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NDA Tweet
To all shareholders of SBES, Our team had great ZOOM meeting with Wenyan Qin and his team. Due to NDA signed by both parties, we cannot release more Information.
— Meihua Xu (@meihuaxu) November 23, 2021
International Application Status Report
Post 103142
Monday, 12/20/21 11:09:19 AM
Merry Christmas
Very definitive. AMEN. Your YACHT is fixing to sail.
Only the very best to each of us.
SBFM #6 On Breakout Boards
Par value is the nominal or face value of a bond, share of stock, or coupon as indicated on a bond or stock certificate. The certificate is issued by the lender and given to a borrower or by a corporate issuer and given to an investor. It is a static value determined at the time of issuance and, unlike market value, it doesn’t fluctuate.
A bond’s par value is the dollar amount indicated on the certificate, wherein the calculation of interest and the actual amount to be paid to lenders at maturity date is set. A share of a stock’s par value is the minimum contribution amount made by investors to purchase one share at the time of issue.
Ever try to catch a plane that had just left the ground. Better catch this one while they are still boarding. We are very very soon to be taxiing for takeoff. Get boarded, buckle up and keep your seats, it's gonna be the ride of a lifetime.
Midtermer, we are thinking of you and your family and you all are in our prayers. God bless you and yours.
Petition to stop stock manipulation.
https://stocktwits.com/Hyperborean369/message/342597105
Tick Tock, Tick Tock. WORLD CHANGING for so many sick patients and smart investors.
Tick Tock, Tick Tock. WORLD CHANGING for so many sick patients and smart investors.
PCT Patent covers every country except the following list of countries.
Afghanistan
Andorra
Argentina
Bahamas
Bangladesh
Bermuda
Bhutan
Bolivia
Burundi
Cape Verde
East Timor
Ethiopia
Fiji
Gulf Cooperation Council (GCC) (GCC itself is not a member, but all its countries are, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE)
Guyana
Haiti
Hong Kong (may enter through China filing)
Iraq
Jamaica
Lebanon
Mauritius
Myanmar
Nauru
Nepal
Pakistan
Paraguay
Rwanda
Solomon Islands
Somalia
Somaliland
South Sudan
Suriname
Taiwan
Tonga
Uruguay
Vanuatu
Vatican City (Holy See)
Venezuela
Western Samoa
Yemen
Zaire
Filing a PCT national stage application in China will provide the applicant with a subsequent opportunity to file in Hong Kong. Along with Hong Kong, Taiwan is one of the more popular non-PCT Asian countries considered by applicants.
Been here as a shareholder for over a year. Watched the company for several years and when the price was in my ball park, I bought. Have not sold one share, holding strong and waiting patiently. I just keep enjoying ESSENTIAL 9 with its great benefits.
Only the best to each of you. Always remember, a man must know his limitations when it comes to not only business but also his health.
PCT Patent covers every country except the following list of countries.
Afghanistan
Andorra
Argentina
Bahamas
Bangladesh
Bermuda
Bhutan
Bolivia
Burundi
Cape Verde
East Timor
Ethiopia
Fiji
Gulf Cooperation Council (GCC) (GCC itself is not a member, but all its countries are, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE)
Guyana
Haiti
Hong Kong (may enter through China filing)
Iraq
Jamaica
Lebanon
Mauritius
Myanmar
Nauru
Nepal
Pakistan
Paraguay
Rwanda
Solomon Islands
Somalia
Somaliland
South Sudan
Suriname
Taiwan
Tonga
Uruguay
Vanuatu
Vatican City (Holy See)
Venezuela
Western Samoa
Yemen
Zaire
Filing a PCT national stage application in China will provide the applicant with a subsequent opportunity to file in Hong Kong. Along with Hong Kong, Taiwan is one of the more popular non-PCT Asian countries considered by applicants.
Been here as a shareholder for over a year. Watched the company for several years and when the price was in my ball park, I bought. Have not sold one share, holding strong and waiting patiently. I just keep enjoying ESSENTIAL 9 with its great benefits.
Only the best to each of you. Always remember, a man must know his limitations when it comes to not only business but also his health.
Agree, Thank You.
Folks, BE Patient and Win Big. Hold those shares.
You've got to know
When to hold 'em
Know when to fold'em Know when to walk away
Know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
Right now it's time to hold'em tight to your chest.
You've got to know
When to hold 'em
Know when to fold'em Know when to walk away
Know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
Right now it's time to hold'em tight to your chest.
