10-Q Filing

APPLIED BIOSCIENCES CORP. CIK: 1607549 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001477932-19-004761`
Period End Date	20190630
Filing Date	20190814
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	appb-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 40 Cash Flow Statement 42 Stockholders Equity 28

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$47.04K	USD	Point-in-time
Cash	`Cash`	$60.93K	USD	Point-in-time
Net of debt discount	`NetOfDebtDiscount`	$50.34K	USD	Point-in-time
Cash	`Cash`	$3.40K	USD	Point-in-time
Cash	`Cash`	$37.94K	USD	Point-in-time
Net of debt discount	`NetOfDebtDiscount`	-	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$70.01K	USD	Point-in-time
Related party net of debt discount	`RelatedPartyNetOfDebtDiscount`	-	USD	Point-in-time
Related party net of debt discount	`RelatedPartyNetOfDebtDiscount`	$5.09K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$163.41K	USD	Point-in-time
Inventory	`InventoryNet`	$115.35K	USD	Point-in-time
Inventory	`InventoryNet`	$78.74K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaids and other current assets	`OtherPrepaidExpenseCurrent`	$16.27K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Prepaids and other current assets	`OtherPrepaidExpenseCurrent`	$65.27K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$354.46K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$239.57K	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	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`	$412.30K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$452.05K	USD	Point-in-time
Equity investments	`EquityMethodInvestments`	$898.29K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Equity investments	`EquityMethodInvestments`	$898.29K	USD	Point-in-time
Preferred stock, outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.94M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Goodwill	`Goodwill`	$1.94M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other asset	`OtherAssetsNoncurrent`	$29.99K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other asset	`OtherAssetsNoncurrent`	$5.50K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.65M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.45M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	13.40M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$3.52M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.40M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	13.45M	shares	Point-in-time
Common stock shares to be issued	`CommonStockSharesToBeIssued`	358,805.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$245.39K	USD	Point-in-time
Common stock shares to be issued	`CommonStockSharesToBeIssued`	408,805.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$278.55K	USD	Point-in-time
Note Payable	`NotesPayable`	$25.00K	USD	Point-in-time
Note Payable	`NotesPayable`	$25.00K	USD	Point-in-time
Convertible note payable, net of debt discount of $50,336 at June 30, 2019	`ConvertibleNotesPayableCurrent`	-	USD	Point-in-time
Convertible note payable, net of debt discount of $50,336 at June 30, 2019	`ConvertibleNotesPayableCurrent`	$199.60K	USD	Point-in-time
Convertible note payable to related party net of debt discount of $5,088 at June 30, 2019	`ConvertibleNotePayableToRelatedPartyNetOfDebtDiscountOf5088AtJune302019`	$134.91K	USD	Point-in-time
Convertible note payable to related party net of debt discount of $5,088 at June 30, 2019	`ConvertibleNotePayableToRelatedPartyNetOfDebtDiscountOf5088AtJune302019`	-	USD	Point-in-time
Accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$69.77K	USD	Point-in-time
Accrued expenses	`OtherAccountsPayableAndAccruedLiabilities`	$70.72K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$374.27K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$674.67K	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock; $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding at June 30, 2019 (unaudited) and March 31, 2019, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding at June 30, 2019 (unaudited) and March 31, 2019, respectively	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.00001 par value; 200,000,000 shares authorized; 13,447,110 issued and outstanding at June 30, 2019 (unaudited) and 13,397,110 at March 31, 2019, respectively	`CommonStockValue`	$136.00	USD	Point-in-time
Common stock; $0.00001 par value; 200,000,000 shares authorized; 13,447,110 issued and outstanding at June 30, 2019 (unaudited) and 13,397,110 at March 31, 2019, respectively	`CommonStockValue`	$135.00	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$6.89M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapital`	$7.02M	USD	Point-in-time
Common stock to be issued, 358,805 and 408,805 shares at June 30, 2019 (unaudited) and March 31, 2019, respectively	`CommonStockCapitalSharesReservedForFutureIssuance`	723,807.00	shares	Point-in-time
Common stock to be issued, 358,805 and 408,805 shares at June 30, 2019 (unaudited) and March 31, 2019, respectively	`CommonStockCapitalSharesReservedForFutureIssuance`	773,807.00	shares	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.53M	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquity`	$648.32K	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquity`	$2.13M	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquity`	$1.79M	USD	Point-in-time
Total Applied BioSciences Corp. Stockholders' Equity	`StockholdersEquity`	$-2.90M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.14M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.06M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$3.28M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.85M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.52M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$3.65M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Products	`Products`	$10.43K	USD	1 Quarter
Products	`Products`	$85.74K	USD	1 Quarter
Services	`Services`	$125.72K	USD	1 Quarter
Services	`Services`	-	USD	1 Quarter
Total revenues, net	`Revenues`	$211.46K	USD	1 Quarter
Total revenues, net	`Revenues`	$10.43K	USD	1 Quarter
Products	`CostOfProducts`	$17.76K	USD	1 Quarter
Products	`CostOfProducts`	$78.89K	USD	1 Quarter
Services	`CostOfService`	-	USD	1 Quarter
Services	`CostOfService`	$20.91K	USD	1 Quarter
Total costs of revenue	`CostOfRevenue`	$99.80K	USD	1 Quarter
Total costs of revenue	`CostOfRevenue`	$17.76K	USD	1 Quarter
GROSS MARGIN (LOSS)	`GrossProfit`	$-7.32K	USD	1 Quarter
GROSS MARGIN (LOSS)	`GrossProfit`	$111.66K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$109.63K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$344.04K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$207.15K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$444.05K	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$293.00	USD	1 Quarter
Depreciation and Amortization	`DepreciationAndAmortization`	$39.75K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$551.48K	USD	1 Quarter
TOTAL OPERATING EXPENSES	`OperatingExpenses`	$593.42K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-558.81K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-481.76K	USD	1 Quarter
Change in fair value of equity investments	`ChangeInFairValueOfEquityInvestments`	-	USD	1 Quarter
Change in fair value of equity investments	`ChangeInFairValueOfEquityInvestments`	$158.93K	USD	1 Quarter
Interest Expense	`InterestExpense`	$-1.88K	USD	1 Quarter
Interest Expense	`InterestExpense`	$-26.16K	USD	1 Quarter
Total other (expense), net	`OtherNonoperatingIncomeExpense`	$157.05K	USD	1 Quarter
Total other (expense), net	`OtherNonoperatingIncomeExpense`	$-26.16K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-507.93K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-401.76K	USD	1 Quarter
Less: Net loss attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$6.26K	USD	1 Quarter
Less: Net loss attributable to non controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$84.03K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-395.50K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO APPLIED BIOSCIENCES CORP.	`ProfitLoss`	$-423.90K	USD	1 Quarter
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter
LOSS PER COMMON SHARE	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	10.50M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.81M	shares	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-507.93K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-401.76K	USD	1 Quarter
Unrecognized gain on equity investments	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Unrecognized gain on equity investments	`UnrealizedGainLossOnInvestments`	$-158.93K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.80K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$21.96K	USD	1 Quarter
Fair value of shares issued to consultants	`FairValueOfSharesIssuedToConsultants`	-	USD	1 Quarter
Fair value of shares issued to consultants	`FairValueOfSharesIssuedToConsultants`	$193.76K	USD	1 Quarter
Depreciation	`Depreciation`	$39.75K	USD	1 Quarter
Depreciation	`Depreciation`	$293.00	USD	1 Quarter
Allowance for bad debt	`AllowanceForBadDebt`	$25.00K	USD	1 Quarter
Allowance for bad debt	`AllowanceForBadDebt`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.42K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$76.42K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-25.32K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-36.62K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$16.49K	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$109.77K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$119.77K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-34.11K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-399.04K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-162.04K	USD	1 Quarter
Proceeds from issuance of convertible notes	`ProceedsFromConvertibleDebt`	$29.50K	USD	1 Quarter
Proceeds from issuance of convertible notes	`ProceedsFromConvertibleDebt`	$389.94K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$75.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$389.94K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$104.50K	USD	1 Quarter
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.10K	USD	1 Quarter
NET CHANGE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-57.54K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`Cash`	$47.04K	USD	Point-in-time
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`	$37.94K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$47.04K	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`	$37.94K	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`	$77.38K	USD	1 Quarter

