10-Q

UNITED STATES

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: March 31, 2018
[   ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from __________ to __________

000-55800
(Commission File Number)
QRONS INC.
(Exact name of registrant as specified in its charter)
Wyoming	81-3623646
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
777 Brickell Avenue, Suite 500, Miami, Florida	33131
(Address of principal executive offices)	(Zip Code)
(786)-620-2140
(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 [X]  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 [X] 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 [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 7(a)(2)(B) of the Securities 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 May 8, 2018, there were 12,804,125 shares of the registrant's common stock outstanding.

QRONS INC.

TABLE OF CONTENTS

		Page
	PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements	2
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	18
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	21
Item 4.	Controls and Procedures	21
	PART II – OTHER INFORMATION
Item 1.	Legal Proceedings	22
Item 1A.	Risk Factors	22
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	22
Item 3.	Defaults Upon Senior Securities	22
Item 4.	Mine Safety Disclosures	22
Item 5.	Other Information	22
Item 6.	Exhibits	22
	SIGNATURES	23

1

PART I -- FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

QRONS INC.

CONDENSED BALANCE SHEETS

(Unaudited)

	March 31, 2018			December 31, 2017
ASSETS
Current assets
Cash and cash equivalents	$	474,308		$	57,767
Prepaid expenses		31,893			15,812
Total current assets		506,201			73,579
TOTAL ASSETS	$	506,201		$	73,579
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable and accrued liabilities	$	25,986		$	14,141
Accounts payable and accrued liabilities – related party		1,906			1,410
Convertible note – related party, net of debt discount		13,027			6,665
Derivative liabilities		29,074			31,090
Total current liabilities		69,993			53,306
Total liabilities		69,993			53,306
Stockholders' equity
Series A Preferred Shares: $0.001 par value, authorized 10,000; 2,000 shares issued and outstanding		2			2
Common stock, $0.0001 par value: shares authorized 100,000,000; 12,729,125 and 12,404,910 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively		1,273			1,240
Additional Paid-in Capital		2,521,083			1,611,711
Accumulated deficit		(2,086,150	)		(1,592,680	)
Total stockholder's equity		436,208			20,273
TOTAL LIABILITIES & EQUITY	$	506,201		$	73,579

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

2

QRONS INC.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

	For the Three Months ended March 31,
	2018			2017
Net sales	$	-		$	-
Operating expenses:
Research and development expenses		40,897			776
Professional fees		21,180			-
General and administrative expenses		426,551			305
Total operating expenses		488,628			1,081
Income (loss) from operations		(488,628	)		(1,081	)
Other Income (expense)
Interest expense		(6,858	)		(2,700	)
Change in derivative liabilities		2,016			-
Other (expense)		(4,842	)		(2,700	)
Net (loss)	$	(493,470	)	$	(3,781	)
Net (loss) per common shares (basic and diluted)	$	(0.04	)	$	(0.00	)
Weighted average shares outstanding
Basic and diluted		12,639,078			11,528,622

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

3

QRONS INC.

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Three Months ended March 31,
	2018			2017
Cash Flows From Operating Activities
Net loss	$	(493,470	)	$	(3,781	)
Adjustments to reconcile net income to net cash provided from (used by) operating activities:
Stock awards recorded as advisory services		28,000			-
Stock options granted and recorded as administrative expenses and advisory services		381,405			-
Accretion of debt discount		6,362			2,500
Change in derivative liabilities		(2,016	)		-
Changes in operating assets and liabilities:
Prepaid expenses		(16,081	)		-
Accounts payable and accrued liabilities		11,845			1,072
Accounts payable and accrued liabilities, related party		496			-
Net cash provided (used by) operating activities		(83,459	)		(209	)
Cash Flows From Investing Activities
Net cash provided from (used by) investing activities		-			-
Cash Flows From Financing Activities
Proceeds from private placement		500,000			32,000
Financing costs		-			(19,590	)
Proceeds from convertible note		-			-
Net cash provided from financing activities		500,000			12,410
Increase (decrease) in cash and cash equivalents		416,541			12,201
Cash at beginning of period		57,767			155,242
Cash at end of period		474,308			167,443
SUPPLEMENTAL DISCLOSURES
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

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

4

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 1 – Description of Business and Basis of Presentation

Organization and nature of business:

Qrons Inc.  ("Qrons" and/or the "Company") was incorporated under the laws of the State of Wyoming on August 22, 2016 under the name BioLabMart Inc. Our headquarters are located at 777 Brickell Avenue, Suite 500, Miami, FL 33131.

The Company is a preclinical stage biotechnology company developing advanced cell-based solutions to combat neuronal injuries with a laser focus on traumatic brain injuries. The technology could potentially treat a wide range of neurodegenerative diseases. The Company's treatment integrates proprietary, engineered mesenchymal stem cells, 3D printable scaffolding, smart materials and a novel delivery system.

On July 6, 2017, the board of directors and a majority of the Company's shareholders approved an amendment to the Company's Articles of Incorporation to change the name of the Company from "BioLabMart Inc." to "Qrons Inc.". On August 8, 2017, the Company filed Amended Articles of Incorporation with the State of Wyoming to effectuate such name change.The Company's common stock was approved by the Financial Industry Regulatory Authority ("FINRA") for quotation on the OTC pink sheets under the symbol "BLMB" as of July 3, 2017. FINRA announced the Company's name change to Qrons Inc. on its Daily List on August 9, 2017. The new name and symbol change to "QRON" for the OTC market was effective August 10, 2017.

Ariel Agreements

On December 14, 2016, the Company entered into a license and research funding agreement ("License Agreement") with Ariel Scientific Innovations Ltd., formerly known as Ariel University R&D Co., Ltd., ("Ariel"), a wholly owned subsidiary of Ariel University, based in Ariel, Israel. Under the terms of the License Agreement, Professor Danny Baranes, the principal investigator and his research team will carry out further research relating to cell treatment with conditioned medium for neuronal tissue regeneration and repair. In consideration for payments under the License Agreement, the Company received an exclusive worldwide royalty- bearing license in Ariel patents and know-how to develop and commercialize products based on or incorporating conditioned medium for neuronal tissue regeneration and/or repair, resulting from Ariel's research or technology or the Company's research funding (the "Products). Under the License Agreement, the Company is required to use its best efforts to develop and commercialize the Products in accordance with development milestones set forth in the Agreement.

In lieu of extending the research financing and research period under the License Agreement beyond the initial 12 months, on December 14, 2017, the Company entered into a 12-month services agreement with Ariel (the "Services Agreement") pursuant to which a team at Ariel under the direction of Prof. Danny Baranes will conduct molecular biology research activities involving the testing of scaffold materials for the Company. On April 12, 2018, the Services Agreement was amended to provide for additional services as the Company may request.

On March 6, 2018, the Company entered into an additional services agreement with Ariel for the services of Professor Gadi Turgeman and his neurobiology research team in their labs.

Dartmouth Agreements

On October 17, 2017, the Company entered into an option agreement with the Trustees of Dartmouth College which provides for, among other things, the grant to the Company of a one-year exclusive option to negotiate a worldwide, royalty bearing, exclusive license with Dartmouth for 3D printable materials in the field of human and animal health. During the option period, the Company agreed to use all commercially reasonable resources to evaluate the intellectual property and provide quarterly milestone reports and a commercialization plan upon exercise of the option. Pursuant to the agreement, the Company agreed to finance the prosecution of patents by Dartmouth to protect its intellectual property.  Further, the agreement provides for the payment by the Company of an option fee and certain license fees and royalty payments based upon the Company's product sales, as part of a final negotiated license agreement. The Company exercised its option on March 26, 2018 to negotiate definitive license terms, as it continues further evaluation and research.

5

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

 Note 2 – Summary of Significant Accounting Policies

Financial Statement Presentation: The unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Fiscal year end: The Company has selected December 31 as its fiscal year end.

Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported therein. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from these estimates.

Cash Equivalents: The Company considers all highly liquid investments with maturities of 90 days or less from the date of purchase to be cash equivalents.

Research and Development Costs: The Company charges research and development costs to expense when incurred in accordance with FASB ASC 730, "Research and Development". Research and development costs were $40,897 and $776 for the three months period ended March 31, 2018 and March 31, 2017, respectively.

Advertising and Marketing Costs: Advertising and marketing costs are expensed as incurred. The Company incurred $5,000  in advertising and marketing costs during the three months ended March 31, 2018 and incurred no advertising and marketing costs during the three months ended March 31, 2017.

Related parties: For the purposes of these financial statements, parties are considered to be related if one party has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities.

Stock-Based Compensation and Other Share-Based Payments: The expense attributable to the Company's Directors is recognized over the period the amounts are earned and vested, and the expense attributable to the Company's non-employees is recognized when vested, as described in Note 7, Stock Plan.

Fair Value of Financial Instruments

FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. FASB ASC 820 describes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level of input that is significant to the fair value measurement of the instrument.

6

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 2 – Summary of Significant Accounting Policies (continued)

Fair Value of Financial Instruments (continued)

The following table provides a summary of the fair value of our derivative liabilities as of March 31, 2018 and December 31, 2017:

	Fair value measurements on a recurring basis
	Level 1		Level 2		Level 3
As of March 31, 2018:
Liabilities
Derivative liabilities	$	-	$	-	$	29,074
As of December 31, 2017:
Liabilities
Derivative liabilities	$	-	$	-	$	31,090

Warrants: The Company accounts for common stock warrants in accordance with applicable accounting guidance provided in ASC Topic 815 "Derivatives and Hedging – Contracts in Entity's Own Equity" (ASC Topic 815), as either derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement.  For warrants classified as equity instruments we apply the Black Scholes model.   Presently all warrants issued and outstanding are accounted for using the equity method.

Income taxes: The Company has adopted ASC Topic 740 – "Income Taxes" ASC Topic 740 requires the use of the asset and liability method of accounting for income taxes. Under the asset and liability method of ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

Basic and Diluted Loss Per Share: In accordance with ASC Topic 280 – "Earnings Per Share", the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common stock outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock had been issued and if the additional shares of common stock were dilutive.

Potential common stock consists of the incremental common stock issuable upon the exercise of common stock warrants (using the if-converted method), convertible notes, classes of shares with conversion features, and stock awards and stock options. The computation of basic loss per share for the three-month periods ended March 31, 2018 and 2017 excludes potentially dilutive securities of underlying share purchase warrants, convertible notes, stock options and preferred shares, because their inclusion would be antidilutive. As a result, the computations of net loss per share for each period presented is the same for both basic and fully diluted.

7

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 2 – Summary of Significant Accounting Policies (continued)

Basic and Diluted Loss Per Share: (continued)

In The table below reflects the potentially dilutive securities at each reporting period which have been excluded from the computation of diluted net loss per share:

	March 31, 2018		March 31, 2017
Stock purchase warrants		52,000		562,000
Research Warrants at 3% of issued and outstanding shares		381,874		-
Convertible Notes		26,906		-
Series A Preferred shares		700		-
Stock options, vested		13,334		-
Stock options, not yet vested		656,666		-
Stock awards, not yet vested		290,000		-
		1,421,480		562,000

New Accounting Pronouncements: There were various accounting standards and interpretations issued recently, none of which are expected to have a material effect on the Company's operations, financial position or cash flows.

Note 3 – Going Concern

The Company has experienced net losses to date, and it has not generated revenue from operations.  While the Company has recently raised proceeds it does not believe its resources will be sufficient to meet its operating and capital needs beyond the fourth quarter of 2018. The Company expects it will require additional capital to fully implement the scope of its proposed business operations, which raises substantial doubt about its ability to continue as a going concern.  The Company will have to continue to rely on equity and debt financing. There can be no assurance that financing, whether debt or equity, will always be available to the Company in the amount required at any particular time or for any particular period or, if available, that it can be obtained on favorable terms.

The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amount and classification of liabilities that might cause results from this uncertainty.

Note 4 – Convertible Note – Related Party and Derivative Liabilities

On September 1, 2016, the Company entered into a convertible debenture agreement with CubeSquare, LLC ("CubeSquare"), of which our Chief Executive Officer is the managing partner and our President is a 25% owner. The Company received proceeds of $10,000 during fiscal 2016 ("Note 1"). The note bears interest at 8% per annum and was due on September 1, 2017. Interest accrues from September 1, 2016 and is payable on maturity. Interest is payable, at the lender's option, in cash or common stock. Any portion of the loan and unpaid interest are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of the greater of (i) $0.0625 per share if the Company's shares are not trading on a public market and; (ii) in the event the Company's shares are listed for trading on a public market, the conversion price shall be equal to a 50% discount to  the average of the five  lowest trading prices during the previous twenty  trading days prior to the date of the notice of conversion from the lender.

On September 28, 2017 the Company and CubeSquare amended Note 1 to extend the maturity date of the note from September 1, 2017 to September 1, 2018 under the same terms and conditions.

