

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

4

NASCENT BIOTECH, INC.

STATEMENTS OF STOCKHOLDERS’ DEFICIT

FOR THREE AND NINE MONTHS ENDED DECEMBER 31, 2019 AND 2018

														Total
									Additional					Stockholders’
	Preferred Stock				Common Stock				Paid-In		Accumulated			Equity
	Shares		Amount		Shares		Amount		Capital		Deficit			(Deficit)
	For Three Months Ended December 31, 2018
Balance at September 30, 2018						30,532,857		30,533		11,821,138		(12,242,306	)		(390,635	)
Common stock issued for stock and warrants		--		--		540,000		540		134,460		--			135,000
Common stock issued to related parties for service		--		--		66,741		67		11,279		--			11,346
Option discount		--		--		--		--		9,600		--			9,600
Net loss		--		--		--		--		--		(256,565	)		(256,565	)
Balance at December 31, 2018		--		--		31,139,598	$	31,140	$	11,976,477	$	(12,498,871	)	$	(491,254	)
	For Nine Months Ended December 31, 2018
Balance at March 31, 2018		--		--		27,753,365	$	27,754	$	11,350,456	$	(11,464,589	)	$	(86,379	)
Common stock and warrants issued for cash		--		--		1,277,142		1,277		391,723		--			393,000
Common stock issued to related parties for service		--		--		373,272		373		49,657		--			50,030
Common stock issued for warrant exercise		--		--		1,665,710		1,666		81,619		--			83,285
Common stock issued for service		--		--		70,000		70		27,430		--			27,500
Option expense		--		--		--		--		28,800		--			28,800
Net loss		--		--		--		--		--		(1,034,282	)		(1,034,282	)
Balance at December 31, 2018		--		--		31,139,598	$	31,140	$	11,976,477	$	(12,498,871	)	$	(491,254	)
	For Three Months Ended December 31, 2019
Balance at September 30, 2019		110,000		110		33,772,970		33,774		12,604,060		(13,439,090	)		(801,146	)
Common stock issued for cash						150,000		150		14850					15,000
Common stock issued for service-related parties		--		--		207,900		207		20,582		--			20,789
Common stock issued to related parties for debt		--		--		1,830,000		1,830		181,170		--			183,000
Net loss		--		--		--		--		--		(370,152	)		(370,152	)
Balance at December 31, 2019		110,000	$	110		35,960,870	$	35,961	$	12,820,662	$	(13,809,242	)	$	952,509	)
	For Nine Months Ended December 31, 2019
Balance at March 31, 2019		--		--		32,646,635		32,647		12,318,685		(12,833,496	)		(482,164	)
Common stock issued for cash						150,000		15		14,850					15,000
Common stock issued related parties for debt		--		--		2,469,536		2,469		279,530		---			282,000
Common stock issued to related parties for service		--		--		373,272		373		49,657		--			50,030
Common stock issued for warrant exercise		--		---		21,427		21		1,050		--			1,071
Common stock issued for service		--		--		300,000		300		47,000		--			47,300
Preferred shares issued for cash		110,000		110		--		--		109,890		--			110,000
Net loss						--		--		--		(975,746	)		(975,746	)
Balance at December 31, 2019		110,000	$	110		35,960,870	$	35,961	$	12,820,662	$	(13,809,242	)	$	(952,509	)

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

5

NASCENT BIOTECH, INC.

STATEMENTS OF CASH FLOWS

(Unaudited)

	Nine Months Ended December 31,
	2019			2018
Cash flows from operating activities:
Net loss	$	(975,746	)	$	(1,034,282	)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation – related parties		50,030			96,822
Stock based compensation		47,300			27,500
Option expense		--			28,800
Changes in operating assets and liabilities:
Accounts payable and accrued expenses		314,162			336,186
Due to related parties		308,530			55,000
Net cash used in operating activities		(255,724	)		(489,974	)
Cash flows from financing activities:
Common stock issued for exercise of warrants		1,071			83,285
Proceeds from the sale of preferred shares for cash		110,000			--
Proceeds from the sale of common stock for cash		15,000			--
Proceeds from sale of common stock and warrants		--			393,000
Net cash provided by financing activities		126,071			476,285
Net decrease in cash		(129,653	)		(13,689	)
Cash -beginning of year		131,472			116,994
Cash -end of period	$	1,819		$	103,305
SUPPLEMENT DISCLOSURES:
Interest paid	$	--		$	--
Income taxes paid	$	--		$	--
Non Cash Transactions
Common stock issued for accrued expenses- related party	$	282,000		$	--

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

6

NASCENT BIOTECH, INC.

NOTES TO FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 – ORGANIZATION AND NATURE OF OPERATIONS

Nascent Biotech, Inc. (“Nascent” or the “Company”) was incorporated on March 3, 2014 under the laws of the State of Nevada. The Company is actively developing its primary asset Pritumumab for the treatment of brain cancer and pancreatic cancer. Nascent is also actively researching other cancers that have a high probability of benefiting from the therapeutic effects of Pritumumab because they share a common target. Pritumumab has shown to be very effective at low doses in previous clinical studies in Japan. Nascent is a pre-clinical stage biopharmaceutical company that focuses on biologic drug candidates that are preparing for initial clinical testing for the treatment of brain and pancreatic cancer.

On March 31, 2017 the Company filed its IND submission with the Federal Drug Administration (FDA) for clearance to begin Phase I clinical trials. On December 7, 2018 the Company received a letter from the FDA allowing it to use a specific lot of drug substance to begin phase 1 clinical trials. The FDA also requested additional data to remove the partial clinical hold. The Company is responding to additional data requests from the FDA requiring additional testing of the product and additional materials to answer specific questions from the FDA.

On July 10, 2019 the Company filed an amended articles of Incorporation designating 1,500,000 shares of preferred stock as Series A Convertible preferred shares convertible into common stock.

On August 9, 2019 the Company signed a contract for clinical phase 1 studies with west coast clinic. The Company received its IRB clearance allowing the opening of clinical trials.

NOTE 2- BASIS OF PRESENTATION

The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles. The Company has elected a fiscal year ending on March 31.

The accompanying unaudited interim financial statements of the Company for the three and nine months ended December 31, 2019 and 2018 have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information in accordance with Securities and Exchange Commission and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the year ended March 31, 2019. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position and the results of operations for the interim periods presented herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for any subsequent quarters or for an entire year.

Basic and Diluted Net Income (Loss) per Share

Basic net income (loss) per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. During the nine months ended December 31, 2019 the Company had a net loss so the options and warrants outstanding were not part the loss per share calculation as they would be antidilutive. Diluted income (loss) per share calculations includes the dilutive effect of warrants and options on the weighted average of the per share calculation.

Stock-Based Compensation

The Company accounts for stock-based compensation to employees and consultants in accordance with FASB ASC 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company estimates the fair value of stock-based payments using the Black Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances.

7

Recent Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases. The main provisions of ASU No. 2016-02 require management to recognize lease assets and lease liabilities for all leases. ASU 2016-02 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous release’s guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous U.S. GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s financial statements and related disclosures.

