10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.

FORM 10-Q

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

For the quarterly period ended April 30, 2018

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 000-55654

NUTRIBAND INC.

(Exact name of registrant as specified in its charter)

NEVADA	81-1118176
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

309 Celtic Court, Oviedo, Florida	32765
(Address of Principal Executive Offices)	(Zip Code)

(385) 881-3385

(Registrant’s Telephone Number, Including Area Code)

(Former Name, Former Address and Former Fiscal Year, if changed since last report)

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) has been subject to such filing requirements for the past 90 days. Yes ☒    No ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☐    No ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐ (Do not check if a smaller reporting company)	Smaller reporting company	☒
		Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 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 ☒

The number of shares outstanding of the issuer’s common stock, par value $0.001 per share, was 21,304,100 as of June 18, 2018.

NUTRIBAND INC.

INDEX

	Page
Part I. Financial Information	1
Item 1. Financial Statements	1
Condensed Consolidated Balance Sheets as of April 30, 2018 (unaudited) and as of January 31, 2018	2
Condensed Consolidated Statements of Operations for the Three Months Ended April 30, 2018 and 2017 (unaudited)	3
Condensed Consolidated Statements of Cash Flows for the Three Months Ended April 30, 2018 and 2017 (unaudited)	4
Notes to Unaudited Condensed Consolidated Financial Statements	5
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	9
Item 3. Quantitative and Qualitative Disclosures about Market Risk	11
Item 4. Controls and Procedures	11
Part II. Other Information	12
Item 6. Exhibits	12
Signatures	13

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

Certain information and footnote disclosures required under accounting principles generally accepted in the United States of America have been condensed or omitted from the following financial statements pursuant to the rules and regulations of the Securities and Exchange Commission.

The results of operations for the three months ended April 30, 2018 and 2017 are not necessarily indicative of the results for the entire fiscal year or for any other period.

1

NUTRIBAND INC. AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

	April 30,			January 31,
	2018			2018
	(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	-		$	-
Inventories		4,133			4,133
Prepaid expenses		106,753			160,503
VAT receivable		-			263
Total Current Assets		110,886			164,899
TOTAL ASSETS	$	110,886		$	164,899
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)
CURRENT LIABILITIES:
Accounts payable and accrued expenses	$	77,128		$	12,341
Due to related parties		40,905			14,230
Notes payable		41,797			16,820
Total Current Liabilities		159,830			43,391
Commitments and Contingencies		-			-
STOCKHOLDERS' EQUITY (DEFICIENCY):
Preferred stock, $.001 par value, 10,000,000 shares authorized, -0- outstanding		-			-
Common stock, $.001 par value, 100,000,000 shares authorized; 20,877,100 and 20,877,100 shares issued and outstanding at April 30, 2018 and January 31, 2018, respectively		20,877			20,877
Additional paid-in-capital		2,950,487			2,950,487
Common stock to be issued		277,500			-
Accumulated other comprehensive loss		(300	)		(446	)
Accumulated deficit		(3,297,508	)		(2,849,410	)
Total Stockholders' Equity (Deficiency)		(48,944	)		121,508
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)	$	110,886		$	164,899

See notes to unaudited consolidated financial statements

2

NUTRIBAND INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(Unaudited)

	Three Months Ended
	April 30,
	2018			2017
Revenue	$	-		$	-
Costs and expenses:
Selling, general and administrative expenses		448,098			35,617
Loss from operations before provision for income taxes		(448,098	)		(35,617	)
Provision for income taxes		-			-
Net loss	$	(448,098	)	$	(35,617	)
Net loss per common share-basic and diluted	$	(0.02	)	$	(0.00	)
Weighted average common shares outstanding - basic and diluted		20,877,100			15,572,100
Other Comprehensive Income (Loss):
Net loss	$	(448,098	)	$	(35,617	)
Foreign currency translation adjustment		146			(96	)
Total Comprehensive Loss	$	(447,952	)	$	(35,713	)

See notes to unaudited consolidated financial statements

3

NUTRIBAND INC. AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Three Months Ended
	April 30,
	2018			2017
Cash flows from operating activities:
Net loss	$	(448,098	)	$	(35,617	)
Adjustments to reconcile net loss to net cash used in operating activities:
Expenses paid on behalf of Company by related party		24,300			-
Stock-based compensation		277,500			-
Changes in operating assets and liabilities:
Inventories		-			785
Prepaid expenses		54,011			750
Accounts payable and accrued expenses		64,846			6,001
Net Cash Used In Operating Activities		(27,441	)		(28,081	)
Cash flows from investing activities:
Net Cash Provided by Investing Activities		-			-
Cash flows from financing activities:
Proceeds from notes payable		25,000			-
Change in bank overdraft		(59	)		-
Proceeds from related parties		2,500			2,300
Payment of related party payables		-			(750	)
Net Cash Provided by Financing Activities		27,441			1,550
Effect of exchange rate on cash		-			-
Net increase (decrease) in cash		-			(26,531	)
Cash and cash equivalents - Beginning of period		-			27,124
Cash and cash equivalents - End of period	$	-		$	593
Supplementary information:
Cash paid for:
Interest	$	-		$	-
Income taxes	$	-		$	-
Supplementary disclosure of non-cash investing and financing activities
Common stock to be issued for services	$	277,500