Genomics One Corporation, now known as Alert B&C Corporation,
Refer to Post # 80411
Sunshine Biopharma Inc. (SBFM): Meet Dr. Steve Slilaty
investorshub.advfn.com/boards/read_msg.aspx?...
The second company which Dr. Slilaty founded, Genomics One Corporation, now known as Alert B&C Corporation, conducted an initial public offering (IPO) of its capital stock in 1999 and, on the basis...
Been here since March 2020 as a stockholder bought in at .0002, had been keeping tabs on SBFM for a few years prior to buying in. I was looking for a company that was seriously going after a cancer cure. I along with almost all families have watched this monster devour loved ones.
I watched as they were making progress and saw only positive advancements.
I've never been lied to with SBFM news. I was very pleased when SBFM decided to go after covid, another monster taking the lives of many across the world.
I have not sold any shares because I bought in as a long-term investor.
Be very patient and we can all see these two monsters be brought under subjection.
THANK you for this great information and your other dd's that you have shared. Just received my new shipment of Essential 9 today and this old man is enjoying renewed energy and stamina.
EOT, I agree, reminded me of dominoes falling. Sad, very sad that folks would give up so much at the drop of a hat. Been here a long time, haven't sold one share, my plans are for staying for the whole enchilada. I came in solely for the cancer cure. The covid cure wasn't on the platter when i purchased shares. I look at it as an added dividend. HUGE DIVIDEND
Thank You and Happy New Year
HAPPY NEW YEAR, BE SAFE
Looking forward to HBRM in 2021.
HAPPY NEW YEAR, BE SAFE
Only the best to each of you, excited about SBFM in 2021.
Merry Christmas with only the very best wishes to each of you and be safe.
Thank you
We just need to hold on fast and we will reap bountifully not only monetarily but also having a part in destroying 2 of the worst enemies on planet earth, cancer and covid 19.
I agree
Load and hold. This is what dreams are made of.
Only the best to each of us.
Progress, progress, progress, nothing but progress.
Load and hold while price is low. Only the best to each of us.
I agree I've seen the same thing happen. It's time to be very vigilant and be comfortable with your position.
I agree I've seen the same thing happen. It's time to be very vigilant and be comfortable with your position.
Wonderful news and I am very excited to be a part of SBFM that has and continues to declare war on two of the largest monsters that has attacked planet earth, Cancer and Covid-19. I do not know of a single acquaintance that cancer has not struck their family at some point in their lifetime and covid has invaded many of our friends.
Let us keep buying and keep holding. I believe were soon going to hear great news very soon. I wish only the very best to each one of us.
Happy Thanksgiving to everyone.
May each of us always remember to be thankful and hopeful.
Hold fast and only the best for each of us.
Very positive news
Very positive news, going forward fighting against two of the worst enemies that has attacked planet earth. Hold fast to those shares and add till you reach your comfort zone. Tell everyone you possibly can about SBFM and their goal over the past ten years for a cancer cure in addition to the covid-19 work.
Only the very Best to all and remember, the cup is never half empty but half full.
I totally agree.
At my last doctor visit I explained to him why I no longer needed a sleep aid or ED medication. I told him what I was taking in addition to my other heart meds and he encouraged me to keep taking the Essential 9 by Sunshine Biopharma. He also wanted more info on the company after I told him what they are working on.
Importance of the ESSENTIAL 9 amino acids.
https://www.healthline.com/nutrition/essential-amino-acids#sources-and-intake
I've been taking Essential 9 for some time now and I am here to tell you it works. After taking it for a short while it kicked in and this old man started feeling like a younger more energetic and overall healthier man. I no longer have a need for the ED pills, which has been very expensive and at times didn't work either These golden years are not all that great without help and I have found another great helper, Essential 9 by SBFM.
Cell Suicide Post
Post # 61538
Adav-27 Cell Suicide
https://insiderfinancial.com/what-just-moved-sunshine-biopharma-inc-otcmktssbfm/128919/
Sunshine Biopharma, Inc. (OTCMKTS:SBFM) has run up more than 220% during June so far, currently trading for a market capitalization at just shy of $9 million at a price per share of $0.009.
This is one we have looked at on couple of occasions the past and highlighted as potentially being a company to watch at this end of the biotechnology space. However, it goes without saying that companies of this size are notoriously difficult to assign a valuation to and equally difficult to pin down from a risk profile perspective.