NOTE 3 - GOING CONCERN

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has a working capital deficit and has incurred losses from operations. The Company has no revenue to cover its operating costs and the Company will incur additional expenses in the future developing their product. These factors raise substantial doubt about the company’s ability to continue as a going concern. The Company engages in research and development activities that must be satisfied in cash secured through outside funding. The Company may offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

NOTE 4 – RELATED PARTY TRANSACTIONS

On September 1, 2015, the Company entered five-year employment contracts with three of its officers and directors. Under the terms of the agreements the Company issued shares of common stock to the officers and directors equaling 11% of the outstanding shares of the Company as of the date of the contracts. As additional future shares are issued, the officers and directors are entitled to additional shares so their aggregate ownership percentage remains at 11% of the outstanding shares of the Company. The following table sets forth the shares earned under these contracts as of December 31, 2019:

Officer and Director	Initial Share Awards Under the Contracts		Additional Shares Earned to Maintain Ownership Percentage		Total Shares Earned
President		1,028,910		776,154		1,805,064
Chief Financial Officer		617,346		468,393		1,085,739
Executive Vice President		617,346		468,393		1,085,739
Total		2,263,602		1,712,940		3,976,542

In addition, if the officers and directors are removed from the Company, they are entitled to receive a cash severance payment per annum for each year of the term of the contract less salary payments received to date of termination. The table below sets forth the annual salary and annual severance amounts per the contracts:

Officer and Director	Fiscal Year Annualized Compensation Being Paid		Annual Severance per Contract if Terminated
President	$	186,000	$	250,000
Chief Financial Officer	$	132,000	$	180,000
Executive Vice President	$	84,000	$	140,000
Total	$	402,000	$	570,000

8

During the nine months ended December 31, 2018 the Company issued 373,381 shares of common stock to three officers of the Company with a value of $96,822 for service.

During the nine months ended December 31, 2018 the Company paid a related party and Chairman of the Scientific Board $14,000 in consulting fees and accrued $5,000 of the fees. During the nine months period ended December 31, 2019, Company paid $4,000 plus an outstanding accrual of $9,000 to the same individual.

As of December 31, 2018 the Company accrued $55,000 of compensation earned but not paid to related parties.

On July 11, 2019 an officer and director of the Company advanced the Company $10,000. The advance was on demand and bears no interest. On July 26, 2019 the Company repaid the $10,000 advance to the officer and director of the Company.

During the nine months ended December 31, 2019 an officer and director of the Company advanced the Company $37,620, $4,250 in cash and $33,370 in payment of accounts payable bills.

On December 30, 2019, three officers and directors and the chairman of the Scientific Board of the Company converted $282,000 of accrued fees into 2,469,536 shares of common stock at $0.10- $0.1548 per share.

During the nine months ended December 31, 2019, the Company issued 373,272 shares of common stock to three officers and a director for service with a value of $50,030.

During the nine month period ended December 31, 2019 the Company paid the related parties (three officers and directors) $59,000 in consulting fees in cash and accrued $120,710 of the consulting fees for a total of $179,710. In addition $6,209 in expenses were accrued for the related parties.

NOTE 5 – EQUITY

Preferred Stock

On July 25, 2019 the Company issued 110,000 shares at $1.00 per share of series A convertible preferred to one entity with a value of $110,000 for cash. Each share of series A preferred is convertible after 180 days to four shares of common stock ($0.25 per share) or at the lowest of: (i) the fixed conversion price; (ii) the equitant of 70% of the lowest closing price for the 20 days prior to the conversion of the preferred shares and accrues 7% interest annually.

Common Stock

During the nine months ended December 31, 2018 the Company issued 1,277,142 shares of common stock to 15 individuals plus 237,747 warrants to eight individuals for $393,000 in cash. The warrants vest immediately and terminate in one year with conversion prices ranging from $0.05-$0.50.

During the nine months ended December 31, 2018 the Company issued 1,665,710 shares of common stock for the exercise of 1,665,710 warrants for cash of $83,285.

During the nine month period ended December 31, 2018 the Company issued 70,000 shares of common stock of the Company to two individuals with a value of $27,500 for service.

During the nine month period ended December 31, 2018 the Company issued 373,381 shares of common stock to three officers of the Company with a value of $96,822 for service.

During the nine months ended December 31, 2019, two warrant holders exercised 21,427 warrants for common stock at $0.05 per share for cash of $1,071.

9

On December 11, 2019 the Company issued 150,000 shares of common stock with a value of $15,000 for cash.

During the nine months period ended December 31, 2019 Company issued 300,000 shares of common stock to two entities with a value of $47,300 for service.

On December 30, 2019, three officers and directors and the chairman of the Scientific Board of the Company converted $282,000 of accrued fees into 2,469,536 shares of common stock at $0.10-$0.1548 per share.

During the nine months ended December 31, 2019 the Company issued 373,272 shares of common stock to three officers and a director for service with a value of $50,030.

NOTE 6– OPTIONS

As of December 31, 2019 there was no option expenses recognized by the Company and the balance of unrecognized option expense was zero.

The following sets forth the options granted and outstanding during the nine months ended December 31, 2019:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contract Life		Number of Options Exercisable		Intrinsic Value
Outstanding at March 31, 2019		1,405,000	$	0.34		6.80		1,397,000	$	--
Granted		--		--		--		--		--
Exercised		--		--		--		--		--
Outstanding at December 31, 2019		1,405,000	$	0.34		6.05		1,397,000	$	--

The weighted average remaining life and intrinsic value of the options as of December 31, 2019, was 6.05 years and zero, respectively.

NOTE 7 – WARRANTS

During the nine month period ended December 31, 2018, the Company issued 237,747 warrants for cash proceeds (Note 5). Each warrant is exercisable, within one year of the issuance, into one share of the Company’s common stock at $0.05 to $0.50 per share.

During the nine month period ended December 31, 2018 sixteen individuals exercised 1,665,710 warrants into 1,665,710 shares of common stock for cash of $83,285. As of December 31, 2018, the Company had total outstanding warrants of 237,747.

During the nine months ended December 31, 2018, 274,228 warrants expired.

During the nine months ended December 31, 2019 two individuals exercised 21,427 warrants into 21,427 shares of common stock for cash of $1,071.

During the nine months ended December 31, 2019, 216,320 warrants expired.

10

The weighted average remaining life and intrinsic value of the warrants as of December 31, 2019 was zero.

							Weighted
				Weighted			Average
				Average			Remaining
				Exercise			Contract		Intrinsic
	Warrants			Price			Life		Value
Outstanding at March 31, 2019		237,747		$	0.20			0.25	$	18,470
Granted		--			--			--		--
Exercised		(21,427	)		0.05			--		--
Expired		(216,320	)		(0.05	)		--		--
Outstanding at December 31, 2019		--		$	0.00			0.00	$	--

NOTE 8 –COMMITMENTS AND CONTINGENCIES

On September 30, 2016, the Company entered a cell line sales agreement with the product manufacturer. Under the terms of the agreement the Company is obligated to make future payments based on the milestones of its achievements. These future payments may be as followed;

1.	$100,000 upon the initiation (first dose/first patient) of the first Phase I clinical trial (or equivalent) of a Product;
2.	$225,000 upon the initiation (first dose/first patient) of the first Phase III clinical trial (or equivalent) of a Product
3.	$225,000 payable upon the first Biologics License Application approval (or equivalent) of a product.
4.	Annual maintenance fee upon completion of phase I manufacturing or the transfer of the cell line from Catalent’s control of $50,000;
5.	A contingent sales fee upon first commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.

As of December 31, 2019 $100,000 was due for the annual maintenance fee.