See notes to unaudited consolidated financial statements

4

NUTRIBAND INC. AND SUBSIDIARY

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

AS OF AND FOR THE THREE MONTHS ENDED APRIL 30, 2018 AND 2017

1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The consolidated balance sheet as of April 30, 2018 and the consolidated statements of operations and cash flows for the periods presented have been prepared by Nutriband, Inc. and Subsidiary (the “Company” or “Nutriband”) and are unaudited. The consolidated financial statements are prepared in accordance with the requirements for unaudited interim periods, and consequently, do not include all disclosures required to be made in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the financial position, results of operations, changes in stockholders’ equity and cash flows for all periods presented have been made. The information for the consolidated balance sheet as of January 31, 2018 was derived from audited financial statements of the Company.

Organization

Nutriband Inc. (the “Company” or “Nutriband”) was incorporated in the State of Nevada in January 2016. In January 2016, the Company acquired Nutriband Ltd. (“Nutriband Ltd”), a company registered in Dublin, Ireland, to enter the health and wellness market with new applications of transdermal patches. Nutriband Ltd. moved manufacturing and operations to the United States during 2016. Since then, Nutriband Inc. has developed a full line of consumer and health products which it plans to sell internationally. Through its acquisition and internal development strategy, the Company is developing a pipeline for transdermal prescription medications. For the Company’s planned operations in the U.S., it will be subject to the rules of the Food and Drug Administration (“FDA”); the Company plans to seek FDA clearance, where required, for its transdermal patches and other products marketed in the U.S.

Going Concern

The consolidated financial statements for the three months ended April 30, 2018, have been prepared on a going concern basis which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company has a past history of recurring losses from operations. The Company will require additional funding to execute its future strategic business plan. Successful business operations and its transition to attaining profitability are dependent upon obtaining additional financing and achieving a level of revenue to support its cost structure. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

Management acquired Nutriband Ltd. in 2016 to enter the health supplement market. The Company is also exploring some acquisition opportunities which would expand the Company’s operations into the pharmaceutical field.

Management believes these proposed acquisitions will be profitable and the cash flows from these operations will enable the Company to fund the operations of the consolidated group for a period of one year from the issuance of these financial statements. Therefore, the annual financial statements continue to be prepared on a going concern basis.

Significant Accounting Policies

The Company’s significant accounting policies are found below. These policies should be read in conjunction with Note 1 found in the Company’s Annual Report on Form 10-K for the year ended January 31, 2018.

Principles of Consolidation

The consolidated financial statements of the Company include the Company and its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated.

Use of Estimates

The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates including, but not limited to, those related to such items as income tax exposures, accruals, depreciable/useful lives, allowance for doubtful accounts and valuation allowances. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

5

Evaluation of Long-lived Assets

Patents represent an important component of the Company’s total assets. The Company amortizes its patents on a straight-line basis over the estimated useful lives of the assets. Management reviews long-lived assets for potential impairment whenever significant events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment exists when the carrying amount of the long-lived asset is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. If an impairment exists, the resulting write-down would be the difference between fair market value of the long-lived asset and the related net book value. As of January 31, 2018, the Company recorded an impairment charge of $2,500,000 and reduced the book value of the patent to be $-0-.

Recently Adopted Accounting Standards

In May, 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09””), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to a customer. Subsequently, the FASB issued several other updates related to revenue recognition (collectively with ASU 201-09, the “new revenue standards”). The Company adopted the guidance under the new revenue standards using the modified retrospective transaction method effective February 1, 2018. The Company does not expect the adoption of the new revenue standards to have a material impact on its consolidated financial statements.

Accounting Standards Issued But Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, “Leases” (Topic 842), to provide a new comprehensive model for lease accounting under this guidance, lessees and lessors should apply a “right-of-use” model in accounting for all leases (including subleases) and eliminate the concept of operating leases and off-balance-sheet leases. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. Similar modifications have been made to lessor accounting in-line with revenue recognition guidance. This guidance is effective for the annual periods and interim periods beginning December 15, 2018. The amendments also require certain quantitave and qualitative disclosures about leasing arrangements. Early adoption is permitted. The update guidance requires a modified retrospective adoption. We are currently in the process of evaluating this new standard update.

The Company has implemented all new pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements or results of operations.

2. INVENTORIES

Inventory as of April 30, 2018 and January 31, 2018 are as follows:

	April 30,		January 31,
	2018		2018
Finished goods	$	4,133	$	4,133
Work in progress		-		-
Raw materials		-		-
	$	4,133	$	4,133

3. DEBT

Short-term debt-related parties as of April 30, 2018 and January 31, 2018, consists of loans from officers and related parties, that are interest free and due on demand. As of April 30, 2018 and January 31, 2018, short-term debt amounted to $40,905 and $14,230, respectively. The loans were paid in full May 2018.

6

Short-term debt as of April 30, 2018 and January 31, 2018, consists of a loan from South County Dublin Council that is interest free with monthly payments of $75. The loan is due October 2017. As of January 31, 2018, and 2017, the total balance of long-term debt (current portion) amounted to $1,797 and $1,820, respectively. The loans were paid in full May 2018.