In light of the recent run, however, we are going to give it a go. Specifically, we are asking the question, what drove the latest action, and where will this go next?
So, as mentioned, this one is a biotechnology play, and its primary focus right now is in the oncology space. The company has four generic drugs on its roster by way of four Cross-Referencing Agreements, each of which targets a specific type of cancer.
These are Anastrazole, which is targeting breast cancer and is a generic form of AstraZeneca plc (ADR) (NYSE:AZN)’s Arimidex; Letrozole, which is also targeting breast cancer but, unlike Anastrazole, is a generic form of Novartis AG (ADR) (NYSE:NVS)’s Femara; Bicalutamide, another AstraZeneca drug, this time called Casodex and targeting prostate cancer; and Finasteride, a generic form of a Merck & Co., Inc. (NYSE:MRK) drug called Propecia that goes after benign prostatic hyperplasia (BPH).
Right now, the company isn’t allowed to sell or manufacture any of these drugs (at least directly), but the latest announcement looks set to change this fact near term. Last week, management announced that it had filed an application for what’s called a Drug Establishment License (DEL) with Health Canada, the Canadian equivalent of the FDA. A DEL is the first step in the certification process of a company to be able to handle drugs, including manufacturing, storage, tracking and distribution. In other words, it’s a hurdle to being a drug seller/maker and Sunshine needs to/is working on clearing it right now.
So that is the short game, but the real value in this one is its long game.
The company intends to use the revenues it generates from the sale of these generic assets to fund a development program for a drug called Adva-27a. This one is what’s called a topoisomerase II inhibitor and there exists plenty of evidence that these sorts of drugs can be effective in inducing apoptosis (another word for cell suicide) in the cancerous cells associated with a variety of solid tumor cancers – breast cancer, lung cancer, pancreatic cancer and more.
For those looking to pick up a bit more in the science associated with this one, this journal piece is well worth a look.
So the process is underway for the company to become a drug seller, and to subsequently use the revenue generated from its generics operations to fund development of what looks like a promising cancer asset.
That’s great, but again, it’s not really a 200% valuation driver – at least not right now.
So this brings us to our initial question: what is driving the action?
Take a look at this 8K, filed June 22 with the SEC.
The filing outlines the recruiting of an accounting firm called MNP LLP, which we checked out, and it looks as though it’s a pretty big and reputable Canadian firm, on remit to establish a valuation for the company’s issued and outstanding shares. In the 8-K, management outlines that this decision (the recruiting of MNP) was rooted in, or rather necessitated by, certain Subscription Agreements.
With that said, however, there is a chance that, Subscription Agreements aside, the real driver behind this valuation establishment is that the company is dressing itself up for a buyout, and is using the MNP valuation to establish some sort of leverage in any associated negotiations.
That’s speculative of course, but not an unreasonable assumption.
The most interesting thing about this is the valuation MNP has placed on Sunshine Biopharma’s issued and outstanding shares: $977 million to $1.13 billion.
First, this seems wildly optimistic, but even under the guise of wild optimism, there is still plenty of room for appreciation on the company’s current market capitalization of $9 million.
So that’s the upside.
The downside is that looks set to be plenty of dilution near term, regardless of any buyout aspirations. Management seems to enjoy issuing shares (example, in April alone, 34 million shares valued at $98,600 for $85,000 Canadian (approximately $63,912 US), 6.6 million shares issued for the purchase of laboratory equipment valued at $22,000, 100 million shares reserved for issuance associated with a $65,000 convertible note), and it is the early shareholders that are going to take the brunt of this sort of dilution going forward.
With that said, however, if the MNP valuation proves anywhere close to accurate, dilution will be an afterthought long term.
We will be updating our subscribers as soon as we know more. For the latest updates on SBFM, sign up below!
Image courtesy of Fabio Hofnik via Flickr
Disclosure: We have no position in SBFM and have not been compensated for this article.
RELATED ITEMS:BIOTECH, FEATURED, OTCMKTS:SBFM, RUNNERS, SBFM, STOCKS, SUNSHINE BIOPHARMA
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A little history reading as we patiently wait.
Only the best for each of us. TAKE TIME TO VOTE.
Press Release
10-Q: SUNSHINE BIOPHARMA, INC
Published: Aug. 19, 2020 at 1:22 p.m. ET
The MarketWatch News Department was not involved in the creation of this content.
