10-Q Filing

APPLIED BIOSCIENCES CORP. CIK: 1607549 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001477932-18-004007`
Period End Date	20180630
Filing Date	20180814
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	appb-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 30 Cash Flow Statement 46 Stockholders Equity 12

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance	`AccountsReceivableNet`	$724.00	USD	Point-in-time
Accounts receivable, net of allowance	`AccountsReceivableNet`	$2.23K	USD	Point-in-time
Cash	`Cash`	$60.93K	USD	Point-in-time
Cash	`Cash`	$3.40K	USD	Point-in-time
Cash	`Cash`	$212.64K	USD	Point-in-time
Cash	`Cash`	$101.25K	USD	Point-in-time
Accounts receivable, net of allowance of $724 and $2,227 at June 30, 2018 (unaudited) and March 31, 2018, respectively	`AccountsReceivableNetCurrent`	$13.80K	USD	Point-in-time
Accounts receivable, net of allowance of $724 and $2,227 at June 30, 2018 (unaudited) and March 31, 2018, respectively	`AccountsReceivableNetCurrent`	$12.39K	USD	Point-in-time
Convertible note payable net of debt discount	`ConvertibleNotesPayable`	$26.91K	USD	Point-in-time
Inventory	`InventoryNet`	$54.39K	USD	Point-in-time
Inventory	`InventoryNet`	$29.07K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaids and other current assets	`OtherPrepaidExpenseCurrent`	$97.85K	USD	Point-in-time
Prepaids and other current assets	`OtherPrepaidExpenseCurrent`	$124.45K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$169.45K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$226.85K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.44K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.15K	USD	Point-in-time
Equity investments	`EquityMethodInvestments`	$627.47K	USD	Point-in-time
Equity investments	`EquityMethodInvestments`	$468.54K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other asset	`OtherAssetsNoncurrent`	$5.50K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other asset	`OtherAssetsNoncurrent`	$5.50K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$705.33K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$806.56K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	10.50M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	10.66M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	10.66M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	10.50M	shares	Point-in-time
Common stock shares to be issued	`CommonStockSharesToBeIssued`	200,000.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.05K	USD	Point-in-time
Common stock shares to be issued	`CommonStockSharesToBeIssued`	272,640.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.85K	USD	Point-in-time
Convertible note payable, net of debt discount of $26,906 at June 30, 2018	`ConvertibleNotesPayableCurrent`	$2.59K	USD	Point-in-time
Convertible note payable, net of debt discount of $26,906 at June 30, 2018	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$120.60K	USD	Point-in-time
Accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$14.04K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$35.88K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$158.24K	USD	Point-in-time
Preferred stock; $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding at June 30, 2018 (unaudited) and March 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding at June 30, 2018 (unaudited) and March 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.00001 par value; 200,000,000 shares authorized; 10,664,610 and 10,499,610 issued and outstanding at June 30, 2018 (unaudited) and March 31, 2018, respectively	`CommonStockValue`	$105.00	USD	Point-in-time
Common stock; $0.00001 par value; 200,000,000 shares authorized; 10,664,610 and 10,499,610 issued and outstanding at June 30, 2018 (unaudited) and March 31, 2018, respectively	`CommonStockValue`	$107.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.41M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.05M	USD	Point-in-time
Common stock to be issued, 272,640 and 200,000 shares at June 30, 2018 (unaudited) and March 31, 2018, respectively	`CommonStockToBeIssued238000And263000SharesAtJune302018UnauditedAndMarch312018Respectively`	$546.93K	USD	Point-in-time
Common stock to be issued, 272,640 and 200,000 shares at June 30, 2018 (unaudited) and March 31, 2018, respectively	`CommonStockToBeIssued238000And263000SharesAtJune302018UnauditedAndMarch312018Respectively`	$526.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.90M	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$678.47K	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$663.60K	USD	Point-in-time
Non-controlling deficit	`MinorityInterest`	$-15.28K	USD	Point-in-time
Non-controlling deficit	`MinorityInterest`	$-9.03K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$648.32K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$669.44K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$806.56K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$705.33K	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
PRODUCT REVENUE, NET	`SalesRevenueGoodsNet`	$55.33K	USD	1 Quarter
PRODUCT REVENUE, NET	`SalesRevenueGoodsNet`	$10.43K	USD	1 Quarter
COST OF REVENUE, PRODUCT	`CostOfRevenue`	$37.95K	USD	1 Quarter
COST OF REVENUE, PRODUCT	`CostOfRevenue`	$17.76K	USD	1 Quarter
GROSS (LOSS) MARGIN	`GrossProfit`	$17.39K	USD	1 Quarter