On September 12, 2017, the Company received an interest-free loan from TII Jet Services LDA in the amount of $15,000. The Company received an additional advance of $25,000 during April 2018. The loan is interest free and due upon demand. As of April 30, 2018 and January 31, 2018, the balance due was $40,000 and $15,000, respectively, and amount is included in short-term debt.

4. RELATED PARTY TRANSACTIONS

a) As of April 30, 2018 and January 31, 2018, Ann Sheridan, mother of the Chief Executive Officer and a Director of Nutriband Limited (Ireland), advanced the Company $10,105 and $10,230, respectively, for operating capital. The advance is interest free and due on demand. The advance was repaid in full May 2018.

b) During the year ended January 31, 2018, the Chief Financial Officer advanced $8,250 to the Company, all of which was repaid as of January 31, 2018. Additionally, the Company had amounts owed to the CFO for payments made on behalf of the Company of $30,800 and $4,000 as of April 30, 2018 and January 31, 2018, respectively. The amounts were repaid in full May 2018.

5. COMMON STOCK

The Company recorded the fair value of 110,000 shares valued at $277,500 during the three months ended April 30, 2018 and reflected the issuance of these shares as common stock to be issued as of April 30, 2018.

6. WARRANTS

The following table summarizes the changes in warrants outstanding and the related price of the shares of the Company’s common stock issued to non-employees of the Company.

			Exercise		Remaining		Intrinsic
	Shares		Price		Life		Value
Outstanding, February 1, 2018		730,000	$	1.58		1.35 years		-
Granted		-		-		-		-
Expired/Cancelled		-		-		-		-
Exercised		-		-		-		-
Outstanding-period ending April 30, 2018		730,000	$	1.58		1.10 years	$	-
Exercisable - period ending April 30, 2018		650,000	$	1.35		0.97 years	$	-

7. EARNINGS PER SHARE

Basic earnings per common share are computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net earnings by the weighted average number of common shares and potential common shares outstanding during the period. Potential common shares consist of outstanding common stock purchase warrants. As of April 30, 2018 there were 730,000 common stock equivalents outstanding, that were not included in the calculation of dilutive earnings per share as their effect would be anti-dilutive.

7

8. SUBSEQUENT EVENTS

On April 5, 2018, the Company entered into an acquisition agreement to acquire a 100% interest in 4P Therapeutics Inc. in exchange for $400,000 and 250,000 shares of common stock of the Company. The shares will be issued and payment made upon the completion of the certified audit of 4P Therapeutics Inc. 4P Therapeutics Inc. will become the pharmaceutical and development arm of Nutriband with specific focus on Transdermal and Topical Technologies, prescription drugs and clinical development.

On May 2, 2018, the Company received proceeds of $1 million from Barandnic Holdings Ltd. in connection with the sale of 250,000 shares of the Company’s common stock. In connection with the sale, the purchaser received a five-year warrant to purchase 250,000 shares at an exercise price of $4.00 per share. On May 27, 2018, Barandic Holdings Ltd. exercised 125,000 common stock warrants and the Company received proceeds of $500,000.

On May 16, 2018, the Company issued 160,000 shares of common stock for services. The fair value of the common stock issued was $602,500, of which $277,500 was expensed during the three months ended April 30, 2018.

On June 13, 2018, the Company signed a letter of intent to acquire 100% of Carmel Biosciences, a pharmaceutical company that addresses critical needs in new drug and liquid reformulation for cardiovascular and metabolic therapies. The Company plans to complete the acquisition, valued at approximately $3.8 million, through payment of the issuance of 450,000 shares of the Company’s common stock. In December 2007, Carmel Biosciences received FDA approval for PREXXARTAN, the first and only approved oral liquid dosage form of the angiotensin receptor block (ARB) valsartan in the Unite States.

8

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of our financial condition and results of operations should be read in conjunction with the financial statements and notes thereto and other financial information included elsewhere in this report.

Certain statements contained in this report, including, without limitation, statements containing the words “believes,” “anticipates,” “expects” and words of similar import, constitute “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including our ability to create, sustain, manage or forecast our growth; our ability to attract and retain key personnel; changes in our business strategy or development plans; competition; business disruptions; adverse publicity; and international, national and local general economic and market conditions.

GENERAL

Overview

The Company was incorporated in the State of Nevada on January 4, 2016. We plan to enter the health and wellness market with new applications of transdermal patches. Nutriband Ltd. moved manufacturing and operations to the United States during 2016. Since then, Nutriband Inc. has developed a full line of consumer and health products which it plans to sell internationally. Through its acquisition and internal development strategy, the Company is developing a pipeline for transdermal prescription medications. In our planned operations in the U.S., the Company will be subject to the rules and regulations of the Food and Drug Administration (“FDA”); we plan to seek FDA clearance, where required, for our transdermal patches and other products that we market in the U.S.

RESULTS OF OPERATIONS

THREE MONTHS ENDED April 30, 2018

Revenues

Our revenue was -0- and we incurred a net loss of $448,098 for the three months ended April 30, 2018.