(EDGAR Online via COMTEX) -- ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion should be read in conjunction with our consolidated financial statements and notes thereto included herein. In connection with, and because we desire to take advantage of, the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we caution readers regarding certain forward looking statements in the following discussion and elsewhere in this report and in any other statement made by, or on our behalf, whether or not in future filings with the Securities and Exchange Commission. Forward looking statements are statements not based on historical information and which relate to future operations, strategies, financial results or other developments. Forward looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control and many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward looking statements made by, or on our behalf. We disclaim any obligation to update forward looking statements.
Overview and History
We were incorporated in the State of Colorado on August 31, 2006 under the name "Mountain West Business Solutions, Inc." Until October 2009, our business was to provide management consulting with regard to accounting, computer and general business issues for small and home-office based companies.
In October 2009, we acquired Sunshine Biopharma, Inc., a Colorado corporation holding an exclusive license (the "License") to a new anticancer drug bearing the laboratory name, Adva-27a. As a result of this transaction we changed our name to "Sunshine Biopharma, Inc." and our officers and directors resigned their positions with us and were replaced by Sunshine Biopharma, Inc.'s management at the time, including our current CEO, Dr. Steve N. Slilaty, and our current CFO, Camille Sebaaly each of whom remain part of our current management. Our principal business became that of a pharmaceutical company focusing on the development of our licensed Adva-27a anticancer compound. In December 2015 we acquired all issued and pending patents pertaining to our Adva-27a technology and terminated the License.
In July 2014, we formed a wholly owned Canadian subsidiary, Sunshine Biopharma Canada Inc. ("Sunshine Canada"), for the purposes of offering generic pharmaceutical products in Canada and elsewhere around the world. In April and June 2016 Sunshine Canada signed licensing agreements for four (4) generic prescription drugs for the treatment of breast cancer, prostate cancer and BPH (Benign Prostatic Hyperplasia).
In January 2018, we acquired all of the issued and outstanding shares of Atlas Pharma Inc. ("Atlas"), a Health Canada certified company dedicated to chemical analysis of pharmaceutical and other industrial samples. Effective April 1, 2019, we re-assigned all of our stock in Atlas back to the original owner in exchange for the Atlas related debt. See "Discontinued Analytical Chemistry Services Operations" below for a more detailed explanation of this acquisition and the subsequent disposition thereof in April 2019.
In March 2018, we formed NOX Pharmaceuticals, Inc., a wholly owned Colorado corporation, and assigned all of our interest in our Adva-27a anticancer compound to that company. NOX Pharmaceuticals, Inc.'s mission is to research, develop and commercialize proprietary drugs including Adva-27a.
In December 2018, we completed the development of a new nutritional supplement which we trademarked Essential 9tm. This new supplement is an over-the-counter tablet comprised of the nine amino acids which the human body cannot make. Essential 9tmhas been authorized for marketing by Health Canada under NPN 80089663. On March 12, 2019 Essential 9tmbecame available for sale on Amazon.ca and shortly thereafter on Amazon.com.
Effective February 1, 2019, we completed a 20 to 1 reverse split of our $0.001 par value Common Stock reducing the issued and outstanding shares of Common Stock from 1,713,046,242 to 85,652,400 (the "First Reverse Stock Split"). The number of authorized shares of our $0.001 par value Common Stock remained at 3,000,000,000 shares.
In November 2019, we received Health Canada approval for a new Calcium-Vitamin D supplement. Health Canada issued NPN 80093432 through which it authorized us to manufacture and sell the new Calcium-Vitamin D supplement under the brand name Essential Calcium-Vitamin Dtm.
Effective April 6, 2020, we completed another 20 to 1 reverse split of our $0.001 par value Common Stock, reducing the issued and outstanding shares of Common Stock from 1,193,501,925 to 59,675,417 (the "Second Reverse Stock Split"). The authorized capital of our Common Stock remained as previously established at 3,000,000,000 shares. Except in the paragraphs describing the reverse stock splits, all references in this Report to our Common Stock as well as the price per share of Common Stock are presented on a post First and Second Reverse Stock Splits basis.
On May 22, 2020, we filed a patent application in the United States for a new treatment for Coronavirus infections, including COVID-19. Our patent application covers composition subject matter pertaining to small molecules for inhibition of the main Coronavirus protease (Mpro), an enzyme that is essential for viral replication. The small molecules covered by the patent application were computer modelled and designed by Dr. Steve N. Slilaty, our CEO. The patent application has a priority date of May 22, 2020.