8

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 4 – Convertible Note – Related Party and Derivative Liabilities (continued)

On September 27, 2017, the Company entered into a second convertible debenture agreement with CubeSquare under which the Company received proceeds of $15,000 (Note 2). Note 2 bears interest at 8% per annum and is due on September 27, 2018. Interest shall accrue from September 27, 2017 and shall be payable on maturity.   Any portion of the principal and unpaid interest under the note is convertible at any time at the option of CubeSquare into shares of common stock of the Company at a conversion price equal to a 50% discount to the average of the five lowest trading prices during the previous twenty trading days prior to the date of the notice of conversion from CubeSquare.

The Company analyzed the amendment to Note 1 and Note 2 under ASC 815-10-15-83 and concluded that these two convertible debentures meet the definition of a derivative. We estimated the fair value of the derivative on the inception dates, and subsequently, using the Black-Scholes valuation technique, adjusted for the effect of dilution, because that technique embodies all of the assumptions (including, volatility, expected terms, and risk-free rates) that are necessary to fair value complex derivate instruments.

The carrying value of these convertible notes is as follows:

	March 31, 2018			December 31, 2017
Face value of certain convertible notes	$	25,000		$	25,000
Less: unamortized discount		(11,973	)		(18,335	)
Carrying value	$	13,027		$	6,665

Amortization of the discount over the three months ended March 31, 2018 and 2017 totaled $6,362 and $2,500, respectively, which amounts have been recorded as interest expense.  

As a result of the application of ASC No. 815 in the periods ended March 31, 2018 and December 31, 2017 the fair value of the conversion feature is summarized as follows:

Balance at December 31, 2017	$	31,090
Derivative addition associated with convertible notes		-
Loss on change in fair value		(2,016	)
Balance at March 31, 2018	$	29,074

The fair value at the commitment and re-measurement dates for the Company's derivative liabilities were based upon the following management assumptions as of March 31, 2018 and commitment date:

	Commitment Date		March 31, 2018		December 31, 2017
Expected dividends		0		0		0
Expected volatility	101% ~103%		95% ~ 102%		110% ~ 115%
Expected term	0.92 ~ 1 year		0.42 ~0.49 year		0.67 ~0.74 year
Risk free interest rate		1.33%		1.93%	1.53% ~ 1.65%

9

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 5 – License and Research Funding Agreements

On December 14, 2016, the Company entered the License Agreement with Ariel. Under the terms of the License Agreement, Professor Danny Baranes, the principal investigator and his research team will carry out further research relating to cell treatment with conditioned medium for neuronal tissue regeneration and repair. The Company shall fund the research completed during the research period in the total amount of $100,000. In consideration for payments under the License Agreement, the Company received an exclusive worldwide royalty- bearing license in Ariel patents and know-how to develop and commercialize products based on or incorporating conditioned medium for neuronal tissue regeneration and/or repair, resulting from Ariel's research or technology or the Company's research funding (the "Products). Under the License Agreement, the Company is required to use its best efforts to develop and commercialize the Products in accordance with development milestones set forth in the Agreement.

In addition, upon the occurrence of an Exit Event (as defined in the License Agreement) of the Company or of any affiliate commercializing the products, the Company is obligated to issue to Ariel an immediately exercisable warrant for that number of shares equal to 4% of the issued and outstanding shares of the Company at the time of issuance.

The Company and Ariel entered into Addendum #1, effective December 13, 2017 (the "Addendum") to the License Agreement pursuant to which Ariel was permitted to exercise a portion of the warrant granted pursuant to the License Agreement. On December 13, 2017, the Company issued 119,950 shares of common stock to Ariel, representing 1% of the issued and outstanding shares of the Company on such date, and valued at $335,860. The right to the balance of the shares subject to the warrant remains subject to the terms of the License Agreement and the occurrence of an Exit Event (as described in the License Agreement). In addition, the Addendum provides that Ariel may not request a demand registration until the balance of the shares subject to the warrant is exercised.

In addition to the other payments, the Company will pay Ariel upon the occurrence of the following milestone events, additional payments which shall be due within 6 months of completion of the milestone:

-  Upon successful clinical FDA Phase II completion - $130,000; and  

-  Upon successful clinical FDA Phase III completion - $390,000

Upon successful development and commercialization and in recognition of the rights and licenses granted to the Company pursuant to the License Agreement, the Company will be subject to certain royalty payments as specified in the License Agreement.

During the year ended December 31, 2017, the Company incurred total research and development costs of $1,179,777, which amount includes the aforementioned value of 119,950 shares of common stock at $335,860 pursuant to the License Agreement, as well as $812,000 recorded as stock-based compensation in respect to certain stock awards discussed in Note 6 below granted to various members of the Company's scientific advisory board.

10

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 5 – License and Research Funding Agreements (continued)

In lieu of extending the research financing and research period under the License Agreement with Ariel beyond the initial 12 months, on December 14, 2017, the Company entered into a 12-month services agreement with Ariel (the "Services Agreement") pursuant to which a team at Ariel University under the direction of Professor Danny Baranes will conduct molecular biology research activities involving the testing of scaffold materials for the Company. As compensation for such services, the Company paid Ariel (i) $17,250 on December 19, 2017 and an additional $17,250 on April 26, 2018.  On April 12, 2018, the Services Agreement was amended to provide for the payment by the Company of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request.

On March 6, 2018, the Company entered into an additional service agreement with Ariel for the services of Professor Gadi Turgeman and his neurobiology research team in their labs area of neurologics pursuant to which the Company paid Ariel $20,580 on March 19, 2018 and will be required to pay $20,580 by August 21, 2018.

Note 6 – Commitments

(1)   Service Agreement with Ariel - Prof. Danny Baranes

On December 14, 2017, the Company entered into a 12-month services agreement pursuant to which a team at Ariel  under the direction of Prof. Danny Baranes will conduct molecular biology research activities involving the testing of scaffold materials for the Company. As compensation for the services provided, the Company will pay Ariel (i) $17,250 within five business days of the execution of the Services Agreement, and (ii) $17,250 by May 1, 2018.

The Services Agreement may be terminated by the non-breaching party upon a material breach that is not cured within 30 days  or by the Company upon thirty days' prior written notice to Ariel. Ariel must keep confidential information of the Company confidential for five years after the term of the Services Agreement.

During the year ended December 31, 2017, $17,250 was paid of which $1,438 was expensed in fiscal year 2017 and $8,625 was expensed for three months period ended March 31, 2018, and the remaining $7,187 will be expensed in a subsequent period.

On April 12, 2018, the Services Agreement was amended to provide for the payment by the Company of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request. Further on April 26, 2018, the remaining installment of $17,250 was paid.

(2)   Service Agreement with Ariel - Dr. Gadi Turgeman

On March 6, 2018, the Company entered into a service agreement for the services of Professor Gadi Turgeman and his neurobiology research team in their labs. As compensation for the services provided, the Company will pay Ariel (i) $20,580 within five business days of the execution of the Services Agreement, and (ii) $20,580 by August 21, 2018.

The Services Agreement may be terminated by the non-breaching party upon a material breach that is not cured within 30 days or by the Company upon thirty days' prior written notice to Ariel. Ariel must keep confidential information of the Company confidential for six years after the term of the Services Agreement.

During the three months ended March 31, 2018, $20,580 was paid and recorded as prepaid expenses, of which $3,430 was expensed in three month period and the remaining $17,150 will be expensed in a subsequent period.

11

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 6 – Commitments (continued)

(3)   Science Advisory Board Member Consulting Agreements (the "Agreements")

As part of its ongoing program of research and development, the Company has retained distinguished scientists and other qualified individuals to advise the Company with respect to its technology and business strategy and to assist it in the research, development and analysis of the Company's technology and products. In furtherance thereof, the Company has retained certain Advisors as members of its Scientific Advisory Board as described below, and the Company and Advisors have entered into agreements with the following terms and conditions:

- Scientific Advisory Board and Consulting Services - Advisor shall provide general consulting services to Company (the "Services") as a member of its Scientific Advisory Board ("SAB"). As a member of the SAB, Advisor agrees to provide the Services as follows: (a) attending meetings of the Company's SAB; (b) performing the duties of a SAB member at such meetings, as established from time to time by the mutual agreement of the Company and the SAB members, including without limitation meeting with Company employees, consultants and other SAB members, reviewing goals of the Company and assisting in developing strategies for achieving such goals, and providing advice, support, theories, techniques and improvements in the Company's scientific research and product development activities; and (c) providing consulting services to Company at its request, including a reasonable amount of informal consultation over the telephone or otherwise as requested by Company. Advisor's consultation with Company will involve services as scientific, technical and business advisor to the Company and its senior team as needed with respect to the field of neuronal injuries and neuro degenerative diseases ("the "Field") and requires the application of unique, special and extraordinary skills and knowledge that Advisor possesses in the Field.  

- SAB Consulting Compensation -  the Company shall grant to Advisor the option to purchase certain number of shares of the common stock of the Company as per the stock option award grant. The options are subject to terms and provisions of the Company's 2016 Stock Option and Stock Award Plan.

On November 15, 2017, the Company entered into Agreements with three Advisors under the terms of which two Advisors are granted the option under the 2016 Stock Option and Award Plan to purchase 20,000 shares of common stock under certain vesting terms and one Advisor under the 2016 Stock Option and Award Plan is granted an option to purchase 30,000 shares of common stock under certain vesting terms.

The Company recorded stock-based compensation in the amount of $29,000 in respect to these options grants during fiscal 2017 which amount has been allocated as advisory services as part of general and administrative expenses. ( Note 8 – Stock Plan)

(4)   Advisory Board Agreement

On January 23, 2018, the Company entered into a one-year advisory board member consulting agreement with Pavel Hilman, the controlling shareholder of Conventus Holdings SA, a BVI corporation ("Conventus"), under which Mr. Hilman will serve on the Company's Advisory Board as a business advisor. The Advisory Board Agreement will automatically renew for up to two additional one-year periods, unless earlier terminated by either party upon 30 days' prior written notice to the other party. In consideration for serving on the Advisory Board, the Company awarded 10,000 shares of its common stock to Mr. Hilman under its 2016 Stock Option and Stock Award Plan.

12

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 7 – Stock Plan

2016 Stock Option and Stock Award 

On December 14, 2016, the Board adopted the Company's 2016 Stock Option and Stock Award Plan (the "Plan"). The Plan provides for the award of stock options (incentive and non-qualified), stock awards and stock appreciation rights to officers, directors, employees and consultants who provide services to the Company. The terms of awards under the Plan are made by the Administrator of the Plan appointed by the Company's Board of Directors (the "Board"), or in the absence of an Administrator, by the Board. The Company has reserved 10 million shares for issuance under the Plan.

Stock Award:

On December 14, 2016, the Board awarded to each of its Science Advisors, Prof. Danny Baranes and Dr. Liat Hammer, a total of 440,000 shares of common stock of which 150,000 shares vested on December 14, 2016, 145,000 shares vested on December 14, 2017, and 145,000 shares will vest on December 14, 2018, provided such advisors are still providing services to the Company.

The value of the vested awards had been recorded as research and development expenses in the respective periods.  A total of 290,000 stock awards are expected to vest during fiscal 2018.

On January 23, 2018, the Company awarded 10,000 shares of its common stock to Mr. Hilman under its 2016 Stock Option and Stock Award Plan.

	For the three months ended March 31,		For years ended December 31,
	2018		2017		2016
Number of shares issued		10,000		290,000		300,000
Fair market value per share	$	2.80	$	2.80	$	0.1867
Stock based compensation recognized	$	28,000	$	812,000	$	56,000

Stock Options:

(a)   Stock Options granted to Science Advisors:

On November 15, 2017, under the 2016 Stock Option and Award Plan , the Board awarded two of its Science Advisors the following three-year stock options: (i) an immediately exercisable option to purchase 6,667 shares of common stock at an exercise price of $2.00 per share, (ii) an option to purchase 6,667 shares of common stock exercisable on November 15, 2018 at an exercise price of $2.00 per share and (iii) an option to purchase 6,666 shares of common stock exercisable on November 15, 2019 at an exercise price of $2.00 per share, provided the advisors are still providing services to the Company.

On November 15, 2017, under the 2016 Stock Option and Award Plan , the Board awarded a Science Advisor, the following three-year stock options: (i) an option to purchase 15,000 shares of common stock, exercisable on November 15, 2018 at an exercise price of $0.40 per share and (ii) an option to purchase 15,000 shares of common stock exercisable on November 15, 2019 at an exercise price of $0.40 per share, provided the advisor is still providing services to the Company.

During the year ended December 31, 2017, total recognized compensation in respect of the above stock option compensation was $29,000, which amount has been allocated as advisory services as part of general and administrative expenses.

13

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 7 – Stock Plan (continued)

Stock Options: (continued)

During the three months ended March 31, 2018, total recognized compensation in respect of the above stock option compensation was $27,975, which amount has been allocated as advisory services as part of general and administrative expenses.

As of March 31, 2018, total unrecognized compensation remaining to be recognized in future periods totaled $107,255.