General and Administrative Expenses

For the three months ended April 30, 2018 our selling, general and administrative expenses were $448,098 primarily due to professional fees, consulting fees and payroll expense. The increase from 2017 is primarily due to an increase in legal fees and payroll expenses during the quarter. The increase in payroll expense is primarily due to the issuance of common stock for services performed in the amount of $277,500. The amount of such fees and expenses is not indicative of future expenses to be incurred in the current fiscal year.

THREE MONTHS ENDED April 30, 2017

Revenues

Our revenue was -0- and we incurred a net loss of $35,617 for the three months ended April 30, 2017.

General and Administrative Expenses

For the three months ended April 30, 2017 our selling, general and administrative expenses were $35,617 primarily due to professional fees.

9

LIQUIDITY AND CAPITAL REQUIREMENTS

Overview

As of April 30, 2018, the Company had $-0-in cash. We estimate that we will require up to $5,000,000 of capital for the next twelve months of operations. We estimate that our expenses will be comprised primarily of general expenses including particularly marketing and research and development costs, overhead, legal and accounting fees. 

We will have to raise funds to pay for our expenses. We may have to borrow money from shareholders or issue debt or equity or enter into a strategic arrangement with a third party. Although we have recently completed an equity financing of $1 million and also received proceeds of $500,000 from the exercise of purchase stock warrants during May 2018, there can be no assurance that additional capital will be available to us. We currently have no arrangements or understandings with any person to obtain additional funds through bank loans, lines of credit or any other sources.

Going Concern

As of January 31, 2018 and April 30, 2018, the Company had accumulated deficits of $2,849,410 and $3,297,508 respectively. 

The accompanying consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplate continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The ability of the Company to continue its operations is dependent on the execution of management’s plans, which include the raising of capital through the debt and/or equity markets, until such time that funds provided by operations are sufficient to fund working capital requirements. If the Company were not to continue as a going concern, it would likely not be able to realize its assets at values comparable to the carrying value or the fair value estimates reflected in the balances set out in the preparation of the consolidated financial statements.

There can be no assurances that the Company will be successful in generating additional cash from the equity/debt markets or other sources to be used for operations. The consolidated financial statements do not include any adjustments relating to the recoverability of assets and classification of assets and liabilities that might be necessary.

Estimated 2018 Capital Requirements

We estimate our capital requirements over the next twelve months for the development and marketing of our products to be $2,000,000 to $5,000,000, depending on the products we select for development.

Off Balance Sheet Arrangements

We currently have no off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Critical Accounting Policies

The discussion and analysis of our plan of operations is based upon our consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of our consolidated financial statements requires us to make estimates and assumptions that affect our reported results of operations and the amount of reported assets and liabilities.

Some accounting policies involve judgments and uncertainties to such an extent that there is reasonable likelihood that materially different amounts could have been reported under different conditions, or if different assumptions had been used. Actual results may differ from the estimates and assumptions used in the preparation of our consolidated financial statements.

It is the opinion of the Company that inflation has not had a material effect on its operations.

New Financial Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standard if currently adopted would have a material effect on the consolidated financial statements included herewith.

10

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Credit Risk - Our accounts receivables would be subject, in the normal course of business, to collection risks. We plan to assess these risks and establish policies and business practices to protect against the adverse effects of collection risks.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable.

ITEM 4. CONTROLS AND PROCEDURES

a. Disclosure controls and procedures.

As of the end of period covered by this report, the Company carried out an evaluation, with the participation of the Company’s Chief Executive Officer and Principal Financial Officer, of the effectiveness of the Company’s disclosure controls and procedures pursuant to Securities Exchange Act Rule 13a-15. Based upon that evaluation, the Company’s Chief Executive Officer and Principal Financial Officer concluded that for reasons discussed in our annual report on Form 10-K, the Company’s disclosure controls and procedures are not effective in ensuring that information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms.

b. Changes in internal controls over financial reporting.

No changes were made to the Company’s internal controls in the quarterly period covered by this report that have materially affected, or are reasonably likely materially to affect, the Company’s internal control over financial reporting.

11

PART II—OTHER INFORMATION

ITEM 6. EXHIBITS.

31*	Certification of Chief Executive Officer and Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, filed herewith.
32**	Certification of Chief Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, filed herewith.

*	Filed herewith
**	Furnished herewith

Copies of the following documents are included as exhibits to this report pursuant to Item 601 of Regulation S-K.

SEC Ref. No.	Title of Document
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Label Linkbase Document
101.PRE	XBRL Taxonomy Presentation Linkbase Document

The XBRL related information in Exhibits 101 to this Quarterly Report on Form 10-Q shall not be deemed “filed” or a part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, and is not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of those sections.