On June 17, 2020, we filed an amendment to our Articles of Incorporation (the "Amendment") with the Secretary of State for the State of Colorado, to eliminate the Series "A" Preferred Shares consisting of Eight Hundred and Fifty Thousand (850,000) shares, par value $0.10 per share, and the designation thereof, such shares to be returned to the status of undesignated shares of Preferred Stock. In addition, the Amendment also increased the number of authorized Series "B" Preferred Shares from Five Hundred Thousand (500,000) to One Million (1,000,000) shares.
Also on June 17, 2020, our Board of Directors authorized the issuance of Five Hundred Thousand (500,000) shares of our Series "B" Preferred Stock in favor of Dr. Steve N. Slilaty, our CEO and a director, in consideration for his development of a new treatment for Coronavirus infections, including COVID-19. The Series "B" Preferred Stock is non-convertible, non-redeemable, non-retractable and has a superior liquidation value of $0.10 per share. Each share of Series "B" Preferred Stock is entitled to 1,000 votes per share. This stock issuance brought Dr. Slilaty's holdings of our Series B Preferred Stock to One Million (1,000,000) shares.
Our principal place of business is located at 6500 Trans-Canada Highway, 4th Floor, Pointe-Claire, Quebec, Canada H9R 0A5. Our phone number is (514) 426-6161 and our website address is www.sunshinebiopharma.com.
We have not been subject to any bankruptcy, receivership or similar proceeding.
Plan of Operation
Despite the fact that we now are generating revenues, we have elected to include a Plan of Operation to discuss our ongoing research and development activities relating to our proprietary drug development operations, as well as, our other business activities.
Proprietary Drug Development Operations
Coronavirus Treatment
On May 22, 2020, we filed a patent application in the United States for a new treatment for Coronavirus infections, including COVID-19. Our patent application covers composition subject matter pertaining to small molecules for inhibition of the main Coronavirus protease (Mpro), an enzyme that is essential for viral replication. The small molecules covered by the patent application were computer modelled and designed by Dr. Steve N. Slilaty, our CEO. The patent application has a priority date of May 22, 2020.
Viruses carry minimal genetic information as they rely, for the most part, on host cellular machinery to multiply. Coronavirus has a positive-sense RNA genome consisting of approximately 30,000 nucleotides, a size that places Coronavirus among the larger sized viruses. A positive-sense RNA genome is effectively a messenger RNA which allows the virus to express its genes immediately upon gaining entry into the host cell without the need for any prior replication or transcription steps as is the case with negative-sense RNA or DNA viruses. This is part of what makes Coronavirus a highly aggressive pathogen. Many of the causative agents of serious human diseases are positive-sense RNA viruses, including Hepatitis C, Zeka, Polio, West Nile, Dengue, Cardiovirus, and many others. Some positive-sense RNA viruses, such as the rhinoviruses that cause the common cold, are less clinically serious but they are responsible for widespread morbidity on a yearly basis.
The initial genome expression products of Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), the causative agent of COVID-19, are two large polyproteins, referred to as pp1a and pp1ab. These two polyproteins are cleaved at 13 specific sites by the main Coronavirus virus encoded protease (Mpro or 3CLpro) to generate a number of mature viral proteins essential for viral replication. Mpro represents an attractive anti-viral drug development target as it plays a central role in the early stages of viral replication. The crystal structure of Mpro shows the presence of an active site Cysteine (Cys145) and a coordinated active site Histidine (His41), both of which are essential for the enzyme's proteolytic activity. We have designed and filed a patent application for a series of Mpro inhibitors which we plan to synthesize and test for potential viral replication inhibitory activity soon.
Adva-27a Anticancer Drug
Since inception, our proprietary drug development activities have been focused on the development of a small molecule called Adva-27a for the treatment of aggressive forms of cancer. A Topoisomerase II inhibitor, Adva-27a has been shown to be effective at destroying Multidrug Resistant Cancer cells including Pancreatic Cancer cells, Breast Cancer cells, Small-Cell Lung Cancer cells and Uterine Sarcoma cells (Published in ANTICANCER RESEARCH, Volume 32, Pages 4423-4432, October 2012). Sunshine Biopharma is direct owner of all issued and pending worldwide patents pertaining to Adva-27a including U.S. Patents Number 8,236,935 and 10,272,065.