(b)   Stock Options granted to Officers:

On December 4, 2017, the Board granted five-year option awards to each of its two officers for the purchase of 300,000 shares of the common stock of the Company. Option awards are granted with an exercise price of $2 at the date of grant; and vest on December 4, 2018, expiring on December 4, 2022.

During the year ended December 31, 2017, total recognized compensation of $106,029 was recorded as general and administrative expenses.

During the three months ended March 31, 2018, total recognized compensation of $353,430 was recorded as general and administrative expenses.

As of March 31, 2018, total unrecognized compensation remaining to be recognized in future periods totaled $954,261.

The fair value of each option award above is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions at the measurement date(s):

	Measurement date
Dividend yield		0%
Expected volatility		114.69 ~ 126.34%
Risk-free interest rate		1.79% ~ 2.15%
Expected life (years)		3 ~ 5
Stock Price	$	2.80
Exercise Price	$	0.40 ~ 2.00

A summary of the activity for the Company's stock options for the period ended March 31, 2018 and for the year ended December 31, 2017, is as follows:

	March 31, 2018				December 31, 2017
			Weighted Average				Weighted Average
	Shares		Exercise Price		Shares		Exercise Price
Outstanding, beginning of period		670,000	$	1.93		-	$	-
Granted		-	$	-		670,000	$	1.93
Exercised		-	$	-		-	$	-
Canceled		-	$	-		-	$	-
Outstanding, end of period		670,000	$	1.93		670,000	$	1.93
Options exercisable, end of period		13,334	$	2.00		13,334	$	2.00
Options expected to vest, end of period		656,666	$	1.89		656,666	$	1.89
Weighted average fair value of options granted			$	2.36			$	2.36

14

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 8 – Capital Stock

Authorized:

The Company has authorized 100,000,000 shares of common stock, $0.0001 par value and 10,000 shares of a class of preferred stock called the "Series A Preferred Stock", par value $0.001.

Series A Preferred Stock:

Each share of Series A Preferred Stock has a stated value of $1 per share and accrues 4% per annum for determination of liquidation, conversion or redemption. The shares convert at the option of the holder into shares of common stock at the market value of the common stock. The Series A Preferred Stock vote as a single class and maintain 66 2/3% of the total votes as long as any shares of Series A Preferred Stock remain outstanding. The Series A Preferred Stock contains liquidation preference (senior rank to all common) and are not to be amended without the holders' approval.

At inception on August 22, 2016, the Company approved the issuance of 1,000 shares of Series A Preferred Stock at par value to Jonah Meer, the Company's Chief Executive Officer, Chief Financial Officer and Secretary, for cash $1 was paid for the Series A Preferred Stock.

Common Stock issuances during the three months ended March 31, 2018:

On January 23, 2018 the Company sold 312,500 shares of its common stock to Conventus and raised $500,000 pursuant to a subscription agreement in a private placement offering. The proceeds of the offering will be used for research and general corporate purposes.

On January 23, 2018, the Company issued 10,000 shares for advisory services (Note 6(4)).

On February 6, 2018, the Company received a warrant exercise notice in respect of 2,000 warrants from a subscriber and issued 1,715 shares of common stock on a cashless exercise basis as per the cashless exercise formula contained in the warrant.

Common Stock issuances as of December 31, 2017:

On December 13, 2017, 119,950 shares were issued to Ariel as an exercise of warrants pursuant to a License Agreement (Note 5 – License and Research Funding Agreement). These shares were valued at $335,860 or $2.80 per share, based on fair market value, and the associated cost was recorded as research and development expenses.

15

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 8 – Capital Stock (continued)

Common Stock issuances as of December 31, 2017 (continued):

On December 14, 2017, the Company issued 290,000 shares to two Scientific Advisors as a stock award, valued at $812,000, or $2.80 per share, based on fair market value, and recorded the associated cost as research and development expenses. (Note 8 – Stock Plan).

During the year ended December 31, 2017, the Company received aggregate proceeds of $32,000 in private placement subscriptions for a total of 128,000 shares.

During the year ended December 31, 2017 the Company received warrant exercise notices in respect of 512,000 warrants from various subscribers and issued a total of 442,960 shares of common stock on a cashless exercise basis as per the cashless exercise formula in the warrant.

Share Purchase Warrants

In accordance with authoritative accounting guidance, the fair value of the aforementioned warrants was calculated using the Black-Scholes option-pricing model with the following assumptions at the measurement date(s):

	Measurement date
Dividend yield		0%
Expected volatility		97.90~119.33%
Risk-free interest rate		1.47~1.60%
Expected life (years)		2.71~2.92
Stock Price	$	0.25
Exercise Price	$	0.40

As of March 31, 2018, and December 31, 2017, the following common stock purchase warrants were outstanding:

	Warrants (1)			Weighted Average Exercise Price
Outstanding – December 31, 2016		502,000		$	0.40
Granted		64,000			0.40
Forfeited/Canceled		-			-
Exercised		512,000	(2)		0.40
Outstanding – December 31, 2017		54,000			0.40
Granted		-			-
Forfeited/Canceled		-			-
Exercised		2,000	(3)		0.40
Outstanding – March 31, 2018		52,000		$	0.40

(1) Each two shares of common stock purchased under the private placement provides for one warrant to acquire an additional share of common stock together with the payment of $0.40.

(2) During the year ended December 31, 2017, investors exercised 512,000 share purchase warrants and received 442,960 underlying shares for exercise on a cashless basis.

(3) During the three-month period ended March 31, 2018, investors exercised 2,000 share purchase warrants and received 1,715 underlying shares for exercise on a cashless basis.

16

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

Note 9 – Subsequent Events

On April 12, 2018, the Company amended its services agreement, dated December 12, 2017 with Ariel Scientific Innovations Ltd. The Amendment provides for the payment of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request. All other terms and conditions of the Services Agreement remain in effect.

On April 16, 2018, the Company entered into a one-year advisory board member consulting agreement  with Chenfeng Ke, Assistant Professor of Chemistry at of Dartmouth College, pursuant to which Professor Ke will serve on the Company's Scientific Advisory Board. In consideration for serving on the Scientific Advisory Board, the Company granted an option to purchase 30,000 shares of its common stock to Professor Ke.

On April 23, 2018, the Company entered into a six-month investment relations agreement with an investor relations firm for a monthly consulting fee of $5,000 and issued 75,000 shares of its common stock  as commitment shares for agreeing to enter into such agreement.

17

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

This Quarterly Report on Report contains predictions, estimates and other forward-looking statements relating to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "intends", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors including the risks set forth in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017, as filed with the Securities and Exchange Commission (the "SEC") on March 2, 2018, that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.

Forward-looking statements represent our management's beliefs and assumptions only as of the date of this Report. You should read this Report with the understanding that our actual future results may be materially different from what we expect.

All forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they are made, except as required by federal securities and any other applicable law.

The management's discussion and analysis of our financial condition and results of operations are based upon our condensed financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP").

The following discussion of our financial condition and results of operations should be read in conjunction with our unaudited condensed financial statements for the three months ended March 31, 2018 and the notes thereto appearing elsewhere in this Report and the Company's audited financial statements for the fiscal year ended December 31, 2017, as filed with the SEC in its Annual Report on Form 10-K on March 2, 2018, along with the accompanying notes.  As used in this quarterly report, the terms "we", "us", "our", and the "Company" means BioLabMart Inc. prior to August 8, 2017 and Qrons Inc. since August 8, 2017.

Overview

The Company was incorporated under the laws of the State of Wyoming on August 22, 2016 as BioLabMart Inc. and changed its name to Qrons Inc. on August 8, 2017.

The Company is a preclinical stage biotechnology company developing advanced cell-based solutions to combat neuronal injuries with a laser focus on traumatic brain injuries. The technology could potentially treat a wide range of neurodegenerative diseases. The Company's treatment integrates proprietary, engineered mesenchymal stem cells, 3D printable scaffolding, smart materials and a novel delivery system.  

The Company raised an aggregate of $281,000 between November 2, 2016 and January 27, 2017 from 37 accredited investors and $500,000 in January 2018 from an accredited investor in private placement offerings under Regulation D and Regulation S under the Securities Act of 1933, respectively. 

The Company relies primarily on its two co-founders, Jonah Meer and Ido Merfeld, who are its sole officers and directors to manage its day- to-day business.  We currently outsource all professional services to third parties in an effort to maintain lower operational costs.

Messrs. Meer and Merfeld, as the holders of the Company's issued and outstanding shares of the Company's Class A Preferred Stock, collectively have 66 2/3% of the voting rights of the Company. Acting together, they will be able to influence the outcome of all corporate actions requiring approval of our stockholders.

The Company's common stock was approved by the Financial Industry Regulatory Authority ("FINRA") for quotation on the OTC pink sheets under the symbol "BLMB" as of July 3, 2017. On July 6, 2017, the Company's board of directors and shareholders approved an amendment to its Articles of Incorporation changing the name of the Company from "BioLabMart Inc." to "Qrons Inc. The Secretary of State of the State of Wyoming approved such name change, effective August 8, 2017.  FINRA announced the Company's name change to Qrons Inc. on its Daily List on August 9, 2017. The new name and symbol, "QRON", became effective on August 10, 2017.

License Agreement with Ariel

On December 14, 2016, the Company entered into a license and research funding agreement ("License Agreement") with Ariel University R&D Co., Ltd., ("Ariel"), a wholly owned subsidiary of Ariel University, based in Ariel, Israel. In consideration for payments under the License Agreement, the Company received an exclusive worldwide royalty-bearing license in Ariel patents and know-how to develop and commercialize products for neuronal tissue regeneration and/or repair, resulting from Ariel's research or technology or the Company's research funding.

Services Agreements with Ariel

In lieu of extending the research financing and research period under the License Agreement beyond the initial 12 months, on December 14, 2017, the Company entered into a 12-month services agreement with Ariel (the "Services Agreement") pursuant to which a team at Ariel University under the direction of Prof. Danny Baranes will conduct molecular biology research activities involving the testing of scaffold materials for the Company. As compensation for such services, the Company paid Ariel (i) $17,250 on December 19, 2017 and  (ii) $17,250 on April 26, 2018. On April 12, 2018, the Services Agreement was amended to provide for the payment by the Company of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request.

Option Agreement with Dartmouth

On October 17, 2017, the Company entered into an option agreement with the Trustees of Dartmouth College ("Dartmouth") which provides for, among other things, the grant to the Company of a one-year exclusive option to negotiate a worldwide, royalty bearing, exclusive license with Dartmouth for 3D printable materials in the field of human and animal health. The option agreement provided the opportunity to evaluate the intellectual property, potential products and markets and for further research to develop the intellectual property. The Company exercised its option on March 26, 2018 to negotiate definitive license terms, as it continues further evaluation and research.

18

Plan of Operations

To date, we have not yet developed any candidate for product development nor generated any revenue from the sales of products or services.

In the next 12 months, we plan on establishing additional research teams with each team focusing on a specific area of research in conformance with our multidisciplinary approach to integrate the biological, chemical and mechanical challenges of treating traumatic brain injury to enable the development of what we believe to be our novel stem cell delivery system, via an implantable product.

We also plan to further develop our proprietary, neuro-regenerative mesenchymal stem cell lines as it relates to our product candidate and to continue working with Dartmouth in our development of innovative 3D printable biocompatible advanced materials and stem cell delivery techniques.

On January 9, 2017, Ariel filed a US provisional patent application related to our neural cell development research. A U.S. provisional patent application provides the means to establish an early effective filing date for a later filed non-provisional patent application. It does not mature into an issued patent unless the applicant files a regular non-provisional patent application within one year. On January 22, 2018, Ariel refiled the provisional patent application. Subject to positive efficacy findings, we currently intend to file for a non-provisional application within one year of the filing of the provisional application.

As our research progresses if and when we achieve functional supporting results, we or Ariel intend to file for additional patents. Under the License Agreement Ariel shall be responsible for the preparation, filing, prosecution and protection of its patents. Such preparation shall be done in consultation with the Company, provided expenses in excess of $1,000 will require Company pre-approval. The Company shall reimburse Ariel for all documented patent-related expenses. We currently estimate the cost of such patent preparation and filing to be approximately $7,000 which we intend to fund with the Company's operating capital.

We will continue exploring sources of additional debt and equity financings as well as available grants.

There is substantial doubt that we can continue as an on-going business after the next twelve months unless we obtain additional capital to pay our expenditures. We do not currently have sufficient resources to accomplish all of the conditions necessary for us to generate revenue.

RESULTS OF OPERATIONS

Three Months Ended March 31, 2018 and March 31, 2018

Revenue

We have not generated any revenue since our inception and do not expect to generate any revenue from the sale of products in the near future.