12

SIGNATURES

In accordance with the requirements of the Exchange Act, the Company has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	NUTRIBAND INC.
Dated: June 18, 2018	BY:	/s/ Gareth Sheridan
		Gareth Sheridan
		Chief Executive Officer

13

EX-31

Exhibit 31

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES OXLEY ACT OF 2002

CERTIFICATION

I, Gareth Sheridan, certify that:

1.  I have reviewed this Quarterly Report on Form 10-Q of Nutriband Inc.;

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.  I am 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 consolidated 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 of 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 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. I have disclosed, based on my 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;

DATE:  June 18, 2018	/s/ Gareth Sheridan
	Gareth Sheridan, Chief Executive Officer
	and Principal Financial Officer

EX-32

Exhibit 32

CERTIFICATION 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 of Nutriband Inc. (the “Company”) on Form 10-Q for the quarter ended April 30, 2018 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gareth Sheridan, President and Chief Executive Officer of the Company, 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: (1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

/s/ Gareth Sheridan

Gareth Sheridan, Chief Executive Officer

and Principal Financial Officer

June 18, 2018

The foregoing certification is not filed with the Securities and Exchange Commission as part of the Form 10-Q or as a separate disclosure document and is not incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (whether made before or after the date of the Form 10-Q), irrespectively of any general incorporation language contained in such filing.

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Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2018	Jun. 18, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Nutriband Inc.
Entity Central Index Key	0001676047
Trading Symbol	NTRB
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Document Type	10-Q
Document Period End Date	Apr. 30, 2018
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		21,304,100

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Consolidated Balance Sheets - USD ($)	Apr. 30, 2018	Jan. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents
Inventories	4,133	4,133
Prepaid expenses	106,753	160,503
VAT receivable		263
Total Current Assets	110,886	164,899
TOTAL ASSETS	110,886	164,899
CURRENT LIABILITIES:
Accounts payable and accrued expenses	77,128	12,341
Due to related parties	40,905	14,230
Notes payable	41,797	16,820
Total Current Liabilities	159,830	43,391
Commitments and Contingencies
STOCKHOLDERS' EQUITY (DEFICIENCY):
Preferred stock, $.001 par value, 10,000,000 shares authorized, -0- outstanding
Common stock, $.001 par value, 100,000,000 shares authorized; 20,877,100 and 20,877,100 shares issued and outstanding at April 30, 2018 and January 31, 2018, respectively	20,877	20,877
Additional paid-in-capital	2,950,487	2,950,487
Common stock to be issued	277,500
Accumulated other comprehensive loss	(300)	(446)
Accumulated deficit	(3,297,508)	(2,849,410)
Total Stockholders' Equity (Deficiency)	(48,944)	121,508
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)	$ 110,886	$ 164,899

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Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2018	Jan. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	20,877,100	20,877,100
Common stock, shares outstanding	20,877,100	20,877,100

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Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Income Statement [Abstract]
Revenue
Costs and expenses:
Selling, general and administrative expenses	448,098	35,617
Loss from operations before provision for income taxes	(448,098)	(35,617)
Provision for income taxes
Net loss	$ (448,098)	$ (35,617)
Net loss per common share-basic and diluted	$ (0.02)	$ (0.00)
Weighted average common shares outstanding - basic and diluted	20,877,100	15,572,100
Other Comprehensive Income (Loss):
Net loss	$ (448,098)	$ (35,617)
Foreign currency translation adjustment	146	(96)
Total Comprehensive Loss	$ (447,952)	$ (35,713)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Apr. 30, 2018	Apr. 30, 2017
Cash flows from operating activities:
Net loss	$ (448,098)	$ (35,617)
Adjustments to reconcile net loss to net cash used in operating activities:
Expenses paid on behalf of Company by related party	24,300
Stock-based compensation	277,500
Changes in operating assets and liabilities:
Inventories		785
Prepaid expenses	54,011	750
Accounts payable and accrued expenses	64,846	6,001
Net Cash Used In Operating Activities	(27,441)	(28,081)
Cash flows from investing activities:
Net Cash Provided by Investing Activities
Cash flows from financing activities:
Proceeds from notes payable	25,000
Change in bank overdraft	(59)
Proceeds from related parties	2,500	2,300
Payment of related party payables		(750)
Net Cash Provided by Financing Activities	27,441	1,550
Effect of exchange rate on cash
Net increase (decrease) in cash		(26,531)
Cash and cash equivalents - Beginning of period		27,124
Cash and cash equivalents - End of period		593
Cash paid for:
Interest
Income taxes
Supplementary disclosure of non-cash investing and financing activities
Common stock to be issued for services	$ 277,500

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Description of Business and Summary of Significant Accounting Policies

3 Months Ended

Apr. 30, 2018

Description of Business and Summary of Significant Accounting Policies [Abstract]

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The consolidated balance sheet as of April 30, 2018 and the consolidated statements of operations and cash flows for the periods presented have been prepared by Nutriband, Inc. and Subsidiary (the “Company” or “Nutriband”) and are unaudited. The consolidated financial statements are prepared in accordance with the requirements for unaudited interim periods, and consequently, do not include all disclosures required to be made in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the financial position, results of operations, changes in stockholders’ equity and cash flows for all periods presented have been made. The information for the consolidated balance sheet as of January 31, 2018 was derived from audited financial statements of the Company.

Organization

Nutriband Inc. (the “Company” or “Nutriband”) was incorporated in the State of Nevada in January 2016. In January 2016, the Company acquired Nutriband Ltd. (“Nutriband Ltd”), a company registered in Dublin, Ireland, to enter the health and wellness market with new applications of transdermal patches. Nutriband Ltd. moved manufacturing and operations to the United States during 2016. Since then, Nutriband Inc. has developed a full line of consumer and health products which it plans to sell internationally. Through its acquisition and internal development strategy, the Company is developing a pipeline for transdermal prescription medications. For the Company’s planned operations in the U.S., it will be subject to the rules of the Food and Drug Administration (“FDA”); the Company plans to seek FDA clearance, where required, for its transdermal patches and other products marketed in the U.S.