Adva-27a is a GEM-difluorinated C-glycoside derivative of Podophyllotoxin (see Figure 1). Another derivative of Podophyllotoxin called Etoposide is currently on the market and is used to treat various types of cancer including leukemia, lymphoma, testicular cancer, lung cancer, brain cancer, prostate cancer, bladder cancer, colon cancer, ovarian cancer, liver cancer and several other forms of cancer. Etoposide is one of the most widely used anticancer drugs. Adva-27a and Etoposide are similar in that they both attack the same target in cancer cells, namely the DNA unwinding enzyme, Topoisomerase II. Unlike Etoposide however, Adva-27a is able to penetrate and destroy Multidrug Resistant Cancer cells. Adva-27a is the only compound known today that is capable of destroying Multidrug Resistant Cancer. In addition, Adva-27a has been shown to have distinct and more desirable biological and pharmacological properties compared to Etoposide. In side-by-side studies using Multidrug Resistant Breast Cancer cells and Etoposide as a reference, Adva-27a showed markedly greater cell killing activity.
These and other preclinical data have been published in ANTICANCER RESEARCH, a peer-reviewed International Journal of Cancer Research and Treatment. The publication which is entitled "Adva-27a, a Novel Podophyllotoxin Derivative Found to Be Effective Against Multidrug Resistant Human Cancer Cells"
We have been delayed in our clinical development program due to lack of funding. Our fund raising efforts are continuing and as soon as adequate financing is in place we will continue our clinical development program of Adva-27a by conducting the following next sequence of steps:
Adva-27a's initial indication will be Pancreatic Cancer for which there are currently little or no treatment options available. We are planning to conduct our clinical trials at McGill University's Jewish General Hospital in Montreal, Canada. All aspects of the clinical trials in Canada will employ FDA standards at all levels.
According to the American Cancer Society, nearly 1.5 million new cases of cancer are diagnosed in the U.S. each year. While particularly effective against Multidrug Resistant Cancer, we believe Adva-27a can potentially treat all cancer types as it is general chemotherapy drug. We believe that upon successful completion of Phase I Clinical Trials we may receive one or more offers from large pharmaceutical companies to buyout or license our drug. However, there are no assurances that our Phase I Trials will be successful, or if successful, that any pharmaceutical companies will make an acceptable offer to us. In the event we do not consummate such a transaction, we will require significant capital in order to manufacture and market our new drug on our own.
Pharmaceuticals Generic Operations
In 2016, our Canadian wholly owned subsidiary, Sunshine Biopharma Canada Inc. ("Sunshine Canada"), signed Licensing Agreements with a major pharmaceutical company for four prescription generic drugs for the treatment of Breast Cancer, Prostate Cancer and Enlarged Prostate. We have since been working towards commencement of marketing of these pharmaceutical products under our own, Sunshine Biopharma, label. :
Sunshine Canada is currently in the process of securing a Drug Identification Number ("DIN") for each of these products from Health Canada. We are also required to obtain a Drug Establishment License ("DEL") from Health Canada. Upon receipt of the DEL and DIN's, we will be able to accept orders for our own label SBI-Anastrozole, SBI-Letrozole, SBI-Bicalutamide and SBI-Finasteride. We cannot estimate the timing for our obtaining either the DIN's or the DEL due to variables involved that are out of our control.
We currently have a number of additional Generic Pharmaceuticals under review for in-licensing. While no assurances can be provided that we will acquire the rights to any additional generic drugs, we believe that a larger product portfolio will provide us with more opportunities and a greater reach into the marketplace.
Various publicly available sources indicate that the worldwide sales of generic pharmaceuticals are approximately $200 billion per year. In the United States and Canada, the sales of generic pharmaceuticals are approximately $50 billion and $5 billion, respectively. The generic pharmaceuticals business is fairly competitive and there are several multinational players in the field including Teva (Israel), Novartis - Sandoz (Switzerland), Hospira (USA), Mylan (Netherlands), Sanofi (France), Fresenius Kabi (Germany) and Apotex (Canada). While no assurances can be provided, with our offering of Canadian approved products we believe that we will be able to access at least a small percentage of the generic pharmaceutical marketplace.
Nutritional Supplements Operations
In December 2018, we completed the development of Essential 9tm, the first in a line of essential micronutrients products that we are planning to launch. On December 14, 2018, Health Canada issued NPN 80089663 through which it authorized Sunshine Biopharma Inc. to manufacture and sell the Essential 9tm product. Our Essential 9tm nutritional supplement tablets contain a balanced formula of the 9 Essential Amino Acids that the human body cannot make. Essential Amino Acids are 9 out of the 20 amino acids required for protein synthesis. Proteins are involved in all body functions - From the musculature and immune system to hormones and neurotransmitters. Like vitamins, Essential Amino Acids cannot be made by the human body and must be obtained through diet. Deficiency in one or more of the 9 Essential Amino Acids can lead to loss of muscle mass, fatigue, weight gain and reduced ability to build muscle mass in athletes. Sunshine Biopharma's Essential 9tm provides all 9 Essential Amino Acids in freeform and in the proportions recommended by Health Canada. Essential 9tmis currently available on Amazon.com and Amazon.ca.