Net Loss

Our net loss for the three months ended March 31, 2018 and 2017 is as follows:

	For the three months ended March 31,
	2018			2017
Net sales	$	-		$	-
Operating expenses:
Research and development expenses		40,897			776
Professional fees		21,180			-
General and administrative expenses		426,551			305
Total operating expenses		488,628			1,081
Income (loss) from operations		(488,628	)		(1,081	)
Interest expense		(6,858	)		(2,700	)
Change in derivative liabilities		2,016			-
Net (loss)	$	(493,470	)	$	(3,781	)

19

Operating Expenses

Total operating expenses for the three months ended March 31, 2018 were $488,628 compared to total operating expenses of $1,081for the three months ended March 31, 2017. During the three months ended March 31, 2018, the Company incurred $40,897 of research and development expenses including payroll of $21,700, service fees related to certain research and development agreements of $12,255, patent consultation and filing fees and certain purchases of expendable lab supplies and equipment compared to $776 of research and development expenses for the three months ended March 31, 2017. The Company incurred general and administrative expenses of $426,551 for the three months ended March 31, 2018 and $305 of general and administrative expenses for the three months ended March 31, 2017. The increase in general and administrative expense during the three months ended March 31, 2018 was primarily due to stock-based compensation costs of $409,405 related to the issuance of stock options to our officers, and stock awards to members of our advisory board. Professional fees totaled $21,180 for the three months ended March 31, 2018 compared to no professional fees during the three months March 31, 2017.   Other expense in the three months ended March 31, 2018 and March 31, 2017 include interest expense related to the accretion of our convertible notes of $6,858 and $2,700, respectively, and a gain on the value of derivative liabilities of $2,016 in the three months ended March 31, 2018, with no similar gain in the three months ended March 31, 2017. We recorded a net loss of $493,470 in the three months ended March 31, 2018 compared to a net loss of $3,781 in the three months ended March 31, 2017.

Liquidity and Financial Condition

Our current assets as of March 31, 2018 were $506,201 which consisted of $474,308 in cash and cash equivalents and $31,893 of prepaid expenses.  We are in the early stage of development, have experienced net losses to date and have not generated revenue from operations which raises substantial doubt about our ability to continue as a going concern. There are a number of conditions that we must satisfy before we will be able to commercialize our potential product and generate revenue, including successful development of a product candidate, which includes clinical trials, FDA approval, demonstration of effectiveness sufficient to generate commercial orders by customers, establishing production capabilities as well as effective marketing and sales capabilities for our product. We do not currently have sufficient resources to accomplish any of these conditions necessary for us to generate revenue and currently expect to incur increasing operating expenses.  We will require substantial additional funds for operations, the service of debt and to fund our business objectives. We will have to continue to rely on equity and debt financing. There can be no assurance that financing, whether debt or equity, will always be available to us in the amount required at any particular time or for any particular period or, if available, that it can be obtained on terms favorable to us. While we secured financing in the amount of $500,000 in January 2018, without additional financing, we do not believe our resources will be sufficient to meet our operating and capital needs beyond the fourth quarter of 2018.

Working Capital

	At March 31, 2018		At December 31, 2017
Current Assets	$	506,201	$	73,579
Current Liabilities		69,993		53,306
Working Capital	$	436,208	$	20,273

Cash Flows

	At March 31, 2018			At March 31, 2017
Net cash (used in) operating activities	$	(83,459	)	$	(209	)
Net cash provided by investing activities		-			-
Net cash provided by financing activities	$	500,000		$	12,410
Net increase (decrease) in cash during period	$	416,541		$	12,201

Operating Activities

Net cash used in operating activities was $83,459 for the three-month period ended March 31, 2018 compared to $209 for the three-month period ended March 31, 2017.  Cash used in operating activities is predominantly the result of our net loss, offset by non cash items including compensation in the form of stock options totaling $381,405 and stock awards totaling $28,000, accretion expense of $6,362, a gain from the change in the value of derivative liabilities of $2,016.  Changes in operating assets and liabilities includes an increase to accounts payable of $11,845, an increase to prepaid expenses of $16,081 and an increase to accounts payable related party of $496 during the three months ended March 31, 2018.  During the three months ended March 31, 2017 cash used in operating activities includes an increase to accounts payable of $1,072 offset by accretion of debt discount totaling $2,500.

Investing Activities

There were no investing activities during the three-month periods ended March 31, 2018 and 2017.

Financing Activities

Net cash provided by financing activities was $500,000 for the three-month period ended March 31, 2018 compared to $12,410 for the three-month period ended March 31, 2017. The Company received proceeds from a private placement offering totaling $500,000 in the three-month period ended March 31, 2018 as compared to $32,000 in the three months ended March 31, 2017,  which included financing costs of $19,590 with no similar expense in the current three-month period ended March 31, 2018.

20

Going Concern

Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that may be necessary should we be unable to continue in operation. Our report from our independent registered public accounting firm for the fiscal year ended December 31, 2017 includes an explanatory paragraph stating the Company has experienced net losses to date, and it has not generated revenue from operations, and will need additional working capital to service debt and for ongoing operations.  These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. If we are unable to obtain sufficient funding, our business, prospects, financial condition and results of operations will be materially and adversely affected and we may be unable to continue as a going concern.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Critical Accounting Policies and Estimates

The preparation of our financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments which are based on historical experience and on various other factors that are believed to be reasonable under the circumstances. The results of their evaluation form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions and circumstances. Our significant accounting policies are more fully discussed in note 2 to our financial statements contained herein.  

Recent Accounting Pronouncements

There were various accounting standards and interpretations issued recently, none of which are expected to have a material effect on the Company's operations, financial position or cash flows. 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company and are not required to provide this information.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, as of March 31, 2018, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended. Based on this evaluation, our principal executive officer and principal financial officer have concluded that, based on the material weaknesses discussed below, our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed by us in reports filed or submitted under the Securities Exchange Act were recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Act Commission's rules and forms and that our disclosure controls are not effectively designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act is accumulated and communicated to management, including our principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Our internal controls are not effective for the following reasons: (i) there is an inadequate segregation of duties consistent with control objectives as management is comprised of only two persons, one of which is the Company's principal executive officer and principal financial officer and, (ii) the Company does not have a formal audit committee with a financial expert, and thus the Company lacks the board oversight role within the financial reporting process.

In order to mitigate the foregoing material weakness, we have engaged an outside accounting consultant with significant experience in the preparation of financial statements in conformity with U.S. GAAP to assist us in the preparation of our financial statements to ensure that these financial statements are prepared in conformity to U.S. GAAP. We will continue to monitor the effectiveness of this action and make any changes that our management deems appropriate.

We would need to hire additional staff to provide greater segregation of duties. Currently, it is not feasible to hire additional staff to obtain optimal segregation of duties. Management will reassess this matter in the following year to determine whether improvement in segregation of duty is feasible. In addition, we would need to expand our board to include independent members.

Going forward, we intend to evaluate our processes and procedures and, where practicable and resources permit, implement changes in order to have more effective controls over financial reporting. 

Changes in Internal Control over Financial Reporting

During the period covered by this report, there were no changes in our internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. 

21

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company. The Company's property is not the subject of any pending legal proceedings.

ITEM 1A. RISK FACTORS

The Company is a smaller reporting company and is not required to provide this information.

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

There were no sales of equity securities sold during the period covered by this Report that were not previously included in a Current Report on Form 8-K other than:

On February 5, 2018, the Company issued 1,715 shares of common stock upon the exercise of a warrant to purchase 2,000 shares of the Company's common stock on a cashless basis by a subscriber.

On April 23, 2018, the Company issued 75,000 shares of its common stock to an investor relations firm as commitment shares for agreeing to enter into and provide consulting services pursuant to an investor relations agreement with the Company.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not Applicable

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

Exhibit Number	Exhibit
31.1	Certification of the Principal Executive Officer and Principal Financial Officer required by Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of the Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial Officer) pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)
101.INS	XBRL INSTANCE DOCUMENT
101.SCH	XBRL TAXONOMY EXTENSION SCHEMA
101.CAL	XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
101.DEF	XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
101.LAB	XBRL TAXONOMY EXTENSION LABEL LINKBASE
101.PRE	XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

22

SIGNATURES

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

	QRONS INC.
Date: May 9, 2018	By:	/s/ Jonah Meer
	Name:	Jonah Meer
	Title:	Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer)

23

EX-31.1

Exhibit 31.1

Certification Pursuant to pursuant to Rule 13a-14(a) or Rule 15d-14(a)

of the Securities Exchange Act of 1934, as amended

I, Jonah Meer, (Principal Executive Officer and Principal Financial and Accounting Officer), certify that:

1.I have reviewed this quarterly report on Form 10-Q of Qrons Inc. (the "Company);

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.As the registrant's certifying officer, 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 15-d-15 (f) for the registrant and I 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 my 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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

5.  As the registrant's certifying officer, 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 registrant's board of directors (or persons performing the equivalent function):

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: May 9, 2018	By:	/s/Jonah Meer
		Name: Jonah Meer
		Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned, Jonah Meer, Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer) of Qrons Inc. (the "Company"), certifies, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350) that, to his knowledge, the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2018 (the "Report"):

          (1)  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/Jonah Meer

Jonah Meer

Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer)

Date: May 9, 2018

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Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 08, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Qrons Inc.
Entity Central Index Key	0001689084
Trading Symbol	QRON
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,804,125

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Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 474,308	$ 57,767
Prepaid expenses	31,893	15,812
Total current assets	506,201	73,579
TOTAL ASSETS	506,201	73,579
Current liabilities
Accounts payable and accrued liabilities	25,986	14,141
Accounts payable and accrued liabilities - related party	1,906	1,410
Convertible note - related party, net of debt discount	13,027	6,665
Derivative liabilities	29,074	31,090
Total current liabilities	69,993	53,306
Total liabilities	69,993	53,306
Stockholders' equity
Series A Preferred Shares: $0.001 par value, authorized 10,000; 2,000 shares issued and outstanding	2	2
Common stock, $0.0001 par value: shares authorized 100,000,000; 12,729,125 and 12,404,910 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	1,273	1,240
Additional Paid-in Capital	2,521,083	1,611,711
Accumulated deficit	(2,086,150)	(1,592,680)
Total stockholder's equity	436,208	20,273
TOTAL LIABILITIES & EQUITY	$ 506,201	$ 73,579

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Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Series A Preferred Shares, par value	$ 0.001	$ 0.001
Series A Preferred Shares, authorized	10,000	10,000
Series A Preferred Shares, shares issued	2,000	2,000
Series A Preferred Shares, shares outstanding	2,000	2,000
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares, issued	12,729,125	12,404,910
Common stock shares, outstanding	12,729,125	12,404,910

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Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net sales
Operating expenses:
Research and development expenses	40,897	776
Professional fees	21,180
General and administrative expenses	426,551	305
Total operating expenses	488,628	1,081
Income (loss) from operations	(488,628)	(1,081)
Other Income (expense)
Interest expense	(6,858)	(2,700)
Change in derivative liabilities	2,016
Other (expense)	(4,842)	(2,700)
Net (loss)	$ (493,470)	$ (3,781)
Net (loss) per common shares (basic and diluted)	$ (0.04)	$ (0.00)
Weighted average shares outstanding Basic and diluted	12,639,078	11,528,622

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Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities
Net loss	$ (493,470)	$ (3,781)
Adjustments to reconcile net income to net cash provided from (used by) operating activities:
Stock awards recorded as advisory services	28,000
Stock options granted and recorded as administrative expenses and advisory services	381,405
Accretion of debt discount	6,362	2,500
Change in derivative liabilities	(2,016)
Changes in operating assets and liabilities:
Prepaid expenses	(16,081)
Accounts payable and accrued liabilities	11,845	1,072
Accounts payable and accrued liabilities, related party	496
Net cash provided (used by) operating activities	(83,459)	(209)
Cash Flows From Investing Activities
Net cash provided from (used by) investing activities
Cash Flows From Financing Activities
Proceeds from private placement	500,000	32,000
Financing costs		(19,590)
Proceeds from convertible note
Net cash provided from financing activities	500,000	12,410
Increase (decrease) in cash and cash equivalents	416,541	12,201
Cash at beginning of period	57,767	155,242
Cash at end of period	474,308	167,443
SUPPLEMENTAL DISCLOSURES
Interest paid
Income taxes paid

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Description of Business and Basis of Presentation

3 Months Ended

Mar. 31, 2018

Description of Business and Basis of Presentation [Abstract]

Description of Business and Basis of Presentation

Note 1 – Description of Business and Basis of Presentation

Organization and nature of business:

Qrons Inc.  ("Qrons" and/or the "Company") was incorporated under the laws of the State of Wyoming on August 22, 2016 under the name BioLabMart Inc. Our headquarters are located at 777 Brickell Avenue, Suite 500, Miami, FL 33131.

The Company is a preclinical stage biotechnology company developing advanced cell-based solutions to combat neuronal injuries with a laser focus on traumatic brain injuries. The technology could potentially treat a wide range of neurodegenerative diseases. The Company's treatment integrates proprietary, engineered mesenchymal stem cells, 3D printable scaffolding, smart materials and a novel delivery system.