Going Concern

The consolidated financial statements for the three months ended April 30, 2018, have been prepared on a going concern basis which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Company has a past history of recurring losses from operations. The Company will require additional funding to execute its future strategic business plan. Successful business operations and its transition to attaining profitability are dependent upon obtaining additional financing and achieving a level of revenue to support its cost structure. These factors raise substantial doubt about the Company’s ability to continue as a going concern.

Management acquired Nutriband Ltd. in 2016 to enter the health supplement market. The Company is also exploring some acquisition opportunities which would expand the Company’s operations into the pharmaceutical field.

Management believes these proposed acquisitions will be profitable and the cash flows from these operations will enable the Company to fund the operations of the consolidated group for a period of one year from the issuance of these financial statements. Therefore, the annual financial statements continue to be prepared on a going concern basis.

Significant Accounting Policies

The Company’s significant accounting policies are found below. These policies should be read in conjunction with Note 1 found in the Company’s Annual Report on Form 10-K for the year ended January 31, 2018.

Principles of Consolidation

The consolidated financial statements of the Company include the Company and its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated.

Use of Estimates

The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates including, but not limited to, those related to such items as income tax exposures, accruals, depreciable/useful lives, allowance for doubtful accounts and valuation allowances. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

Evaluation of Long-lived Assets

Patents represent an important component of the Company’s total assets. The Company amortizes its patents on a straight-line basis over the estimated useful lives of the assets. Management reviews long-lived assets for potential impairment whenever significant events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment exists when the carrying amount of the long-lived asset is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. If an impairment exists, the resulting write-down would be the difference between fair market value of the long-lived asset and the related net book value. As of January 31, 2018, the Company recorded an impairment charge of $2,500,000 and reduced the book value of the patent to be $-0-.

Recently Adopted Accounting Standards

In May, 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09””), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to a customer. Subsequently, the FASB issued several other updates related to revenue recognition (collectively with ASU 201-09, the “new revenue standards”). The Company adopted the guidance under the new revenue standards using the modified retrospective transaction method effective February 1, 2018. The Company does not expect the adoption of the new revenue standards to have a material impact on its consolidated financial statements.

Accounting Standards Issued But Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, “Leases” (Topic 842), to provide a new comprehensive model for lease accounting under this guidance, lessees and lessors should apply a “right-of-use” model in accounting for all leases (including subleases) and eliminate the concept of operating leases and off-balance-sheet leases. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. Similar modifications have been made to lessor accounting in-line with revenue recognition guidance. This guidance is effective for the annual periods and interim periods beginning December 15, 2018. The amendments also require certain quantitave and qualitative disclosures about leasing arrangements. Early adoption is permitted. The update guidance requires a modified retrospective adoption. We are currently in the process of evaluating this new standard update.

The Company has implemented all new pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements or results of operations.

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Inventories

3 Months Ended

Apr. 30, 2018

Inventories [Abstract]

INVENTORIES

2. INVENTORIES

Inventory as of April 30, 2018 and January 31, 2018 are as follows:

	April 30,		January 31,
	2018		2018
Finished goods	$	4,133	$	4,133
Work in progress		-		-
Raw materials		-		-
	$	4,133	$	4,133

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Debt

3 Months Ended

Apr. 30, 2018

Debt [Abstract]

DEBT

3. DEBT

Short-term debt-related parties as of April 30, 2018 and January 31, 2018, consists of loans from officers and related parties, that are interest free and due on demand. As of April 30, 2018 and January 31, 2018, short-term debt amounted to $40,905 and $14,230, respectively. The loans were paid in full May 2018.

Short-term debt as of April 30, 2018 and January 31, 2018, consists of a loan from South County Dublin Council that is interest free with monthly payments of $75. The loan is due October 2017. As of January 31, 2018, and 2017, the total balance of long-term debt (current portion) amounted to $1,797 and $1,820, respectively. The loans were paid in full May 2018.

On September 12, 2017, the Company received an interest-free loan from TII Jet Services LDA in the amount of $15,000. The Company received an additional advance of $25,000 during April 2018. The loan is interest free and due upon demand. As of April 30, 2018 and January 31, 2018, the balance due was $40,000 and $15,000, respectively, and amount is included in short-term debt.

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Related Party Transactions

3 Months Ended

Apr. 30, 2018

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

4. RELATED PARTY TRANSACTIONS

a) As of April 30, 2018 and January 31, 2018, Ann Sheridan, mother of the Chief Executive Officer and a Director of Nutriband Limited (Ireland), advanced the Company $10,105 and $10,230, respectively, for operating capital. The advance is interest free and due on demand. The advance was repaid in full May 2018.

b) During the year ended January 31, 2018, the Chief Financial Officer advanced $8,250 to the Company, all of which was repaid as of January 31, 2018. Additionally, the Company had amounts owed to the CFO for payments made on behalf of the Company of $30,800 and $4,000 as of April 30, 2018 and January 31, 2018, respectively. The amounts were repaid in full May 2018.