NOTE 9 - SUBSEQUENT EVENT

On December 31, 2019 the Company signed a 7% Convertible note for $161,250 with an OID of $11,250. The note was funded on January 3, 2020. The note matures on July 1, 2020 after which it is convertible into common stock of the Company at 75% of the lowest trading prices 15 days prior to conversion.

On January 3, 2020 the Company repaid an officer and director of the Company $17,679 in advances and expenses for the Company leaving a balance due the officer of $21,500.

On February 3, 2020 the Company issued 200,000 shares of common stock to one individual with a value of $20,000 for cash.

The Company has evaluated subsequent events to determine events occurring after December 31, 2019 through February 11, 2020 that would have a material impact on the Company’s financial results or require disclosure and have determined none exist other than those noted above in this footnote.

11

ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERTIONS

This report contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The Company’s actual results could differ materially from those set forth on the forward-looking statements because of the risks set forth in our filings with the Securities and Exchange Commission, general economic conditions, and changes in the assumptions used in making such forward looking statements.

Nascent Biotech, Inc (“Nascent” or the “Company”) was incorporated on March 3, 2014 under the laws of the State of Nevada. The Company is actively developing its primary asset Pritumumab for the treatment of brain cancer and pancreatic cancer. Nascent is also actively researching other cancers that have a high probability of benefiting from the therapeutic effects of Pritumumab because they share a common target. Pritumumab has shown to be very effective at low doses in previous clinical studies in Japan.

Nascent is a clinical stage biopharmaceutical company that develops monoclonal antibodies for the treatment of various forms of cancer. The Company focuses on biologic drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use. Nascent currently is developing for the treatment of brain cancer and pancreatic cancer both of which we hold orphan drug status granted by the FDA.

Overview

The Company is focused on developing pritumumab for the treatment of patients with brain cancer malignancies such as gliomas and astrocytomas. Pritumumab is a fully-human monoclonal antibody that has been tested on 249 brain cancer patients and reviewed by the Ministry of Health and Welfare in Japan. The objective of the Phase I and Phase II human clinical trial was to determine the safety of pritumumab in humans and its efficacy in eliminating tumors or reducing tumor size in patients with brain cancer. These clinical trials were conducted at 22 clinical sites within Japan during a 14-year time (1988 to 2002). Except for 17 patients that were treated for a period of four weeks in a Phase I (safety) study (1mg per week dosage), all patients were dosed at 1 mg, either once or twice per week, for 24 weeks, and were evaluated for both safety and efficacy. The sponsor of those trials was the Hagiwara Institute of Health (HIH). Manufacturing of Pritumumab was done by Japan Pharmaceutical Development Company-a pharmaceutical contract manufacturing company, and all pre-clinical development work was performed at HIH. At the end of the Phase II trial, the HIH was approved for expanded Phase III trials in humans; however, the founder of HIH passed away and the clinical development of Pritumumab was suspended. A concern at that time was the ability to manufacture enough pritumumab to continue clinical trials. The product has never been approved for sale in Japan or elsewhere. Current therapeutic strategies for brain cancer include the use of the chemotherapy, surgical intervention or radiation therapy. Because these treatments have marginal outcomes there exists a need to develop safer, more effective drugs. Temodar-the most commonly used Chemotherapeutic drug used to treat brain cancer, is attributed to only median rates of survival and many brain tumors are eligible for surgery. Moreover, even when removed, most brain tumors come back within one year post-operation. Today, with current standards of care, less than 60% of all brain cancer patients will live past the first year after diagnosis, and less than 35% of patients will live to five years. Glioblastoma, a particularly aggressive form of brain cancer that constitutes 42% of ALL brain and other nervous system cancers, has survival rates of 36.5% at 1 year and 5% at 5 years. (SEER Registry Data, September 15^th, 2016 (Central Brain Tumor Registry of the United States).

 

On March 31, 2017 the Company filed its IND submission with the US Food and Drug Administration (FDA) for clearance to begin Phase I clinical trials. On December 7, 2018 the Company received a letter from the FDA allowing it to use a specific lot of drug substance to begin phase 1 clinical trials. The FDA also placed the trial on partial clinical hold, pending receipt of additional requested data. The Company is finalizing the process of responding to additional data requests from the FDA - required additional testing of the product and additional materials to answer specific questions.

12

Results of Operations

The Company recorded zero of revenue during the three and nine month periods ended December 31, 2019, and 2018, respectively.

General and administrative expenses for the three and nine month periods ended December 31, 2019 was $243,307 and $713,925 compared to $231,570 and $857,870 in 2018. This decrease in expenses for the nine months ended December 31, 2019 over the same period in 2018 was due to a lower cost for IND filing of the Company in 2019 over 2018.

Research and development expenses for the three and nine month periods ended December 31, 2019 was $124,925 and $255,578 compared to $25,000 and $176,439 in the same period in 2018. This increase in expenses for the three and nine months ended December 31, 2019 over the same period in 2018 reflected increased testing required by the FDA as part of the partial clinical trial hold.

Total other expense incurred in the three and nine month periods ended December 31, 2019 was $1,920 and 6,243, compared to other income of $5 and $27 the same periods in 2018. Other expense consisted of interest expense from preferred shares and accounts payables.

For the three and nine month periods ended December 31, 2019, our net loss was $370,152 and $975,746 compared to a net loss of $256,565 and $1,034,282 for the same periods in 2018. The difference between the periods relates to lower general and administrative costs in not preparing the IND in for the nine months in 2019 compared to the same period in 2018.

Liquidity and Capital Resources

The Company’s liquidity and capital is dependent on the capital it can raise to continue the Company’s testing and clinical trials of its product. The Company projects it must raise approximately $10-15 million to complete its Phase I and Phase II clinical studies.

There are no agreements or understandings about future loans by or with the officers, directors, principals, affiliates, or shareholders of the Company. The Company will continue to raise outside capital through loans, equity sales and possible licensing agreements. These factors raise substantial doubt about the company’s ability to continue as a going concern

At December 31, 2019, the Company had negative working capital of $952,509. Current assets consist of cash of $1,819. Current liabilities as of the same date were $954,328 consisting of accounts payable of $839,798 of which approximately $350,000 was cost overrun on the IND submission plus due to related parties of $114,530.

Net cash used in operating activities in the nine months period ended December 31, 2019 was $255,724 compared to net cash used of $489,974 in the same period in 2018. The variance between the same periods in 2019 and 2018 relates mainly to a lower loss in the nine months period ended December 31, 2019 over the same period in 2018.

Net cash provided by financing activities for the nine months period ended December 31, 2019 was $126,071 compared to $476,285 in the same period in 2018. Cash provided was a result of the conversion of warrants to common stock of $1,071 and from the sale of convertible preferred stock for $110,000 in 2019 plus the same of common stock for cash of $15,000 compared to warrant conversion of $83,285 and the sale of common stock and warrants of $393,000 in the same period in 2018

As of December 31, 2019, the Company had total assets of $1,819 and total liabilities of $954,328. Stockholders’ deficit as of December 31, 2019 was $952,509. This compares to a stockholders’ deficit of $482,164 as of March 31, 2019. Liabilities increased in 2019 due mainly to an increase in accounts payable and due to related parties during this period versus the same period in 2018 but was partly offset by the conversion by four related parties of $282,000 due the related parties converted to common stock.

13

NEED FOR ADDITIONAL FINANCING:

Our current capital needs are estimated to be approximately $10-15 million. This will take us through Phase I/II clinical trials which are scheduled to begin in the end of the first quarter of the calendar year 2020.

