10-Q Filing

APPLIED BIOSCIENCES CORP. CIK: 1607549 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001477932-18-005520`
Period End Date	20180930
Filing Date	20181114
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	appb-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 64 Cash Flow Statement 52 Stockholders Equity 13

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, net of allowance	`AccountsReceivableNet`	-	USD	Point-in-time
Accounts receivable, net of allowance	`AccountsReceivableNet`	$2.23K	USD	Point-in-time
Cash	`Cash`	$212.64K	USD	Point-in-time
Cash	`Cash`	$147.48K	USD	Point-in-time
Cash	`Cash`	$60.93K	USD	Point-in-time
Cash	`Cash`	$6.92K	USD	Point-in-time
Convertible note payable net of debt discount	`DebtInstrumentUnamortizedDiscount`	$85.89K	USD	Point-in-time
Convertible note payable net of debt discount	`DebtInstrumentUnamortizedDiscount`	-	USD	Point-in-time
Accounts receivable, net of allowance of nil and $2,227 at September 30, 2018 (unaudited) and March 31, 2018, respectively	`AccountsReceivableNetCurrent`	$12.39K	USD	Point-in-time
Accounts receivable, net of allowance of nil and $2,227 at September 30, 2018 (unaudited) and March 31, 2018, respectively	`AccountsReceivableNetCurrent`	$11.06K	USD	Point-in-time
Inventory	`InventoryNet`	$51.67K	USD	Point-in-time
Inventory	`InventoryNet`	$29.07K	USD	Point-in-time
Prepaids and other current assets	`OtherPrepaidExpenseCurrent`	$124.45K	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`	$54.45K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$226.85K	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`	$124.12K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.85K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$4.44K	USD	Point-in-time
Preferred stock, issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Equity investments	`EquityMethodInvestments`	$468.54K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Equity investments	`EquityMethodInvestments`	$873.30K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Other asset	`OtherAssetsNoncurrent`	$5.50K	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
TOTAL ASSETS	`Assets`	$1.01M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	10.68M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	10.50M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	10.50M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	10.68M	shares	Point-in-time
Common stock shares to be issued	`CommonStockSharesToBeIssued`	263,000.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$39.75K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$21.85K	USD	Point-in-time
Common stock shares to be issued	`CommonStockSharesToBeIssued`	212,000.00	shares	Point-in-time
Convertible note payable, net of debt discount of $85,890 at September 30, 2018	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible note payable, net of debt discount of $85,890 at September 30, 2018	`ConvertibleNotesPayableCurrent`	$78.61K	USD	Point-in-time
Accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$14.04K	USD	Point-in-time
Accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$238.03K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$35.88K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$356.39K	USD	Point-in-time
Preferred stock; $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding at September 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 September 30, 2018 (unaudited) and March 31, 2018	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.00001 par value; 200,000,000 shares authorized; 10,677,110 and 10,499,610 issued and outstanding at September 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; 10,677,110 and 10,499,610 issued and outstanding at September 30, 2018 (unaudited) and March 31, 2018, respectively	`CommonStockValue`	$107.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.05M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$3.54M	USD	Point-in-time
Common stock to be issued, 212,000 and 263,000 shares at September 30, 2018 (unaudited) and March 31, 2018, respectively	`CommonStockToBeIssued238000And263000SharesAtJune302018UnauditedAndMarch312018Respectively`	$526.00K	USD	Point-in-time
Common stock to be issued, 212,000 and 263,000 shares at September 30, 2018 (unaudited) and March 31, 2018, respectively	`CommonStockToBeIssued238000And263000SharesAtJune302018UnauditedAndMarch312018Respectively`	$537.85K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.90M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.41M	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquity`	$678.47K	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquity`	$669.00K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-9.03K	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-18.62K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$669.44K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$650.38K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$1.01M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$705.33K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
PRODUCT REVENUE, NET	`Revenues`	$116.61K	USD	2 Qtrs
PRODUCT REVENUE, NET	`Revenues`	$48.97K	USD	1 Quarter
PRODUCT REVENUE, NET	`Revenues`	$61.28K	USD	1 Quarter
PRODUCT REVENUE, NET	`Revenues`	$59.40K	USD	2 Qtrs
COST OF REVENUE, PRODUCT	`CostOfRevenue`	$42.40K	USD	1 Quarter
COST OF REVENUE, PRODUCT	`CostOfRevenue`	$60.16K	USD	2 Qtrs
COST OF REVENUE, PRODUCT	`CostOfRevenue`	$90.39K	USD	2 Qtrs
COST OF REVENUE, PRODUCT	`CostOfRevenue`	$52.44K	USD	1 Quarter
GROSS (LOSS) MARGIN	`GrossProfit`	$26.22K	USD	2 Qtrs
GROSS (LOSS) MARGIN	`GrossProfit`	$-758.00	USD	2 Qtrs
GROSS (LOSS) MARGIN	`GrossProfit`	$8.84K	USD	1 Quarter
GROSS (LOSS) MARGIN	`GrossProfit`	$6.57K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$45.50K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$65.06K	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$111.39K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$455.44K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$395.20K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$188.05K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$84.62K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$223.52K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$585.00	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$56.13K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$112.26K	USD	2 Qtrs
Depreciation and Amortization	`DepreciationAndAmortization`	$292.00	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$400.83K	USD	2 Qtrs
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$299.74K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$186.24K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$851.22K	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-374.61K	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-293.17K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-851.98K	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-177.41K	USD	1 Quarter