On July 6, 2017, the board of directors and a majority of the Company's shareholders approved an amendment to the Company's Articles of Incorporation to change the name of the Company from "BioLabMart Inc." to "Qrons Inc.". On August 8, 2017, the Company filed Amended Articles of Incorporation with the State of Wyoming to effectuate such name change.The Company's common stock was approved by the Financial Industry Regulatory Authority ("FINRA") for quotation on the OTC pink sheets under the symbol "BLMB" as of July 3, 2017. FINRA announced the Company's name change to Qrons Inc. on its Daily List on August 9, 2017. The new name and symbol change to "QRON" for the OTC market was effective August 10, 2017.

Ariel Agreements

On December 14, 2016, the Company entered into a license and research funding agreement ("License Agreement") with Ariel Scientific Innovations Ltd., formerly known as Ariel University R&D Co., Ltd., ("Ariel"), a wholly owned subsidiary of Ariel University, based in Ariel, Israel. Under the terms of the License Agreement, Professor Danny Baranes, the principal investigator and his research team will carry out further research relating to cell treatment with conditioned medium for neuronal tissue regeneration and repair. In consideration for payments under the License Agreement, the Company received an exclusive worldwide royalty- bearing license in Ariel patents and know-how to develop and commercialize products based on or incorporating conditioned medium for neuronal tissue regeneration and/or repair, resulting from Ariel's research or technology or the Company's research funding (the "Products). Under the License Agreement, the Company is required to use its best efforts to develop and commercialize the Products in accordance with development milestones set forth in the Agreement.

In lieu of extending the research financing and research period under the License Agreement beyond the initial 12 months, on December 14, 2017, the Company entered into a 12-month services agreement with Ariel (the "Services Agreement") pursuant to which a team at Ariel under the direction of Prof. Danny Baranes will conduct molecular biology research activities involving the testing of scaffold materials for the Company. On April 12, 2018, the Services Agreement was amended to provide for additional services as the Company may request.

On March 6, 2018, the Company entered into an additional services agreement with Ariel for the services of Professor Gadi Turgeman and his neurobiology research team in their labs.

Dartmouth Agreements

On October 17, 2017, the Company entered into an option agreement with the Trustees of Dartmouth College which provides for, among other things, the grant to the Company of a one-year exclusive option to negotiate a worldwide, royalty bearing, exclusive license with Dartmouth for 3D printable materials in the field of human and animal health. During the option period, the Company agreed to use all commercially reasonable resources to evaluate the intellectual property and provide quarterly milestone reports and a commercialization plan upon exercise of the option. Pursuant to the agreement, the Company agreed to finance the prosecution of patents by Dartmouth to protect its intellectual property.  Further, the agreement provides for the payment by the Company of an option fee and certain license fees and royalty payments based upon the Company's product sales, as part of a final negotiated license agreement. The Company exercised its option on March 26, 2018 to negotiate definitive license terms, as it continues further evaluation and research.

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Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2 – Summary of Significant Accounting Policies

Financial Statement Presentation: The unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Fiscal year end: The Company has selected December 31 as its fiscal year end.

Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported therein. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from these estimates.

Cash Equivalents: The Company considers all highly liquid investments with maturities of 90 days or less from the date of purchase to be cash equivalents.

Research and Development Costs: The Company charges research and development costs to expense when incurred in accordance with FASB ASC 730, "Research and Development". Research and development costs were $40,897 and $776 for the three months period ended March 31, 2018 and March 31, 2017, respectively.

Advertising and Marketing Costs: Advertising and marketing costs are expensed as incurred. The Company incurred $5,000  in advertising and marketing costs during the three months ended March 31, 2018 and incurred no advertising and marketing costs during the three months ended March 31, 2017.

Related parties: For the purposes of these financial statements, parties are considered to be related if one party has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities.

Stock-Based Compensation and Other Share-Based Payments: The expense attributable to the Company's Directors is recognized over the period the amounts are earned and vested, and the expense attributable to the Company's non-employees is recognized when vested, as described in Note 7, Stock Plan.

Fair Value of Financial Instruments

FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. FASB ASC 820 describes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level of input that is significant to the fair value measurement of the instrument.

The following table provides a summary of the fair value of our derivative liabilities as of March 31, 2018 and December 31, 2017:

	Fair value measurements on a recurring basis
	Level 1		Level 2		Level 3
As of March 31, 2018:
Liabilities
Derivative liabilities	$	-	$	-	$	29,074
As of December 31, 2017:
Liabilities
Derivative liabilities	$	-	$	-	$	31,090

Warrants: The Company accounts for common stock warrants in accordance with applicable accounting guidance provided in ASC Topic 815 "Derivatives and Hedging – Contracts in Entity's Own Equity" (ASC Topic 815), as either derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement.  For warrants classified as equity instruments we apply the Black Scholes model.   Presently all warrants issued and outstanding are accounted for using the equity method.

Income taxes: The Company has adopted ASC Topic 740 – "Income Taxes" ASC Topic 740 requires the use of the asset and liability method of accounting for income taxes. Under the asset and liability method of ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

Basic and Diluted Loss Per Share: In accordance with ASC Topic 280 – "Earnings Per Share", the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common stock outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock had been issued and if the additional shares of common stock were dilutive.

Potential common stock consists of the incremental common stock issuable upon the exercise of common stock warrants (using the if-converted method), convertible notes, classes of shares with conversion features, and stock awards and stock options. The computation of basic loss per share for the three-month periods ended March 31, 2018 and 2017 excludes potentially dilutive securities of underlying share purchase warrants, convertible notes, stock options and preferred shares, because their inclusion would be antidilutive. As a result, the computations of net loss per share for each period presented is the same for both basic and fully diluted.

In The table below reflects the potentially dilutive securities at each reporting period which have been excluded from the computation of diluted net loss per share:

	March 31, 2018		March 31, 2017
Stock purchase warrants		52,000		562,000
Research Warrants at 3% of issued and outstanding shares		381,874		-
Convertible Notes		26,906		-
Series A Preferred shares		700		-
Stock options, vested		13,334		-
Stock options, not yet vested		656,666		-
Stock awards, not yet vested		290,000		-
		1,421,480		562,000

New Accounting Pronouncements: There were various accounting standards and interpretations issued recently, none of which are expected to have a material effect on the Company's operations, financial position or cash flows.

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Going Concern

3 Months Ended

Mar. 31, 2018

Going Concern [Abstract]

Going Concern

Note 3 – Going Concern

The Company has experienced net losses to date, and it has not generated revenue from operations.  While the Company has recently raised proceeds it does not believe its resources will be sufficient to meet its operating and capital needs beyond the fourth quarter of 2018. The Company expects it will require additional capital to fully implement the scope of its proposed business operations, which raises substantial doubt about its ability to continue as a going concern.  The Company will have to continue to rely on equity and debt financing. There can be no assurance that financing, whether debt or equity, will always be available to the Company in the amount required at any particular time or for any particular period or, if available, that it can be obtained on favorable terms.

The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amount and classification of liabilities that might cause results from this uncertainty.

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Convertible Note - Related Party and Derivative Liabilities

3 Months Ended

Mar. 31, 2018

Convertible Note - Related Party and Derivative Liabilities [Abstract]

Convertible Note - Related Party and Derivative Liabilities

Note 4 – Convertible Note – Related Party and Derivative Liabilities

On September 1, 2016, the Company entered into a convertible debenture agreement with CubeSquare, LLC ("CubeSquare"), of which our Chief Executive Officer is the managing partner and our President is a 25% owner. The Company received proceeds of $10,000 during fiscal 2016 ("Note 1"). The note bears interest at 8% per annum and was due on September 1, 2017. Interest accrues from September 1, 2016 and is payable on maturity. Interest is payable, at the lender's option, in cash or common stock. Any portion of the loan and unpaid interest are convertible at any time at the option of the lender into shares of common stock of the Company at a conversion price of the greater of (i) $0.0625 per share if the Company's shares are not trading on a public market and; (ii) in the event the Company's shares are listed for trading on a public market, the conversion price shall be equal to a 50% discount to  the average of the five  lowest trading prices during the previous twenty  trading days prior to the date of the notice of conversion from the lender.

On September 28, 2017 the Company and CubeSquare amended Note 1 to extend the maturity date of the note from September 1, 2017 to September 1, 2018 under the same terms and conditions.

On September 27, 2017, the Company entered into a second convertible debenture agreement with CubeSquare under which the Company received proceeds of $15,000 (Note 2). Note 2 bears interest at 8% per annum and is due on September 27, 2018. Interest shall accrue from September 27, 2017 and shall be payable on maturity.   Any portion of the principal and unpaid interest under the note is convertible at any time at the option of CubeSquare into shares of common stock of the Company at a conversion price equal to a 50% discount to the average of the five lowest trading prices during the previous twenty trading days prior to the date of the notice of conversion from CubeSquare.

The Company analyzed the amendment to Note 1 and Note 2 under ASC 815-10-15-83 and concluded that these two convertible debentures meet the definition of a derivative. We estimated the fair value of the derivative on the inception dates, and subsequently, using the Black-Scholes valuation technique, adjusted for the effect of dilution, because that technique embodies all of the assumptions (including, volatility, expected terms, and risk-free rates) that are necessary to fair value complex derivate instruments.

The carrying value of these convertible notes is as follows:

	March 31, 2018			December 31, 2017
Face value of certain convertible notes	$	25,000		$	25,000
Less: unamortized discount		(11,973	)		(18,335	)
Carrying value	$	13,027		$	6,665

Amortization of the discount over the three months ended March 31, 2018 and 2017 totaled $6,362 and $2,500, respectively, which amounts have been recorded as interest expense.  

As a result of the application of ASC No. 815 in the periods ended March 31, 2018 and December 31, 2017 the fair value of the conversion feature is summarized as follows:

Balance at December 31, 2017	$	31,090
Derivative addition associated with convertible notes		-
Loss on change in fair value		(2,016	)
Balance at March 31, 2018	$	29,074

The fair value at the commitment and re-measurement dates for the Company's derivative liabilities were based upon the following management assumptions as of March 31, 2018 and commitment date:

	Commitment Date		March 31, 2018		December 31, 2017
Expected dividends		0		0		0
Expected volatility	101% ~103%		95% ~ 102%		110% ~ 115%
Expected term	0.92 ~ 1 year		0.42 ~0.49 year		0.67 ~0.74 year
Risk free interest rate		1.33%		1.93%	1.53% ~ 1.65%

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License and Research Funding Agreements

3 Months Ended

Mar. 31, 2018

License and Research Funding Agreements [Abstract]

License and Research Funding Agreements

Note 5 – License and Research Funding Agreements

On December 14, 2016, the Company entered the License Agreement with Ariel. Under the terms of the License Agreement, Professor Danny Baranes, the principal investigator and his research team will carry out further research relating to cell treatment with conditioned medium for neuronal tissue regeneration and repair. The Company shall fund the research completed during the research period in the total amount of $100,000. In consideration for payments under the License Agreement, the Company received an exclusive worldwide royalty- bearing license in Ariel patents and know-how to develop and commercialize products based on or incorporating conditioned medium for neuronal tissue regeneration and/or repair, resulting from Ariel's research or technology or the Company's research funding (the "Products). Under the License Agreement, the Company is required to use its best efforts to develop and commercialize the Products in accordance with development milestones set forth in the Agreement.

In addition, upon the occurrence of an Exit Event (as defined in the License Agreement) of the Company or of any affiliate commercializing the products, the Company is obligated to issue to Ariel an immediately exercisable warrant for that number of shares equal to 4% of the issued and outstanding shares of the Company at the time of issuance.

The Company and Ariel entered into Addendum #1, effective December 13, 2017 (the "Addendum") to the License Agreement pursuant to which Ariel was permitted to exercise a portion of the warrant granted pursuant to the License Agreement. On December 13, 2017, the Company issued 119,950 shares of common stock to Ariel, representing 1% of the issued and outstanding shares of the Company on such date, and valued at $335,860. The right to the balance of the shares subject to the warrant remains subject to the terms of the License Agreement and the occurrence of an Exit Event (as described in the License Agreement). In addition, the Addendum provides that Ariel may not request a demand registration until the balance of the shares subject to the warrant is exercised.

In addition to the other payments, the Company will pay Ariel upon the occurrence of the following milestone events, additional payments which shall be due within 6 months of completion of the milestone:

-  Upon successful clinical FDA Phase II completion - $130,000; and  

-  Upon successful clinical FDA Phase III completion - $390,000

Upon successful development and commercialization and in recognition of the rights and licenses granted to the Company pursuant to the License Agreement, the Company will be subject to certain royalty payments as specified in the License Agreement.

During the year ended December 31, 2017, the Company incurred total research and development costs of $1,179,777, which amount includes the aforementioned value of 119,950 shares of common stock at $335,860 pursuant to the License Agreement, as well as $812,000 recorded as stock-based compensation in respect to certain stock awards discussed in Note 6 below granted to various members of the Company's scientific advisory board.