In November 2019, we received Health Canada approval for another nutritional supplement, a new Calcium-Vitamin D tablets. Health Canada issued NPN 80093432 through which it authorized us to manufacture and sell the new Calcium-Vitamin D supplement under the brand name Essential Calcium-Vitamin D(TM).
Vitamin D is a group of steroid-like molecules responsible for increasing intestinal absorption of calcium, magnesium, and phosphate. They are also involved in multiple other biological functions, including promoting the healthy growth and remodeling of bone, cell growth, neuromuscular and immune functions, and reduction of inflammation. The most important compounds in this group are Vitamin D2 (ergocalciferol) and Vitamin D3 (cholecalciferol). Sunshine Biopharma's Essential Calcium-Vitamin D(TM) tablets contain both of these compounds as well as Calcium for optimum health benefits. We anticipate that Essential Calcium-Vitamin D(TM) will be available on Amazon.ca in the third quarter of 2020.
Discontinued Analytical Chemistry Services Operations
On January 1, 2018, we acquired all of the issued and outstanding shares of Atlas Pharma Inc. ("Atlas"), a privately held Canadian company providing analytical chemistry testing services ("Atlas Business"). The purchase price for the shares was $848,000 Canadian ($676,748 US). The purchase price included a cash payment of $100,500 Canadian ($80,289 US), plus the issuance of 50,000 shares of the Company's Common Stock valued at $238,000, and a promissory note in the principal amount of $450,000 Canadian ($358,407 US), with interest payable at the rate of 3% per annum ("Atlas Note").
Effective April 1, 2019, we disposed of Atlas by re-assigning all of our stock in Atlas back to the original owner in exchange for the Atlas Note. As a consequence of the sale, the operating results and the assets and liabilities of the discontinued Atlas Business are presented separately in the Company's financial statements as Discontinued Operations. In additions, prior period balances have been reclassified to present the operations of the Atlas Business as Discontinued Operations.
Results Of Operations
Comparison of Results of Operations for the Six Months ended June 30, 2020 and 2019
During the six months ended June 30, 2020, we generated revenues of $26,247 from the sale of products generated by our Nutritional Supplements Operations which we launched in March 2019. The direct cost for generating these revenues was $9,044. We generated $3,239 in revenues during the comparable period in 2019, which included a little over three months of sales activities. The direct cost for generating these revenues was $1,572.
General and Administrative Expenses during the six months ended June 30, 2020 was $183,471, compared to $190,073 during the six months ended June 30, 2019, a decrease of $6,602. The reason for this relatively small decrease was due to our continuing effort to reduce expenses across the board. In terms of specific expense categories that saw a relatively large change were executive compensation which increased by $11,878 due to the issuance of Series B Preferred Stock to our CEO and consulting which decreased by $18,108 owing to our ongoing cost cutting effort.
We incurred $550,390 in losses arising from debt conversion during the six months ended June 30, 2020, compared to $65,094 in losses from debt conversion during the similar period in 2019. This large increase was due to the specific structure of our convertible debt combined with recent volatility in our stock price. We also incurred $36,719 in interest expense during the six months ended June 30, 2020, compared to $64,639 in interest expense during the similar period in 2019. The decrease was a result of a more rapid rate of conversion by our debt holders. In addition, we incurred $582,237 in losses from discontinued operations during the six month ended June 30, 2019 as a result of the sale of Atlas Pharma Inc. and termination of our Analytical Chemistry Services Operations. We did not incur this loss during the similar period in 2020.
As a result, we incurred a Net Loss of $732,572 ($0.01 per share) during the six month period ended June 30, 2020, compared to a net loss of $913,432 ($0.07 per share) during the six month period ended June 30, 2019.