Stockholders Equity 28 line items

Line Item	Tag	Value	Unit	Period
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$648.32K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$2.13M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$1.79M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.90M	USD	Point-in-time
Issuance of common stock previously committed but not issued, Amount	`IssuanceOfCommonStockPreviouslyCommittedButNotIssuedAmount`	-	USD	1 Quarter
Issuance of common stock previously committed but not issued, Amount	`IssuanceOfCommonStockPreviouslyCommittedButNotIssuedAmount`	-	USD	1 Quarter
Beneficial conversion feature associated with issuance of convertible notes	`DebtInstrumentConvertibleBeneficialConversionFeature`	$77.38K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-507.93K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-401.76K	USD	1 Quarter
Issuance of common stock for cash, shares	`StockIssuedDuringPeriodSharesNewIssues`	-	shares	1 Quarter
Issuance of common stock for cash, Amount	`StockIssuedDuringPeriodValueNewIssues`	-	USD	1 Quarter
Issuance of common stock for cash, Amount	`StockIssuedDuringPeriodValueNewIssues`	$75.00K	USD	1 Quarter
Fair value of shares issued to consultant for services, Amount	`FairValueOfSharesIssuedToConsultantForServicesAmount`	$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	`AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature`	$28.70K	USD	1 Quarter
Fair value of shares issued to consultant for services, Shares	`StockIssuedDuringPeriodSharesIssuedForServices`	-	shares	1 Quarter
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, Shares	`SharesIssued`	-	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$648.32K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$2.13M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$1.79M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.90M	USD	Point-in-time

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