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	$404.76K	USD	2 Qtrs
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	$245.83K	USD	1 Quarter
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	-	USD	2 Qtrs
Interest Expense	`InterestExpense`	-	USD	2 Qtrs
Interest Expense	`InterestExpense`	$68.30K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$66.42K	USD	1 Quarter
Interest Expense	`InterestExpense`	-	USD	1 Quarter
Total other income, net	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Total other income, net	`OtherNonoperatingIncomeExpense`	$179.41K	USD	1 Quarter
Total other income, net	`OtherNonoperatingIncomeExpense`	$336.46K	USD	2 Qtrs
Total other income, net	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-374.61K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-515.52K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-177.41K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-113.76K	USD	1 Quarter
Less: Net loss (income) attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$1.14K	USD	2 Qtrs
Less: Net loss (income) attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-57.00	USD	1 Quarter
Less: Net loss (income) attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-3.34K	USD	1 Quarter
Less: Net loss (income) attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-9.59K	USD	2 Qtrs
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-110.42K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-177.35K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-505.92K	USD	2 Qtrs
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-375.75K	USD	2 Qtrs
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.27M	shares	2 Qtrs
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.32M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.68M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.62M	shares	2 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-374.61K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-515.52K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-177.41K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-113.76K	USD	1 Quarter
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	$404.76K	USD	2 Qtrs
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	$245.83K	USD	1 Quarter
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Unrealized gain on equity investments	`UnrealizedGainLossOnInvestments`	-	USD	2 Qtrs
Non-cash interest expense	`OtherNoncashExpense`	-	USD	2 Qtrs
Non-cash interest expense	`OtherNoncashExpense`	$42.72K	USD	2 Qtrs
Fair value of shares issued to consultants	`FairValueOfSharesIssuedToConsultants`	$50.00K	USD	2 Qtrs
Fair value of shares issued to consultants	`FairValueOfSharesIssuedToConsultants`	$255.35K	USD	2 Qtrs
Depreciation	`Depreciation`	$586.00	USD	2 Qtrs
Depreciation	`Depreciation`	-	USD	2 Qtrs
Amortization of intangible	`AmortizationOfIntangibleAssets`	-	USD	2 Qtrs
Amortization of intangible	`AmortizationOfIntangibleAssets`	$112.26K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.39K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.32K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-22.60K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-7.65K	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$107.50K	USD	2 Qtrs
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.38K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$11.80K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$241.89K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-210.21K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-293.51K	USD	2 Qtrs
Acquisition of equity investment	`PaymentsToAcquireInvestments`	$50.00K	USD	2 Qtrs
Acquisition of equity investment	`PaymentsToAcquireInvestments`	-	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Issuance of convertible note	`ProceedsFromConvertibleDebt`	-	USD	2 Qtrs
Issuance of convertible note	`ProceedsFromConvertibleDebt`	$164.50K	USD	2 Qtrs
Issuance of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	$195.06K	USD	2 Qtrs
Issuance of common stock for cash	`ProceedsFromIssuanceOfCommonStock`	$75.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$195.06K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$239.50K	USD	2 Qtrs
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-65.15K	USD	2 Qtrs
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-54.01K	USD	2 Qtrs
CASH, BEGINNING OF PERIOD	`Cash`	$212.64K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$147.48K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$60.93K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$6.92K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$212.64K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$147.48K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$60.93K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$6.92K	USD	Point-in-time
Fair value of shares issued to consultants recorded as prepaid	`FairValueOfSharesIssuedToConsultantsRecordedAsPrepaid`	-	USD	2 Qtrs
Fair value of shares issued to consultants recorded as prepaid	`FairValueOfSharesIssuedToConsultantsRecordedAsPrepaid`	$37.50K	USD	2 Qtrs
Fair value of beneficial conversion feature related to issuance of convertible notes	`FairValueOfBeneficialConversionFeatureRelatedToIssuanceOfConvertibleNotes`	-	USD	2 Qtrs
Fair value of beneficial conversion feature related to issuance of convertible notes	`FairValueOfBeneficialConversionFeatureRelatedToIssuanceOfConvertibleNotes`	$128.60K	USD	2 Qtrs
Increase in cash held in trust account from sale of common stock	`IncreaseInCashHeldInTrustAccountFromSaleOfCommonStock`	$499.94K	USD	2 Qtrs
Increase in cash held in trust account from sale of common stock	`IncreaseInCashHeldInTrustAccountFromSaleOfCommonStock`	-	USD	2 Qtrs

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$669.44K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$650.38K	USD	Point-in-time
Issuance of common stock previously committed but not issued, Amount	`IssuanceOfCommonStockPreviouslyCommittedButNotIssuedAmount`	-	USD	2 Qtrs
Issuance of common stock for cash, Amount	`StockIssuedDuringPeriodValueNewIssues`	$75.00K	USD	2 Qtrs
Fair value of shares issued to consultants for services, Amount	`SharesIssuedToConsultantsForServicesAmount`	$241.85K	USD	2 Qtrs
Fair value of shares issued to advisory board member, Amount	`FairValueOfSharesIssuedToAdvisoryBoardMemberAmount`	$51.00K	USD	2 Qtrs
Beneficial conversion feature associated with a convertible note	`DebtInstrumentConvertibleBeneficialConversionFeature`	$128.60K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-374.61K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-515.52K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-177.41K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-113.76K	USD	1 Quarter
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$669.44K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$650.38K	USD	Point-in-time

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