Off-Balance Sheet Arrangements

We had no off-balance sheet arrangements or guarantees of third party obligations at December 31, 2019.

Inflation

We believe that inflation has not had a significant impact on our operations since inception.

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

Not applicable.

ITEM 4: CONTROLS AND PROCEDURES

Under the supervision and the participation of our management, including our principal executive officer and principal financial officer, we conducted an evaluation as of December 31, 2019, of the effectiveness of the design and operation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as amended. Based on this evaluation, our principal executive officer and our principal financial officer concluded that our disclosure controls and procedures were not effective as of December 31, 2019, Such conclusion reflects the identification of material weakness as follows: (1) lack of accounting proficiency of our chief executive officer who is our sole officer and our principal accounting officer which has resulted in a reliance on part-time outside consultants to perform substantially all of our accounting functions, (2) a lack of adequate segregation of duties and necessary corporate accounting resources in our financial reporting process and accounting function, and (3) lack of control procedures that include multiple levels of review. Until we can remedy these material weaknesses, we have engaged third party consultants and accounting firm to assist with financial reporting.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting that occurred during the three months ended December 31, 2019 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

14

PART II – OTHER INFORMATION

ITEM 1: LEGAL PROCEEDINGS

None.

ITEM 1A: RISK FACTORS

There have been no material changes to Nascent Biotech’s risk factors as previously disclosed in our most recent Form 10-K filing.

ITEM 2: SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

During the nine months ended December 31, 2019, two warrant holders exercised 21,427 warrants for common stock at $0.05 per share for cash of $1,071.

On December 11, 2019 the Company issued 150,000 shares of common stock with a value of $15,000 for cash.

During the nine months period ended December 31, 2019 Company issued 300,000 shares of common stock to two entities with a value of $47,300 for service.

On December 30, 2019, three officers and directors and the chairman of the Scientific Board of the Company converted $282,000 of accrued fees into 2,469,536 shares of common stock at $0.10-$0.1548 per share

During the nine months ended December 31, 2019, the Company issued 373,272 shares of common stock to three officers and a director for service with a value of $50,030.

ITEM 3: DEFAULT ON SENIOR SECURITIES

None.

ITEM 4: MINE SAFETY INFORMATION

None.

ITEM 5: OTHER INFORMATION

None.

15

ITEM 6: EXHIBITS

Exhibit No.	Description
31.1	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101	Interactive data files pursuant to Rule 405 of Regulation S-T

16

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NASCENT BIOTECH, INC.
Dated: February 11, 2020	By:	/s/ Sean Carrick
		Sean Carrick
		Principal Executive Officer

17

EX-31.1

EXHIBIT 31.1

OFFICER’S CERTIFICATE PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Sean Carrick, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Nascent Biotech, Inc. (the “registrant”) for the period ending December 31, 2019;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d – 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end to the period covered by this report based on such evaluation; and
(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: February 11, 2020

/s/ Sean Carrick

Sean Carrick

President

(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

OFFICER’S CERTIFICATE PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Lowell Holden, certify that:

1.	I have reviewed this Quarterly Report on Form 10-Q of Nascent Biotech, Inc. (the “registrant”) for the period ending December 31, 2019;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d – 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end to the period covered by this report based on such evaluation; and
(d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated February 11, 2020

/s/ Lowell Holden

Lowell Holden

Chief Financial Officer

(Principal Financial Officer & Principal Accounting Officer)

EX-32.1

EXHIBIT 32.1

CERTIFICATE PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report (the “Report”) on the Form 10-Q of Nascent Biotech, Inc. (the “Company”) for the period ended December 31, 2019, as filed with the Securities and Exchange Commission on the date hereof, I, Sean Carrick, Chief Executive Officer, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

1.	The Report fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities and Exchange Act of 1934 (15 U.S.C. 78m or 78o (d)), as amended; and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: February 11, 2020

/s/ Sean Carrick

Sean Carrick

President

(Principal Executive Officer)

EX-32.2

EXHIBIT 32.2

CERTIFICATE PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report (the “Report”) on the Form 10-Q of Nascent Biotech, Inc. (the “Company”) for the period ended December 31, 2019 as filed with the Securities and Exchange Commission on the date hereof, I, Lowell Holden, Chief Financial Officer, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:

1.	The Report fully complies with the requirements of Section 13 (a) or 15 (d) of the Securities and Exchange Act of 1934 (15 U.S.C. 78m or 78o (d)), as amended; and
2.	The information contained in the Report fairly presents, in all material respects, the financial condition and results of operation of the Company.

Date: February 11, 2020

/s/ Lowell Holden

Lowell Holden

Chief Financial Officer

(Principal Financial Officer

& Principal Accounting Officer)

XML

WARRANTS

9 Months Ended

Dec. 31, 2019

WARRANTS

NOTE 7 - WARRANTS

During the nine month period ended December 31, 2018, the Company issued 237,747 warrants for cash proceeds (Note 5). Each warrant is exercisable, within one year of the issuance, into one share of the Company’s common stock at $0.05 to $0.50 per share.

During the nine month period ended December 31, 2018 sixteen individuals exercised 1,665,710 warrants into 1,665,710 shares of common stock for cash of $83,285. As of December 31, 2018, the Company had total outstanding warrants of 237,747.

During the nine months ended December 31, 2018, 274,228 warrants expired.

During the nine months ended December 31, 2019 two individuals exercised 21,427 warrants into 21,427 shares of common stock for cash of $1,071.

During the nine months ended December 31, 2019, 216,320 warrants expired.

The weighted average remaining life and intrinsic value of the warrants as of December 31, 2019 was zero.

							Weighted
				Weighted			Average
				Average			Remaining
				Exercise			Contract		Intrinsic
	Warrants			Price			Life		Value
Outstanding at March 31, 2019		237,747		$	0.20			0.25	$	18,470
Granted		--			--			--		--
Exercised		(21,427	)		0.05			--		--
Expired		(216,320	)		(0.05	)		--		--
Outstanding at December 31, 2019		--		$	0.00			0.00	$	--

XML

RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Dec. 31, 2019

RELATED PARTY TRANSACTIONS (Tables)

Schedule of total shares earned by related party

Officer and Director	Initial Share Awards Under the Contracts		Additional Shares Earned to Maintain Ownership Percentage		Total Shares Earned
President		1,028,910		776,154		1,805,064
Chief Financial Officer		617,346		468,393		1,085,739
Executive Vice President		617,346		468,393		1,085,739
Total		2,263,602		1,712,940		3,976,542

Schedule of annual salary and annual severance amounts

Officer and Director	Fiscal Year Annualized Compensation Being Paid		Annual Severance per Contract if Terminated
President	$	186,000	$	250,000
Chief Financial Officer	$	132,000	$	180,000
Executive Vice President	$	84,000	$	140,000
Total	$	402,000	$	570,000

XML

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	1 Months Ended
	Jan. 03, 2020	Dec. 31, 2019	Jul. 26, 2019	Feb. 03, 2020	Sep. 30, 2019	Jul. 11, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018
Common stock issued
Common stock value		$ 35,961					$ 32,647
Officer and Director [Member]
Repayment of related party debt	$ 17,679		$ 10,000
Due to related party	$ 21,500					$ 10,000
Subsequent Event [Member]
Common stock issued				200,000
Common stock value				$ 20,000
Subsequent Event [Member] | 7% Convertible note [Member]
Conversion price, Description		The note matures on July 1, 2020 after which it is convertible into common stock of the Company at 75% of the lowest trading prices 15 days prior to conversion.
Convertible debt, amount		$ 161,250
Original issue discount		$ 11,250

XML

ORGANIZATION AND NATURE OF OPERATIONS

9 Months Ended

Dec. 31, 2019

ORGANIZATION AND NATURE OF OPERATIONS

NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS

Nascent Biotech, Inc. (“Nascent” or the “Company”) was incorporated on March 3, 2014 under the laws of the State of Nevada. The Company is actively developing its primary asset Pritumumab for the treatment of brain cancer and pancreatic cancer. Nascent is also actively researching other cancers that have a high probability of benefiting from the therapeutic effects of Pritumumab because they share a common target. Pritumumab has shown to be very effective at low doses in previous clinical studies in Japan. Nascent is a pre-clinical stage biopharmaceutical company that focuses on biologic drug candidates that are preparing for initial clinical testing for the treatment of brain and pancreatic cancer.