GROSS (LOSS) MARGIN	`GrossProfit`	$-7.32K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$344.04K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$19.57K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$207.15K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$138.90K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$56.13K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$293.00	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$214.59K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$551.48K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-197.20K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-558.81K	USD	1 Quarter
Unrecognized gain on equity investments	`UnrealizedGainLossOnInvestments`	$158.93K	USD	1 Quarter
Unrecognized gain on equity investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	$1.88K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-197.20K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-401.76K	USD	1 Quarter
Less: Net loss attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.20K	USD	1 Quarter
Less: Net loss attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-6.26K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-395.50K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-198.40K	USD	1 Quarter
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.50M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.40M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-197.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-401.76K	USD	1 Quarter
Unrecognized gain on equity investments	`UnrealizedGainLossOnInvestments`	$158.93K	USD	1 Quarter
Unrecognized gain on equity investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	-	USD	1 Quarter
Non-cash interest expense	`OtherNoncashExpense`	$1.80K	USD	1 Quarter
Fair value of shares issued to consultants	`FairValueOfSharesIssuedToConsultants`	$193.76K	USD	1 Quarter
Fair value of shares issued to consultants	`FairValueOfSharesIssuedToConsultants`	$50.00K	USD	1 Quarter
Depreciation	`Depreciation`	-	USD	1 Quarter
Depreciation	`Depreciation`	$293.00	USD	1 Quarter
Amortization of intangible	`AmortizationOfIntangibleAssets`	$56.13K	USD	1 Quarter
Amortization of intangible	`AmortizationOfIntangibleAssets`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.42K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.16K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$8.61K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-25.32K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$109.77K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$6.75K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$21.50K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$119.77K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-162.04K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-61.39K	USD	1 Quarter
Acquisition of equity investment	`PaymentsToAcquireInvestments`	$50.00K	USD	1 Quarter
Acquisition of equity investment	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Issuance of convertible note	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Issuance of convertible note	`ProceedsFromConvertibleDebt`	$29.50K	USD	1 Quarter
Issuance of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Issuance of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	$75.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$104.50K	USD	1 Quarter
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-111.39K	USD	1 Quarter
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-57.54K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`Cash`	$60.93K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$3.40K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$212.64K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$101.25K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$60.93K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$3.40K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$212.64K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$101.25K	USD	Point-in-time
Fair value of shares issued to consultants recorded as prepaid	`FairValueOfSharesIssuedToConsultantsRecordedAsPrepaid`	-	USD	1 Quarter
Fair value of shares issued to consultants recorded as prepaid	`FairValueOfSharesIssuedToConsultantsRecordedAsPrepaid`	$83.17K	USD	1 Quarter
Fair value of beneficial conversion feature related to issuance of convertible notes	`FairValueOfBeneficialConversionFeatureRelatedToIssuanceOfConvertibleNotes`	$28.70K	USD	1 Quarter
Fair value of beneficial conversion feature related to issuance of convertible notes	`FairValueOfBeneficialConversionFeatureRelatedToIssuanceOfConvertibleNotes`	-	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$648.32K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$669.44K	USD	Point-in-time
Issuance of common stock previously committed but not issued, Amount	`IssuanceOfCommonStockPreviouslyCommittedButNotIssuedAmount`	-	USD	1 Quarter
Issuance of common stock for cash, Share	`StockIssuedDuringPeriodSharesNewIssues`	37,500.00	shares	1 Quarter
Issuance of common stock for cash, Amount	`StockIssuedDuringPeriodValueNewIssues`	$75.00K	USD	1 Quarter
Fair value of shares issued to consultants for services, Amount	`SharesIssuedToConsultantsForServicesAmount`	$225.93K	USD	1 Quarter
Fair value of shares issued to advisory board member, Amount	`FairValueOfSharesIssuedToAdvisoryBoardMemberAmount`	$51.00K	USD	1 Quarter
Beneficial conversion feature associated with a convertible note	`DebtInstrumentConvertibleBeneficialConversionFeature`	$28.70K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-197.20K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-401.76K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquity`	$648.32K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$669.44K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.