In lieu of extending the research financing and research period under the License Agreement with Ariel beyond the initial 12 months, on December 14, 2017, the Company entered into a 12-month services agreement with Ariel (the "Services Agreement") pursuant to which a team at Ariel University under the direction of Professor Danny Baranes will conduct molecular biology research activities involving the testing of scaffold materials for the Company. As compensation for such services, the Company paid Ariel (i) $17,250 on December 19, 2017 and   an additional $17,250 on April 26, 2018.  On April 12, 2018, the Services Agreement was amended to provide for the payment by the Company of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request.

On March 6, 2018, the Company entered into an additional service agreement with Ariel for the services of Professor Gadi Turgeman and his neurobiology research team in their labs area of neurologics pursuant to which the Company paid Ariel $20,580 on March 19, 2018 and will be required to pay $20,580 by August 21, 2018.

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Commitments

3 Months Ended

Mar. 31, 2018

Commitments [Abstract]

Commitments

Note 6 – Commitments

(1)   Service Agreement with Ariel - Prof. Danny Baranes

On December 14, 2017, the Company entered into a 12-month services agreement pursuant to which a team at Ariel  under the direction of Prof. Danny Baranes will conduct molecular biology research activities involving the testing of scaffold materials for the Company. As compensation for the services provided, the Company will pay Ariel (i) $17,250 within five business days of the execution of the Services Agreement, and (ii) $17,250 by May 1, 2018.

The Services Agreement may be terminated by the non-breaching party upon a material breach that is not cured within 30 days  or by the Company upon thirty days' prior written notice to Ariel. Ariel must keep confidential information of the Company confidential for five years after the term of the Services Agreement.

During the year ended December 31, 2017, $17,250 was paid of which $1,438 was expensed in fiscal year 2017 and $8,625 was expensed for three months period ended March 31, 2018, and the remaining $7,187 will be expensed in a subsequent period.

On April 12, 2018, the Services Agreement was amended to provide for the payment by the Company of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request. Further on April 26, 2018, the remaining installment of $17,250 was paid.

(2)   Service Agreement with Ariel - Dr. Gadi Turgeman

On March 6, 2018, the Company entered into a service agreement for the services of Professor Gadi Turgeman and his neurobiology research team in their labs. As compensation for the services provided, the Company will pay Ariel (i) $20,580 within five business days of the execution of the Services Agreement, and (ii) $20,580 by August 21, 2018.

The Services Agreement may be terminated by the non-breaching party upon a material breach that is not cured within 30 days or by the Company upon thirty days' prior written notice to Ariel. Ariel must keep confidential information of the Company confidential for six years after the term of the Services Agreement.

During the three months ended March 31, 2018, $20,580 was paid and recorded as prepaid expenses, of which $3,430 was expensed in three month period and the remaining $17,150 will be expensed in a subsequent period.

As part of its ongoing program of research and development, the Company has retained distinguished scientists and other qualified individuals to advise the Company with respect to its technology and business strategy and to assist it in the research, development and analysis of the Company's technology and products. In furtherance thereof, the Company has retained certain Advisors as members of its Scientific Advisory Board as described below, and the Company and Advisors have entered into agreements with the following terms and conditions:

- Scientific Advisory Board and Consulting Services - Advisor shall provide general consulting services to Company (the "Services") as a member of its Scientific Advisory Board ("SAB"). As a member of the SAB, Advisor agrees to provide the Services as follows: (a) attending meetings of the Company's SAB; (b) performing the duties of a SAB member at such meetings, as established from time to time by the mutual agreement of the Company and the SAB members, including without limitation meeting with Company employees, consultants and other SAB members, reviewing goals of the Company and assisting in developing strategies for achieving such goals, and providing advice, support, theories, techniques and improvements in the Company's scientific research and product development activities; and (c) providing consulting services to Company at its request, including a reasonable amount of informal consultation over the telephone or otherwise as requested by Company. Advisor's consultation with Company will involve services as scientific, technical and business advisor to the Company and its senior team as needed with respect to the field of neuronal injuries and neuro degenerative diseases ("the "Field") and requires the application of unique, special and extraordinary skills and knowledge that Advisor possesses in the Field.  

- SAB Consulting Compensation -  the Company shall grant to Advisor the option to purchase certain number of shares of the common stock of the Company as per the stock option award grant. The options are subject to terms and provisions of the Company's 2016 Stock Option and Stock Award Plan.

On November 15, 2017, the Company entered into Agreements with three Advisors under the terms of which two Advisors are granted the option under the 2016 Stock Option and Award Plan to purchase 20,000 shares of common stock under certain vesting terms and one Advisor under the 2016 Stock Option and Award Plan is granted an option to purchase 30,000 shares of common stock under certain vesting terms.

The Company recorded stock-based compensation in the amount of $29,000 in respect to these options grants during fiscal 2017 which amount has been allocated as advisory services as part of general and administrative expenses. ( Note 8 – Stock Plan)

(4)   Advisory Board Agreement

On January 23, 2018, the Company entered into a one-year advisory board member consulting agreement with Pavel Hilman, the controlling shareholder of Conventus Holdings SA, a BVI corporation ("Conventus"), under which Mr. Hilman will serve on the Company's Advisory Board as a business advisor. The Advisory Board Agreement will automatically renew for up to two additional one-year periods, unless earlier terminated by either party upon 30 days' prior written notice to the other party. In consideration for serving on the Advisory Board, the Company awarded 10,000 shares of its common stock to Mr. Hilman under its 2016 Stock Option and Stock Award Plan.

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Stock Plan

3 Months Ended

Mar. 31, 2018

Stock Plan [Abstract]

Stock Plan

Note 7 – Stock Plan

2016 Stock Option and Stock Award 

On December 14, 2016, the Board adopted the Company's 2016 Stock Option and Stock Award Plan (the "Plan"). The Plan provides for the award of stock options (incentive and non-qualified), stock awards and stock appreciation rights to officers, directors, employees and consultants who provide services to the Company. The terms of awards under the Plan are made by the Administrator of the Plan appointed by the Company's Board of Directors (the "Board"), or in the absence of an Administrator, by the Board. The Company has reserved 10 million shares for issuance under the Plan.

Stock Award:

On December 14, 2016, the Board awarded to each of its Science Advisors, Prof. Danny Baranes and Dr. Liat Hammer, a total of 440,000 shares of common stock of which 150,000 shares vested on December 14, 2016, 145,000 shares vested on December 14, 2017, and 145,000 shares will vest on December 14, 2018, provided such advisors are still providing services to the Company.

The value of the vested awards had been recorded as research and development expenses in the respective periods.  A total of 290,000 stock awards are expected to vest during fiscal 2018.

On January 23, 2018, the Company awarded 10,000 shares of its common stock to Mr. Hilman under its 2016 Stock Option and Stock Award Plan.

	For the three months ended March 31,		For years ended December 31,
	2018		2017		2016
Number of shares issued		10,000		290,000		300,000
Fair market value per share	$	2.80	$	2.80	$	0.1867
Stock based compensation recognized	$	28,000	$	812,000	$	56,000

Stock Options:

(a)   Stock Options granted to Science Advisors:

On November 15, 2017, under the 2016 Stock Option and Award Plan , the Board awarded two of its Science Advisors the following three-year stock options: (i) an immediately exercisable option to purchase 6,667 shares of common stock at an exercise price of $2.00 per share, (ii) an option to purchase 6,667 shares of common stock exercisable on November 15, 2018 at an exercise price of $2.00 per share and (iii) an option to purchase 6,666 shares of common stock exercisable on November 15, 2019 at an exercise price of $2.00 per share, provided the advisors are still providing services to the Company.

On November 15, 2017, under the 2016 Stock Option and Award Plan , the Board awarded a Science Advisor, the following three-year stock options: (i) an option to purchase 15,000 shares of common stock, exercisable on November 15, 2018 at an exercise price of $0.40 per share and (ii) an option to purchase 15,000 shares of common stock exercisable on November 15, 2019 at an exercise price of $0.40 per share, provided the advisor is still providing services to the Company.

During the year ended December 31, 2017, total recognized compensation in respect of the above stock option compensation was $29,000, which amount has been allocated as advisory services as part of general and administrative expenses.

During the three months ended March 31, 2018, total recognized compensation in respect of the above stock option compensation was $27,975, which amount has been allocated as advisory services as part of general and administrative expenses.

As of March 31, 2018, total unrecognized compensation remaining to be recognized in future periods totaled $107,255.

(b)   Stock Options granted to Officers:

On December 4, 2017, the Board granted five-year option awards to each of its two officers for the purchase of 300,000 shares of the common stock of the Company. Option awards are granted with an exercise price of $2 at the date of grant; and vest on December 4, 2018, expiring on December 4, 2022.

During the year ended December 31, 2017, total recognized compensation of $106,029 was recorded as general and administrative expenses.

During the three months ended March 31, 2018, total recognized compensation of $353,430 was recorded as general and administrative expenses.

As of March 31, 2018, total unrecognized compensation remaining to be recognized in future periods totaled $954,261.

The fair value of each option award above is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions at the measurement date(s):

	Measurement date
Dividend yield		0%
Expected volatility		114.69 ~ 126.34%
Risk-free interest rate		1.79% ~ 2.15%
Expected life (years)		3 ~ 5
Stock Price	$	2.80
Exercise Price	$	0.40 ~ 2.00

A summary of the activity for the Company's stock options for the period ended March 31, 2018 and for the year ended December 31, 2017, is as follows:

	March 31, 2018				December 31, 2017
			Weighted Average				Weighted Average
	Shares		Exercise Price		Shares		Exercise Price
Outstanding, beginning of period		670,000	$	1.93		-	$	-
Granted		-	$	-		670,000	$	1.93
Exercised		-	$	-		-	$	-
Canceled		-	$	-		-	$	-
Outstanding, end of period		670,000	$	1.93		670,000	$	1.93
Options exercisable, end of period		13,334	$	2.00		13,334	$	2.00
Options expected to vest, end of period		656,666	$	1.89		656,666	$	1.89
Weighted average fair value of options granted			$	2.36			$	2.36

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Capital Stock

3 Months Ended

Mar. 31, 2018

Capital Stock [Abstract]

Capital Stock

Note 8 – Capital Stock

Authorized:

The Company has authorized 100,000,000 shares of common stock, $0.0001 par value and 10,000 shares of a class of preferred stock called the "Series A Preferred Stock", par value $0.001.

Series A Preferred Stock:

Each share of Series A Preferred Stock has a stated value of $1 per share and accrues 4% per annum for determination of liquidation, conversion or redemption. The shares convert at the option of the holder into shares of common stock at the market value of the common stock. The Series A Preferred Stock vote as a single class and maintain 66 2/3% of the total votes as long as any shares of Series A Preferred Stock remain outstanding. The Series A Preferred Stock contains liquidation preference (senior rank to all common) and are not to be amended without the holders' approval.

At inception on August 22, 2016, the Company approved the issuance of 1,000 shares of Series A Preferred Stock at par value to Jonah Meer, the Company's Chief Executive Officer, Chief Financial Officer and Secretary, for cash $1 was paid for the Series A Preferred Stock.

Common Stock issuances during the three months ended March 31, 2018:

On January 23, 2018 the Company sold 312,500 shares of its common stock to Conventus and raised $500,000 pursuant to a subscription agreement in a private placement offering. The proceeds of the offering will be used for research and general corporate purposes.

On January 23, 2018, the Company issued 10,000 shares for advisory services (Note 6(4)).

On February 6, 2018, the Company received a warrant exercise notice in respect of 2,000 warrants from a subscriber and issued 1,715 shares of common stock on a cashless exercise basis as per the cashless exercise formula contained in the warrant.

Common Stock issuances as of December 31, 2017:

On December 13, 2017, 119,950 shares were issued to Ariel as an exercise of warrants pursuant to a License Agreement (Note 5 – License and Research Funding Agreement). These shares were valued at $335,860 or $2.80 per share, based on fair market value, and the associated cost was recorded as research and development expenses.

On December 14, 2017, the Company issued 290,000 shares to two Scientific Advisors as a stock award, valued at $812,000, or $2.80 per share, based on fair market value, and recorded the associated cost as research and development expenses. (Note 8 – Stock Plan).

During the year ended December 31, 2017, the Company received aggregate proceeds of $32,000 in private placement subscriptions for a total of 128,000 shares.

During the year ended December 31, 2017 the Company received warrant exercise notices in respect of 512,000 warrants from various subscribers and issued a total of 442,960 shares of common stock on a cashless exercise basis as per the cashless exercise formula in the warrant.

Share Purchase Warrants

In accordance with authoritative accounting guidance, the fair value of the aforementioned warrants was calculated using the Black-Scholes option-pricing model with the following assumptions at the measurement date(s):

	Measurement date
Dividend yield		0%
Expected volatility		97.90~119.33%
Risk-free interest rate		1.47~1.60%
Expected life (years)		2.71~2.92
Stock Price	$	0.25
Exercise Price	$	0.40

As of March 31, 2018, and December 31, 2017, the following common stock purchase warrants were outstanding:

	Warrants (1)			Weighted Average Exercise Price
Outstanding – December 31, 2016		502,000		$	0.40
Granted		64,000			0.40
Forfeited/Canceled		-			-
Exercised		512,000	(2)		0.40
Outstanding – December 31, 2017		54,000			0.40
Granted		-			-
Forfeited/Canceled		-			-
Exercised		2,000	(3)		0.40
Outstanding – March 31, 2018		52,000		$	0.40

(1) Each two shares of common stock purchased under the private placement provides for one warrant to acquire an additional share of common stock together with the payment of $0.40.