On March 31, 2017 the Company filed its IND submission with the Federal Drug Administration (FDA) for clearance to begin Phase I clinical trials. On December 7, 2018 the Company received a letter from the FDA allowing it to use a specific lot of drug substance to begin phase 1 clinical trials. The FDA also requested additional data to remove the partial clinical hold. The Company is responding to additional data requests from the FDA requiring additional testing of the product and additional materials to answer specific questions from the FDA.

On July 10, 2019 the Company filed an amended articles of Incorporation designating 1,500,000 shares of preferred stock as Series A Convertible preferred shares convertible into common stock.

On August 9, 2019 the Company signed a contract for clinical phase 1 studies with west coast clinic. The Company received its IRB clearance allowing the opening of clinical trials.

XML

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Mar. 31, 2019
Stockholders' deficit
Preferred stock, shares par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Series A preferred stock, shares authorized	110,000	110,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	35,960,870	32,646,635
Common stock, shares outstanding	35,960,870	32,646,635

XML

RELATED PARTY TRANSACTIONS (Details)	9 Months Ended
	Dec. 31, 2019 shares
Initial Share Awards Under the Contracts	2,263,602
Additional Shares Earned to Maintain Ownership Percentage	1,712,940
Total Shares Earned	3,976,542
President [Member]
Initial Share Awards Under the Contracts	1,028,910
Additional Shares Earned to Maintain Ownership Percentage	776,154
Total Shares Earned	1,805,064
Chief Financial Officer [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	468,393
Total Shares Earned	1,085,739
Executive Vice President [Member]
Initial Share Awards Under the Contracts	617,346
Additional Shares Earned to Maintain Ownership Percentage	468,393
Total Shares Earned	1,085,739

XML

OPTIONS (Details) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Intrinsic value
Outstanding option, Exercised		1,665,710
Options [Member]
Number of option exercisable
Number of option exercisable, Beginning	1,397,000
Number of option exercisable, Ending	1,397,000
Weighted average exercise price
Weighted average exercise price, Beginning	$ 0.34
Weighted average exercise price, Granted
Weighted average exercise price, Exercised
Weighted average exercise price, Ending	$ 0.34
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	6 years 9 months 18 days
Weighted Average Remaining Contract life, Ending	6 years 18 days
Intrinsic value
Intrinsic value, Beginning
Intrinsic value, Ending
Outstanding option, Beginning	1,405,000
Outstanding option, Exercised
Outstanding option, granted
Outstanding option, Ending	1,405,000

XML

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	1 Months Ended
	Sep. 30, 2016	Dec. 31, 2019
Contingent sales fee description	A contingent sales fee upon first commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.
Annual maintenance fee payable		$ 100,000
First Phase I clinical trial [Member]
Future payments	100,000
Annual maintenance fee	50,000
First Phase III clinical trial [Member]
Future payments	225,000
First Biologics License [Member]
Future payments	$ 225,000

XML

WARRANTS (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Two warrant holders [Member]
Warrants exercised	21,427
Proceeds from exercise of warrants	$ 1,071
Exercise price of warrants	$ 0.05
Warrant [Member]
Warrants exercisable period	1 year
Warrants exercised		1,665,710
Warrants issued, shares	237,747
Common shares issued upon exercise of warrants, value		$ 83,285
Common shares issued upon exercise of warrants		1,665,710
Outstanding warrants		237,747
Warrants expired, shares	216,320	274,228
Warrant [Member] | Maximum [Member]
Exercise price of warrants		$ 0.50
Warrant [Member] | Minimum [Member]
Exercise price of warrants		$ 0.05

XML

ORGANIZATION AND NATURE OF OPERATIONS (Details Narrative) - shares	9 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Mar. 31, 2019
State of Incorporation	Nevada
Date of Incorporation	Mar. 03, 2014
Preferred stock shares authorized	10,000,000		10,000,000
Series A Convertible Preferred Stock [Member]
Preferred stock shares authorized		1,500,000

XML

EQUITY (Details Narrative) - USD ($)	1 Months Ended			9 Months Ended
	Dec. 30, 2019	Dec. 11, 2019	Jul. 25, 2019	Dec. 31, 2019	Dec. 31, 2018
Common stock and warrants issued, value					$ 83,285
Warrants exercised					1,665,710
Two warrant holders [Member]
Warrants exercised				21,427
Proceeds from exercise of warrants				$ 1,071
Exercise price of warrants				$ 0.05
Series A Preferred shares [Member]
Conversion of Stock, Per share	$ 1.00
Common shares issued, shares			110,000
Preferred stock vesting description			Each share of series A preferred is convertible after 180 days to four shares of common stock($0.25 per share) or at the lowest of: (i) the fixed conversion price; (ii) the equitant of 70% of the lowest closing price for the 20 days prior to the conversion of the preferred shares and accumulates 7% interest annually.
Preferred stock issued, value			$ 110,000
Common Stock [Member]
Common shares issued for services, amount		$ 15,000
Common shares issued for services, shares		150,000
Three Officers [Member]
Common shares issued for services, amount					$ 96,822
Common shares issued for services, shares					373,381
Three Officers And Director And Chairman [Member]
Conversion of Stock, Shares Converted	2,469,536
Conversion of Stock, Amount Converted	$ 282,000
Three Officers And Director And Chairman [Member] | Minimum [Member]
Conversion of Stock, Per share	$ 0.10
Three Officers And Director And Chairman [Member] | Maximum [Member]
Conversion of Stock, Per share	$ 0.1548
Eight Individuals [Member]
Common stock and warrants issued, value					$ 393,000
Class of warrants or rights issued					237,747
Common shares issued, shares					1,277,142
Eight Individuals [Member] | Minimum [Member]
Conversion price of shares					$ 0.05
Eight Individuals [Member] | Maximum [Member]
Conversion price of shares					$ 0.50
Two Entities [Member]
Common shares issued for services, amount				$ 47,300
Common shares issued for services, shares				300,000
Two individual [Member]
Common shares issued for services, amount					$ 27,500
Common shares issued for services, shares					70,000
Three Officers And Director [Member]
Common shares issued for services, amount				$ 50,030
Common shares issued for services, shares				373,272
Two Officers And Directors [Member]
Common stock shares issued upon conversion of accrued fees

XML

OPTIONS

9 Months Ended

Dec. 31, 2019

OPTIONS

NOTE 6 - OPTIONS

As of December 31, 2019 there was no option expenses recognized by the Company and the balance of unrecognized option expense was zero.