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Common Stock

3 Months Ended

Apr. 30, 2018

Common Stock [Abstract]

COMMON STOCK

5. COMMON STOCK

The Company recorded the fair value of 110,000 shares valued at $277,500 during the three months ended April 30, 2018 and reflected the issuance of these shares as common stock to be issued as of April 30, 2018.

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Warrants

3 Months Ended

Apr. 30, 2018

Warrants [Abstract]

WARRANTS

6. WARRANTS

The following table summarizes the changes in warrants outstanding and the related price of the shares of the Company’s common stock issued to non-employees of the Company.

			Exercise		Remaining		Intrinsic
	Shares		Price		Life		Value
Outstanding, February 1, 2018		730,000	$	1.58		1.35 years		-
Granted		-		-		-		-
Expired/Cancelled		-		-		-		-
Exercised		-		-		-		-
Outstanding-period ending April 30, 2018		730,000	$	1.58		1.10 years	$	-
Exercisable - period ending April 30, 2018		650,000	$	1.35		0.97 years	$	-

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Earnings Per Share

3 Months Ended

Apr. 30, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

7. EARNINGS PER SHARE

Basic earnings per common share are computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted earnings per common share are computed by dividing net earnings by the weighted average number of common shares and potential common shares outstanding during the period. Potential common shares consist of outstanding common stock purchase warrants. As of April 30, 2018 there were 730,000 common stock equivalents outstanding, that were not included in the calculation of dilutive earnings per share as their effect would be anti-dilutive.

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Subsequent Events

3 Months Ended

Apr. 30, 2018

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

8. SUBSEQUENT EVENTS

On April 5, 2018, the Company entered into an acquisition agreement to acquire a 100% interest in 4P Therapeutics Inc. in exchange for $400,000 and 250,000 shares of common stock of the Company. The shares will be issued and payment made upon the completion of the certified audit of 4P Therapeutics Inc. 4P Therapeutics Inc. will become the pharmaceutical and development arm of Nutriband with specific focus on Transdermal and Topical Technologies, prescription drugs and clinical development.

On May 2, 2018, the Company received proceeds of $1 million from Barandnic Holdings Ltd. in connection with the sale of 250,000 shares of the Company’s common stock. In connection with the sale, the purchaser received a five-year warrant to purchase 250,000 shares at an exercise price of $4.00 per share. On May 27, 2018, Barandic Holdings Ltd. exercised 125,000 common stock warrants and the Company received proceeds of $500,000.

On May 16, 2018, the Company issued 160,000 shares of common stock for services. The fair value of the common stock issued was $602,500, of which $277,500 was expensed during the three months ended April 30, 2018.

On June 13, 2018, the Company signed a letter of intent to acquire 100% of Carmel Biosciences, a pharmaceutical company that addresses critical needs in new drug and liquid reformulation for cardiovascular and metabolic therapies. The Company plans to complete the acquisition, valued at approximately $3.8 million, through payment of the issuance of 450,000 shares of the Company’s common stock. In December 2007, Carmel Biosciences received FDA approval for PREXXARTAN, the first and only approved oral liquid dosage form of the angiotensin receptor block (ARB) valsartan in the Unite States.

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Description of Business and Summary of Significant Accounting Policies (Policies)

3 Months Ended

Apr. 30, 2018

Description of Business and Summary of Significant Accounting Policies [Abstract]

Principles of Consolidation

Principles of Consolidation

The consolidated financial statements of the Company include the Company and its wholly-owned subsidiary. All material intercompany balances and transactions have been eliminated.

Use of Estimates

Use of Estimates

The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates including, but not limited to, those related to such items as income tax exposures, accruals, depreciable/useful lives, allowance for doubtful accounts and valuation allowances. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.

Evaluation of Long-lived Assets

Evaluation of Long-lived Assets

Patents represent an important component of the Company’s total assets. The Company amortizes its patents on a straight-line basis over the estimated useful lives of the assets. Management reviews long-lived assets for potential impairment whenever significant events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment exists when the carrying amount of the long-lived asset is not recoverable and exceeds its fair value. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. If an impairment exists, the resulting write-down would be the difference between fair market value of the long-lived asset and the related net book value. As of January 31, 2018, the Company recorded an impairment charge of $2,500,000 and reduced the book value of the patent to be $-0-.

Recently Adopted Accounting Standards

Recently Adopted Accounting Standards

In May, 2014 the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09””), which amends the existing accounting standards for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount an entity expects to be entitled when products are transferred to a customer. Subsequently, the FASB issued several other updates related to revenue recognition (collectively with ASU 201-09, the “new revenue standards”). The Company adopted the guidance under the new revenue standards using the modified retrospective transaction method effective February 1, 2018. The Company does not expect the adoption of the new revenue standards to have a material impact on its consolidated financial statements.

Accounting Standards Issued But Not Yet Adopted

Accounting Standards Issued But Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, “Leases” (Topic 842), to provide a new comprehensive model for lease accounting under this guidance, lessees and lessors should apply a “right-of-use” model in accounting for all leases (including subleases) and eliminate the concept of operating leases and off-balance-sheet leases. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. Similar modifications have been made to lessor accounting in-line with revenue recognition guidance. This guidance is effective for the annual periods and interim periods beginning December 15, 2018. The amendments also require certain quantitave and qualitative disclosures about leasing arrangements. Early adoption is permitted. The update guidance requires a modified retrospective adoption. We are currently in the process of evaluating this new standard update.