(2) During the year ended December 31, 2017, investors exercised 512,000 share purchase warrants and received 442,960 underlying shares for exercise on a cashless basis.

(3) During the three-month period ended March 31, 2018, investors exercised 2,000 share purchase warrants and received 1,715 underlying shares for exercise on a cashless basis.

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Subsequent Events

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

Note 9 – Subsequent Events

On April 12, 2018, the Company amended its services agreement, dated December 12, 2017 with Ariel Scientific Innovations Ltd. The Amendment provides for the payment of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request. All other terms and conditions of the Services Agreement remain in effect.

On April 16, 2018, the Company entered into a one-year advisory board member consulting agreement  with Chenfeng Ke, Assistant Professor of Chemistry at of Dartmouth College, pursuant to which Professor Ke will serve on the Company's Scientific Advisory Board. In consideration for serving on the Scientific Advisory Board, the Company granted an option to purchase 30,000 shares of its common stock to Professor Ke.

On April 23, 2018, the Company entered into a six-month investment relations agreement with an investor relations firm for a monthly consulting fee of $5,000 and issued 75,000 shares of its common stock  as commitment shares for agreeing to enter into such agreement.

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Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Financial Statement Presentation

Financial Statement Presentation: The unaudited condensed financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").

Fiscal year end

Fiscal year end: The Company has selected December 31 as its fiscal year end.

Use of Estimates

Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported therein. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from these estimates.

Cash Equivalents

Cash Equivalents: The Company considers all highly liquid investments with maturities of 90 days or less from the date of purchase to be cash equivalents.

Research and Development Costs

Research and Development Costs: The Company charges research and development costs to expense when incurred in accordance with FASB ASC 730, "Research and Development". Research and development costs were $40,897 and $776 for the three months period ended March 31, 2018 and March 31, 2017, respectively.

Advertising and Marketing Costs

Advertising and Marketing Costs: Advertising and marketing costs are expensed as incurred. The Company incurred $5,000  in advertising and marketing costs during the three months ended March 31, 2018 and incurred no advertising and marketing costs during the three months ended March 31, 2017.

Related parties

Related parties: For the purposes of these financial statements, parties are considered to be related if one party has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities.

Stock-Based Compensation and Other Share-Based Payments

Stock-Based Compensation and Other Share-Based Payments: The expense attributable to the Company's Directors is recognized over the period the amounts are earned and vested, and the expense attributable to the Company's non-employees is recognized when vested, as described in Note 7, Stock Plan.

Fair Value of Financial Instruments

Fair Value of Financial Instruments

FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. FASB ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. FASB ASC 820 describes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level of input that is significant to the fair value measurement of the instrument.

The following table provides a summary of the fair value of our derivative liabilities as of March 31, 2018 and December 31, 2017:

	Fair value measurements on a recurring basis
	Level 1		Level 2		Level 3
As of March 31, 2018:
Liabilities
Derivative liabilities	$	-	$	-	$	29,074
As of December 31, 2017:
Liabilities
Derivative liabilities	$	-	$	-	$	31,090

Warrants

Warrants: The Company accounts for common stock warrants in accordance with applicable accounting guidance provided in ASC Topic 815 "Derivatives and Hedging – Contracts in Entity's Own Equity" (ASC Topic 815), as either derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement.  For warrants classified as equity instruments we apply the Black Scholes model.   Presently all warrants issued and outstanding are accounted for using the equity method.

Income taxes

Income taxes: The Company has adopted ASC Topic 740 – "Income Taxes" ASC Topic 740 requires the use of the asset and liability method of accounting for income taxes. Under the asset and liability method of ASC Topic 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

Basic and Diluted Loss Per Share

Basic and Diluted Loss Per Share: In accordance with ASC Topic 280 – "Earnings Per Share", the basic loss per common share is computed by dividing net loss available to common stockholders by the weighted average number of common stock outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock had been issued and if the additional shares of common stock were dilutive.

Potential common stock consists of the incremental common stock issuable upon the exercise of common stock warrants (using the if-converted method), convertible notes, classes of shares with conversion features, and stock awards and stock options. The computation of basic loss per share for the three-month periods ended March 31, 2018 and 2017 excludes potentially dilutive securities of underlying share purchase warrants, convertible notes, stock options and preferred shares, because their inclusion would be antidilutive. As a result, the computations of net loss per share for each period presented is the same for both basic and fully diluted.

In The table below reflects the potentially dilutive securities at each reporting period which have been excluded from the computation of diluted net loss per share:

	March 31, 2018		March 31, 2017
Stock purchase warrants		52,000		562,000
Research Warrants at 3% of issued and outstanding shares		381,874		-
Convertible Notes		26,906		-
Series A Preferred shares		700		-
Stock options, vested		13,334		-
Stock options, not yet vested		656,666		-
Stock awards, not yet vested		290,000		-
		1,421,480		562,000

New Accounting Pronouncements

New Accounting Pronouncements: There were various accounting standards and interpretations issued recently, none of which are expected to have a material effect on the Company's operations, financial position or cash flows.

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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Schedule of fair value of derivative liabilitie measurements on recurring basis

	Fair value measurements on a recurring basis
	Level 1		Level 2		Level 3
As of March 31, 2018:
Liabilities
Derivative liabilities	$	-	$	-	$	29,074
As of December 31, 2017:
Liabilities
Derivative liabilities	$	-	$	-	$	31,090

Schedule of potentially dilutive securities

	March 31, 2018		March 31, 2017
Stock purchase warrants		52,000		562,000
Research Warrants at 3% of issued and outstanding shares		381,874		-
Convertible Notes		26,906		-
Series A Preferred shares		700		-
Stock options, vested		13,334		-
Stock options, not yet vested		656,666		-
Stock awards, not yet vested		290,000		-
		1,421,480		562,000

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Convertible Note - Related Party and Derivative Liabilities (Tables)

3 Months Ended

Mar. 31, 2018

Convertible Note - Related Party and Derivative Liabilities [Abstract]

Schedule of convertible notes

	March 31, 2018			December 31, 2017
Face value of certain convertible notes	$	25,000		$	25,000
Less: unamortized discount		(11,973	)		(18,335	)
Carrying value	$	13,027		$	6,665

Schedule of fair value of conversion feature

Balance at December 31, 2017	$	31,090
Derivative addition associated with convertible notes		-
Loss on change in fair value		(2,016	)
Balance at March 31, 2018	$	29,074

Schedule of fair value at commitment and re-measurement dates derivative liabilities

	Commitment Date		March 31, 2018		December 31, 2017
Expected dividends		0		0		0
Expected volatility	101% ~103%		95% ~ 102%		110% ~ 115%
Expected term	0.92 ~ 1 year		0.42 ~0.49 year		0.67 ~0.74 year
Risk free interest rate		1.33%		1.93%	1.53% ~ 1.65%

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Stock Plan (Tables)

3 Months Ended

Mar. 31, 2018

Stock Plan [Abstract]

Schedule of stock award

	For the three months ended March 31,		For years ended December 31,
	2018		2017		2016
Number of shares issued		10,000		290,000		300,000
Fair market value per share	$	2.80	$	2.80	$	0.1867
Stock based compensation recognized	$	28,000	$	812,000	$	56,000

Schedule of fair value options assumptions

	Measurement date
Dividend yield		0%
Expected volatility		114.69 ~ 126.34%
Risk-free interest rate		1.79% ~ 2.15%
Expected life (years)		3 ~ 5
Stock Price	$	2.80
Exercise Price	$	0.40 ~ 2.00

Schedule of stock options

	March 31, 2018				December 31, 2017
			Weighted Average				Weighted Average
	Shares		Exercise Price		Shares		Exercise Price
Outstanding, beginning of period		670,000	$	1.93		-	$	-
Granted		-	$	-		670,000	$	1.93
Exercised		-	$	-		-	$	-
Canceled		-	$	-		-	$	-
Outstanding, end of period		670,000	$	1.93		670,000	$	1.93
Options exercisable, end of period		13,334	$	2.00		13,334	$	2.00
Options expected to vest, end of period		656,666	$	1.89		656,666	$	1.89
Weighted average fair value of options granted			$	2.36			$	2.36

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Capital Stock (Tables)

3 Months Ended

Mar. 31, 2018

Capital Stock [Abstract]

Schedule of fair value warrants assumptions

	Measurement date
Dividend yield		0%
Expected volatility		97.90~119.33%
Risk-free interest rate		1.47~1.60%
Expected life (years)		2.71~2.92
Stock Price	$	0.25
Exercise Price	$	0.40

Schedule of common stock purchase warrants were outstanding

	Warrants (1)			Weighted Average Exercise Price
Outstanding – December 31, 2016		502,000		$	0.40
Granted		64,000			0.40
Forfeited/Canceled		-			-
Exercised		512,000	(2)		0.40
Outstanding – December 31, 2017		54,000			0.40
Granted		-			-
Forfeited/Canceled		-			-
Exercised		2,000	(3)		0.40
Outstanding – March 31, 2018		52,000		$	0.40

(1) Each two shares of common stock purchased under the private placement provides for one warrant to acquire an additional share of common stock together with the payment of $0.40.

(2) During the year ended December 31, 2017, investors exercised 512,000 share purchase warrants and received 442,960 underlying shares for exercise on a cashless basis.

(3) During the three-month period ended March 31, 2018, investors exercised 2,000 share purchase warrants and received 1,715 underlying shares for exercise on a cashless basis.

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Summary of Significant Accounting Policies (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Level 1 [Member]
Liabilities
Derivative liabilities
Level 2 [Member]
Liabilities
Derivative liabilities
Level 3 [Member]
Liabilities
Derivative liabilities	$ 29,074	$ 31,090

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Summary of Significant Accounting Policies (Details 1) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	1,421,480	562,000
Stock options, vested
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	13,334
Stock options, not yet vested [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	656,666
Stock awards, not yet vested [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	290,000
Series A Preferred shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	700
Stock purchase warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	52,000	562,000
Convertible Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	26,906
Research Warrrants at 3% of issued and outstanding shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities net loss per share	381,874

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Summary of Significant Accounting Policies (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Summary of Significant Accounting Policies (Textual)
Research and development costs	$ 40,897	$ 776
Advertising or marketing costs	$ 5,000
Research warrants issued and outstanding, percentage	3.00%

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Convertible Note - Related Party and Derivative Liabilities (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Convertible Note - Related Party and Derivative Liabilities [Abstract]
Face value of certain convertible notes	$ 25,000	$ 25,000
Less: unamortized discount	(11,973)	(18,335)
Carrying value	$ 13,027	$ 6,665

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Convertible Note - Related Party and Derivative Liabilities (Details 1)	3 Months Ended
	Mar. 31, 2018 USD ($)
Convertible Note - Related Party and Derivative Liabilities [Abstract]
Balance at December 31, 2016	$ 31,090
Derivative addition associated with convertible notes
Loss on change in fair value	(2,016)
Balance at December 31, 2017	$ 29,074

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Convertible Note - Related Party and Derivative Liabilities (Details 2)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Expected dividends	0.00%	0.00%
Risk free interest rate	1.93%
Commitment Date [Member]
Derivative [Line Items]
Expected dividends	0.00%
Risk free interest rate	1.33%
Minimum [Member]
Derivative [Line Items]
Expected volatility	95.00%	110.00%
Expected term	5 months 1 day	8 months 2 days
Risk free interest rate		1.53%
Minimum [Member] | Commitment Date [Member]
Derivative [Line Items]
Expected volatility	101.00%
Expected term	11 months 1 day
Maximum [Member]
Derivative [Line Items]
Expected volatility	102.00%	115.00%
Expected term	5 months 27 days	8 months 26 days
Risk free interest rate		1.65%
Maximum [Member] | Commitment Date [Member]
Derivative [Line Items]
Expected volatility	103.00%
Expected term	1 year

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Convertible Note - Related Party and Derivative Liabilities (Details Textual) - USD ($)		1 Months Ended	3 Months Ended
	Sep. 27, 2017	Sep. 01, 2016	Mar. 31, 2018	Mar. 31, 2017
Convertible Note - Related Party and Derivative Liabilities (Textual)
Received proceeds totaling
Amortization of discount			$ 6,362	$ 2,500
CubeSquare, LLC [Member]
Convertible Note - Related Party and Derivative Liabilities (Textual)
Received proceeds totaling	$ 15,000	$ 10,000
Interest rate per annum	8.00%	8.00%
Conversion, description	Any portion of the principal and unpaid interest under the note is convertible at any time at the option of CubeSquare into shares of common stock of the Company at a conversion price equal to a 50% discount to the average of the five lowest trading prices during the previous twenty trading days prior to the date of the notice of conversion from CubeSquare.	(i) $0.0625 per share if the Company's shares are not trading on a public market and; (ii) in the event the Company's shares are listed for trading on a public market, the conversion price shall be equal to a 50% discount to the average of the five lowest trading prices during the previous twenty trading days prior to the date of the notice of conversion from the lender.
Maturity date		Sep. 01, 2017
Maturity date, description	Note 1 to extend the maturity date of the note from September 1, 2017 to September 1, 2018 under the same terms and conditions.
CubeSquare, LLC [Member] | President [Member]
Convertible Note - Related Party and Derivative Liabilities (Textual)
Ownership percentage		25.00%

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License and Research Funding Agreements (Details) - USD ($)

3 Months Ended

12 Months Ended

Mar. 06, 2018

Dec. 13, 2017

Dec. 14, 2016

Mar. 31, 2018

Mar. 31, 2017

Dec. 31, 2017

License and Research Funding Agreements (Textual)

Research and development costs

$ 40,897

$ 776

License and research funding agreement compensation paid, description

The Company entered into an additional service agreement with Ariel for the services of Professor Gadi Turgeman and his neurobiology research team in their labs area of neurologics pursuant to which the Company paid Ariel $20,580 on March 19, 2018 and will be required to pay $20,580 by August 21, 2018.