The following sets forth the options granted and outstanding during the nine months ended December 31, 2019:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contract Life		Number of Options Exercisable		Intrinsic Value
Outstanding at March 31, 2019		1,405,000	$	0.34		6.80		1,397,000	$	--
Granted		--		--		--		--		--
Exercised		--		--		--		--		--
Outstanding at December 31, 2019		1,405,000	$	0.34		6.05		1,397,000	$	--

The weighted average remaining life and intrinsic value of the options as of December 31, 2019, was 6.05 years and zero, respectively.

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BASIS OF PRESENTATION (Policies)

9 Months Ended

Dec. 31, 2019

BASIS OF PRESENTATION

Basic and Diluted Net Income (Loss) per Share

Basic net income (loss) per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. During the nine months ended December 31, 2019 the Company had a net loss so the options and warrants outstanding were not part the loss per share calculation as they would be antidilutive. Diluted income (loss) per share calculations includes the dilutive effect of warrants and options on the weighted average of the per share calculation.

Recent Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases. The main provisions of ASU No. 2016-02 require management to recognize lease assets and lease liabilities for all leases. ASU 2016-02 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous release’s guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous U.S. GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s financial statements and related disclosures.

Stock-Based Compensation

The Company accounts for stock-based compensation to employees and consultants in accordance with FASB ASC 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company estimates the fair value of stock-based payments using the Black Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances.

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STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net loss	$ (975,746)	$ (1,034,282)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation - related parties	50,030	96,822
Stock based compensation	47,300	27,500
Option expense		28,800
Changes in operating assets and liabilities:
Accounts payable and accrued expenses	314,162	336,186
Due to related parties	308,530	55,000
Net cash used in operating activities	(255,724)	(489,974)
Cash flows from financing activities:
Common stock issued for exercise of warrants	1,071	83,285
Proceeds from the sale of preferred shares for cash	110,000
Proceeds from the sale of common stock for cash	15,000
Proceeds from sale of common stock and warrants		393,000
Net cash provided by financing activities	126,071	476,285
Net decrease in cash	(129,653)	(13,689)
Cash - beginning of year	131,472	116,994
Cash - end of period	1,819	103,305
SUPPLEMENT DISCLOSURES:
Interest paid
Income taxes paid
Non Cash Transactions
Common stock issued for accrued expenses - related party	$ 282,000

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BALANCE SHEETS - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Current assets:
Cash	$ 1,819	$ 131,472
Total current assets	1,819	131,472
Total assets	1,819	131,472
Current liabilities:
Accounts payable and accrued liabilities	839,798	525,636
Due to related parties	114,530	88,000
Total current liabilities	954,328	613,636
Total liabilities	954,328	613,636
Commitments and contingencies
Stockholders' deficit:
Preferred stock, $0.001 par value, 10,000,000 authorized, 110,000 Series A and none issued and outstanding, respectively	110
Common stock, $0.001 par value; 100,000,000 authorized, 35,960,870 and 32,646,635 outstanding, respectively	35,961	32,647
Additional paid-in capital	12,820,662	12,318,685
Accumulated deficit	(13,809,242)	(12,833,496)
Total stockholders' deficit	(952,509)	(482,164)
Total liabilities and stockholder' deficit	$ 1,819	$ 131,472

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RELATED PARTY TRANSACTIONS (Details 1)	9 Months Ended
	Dec. 31, 2019 USD ($)
Fiscal year annualized compensation being paid	$ 402,000
Annual Severance per Contract if Terminated	570,000
President [Member]
Fiscal year annualized compensation being paid	186,000
Annual Severance per Contract if Terminated	250,000
Chief Financial Officer [Member]
Fiscal year annualized compensation being paid	132,000
Annual Severance per Contract if Terminated	180,000
Executive Vice President [Member]
Fiscal year annualized compensation being paid	84,000
Annual Severance per Contract if Terminated	$ 140,000

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OPTIONS (Details Narrative)	9 Months Ended
	Dec. 31, 2019 USD ($)
OPTIONS (Details Narrative)
Weighted average remaining contract life, Ending	6 years 18 days
Weighted average intrinsic value	$ 0

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RELATED PARTY TRANSACTIONS

9 Months Ended

Dec. 31, 2019

RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED PARTY TRANSACTIONS

On September 1, 2015, the Company entered five-year employment contracts with three of its officers and directors. Under the terms of the agreements the Company issued shares of common stock to the officers and directors equaling 11% of the outstanding shares of the Company as of the date of the contracts. As additional future shares are issued, the officers and directors are entitled to additional shares so their aggregate ownership percentage remains at 11% of the outstanding shares of the Company. The following table sets forth the shares earned under these contracts as of December 31, 2019:

Officer and Director	Initial Share Awards Under the Contracts		Additional Shares Earned to Maintain Ownership Percentage		Total Shares Earned
President		1,028,910		776,154		1,805,064
Chief Financial Officer		617,346		468,393		1,085,739
Executive Vice President		617,346		468,393		1,085,739
Total		2,263,602		1,712,940		3,976,542

In addition, if the officers and directors are removed from the Company, they are entitled to receive a cash severance payment per annum for each year of the term of the contract less salary payments received to date of termination. The table below sets forth the annual salary and annual severance amounts per the contracts:

Officer and Director	Fiscal Year Annualized Compensation Being Paid		Annual Severance per Contract if Terminated
President	$	186,000	$	250,000
Chief Financial Officer	$	132,000	$	180,000
Executive Vice President	$	84,000	$	140,000
Total	$	402,000	$	570,000

During the nine months ended December 31, 2018 the Company issued 373,381 shares of common stock to three officers of the Company with a value of $96,822 for service.

During the nine months ended December 31, 2018 the Company paid a related party and Chairman of the Scientific Board $14,000 in consulting fees and accrued $5,000 of the fees. During the nine months period ended December 31, 2019, Company paid $4,000 plus an outstanding accrual of $9,000 to the same individual.

As of December 31, 2018 the Company accrued $55,000 of compensation earned but not paid to related parties.

On July 11, 2019 an officer and director of the Company advanced the Company $10,000. The advance was on demand and bears no interest. On July 26, 2019 the Company repaid the $10,000 advance to the officer and director of the Company.

During the nine months ended December 31, 2019 an officer and director of the Company advanced the Company $37,620, $4,250 in cash and $33,370 in payment of accounts payable bills.

On December 30, 2019, three officers and directors and the chairman of the Scientific Board of the Company converted $282,000 of accrued fees into 2,469,536 shares of common stock at $0.10- $0.1548 per share.

During the nine months ended December 31, 2019, the Company issued 373,272 shares of common stock to three officers and a director for service with a value of $50,030.

During the nine month period ended December 31, 2019 the Company paid the related parties (three officers and directors) $59,000 in consulting fees in cash and accrued $120,710 of the consulting fees for a total of $179,710. In addition $6,209 in expenses were accrued for the related parties.

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COMMITMENTS AND CONTINGENCIES

9 Months Ended

Dec. 31, 2019

COMMITMENTS AND CONTINGENCIES

NOTE 8 - COMMITMENTS AND CONTINGENCIES

On September 30, 2016, the Company entered a cell line sales agreement with the product manufacturer. Under the terms of the agreement the Company is obligated to make future payments based on the milestones of its achievements. These future payments may be as followed;

1.	$100,000 upon the initiation (first dose/first patient) of the first Phase I clinical trial (or equivalent) of a Product;
2.	$225,000 upon the initiation (first dose/first patient) of the first Phase III clinical trial (or equivalent) of a Product
3.	$225,000 payable upon the first Biologics License Application approval (or equivalent) of a product.
4.	Annual maintenance fee upon completion of phase I manufacturing or the transfer of the cell line from Catalent’s control of $50,000;
5.	A contingent sales fee upon first commercial sale of a product of 1% of sales or $150,000 whichever is greater payable quarterly.