The Company has implemented all new pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its consolidated financial statements or results of operations.

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Inventories (Tables)

3 Months Ended

Apr. 30, 2018

Inventories [Abstract]

Schedule of inventories

	April 30,		January 31,
	2018		2018
Finished goods	$	4,133	$	4,133
Work in progress		-		-
Raw materials		-		-
	$	4,133	$	4,133

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Warrants (Tables)

3 Months Ended

Apr. 30, 2018

Warrants [Abstract]

Schedule of warrants

			Exercise		Remaining		Intrinsic
	Shares		Price		Life		Value
Outstanding, February 1, 2018		730,000	$	1.58		1.35 years		-
Granted		-		-		-		-
Expired/Cancelled		-		-		-		-
Exercised		-		-		-		-
Outstanding-period ending April 30, 2018		730,000	$	1.58		1.10 years	$	-
Exercisable - period ending April 30, 2018		650,000	$	1.35		0.97 years	$	-

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Description of Business and Summary of Significant Accounting Policies (Details)	12 Months Ended
	Jan. 31, 2018 USD ($)
Description of Business and Summary of Significant Accounting Policies (Textual)
Impairment charge	$ 2,500,000
Reduced the book value patents	$ 0

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Inventories (Details) - USD ($)	Apr. 30, 2018	Jan. 31, 2018
Inventories [Abstract]
Finished goods	$ 4,133	$ 4,133
Work in progress
Raw materials
Inventories, Net	$ 4,133	$ 4,133

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Debt (Details) - USD ($)	3 Months Ended	12 Months Ended
	Apr. 30, 2018	Jan. 31, 2018	Sep. 12, 2017	Jan. 31, 2017
Debt (Textual)
Short-term debt	$ 40,905	$ 14,230
Short-term debt monthly payments	75	75
Total balance of long-term debt		1,797		$ 1,820
Interest-free loan from TII Jet Services LDA			$ 15,000
Additional advance received	25,000
Balance due	$ 40,000	$ 15,000

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Related Party Transactions (Details) - USD ($)	3 Months Ended	12 Months Ended
	Apr. 30, 2018	Jan. 31, 2018
Chief Financial Officer [Member]
Related Party Transactions (Textual)
Additional expenses paid	$ 30,800	$ 4,000
Amount advances to company		8,250
Ann Sheridan [Member]
Related Party Transactions (Textual)
Advance from related party	$ 10,105	$ 10,230

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Common Stock (Details)	3 Months Ended
	Apr. 30, 2018 USD ($) shares
Common Stock (Textual)
Fair value of common stock, share | shares	110,000
Fair value of common stock | $	$ 277,500

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Warrants (Details)	3 Months Ended
	Apr. 30, 2018 USD ($) $ / shares shares
Shares
Outstanding, Ending Balance	730,000
Warrants [Member]
Shares
Outstanding, Beginning Balance	730,000
Granted
Expired/Cancelled
Exercised
Outstanding, Ending Balance	730,000
Exercisable	650,000
Exercise Price
Outstanding, Beginning Balance | $ / shares	$ 1.58
Granted | $ / shares
Expired/Cancelled | $ / shares
Exercised | $ / shares
Outstanding, Ending Balance | $ / shares	1.58
Exercisable | $ / shares	$ 1.35
Remaining Life
Outstanding, Beginning period	1 year 4 months 6 days
Outstanding, Ending period	1 year 1 month 6 days
Exercisable	11 months 19 days
Intrinsic Value
Outstanding, Beginning Balance | $
Outstanding, Ending Balance | $
Exercisable | $

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Earnings Per Share (Details)	Apr. 30, 2018 shares
Earnings Per Share (Textual)
Common stock equivalents outstanding	730,000

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Subsequent Events (Details) - USD ($)	Jun. 13, 2018	May 27, 2018	May 16, 2018	May 02, 2018	Apr. 05, 2018
Subsequent Events (Textual)
Acquisition percentage					100.00%
Issuance shares of common stock, value					$ 400,000
Issuance shares of common stock, shares					250,000
Subsequent Events [Member]
Subsequent Events (Textual)
Issuance shares of common stock, shares				250,000
Proceeds from common stock received				$ 1,000,000
Warrants to purchase of common stock				250,000
Warrants maturity date				5 years
Exercise price of warrants				$ 4.00
Common stock issued for services			160,000
Share compensation services, value			$ 602,500
Expenses of share compensation services			$ 277,500
Subsequent Events [Member] | Barandnic Holdings Ltd. [Member]
Subsequent Events (Textual)
Proceeds from common stock received		$ 500,000
Warrants exercised		125,000
Subsequent Events [Member] | Carmel Biosciences [Member]
Subsequent Events (Textual)
Acquisition percentage	100.00%
Business acquisition, description	The Company plans to complete the acquisition, valued at approximately $3.8 million, through payment of the issuance of 450,000 shares of the Company's common stock.