The Company paid Ariel (i) $17,250 on December 19, 2017 and an additional $17,250 on April 26, 2018. On April 12, 2018, the Services Agreement was amended to provide for the payment by the Company of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request.

Ariel University [Member]

License and Research Funding Agreements (Textual)

Shares issued for advisory services

119,950

Shares issued, value

$ 335,860

Shares issued, percentage

1.00%

License Agreement [Member]

License and Research Funding Agreements (Textual)

Total amount of fund for research during research period

$ 100,000

Warrant exercisable percentage

4.00%

Payments of completion of milestone events, description

·  Upon successful clinical FDA Phase II completion - $130,000; and

·  Upon successful clinical FDA Phase III completion - $390,000

Research and development costs

$ 1,179,777

Aforementioned funding amount

119,950

Stock based compensation

812,000

Payments of completion of milestone events due

6 months

Shares issued, value

$ 335,860

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Commitments (Details) - USD ($)			1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 12, 2018	Jan. 23, 2018	Nov. 15, 2017	Mar. 31, 2018	Dec. 31, 2017	May 01, 2018	Mar. 06, 2018	Dec. 14, 2017
Commitments (Textual)
Compensation for the services provided					$ 17,250
Compensation cost					1,438
Expensed in subsequent payment				$ 31,893	15,812
Prepaid expenses				20,580
Prepaid expensed during period				3,430
Outstanding expenses				17,150
Service Agreement With Ariel [Member]
Commitments (Textual)
Compensation for the services provided							$ 20,580	$ 17,250
Compensation cost				8,625	$ 7,187
Expensed in subsequent payment				$ 7,187			$ 20,580
2016 Stock Option and Award Plan [Member]
Commitments (Textual)
Advisors are granted the option		10,000	20,000
Stock option and award plan is granted			30,000
Stock based compensation			$ 29,000
Subsequent Events [Member]
Commitments (Textual)
Compensation for the services provided						$ 17,250
Service agreement payment, description	The Company of an additional monthly fee, commencing March 2018, of up to 8,000 Israeli shekels as compensation for additional costs which the Company may request. Further on April 26, 2018, the remaining installment of $17,250 was paid.

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Stock Plan (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock Plan [Abstract]
Number of shares issued	10,000	290,000	300,000
Fair market value per share	$ 2.80	$ 2.80	$ 0.1867
Stock based compensation recognized	$ 28,000	$ 812,000	$ 56,000

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Stock Plan (Details 1) - Stock Options [Member] - Measurement date [Member]	3 Months Ended
	Mar. 31, 2018 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Stock Price	$ 2.80
Exercise Price, Minimum	0.40
Exercise Price, Maximum	$ 2.00
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	114.69%
Risk-free interest rate	1.79%
Expected life (years)	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	126.34%
Risk-free interest rate	2.15%
Expected life (years)	5 years

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Stock Plan (Details 2) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Stock Plan [Abstract]
Shares Outstanding, beginning of period	670,000
Shares, Granted		670,000
Shares, Exercised
Shares, Canceled
Shares Outstanding, end of period	670,000	670,000
Shares Options exercisable, end of period	13,334	13,334
Shares, Options expected to vest, end of period	656,666	656,666
Weighted Average Shares Exercise Price, Outstanding, beginning of period	$ 1.93
Weighted Average Shares Exercise Price, Granted		1.93
Weighted Average Shares Exercise Price, Exercised
Weighted Average Exercise Price, Canceled
Weighted Average Shares Exercise Price, Outstanding, end of period	1.93	1.93
Weighted Average Exercise Price, Options exercisable, end of period	2.00	2.00
Weighted Average Exercise Price, Options expected to vest, end of period	1.89	1.89
Weighted Average Exercise Price, Weighted average fair value of options granted	$ 2.36	$ 2.36

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Stock Plan (Details Textual) - USD ($)				1 Months Ended	3 Months Ended		12 Months Ended
	Dec. 14, 2017	Dec. 04, 2017	Dec. 14, 2016	Nov. 15, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Jan. 23, 2018
Stock Plan (Textual)
Stock purchase warrants					1,421,480	562,000
Stock option vested and recorded as consulting fees							$ 29,000
Total unrecognized compensation remaining to be recognized in future periods					$ 107,255
Shares issued upon grant date							670,000
Stock options granted and recorded as administrative expenses and advisory services					$ 381,405
General and administrative expenses							$ 106,029
2016 Stock Option and Award Plan [Member]
Stock Plan (Textual)
Reserved shares for issuance			10,000,000
Stock award									10,000
Description of services agreement				Under the 2016 Stock Option and Award Plan , the Board awarded two of its Science Advisors the following three-year stock options: (i) an immediately exercisable option to purchase 6,667 shares of common stock at an exercise price of $2.00 per share, (ii) an option to purchase 6,667 shares of common stock exercisable on November 15, 2018 at an exercise price of $2.00 per share and (iii) an option to purchase 6,666 shares of common stock exercisable on November 15, 2019 at an exercise price of $2.00 per share, provided the advisors are still providing services to the Company.
Stock options granted and recorded as administrative expenses and advisory services					27,975
2016 Stock Option and Award Plan one [Member]
Stock Plan (Textual)
Description of services agreement				Under the 2016 Stock Option and Award Plan , the Board awarded a Science Advisor, the following three-year stock options: (i) an option to purchase 15,000 shares of common stock, exercisable on November 15, 2018 at an exercise price of $0.40 per share and (ii) an option to purchase 15,000 shares of common stock exercisable on on November 15, 2019 at an exercise price of $0.40 per share, provided the advisor is still providing services to the Company.
Total unrecognized compensation remaining to be recognized in future periods					954,261
Stock options granted and recorded as administrative expenses and advisory services					$ 353,430
Board of Directors Chairman [Member]
Stock Plan (Textual)
Stock award			440,000
Receive common stock vest upon grant date			150,000
Vested shares	145,000		145,000
Weighted average exercise pric		$ 2
Shares of common stock under certain vesting terms		5 years
Grant date		Dec. 04, 2022
Board of Directors Chairman [Member] | December 14, 2018 [Member]
Stock Plan (Textual)
Vested shares					145,000
Stock awards, not yet vested [Member]
Stock Plan (Textual)
Stock purchase warrants					290,000

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Capital Stock (Details) - Measurement date [Member] - Stock Purchase Warrants [Member]	3 Months Ended
	Mar. 31, 2018 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%
Stock Price	$ 0.25
Exercise Price	$ 0.40
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	119.33%
Risk-free interest rate	1.60%
Expected life (years)	2 years 11 months 1 day
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	97.90%
Risk-free interest rate	1.47%
Expected life (years)	2 years 8 months 16 days

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Capital Stock (Details 1) - Stock Purchase Warrants [Member] - $ / shares		3 Months Ended		12 Months Ended
		Mar. 31, 2018		Dec. 31, 2017
Warrants
Outstanding - Beginning balance	[1]	54,000		502,000
Granted	[1]			64,000
Forfeited/Canceled	[1]
Exercised	[1]	2,000	[2]	512,000	[3]
Outstanding - Ending balance	[1]	52,000		54,000
Weighted Average Exercise Price
Outstanding - Beginning balance		$ 0.40		$ 0.40
Granted				0.40
Forfeited/Canceled
Exercised		0.40		0.40
Outstanding - Ending balance		$ 0.40		$ 0.40

[1] Each two shares of common stock purchased under the private placement provides for one warrant to acquire an additional share of common stock together with the payment of $0.40.

[2] During the three-month period ended March 31, 2018, investors exercised 2,000 share purchase warrants and received 1,715 underlying shares for exercise on a cashless basis.

[3] During the year ended December 31, 2017, investors exercised 512,000 share purchase warrants and received 442,960 underlying shares for exercise on a cashless basis.

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Capital Stock (Details Textual) - USD ($)								3 Months Ended			12 Months Ended
		Feb. 06, 2018	Jan. 23, 2018	Dec. 14, 2017	Dec. 13, 2017	Dec. 04, 2017	Dec. 14, 2016	Mar. 31, 2018		Aug. 22, 2016	Dec. 31, 2017
Capital Stock (Textual)
Common stock, shares authorized								100,000,000			100,000,000
Common stock, par value								$ 0.0001			$ 0.0001
Common stock issued								12,729,125			12,404,910
Common stock shares, outstanding								12,729,125			12,404,910
Preferred stock, shares issued								2,000			2,000
Preferred stock, shares authorized								10,000			10,000
Preferred stock, par value								$ 0.001			$ 0.001
General and administrative expenses											$ 106,029
Subscriptions shares											128,000
Shares issued upon grant date											670,000
Grant exercise price								$ 1.89			$ 1.89
Warrant, description		The Company received a warrant exercise notice in respect of 2,000 warrants from a subscriber and issued 1,715 shares of common stock on a cashless exercise basis as per the cashless exercise formula contained in the warrant.
Warrants received underlying shares for exercise on a cashless basis											442,960
Stock options granted, terms						The Board granted five-year option awards to each of its two officers for the purchase of 300,000 shares of the common stock of the Company. Option awards are granted with an exercise price of $2 at the date of grant; and vest on December 4, 2018, expiring on December 4, 2022.
License Agreement Terms [Member]
Capital Stock (Textual)
Share issued for agreement					119,950
Conversion value					$ 335,860
Conversion of stock par value					$ 2.80
Investors [Member]
Capital Stock (Textual)
Warrant exercise								2,000
Warrants received underlying shares for exercise on a cashless basis								1,715
Board of Directors [Member]
Capital Stock (Textual)
Stock award							440,000
Vested shares				145,000			145,000
Grant date						Dec. 04, 2022
Receive common stock vest upon grant date							150,000
Scientific Advisors [Member]
Capital Stock (Textual)
Share issued for agreement				290,000
Conversion value				$ 812,000
Conversion of stock par value				$ 2.80
Private Placement [Member]
Capital Stock (Textual)
Shares issued for advisory services			10,000
Sale and issuance of common stock			312,500
Total proceeds of subscriptions amount			$ 500,000								$ 32,000
Warrant [Member]
Capital Stock (Textual)
Warrant exercise	[2]							2,000	[1]		512,000	[3]
Series A Preferred Stock [Member]
Capital Stock (Textual)
Preferred stock, conversion basis, description								Each share of Series A Preferred Stock has a stated value of $1 per share and accrues 4% per annum for determination of liquidation, conversion or redemption. The shares convert at the option of the holder into shares of common stock at the market value of the common stock. The Series A Preferred Stock vote as a single class and maintain 66 2/3% of the total votes as long as any shares of Series A Preferred Stock remain outstanding.
Series A Preferred Stock [Member] | Jonah Meer [Member]
Capital Stock (Textual)
Preferred stock, shares issued										1,000
Cash paid										$ 1

[1] During the three-month period ended March 31, 2018, investors exercised 2,000 share purchase warrants and received 1,715 underlying shares for exercise on a cashless basis.

[2] Each two shares of common stock purchased under the private placement provides for one warrant to acquire an additional share of common stock together with the payment of $0.40.

[3] During the year ended December 31, 2017, investors exercised 512,000 share purchase warrants and received 442,960 underlying shares for exercise on a cashless basis.

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Subsequent Events (Details) - Subsequent Events [Member]	Apr. 23, 2018 USD ($) shares	Apr. 16, 2018 shares	Apr. 12, 2018 ILS (₪)
Services Agreement [Member]
Subsequent Events (Textual)
Compensation expenses | ₪			₪ 8,000
Advisory Board Member Consulting Agreement [Member]
Subsequent Events (Textual)
Term of agreement		1 year
Options granted to purchase of common stock		30,000
Investment Relations Agreement [Member]
Subsequent Events (Textual)
Term of agreement	6 months
Payments to investors | $	$ 5,000
Common stock shares issued	75,000