As of December 31, 2019 $100,000 was due for the annual maintenance fee.

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OPTIONS (Tables)

9 Months Ended

Dec. 31, 2019

BASIS OF PRESENTATION

Schedule of stock options and warrants outstanding

	Options		Weighted Average Exercise Price		Weighted Average Remaining Contract Life		Number of Options Exercisable		Intrinsic Value
Outstanding at March 31, 2019		1,405,000	$	0.34		6.80		1,397,000	$	--
Granted		--		--		--		--		--
Exercised		--		--		--		--		--
Outstanding at December 31, 2019		1,405,000	$	0.34		6.05		1,397,000	$	--

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BASIS OF PRESENTATION

9 Months Ended

Dec. 31, 2019

BASIS OF PRESENTATION

NOTE 2 - BASIS OF PRESENTATION

The accompanying financial statements have been prepared in accordance with U.S. generally accepted accounting principles. The Company has elected a fiscal year ending on March 31.

The accompanying unaudited interim financial statements of the Company for the three and nine months ended December 31, 2019 and 2018 have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information in accordance with Securities and Exchange Commission and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s annual report on Form 10-K for the year ended March 31, 2019. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position and the results of operations for the interim periods presented herein. The results of operations for the interim periods are not necessarily indicative of the results to be expected for any subsequent quarters or for an entire year.

Basic and Diluted Net Income (Loss) per Share

Basic net income (loss) per share calculations are calculated on the basis of the weighted average number of common shares outstanding during the year. During the nine months ended December 31, 2019 the Company had a net loss so the options and warrants outstanding were not part the loss per share calculation as they would be antidilutive. Diluted income (loss) per share calculations includes the dilutive effect of warrants and options on the weighted average of the per share calculation.

Stock-Based Compensation

The Company accounts for stock-based compensation to employees and consultants in accordance with FASB ASC 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company estimates the fair value of stock-based payments using the Black Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances.

Recent Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases. The main provisions of ASU No. 2016-02 require management to recognize lease assets and lease liabilities for all leases. ASU 2016-02 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous release’s guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous U.S. GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s financial statements and related disclosures.

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STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Operating expenses:
Consulting	$ 181,290	$ 109,846	$ 494,300	$ 448,322
General and administrative expense	62,107	121,724	249,625	409,548
Research and development	124,925	25,000	255,578	176,439
Loss from operations	(368,232)	(256,570)	(969,503)	(1,034,309)
Other income (expense):
Interest income		5	6	27
Interest expense	(1,920)		(6,249)
Total other income (expense)	(1,920)	5	(6,243)	27
Net loss	$ (370,152)	$ (256,565)	$ (975,746)	$ (1,034,282)
Net loss per share, basic and diluted	$ (0.01)	$ (0.01)	$ (0.03)	$ (0.04)
Weighted average number of shares outstanding, basic and diluted	33,828,331	30,600,054	33,419,628	29,503,095

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WARRANTS (Tables)

9 Months Ended

Dec. 31, 2019

WARRANTS (Tables)

Schedule of warrants

							Weighted
				Weighted			Average
				Average			Remaining
				Exercise			Contract		Intrinsic
	Warrants			Price			Life		Value
Outstanding at March 31, 2019		237,747		$	0.20			0.25	$	18,470
Granted		--			--			--		--
Exercised		(21,427	)		0.05			--		--
Expired		(216,320	)		(0.05	)		--		--
Outstanding at December 31, 2019		--		$	0.00			0.00	$	--

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EQUITY

9 Months Ended

Dec. 31, 2019

EQUITY

NOTE 5 - EQUITY

Preferred Stock

On July 25, 2019 the Company issued 110,000 shares at $1.00 per share of series A convertible preferred to one entity with a value of $110,000 for cash. Each share of series A preferred is convertible after 180 days to four shares of common stock ($0.25 per share) or at the lowest of: (i) the fixed conversion price; (ii) the equitant of 70% of the lowest closing price for the 20 days prior to the conversion of the preferred shares and accrues 7% interest annually.

Common Stock

During the nine months ended December 31, 2018 the Company issued 1,277,142 shares of common stock to 15 individuals plus 237,747 warrants to eight individuals for $393,000 in cash. The warrants vest immediately and terminate in one year with conversion prices ranging from $0.05-$0.50.

During the nine months ended December 31, 2018 the Company issued 1,665,710 shares of common stock for the exercise of 1,665,710 warrants for cash of $83,285.

During the nine month period ended December 31, 2018 the Company issued 70,000 shares of common stock of the Company to two individuals with a value of $27,500 for service.

During the nine month period ended December 31, 2018 the Company issued 373,381 shares of common stock to three officers of the Company with a value of $96,822 for service.

During the nine months ended December 31, 2019, two warrant holders exercised 21,427 warrants for common stock at $0.05 per share for cash of $1,071.

On December 11, 2019 the Company issued 150,000 shares of common stock with a value of $15,000 for cash.

During the nine months period ended December 31, 2019 Company issued 300,000 shares of common stock to two entities with a value of $47,300 for service.

On December 30, 2019, three officers and directors and the chairman of the Scientific Board of the Company converted $282,000 of accrued fees into 2,469,536 shares of common stock at $0.10-$0.1548 per share.

During the nine months ended December 31, 2019, the Company issued 373,272 shares of common stock to three officers and a director for service with a value of $50,030.

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SUBSEQUENT EVENTS

9 Months Ended

Dec. 31, 2019

SUBSEQUENT EVENTS

NOTE 9 - SUBSEQUENT EVENTS

On December 31, 2019 the Company signed a 7% Convertible note for $161,250 with an OID of $11,250. The note was funded on January 3, 2020. The note matures on July 1, 2020 after which it is convertible into common stock of the Company at 75% of the lowest trading prices 15 days prior to conversion.

On January 3, 2020 the Company repaid an officer and director of the Company $17,679 in advances and expenses for the Company leaving a balance due the officer of $21,500.

On February 3, 2020 the Company issued 200,000 shares of common stock to one individual with a value of $20,000 for cash.

The Company has evaluated subsequent events to determine events occurring after December 31, 2019 through February 11, 2020 that would have a material impact on the Company’s financial results or require disclosure and have determined none exist other than those noted above in this footnote.