Comparison of Results of Operations for the Three Months Ended June 30, 2020 and 2019
During the three months ended June 30, 2020, we generated $15,145 in revenues, compared to $3,033 in revenues for the same three months period of 2019, an increase of $12,112. All of these revenues were generated from our new Nutritional Supplements Operations which we launched in March 2019. The direct cost for generating these revenues was $5,161 for the period ended June 30, 2020, compared to $1,460 for the same period in 2019. Our gross profit increased to $9,984 for the period ended June 30, 2020, compared to a gross profit of $1,573 for the same period in 2019.
General and Administrative expenses during the three month period ended June 30, 2020 were $138,553, compared to General and Administrative expense of $67,770 incurred during the three month period ended June 30, 2019, an increase of $70,783. Nearly all categories of our General and Administrative expenses saw an increase during the three month period ended June 30, 2020, compared to the same period in 2019, except for consulting which decreased by $8,756. The expense categories that increased included accounting fees by $13,060, legal fees by $14,038, office expenses by $4,633, and officer and director compensation by $48,249. The increase in officer and director compensation was due to the issuance of Series B Preferred Stock to our CEO. Overall, we incurred a loss of $138,553 from our operations in the three month period ended June 30, 2020, compared to a loss of $67,770 in the similar period of 2019.
In the area of other expenses, we incurred $20,363 in interest expense during the three months ended June 30, 2020, compared to $18,342 in interest expense during the similar period in 2019. In addition, we incurred $498,997 in losses arising from debt conversion during the three months ended June 30, 2020, compared to $42,786 in losses from debt conversion during the similar period in 2019.
As a result, we incurred a net loss of $638,313 ($0.01 per share) for the three month period ended June 30, 2020, compared to a net loss of $710,890 ($0.03 per share) during the three month period ended June 30, 2019.
Liquidity and Capital Resources
As of June 30, 2020, we had cash or cash equivalents of $85,593.
Net cash used in operating activities was $113,050 during the six month period ended June 30, 2020, compared to $281,423 for the six month period ended June 30, 2019. We anticipate that overhead costs and other expenses will increase in the future as we move forward with our Proprietary Drug Development activities and expansion of ourGeneric Pharmaceuticals and Nutritional Supplements operations discussed above.
Cash flows provided by financing activities were $159,007 for the six month periods ended June 30, 2019, compared to $219,428 during the six months ended June 30, 2019. Cash flows used in investing activities were $-0- for both the six month period ended June 30, 2020, compared to $12,976 during the six month period ended June 30, 2019.
During the six months ended June 30, 2020, we issued a total of 156,390,606 shares of our Common Stock valued at $807,909 for the conversion of outstanding notes payable, reducing the debt by $230,074 and interest payable by $27,445 and generating a loss on conversion of $550,390.
During the six month period ended June 30, 2019, we issued a total of 931,751 shares of our Common Stock valued at $151,169 for the conversion of outstanding notes payable, reducing debt by $83,000 and interest payable by $3,841 and generating a loss on conversion of $65,094.
During the six months ended June 30, 2020, we did not sell any of our capital stock for cash; however, we entered into the following new debt arrangements:
On April 27, 2020, we received a Paycheck Protection Program loan in the principal amount of $50,655 from the US Small Business Administration as part of the US government's COVID-19 relief program. This loan accrues interest at the rate of 1% per annum. We are obligated to make payments of principal and interest totaling $2,133 each month commencing November 27, 2020, with any remaining balances due and payable on or before April 27, 2022. The proceeds derived from this loan may only be used for payroll costs, interest on mortgages, rent and utilities ("Admissible Expenses"). In addition, the Paycheck Protection Program provides for conditional loan forgiveness if we utilize at least 75% of the proceeds from the loan to pay Admissible Expenses. As of the date of this Report, all of the proceeds from this loan have been utilized for Admissible Expenses and we believe that we will qualify for forgiveness of the entire amount of the loan.
On June 1, 2020, we received monies in exchange for a Note Payable having a Face Value of $42,000 with interest accruing at 8% is due June 1, 2021. The Note is convertible after 180 days from issuance into Common Stock at a price 35% below market value.
On June 9, 2020, we received monies in exchange for a Note Payable having a Face Value of $37,000 with interest accruing at 8% is due June 9, 2021. The Note is convertible after 180 days from issuance into Common Stock at a price 35% below . . .
Aug 19, 2020
https://www.marketwatch.com/press-release/10-q-sunshine-biopharma-inc-2020-08-19
COMTEX_369690670/2041/2020-08-19T13:22:21
Very good news. Hang on fixing to make history.
Only the best for each of us.
8K posted on Sunshines web site.
Only the best to each of us. Still holding strong.