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STATEMENTS OF STOCKHOLDERS DEFICIT (Unaudited) - USD ($)	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Balance, shares at Mar. 31, 2018		27,753,365
Balance, amount at Mar. 31, 2018	$ (86,379)	$ 27,754		$ 11,350,456	$ (11,464,589)
Common stock issued to related parties for service, Amount	50,030	$ 373		49,657
Common stock issued to related parties for service, Shares		373,272
Common stock issued for stock and warrants, Amount	393,000	$ 1,277		391,723
Common stock issued for service, Amount	27,500	$ 70		27,430
Common stock issued for service, Shares		70,000
Common stock issued for stock and warrants, Shares		1,277,142
Option expense	28,800			28,800
Common stock issued for warrant exercise, Shares		1,665,710
Common stock issued for warrant exercise, Amount	83,285	$ 1,666		81,619
Net loss	$ (1,034,282)				$ (1,034,282)
Balance, shares at Sep. 30, 2018		30,532,857
Balance, amount at Sep. 30, 2018	$ (390,635)	$ 30,533		$ 11,821,138	$ (12,242,306)
Common stock issued to related parties for service, Amount	$ 11,346	$ 67		$ 11,279
Common stock issued to related parties for service, Shares		66,741
Common stock issued for stock and warrants, Amount	$ 135,000	$ 540		$ 134,460
Common stock issued for stock and warrants, Shares		540,000
Net loss	(256,565)				$ (256,565)
Option discount	$ 9,600			$ 9,600
Balance, shares at Dec. 31, 2018		31,139,598
Balance, amount at Dec. 31, 2018	$ (491,254)	$ 31,140		$ 11,976,477	$ (12,498,871)
Balance, shares at Mar. 31, 2019		32,646,635
Balance, amount at Mar. 31, 2019	$ (482,164)	$ 32,647		$ 12,318,685	$ (12,833,496)
Common stock issued to related parties for service, Amount	50,030	$ 373		49,657
Common stock issued to related parties for service, Shares		373,272
Common stock issued for service, Amount	47,300	$ 300		47,000
Common stock issued for service, Shares		300,000
Common stock issued for warrant exercise, Shares		21,427
Common stock issued for warrant exercise, Amount	1,071	$ 21		1,050
Net loss	(975,746)				$ (975,746)
Preferred shares issued for cash, Amount	110,000		110	109,890
Common stock issued for cash, Amount	15,000	$ 15		14,850
Preferred shares issued for cash, Shares			110,000
Common stock issued related parties for debt, Shares		2,469,536
Common stock issued related parties for debt, Amount	$ 282,000	$ 2,469		$ 279,530
Common stock issued for cash, Shares		150,000
Balance, shares at Sep. 30, 2019		33,772,970	110,000
Balance, amount at Sep. 30, 2019	$ (801,146)	$ 33,774	$ 110	$ 12,604,060	$ (13,439,090)
Common stock issued to related parties for service, Amount	183,000	$ 1,830		181,170
Common stock issued to related parties for service, Shares		1,830,000
Net loss	(370,152)				$ (370,152)
Common stock issued for cash, Amount	15,000	$ 150		14,850
Common stock issued for cash, Shares		150,000
Common stock issued for service-related parties, Amount	$ 20,789	$ 207		$ 20,582
Common stock issued for service-related parties, Shares		207,900
Balance, shares at Dec. 31, 2019		35,960,870	110,000
Balance, amount at Dec. 31, 2019	$ (952,509)	$ 35,961	$ 110	$ 12,820,662	$ (13,809,242)

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Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2019	Feb. 11, 2020
Document And Entity Information
Entity Registrant Name	Nascent Biotech Inc.
Entity Central Index Key	0001622057
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 31, 2019
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		36,160,870
EntityFileNumber	000-55299
EntityAddressAddressLine1	6330 Nancy Ridge Dr.
EntityAddressAddressLine2	Suite 105
EntityAddressPostalZipCode	92121
EntityTaxIdentificationNumber	450612715
EntityAddressCityOrTown	San Diego
LocalPhoneNumber	961-5656
CityAreaCode	612
EntityAddressStateOrProvince	CALIFORNIA

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GOING CONCERN

9 Months Ended

Dec. 31, 2019

GOING CONCERN

NOTE 3 - GOING CONCERN

The Company’s financial statements are prepared using accounting principles generally accepted in the United States of America applicable to a going concern that contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has a working capital deficit and has incurred losses from operations. The Company has no revenue to cover its operating costs and the Company will incur additional expenses in the future developing their product. These factors raise substantial doubt about the company’s ability to continue as a going concern. The Company engages in research and development activities that must be satisfied in cash secured through outside funding. The Company may offer noncash consideration and seek equity lines as a means of financing its operations. If the Company is unable to obtain revenue producing contracts or financing or if the revenue or financing it does obtain is insufficient to cover any operating losses it may incur, it may substantially curtail or terminate its operations or seek other business opportunities through strategic alliances, acquisitions or other arrangements that may dilute the interests of existing stockholders. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

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RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	1 Months Ended			3 Months Ended		9 Months Ended
	Jan. 03, 2020	Dec. 30, 2019	Jul. 26, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jul. 11, 2019	Mar. 31, 2019	Dec. 31, 2017
Accrued consulting fees				$ 6,000		$ 6,000
Related party debt				37,620		37,620
Consulting fees, paid				$ 181,290	$ 109,846	$ 494,300	$ 448,322
Common stock shares issued				35,960,870		35,960,870			32,646,635
Two Officers And Directors [Member] | Accounts Payable [Member]
Related party debt				$ 33,370		$ 33,370
Officer and Director [Member]
Accrued consulting fees				120,710	5,000	120,710	5,000
Related party debt				4,250		4,250
Consulting fees, paid						59,000	$ 14,000
Total consulting fees, paid				179,710		179,710				$ 45,000
Due to related party	$ 21,500							$ 10,000
Repayment of related party debt	$ 17,679		$ 10,000
Common stock shares issued				373,272		373,272
Common stock shares issued, amount						$ 50,030
Three Officers [Member]
Accrued compensation				$ 6,209		$ 6,209
Common shares issued for services, shares							373,381
Common shares issued for services, value							$ 96,822
Three Officers And Director [Member]
Common stock shares issued upon debt conversion		2,469,536
Three Officers And Director [Member] | September 1, 2015 [Member]
Officers and directors employment agreement terms, description						The Company entered five-year employment contracts with three of its officers and directors. Under the terms of the agreements the Company issued shares of common stock to the officers and directors equaling 11% of the outstanding shares of the Company as of the date of the contracts. As additional future shares are issued, the officers and directors are entitled to additional shares so their aggregate ownership percentage remains at 11% of the outstanding shares of the Company
Related party and Chairman of the Scientific Board [Member]
Consulting fees, paid						$ 4,000	9,000
Outstanding accrual fees				$ 9,000		$ 9,000
Accrued compensation					$ 55,000		$ 55,000
Conversion of debt into equity		$ 282,000
Common stock shares issued upon debt conversion		2,469,536
Related party and Chairman of the Scientific Board [Member] | Maximum [Member]
shares price		$ 0.1548
Related party and Chairman of the Scientific Board [Member] | Minimum [Member]
shares price		$ 0.10

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Warrants (Details)	9 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Number of warrants
Outstanding warrants, Beginning | shares	237,747
Outstanding warrants, granted | shares
Outstanding warrants, Exercised | shares	(21,427)
Outstanding warrants, Expired | shares	(216,320)
Outstanding warrants, Ending | shares
Weighted average exercise price
Weighted average exercise price, Beginning | $ / shares	$ 0.20
Weighted average exercise price, Granted | $ / shares
Weighted average exercise price, Exercised | $ / shares	0.05
Weighted average exercise price, Expired | $ / shares	(0.05)
Weighted average exercise price, Ending | $ / shares	$ 0.00
Weighted Average Remaining Contract Life
Weighted Average Remaining Contract life, Beginning	2 months 30 days
Weighted Average Remaining Contract life, Ending
Intrinsic value
Intrinsic value, Beginning | $	$ 18,470
Intrinsic value, Ending | $