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merlin, the web address is a summary of the stock I follow on stockcharts. You will see Market Caps last on the right before the dates.
https://stockcharts.com/def/servlet/Favorites.CServlet?obj=1413364,1&cmd=show,IDAY[Y]&disp=b
merlin, thanks for you MJNA post. I'm interested in your thoughts regarding Market Caps information on StockCharts? I have set up your info on Excel and added MrkCaps to my report. GLTA
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
CERTAIN FORWARD-LOOKING INFORMATION
Information provided in this Quarterly report on Form 10Q may contain forward-looking statements within the meaning of Section 21E or Securities Exchange Act of 1934 that are not historical facts and information. These statements represent the Company’s expectations or beliefs, including, but not limited to, statements concerning future and operating results, statements concerning industry performance, the Company’s operations, economic performance, financial conditions, margins and growth in sales of the Company’s products, capital expenditures, financing needs, as well assumptions related to the forgoing. For this purpose, any statements contained in this Quarterly Report that are not statement of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based on current expectations and involve various risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. The Company’s financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by the Company with the Securities and Exchange Commission. All references to” We”, “Us”, “Company” or the “Company” refer to Regen BioPharma, Inc.
As of September 30, 2021 we had Cash of $727,162 and as of March 31,2022 we had cash of $234,674.The decrease in cash of approximately 68% is primarily attributable to the payment of $218,529 in satisfaction $94,537 of convertible indebtedness and $28,973 of accrued interest on convertible indebtedness offset by funds expended in operation of the Company’s business.
As of September 30, 2021 we had Accounts Receivable, Related Party of $213,192 and as of March 31, 2022 we had Accounts Receivable, Related Party of $ 268,042. The increase of approximately 25.73% is attributable to the accrual during the quarter ended December 31,2021 of $27,425 of minimum royalties and anniversary fees pursuant to a license granted to Zander Therapeutics, Inc. by Regen Biopharma, Inc. and the accrual during the quarter ended March 31,2022 of $27,425 of minimum royalties and anniversary fees pursuant to a license granted to Zander Therapeutics, Inc. by Regen Biopharma, Inc.
As of September 30, 2021 we had Prepaid Expenses of $48,144 and as of March 31, 2022 we had prepaid expenses of $34,582. The decrease in Prepaid Expenses of approximately 28.17% is attributable to the recognition of expenses incurred over the six months resulting from an agreement to provide Research and Development services which was prepaid during the quarter ended September 30, 2021. The term of the agreement is from July 1, 2021 to July 1, 2023. The total consideration due of $55,000 was paid to the contractor as of July 1, 2021 and is being expensed over the term of the agreement.
As of March 31 , 2022 we had Investment Securities ( Not Related Party) of $67,710 and as of September 30,2021 we had Investment Securities (Not Related Party) of $198,006. As of March 31, 2022 18,300 common shares of Oncology Pharma, Inc. constitute the sole investment securities other than shares of Zander Therapeutics, Inc. held by the Company. On March 31, 2022 the Company revalued 18,300 common shares of Oncology Pharma, Inc. at the closing price of the common shares on the OTC Pink market resulting in the recognition of a decrease in fair value of 65.8% as compared to September 30, 2021.
As of March 31, 2022 we had Accounts Payable of $41,629 and as of September 30, 2021 we had Accounts Payable of $91,498. The decrease in Accounts Payable of approximately 54.5% is primarily attributable to the derecognition of $62,700 of payables for which recovery is barred by the statute of limitations imposed under California Code of Civil Procedure §337.
As of March 31, 2022 we had Accrued Interest Payable of $664,787 and as of September 30, 2021 we had Accrued Interest Payable of $954,861.
The decrease in Accrued Interest Payable of approximately 30.38% is primarily attributable to the conversion during the quarter ended December 31, 2021 of $298,964 of interest accrued but unpaid on Convertible Notes issued by the Company and the satisfaction of $28,973 of interest accrued but unpaid in cash offset by additional interest accrued but unpaid during the six months ended December 31, 2021 on Notes Payable and Convertible Notes Payable.
As of September 30, 2021 we had Notes Payable of $1,429,179 and as of March 31, 2022 we had Notes Payable of $227. The decrease in Notes Payable of 99.9% is attributable to the reclassification of a Note in the principal amount of $1,500,000 (net of unamortized Original Issue Discount (“OID”) as a Convertible Note Payable. Such reclassification occurred as a result of the Company’s failure to make a required payment such failure triggering the conversion feature.
As of September 30, 2021 we had total Convertible Notes Payable of $2,152,811 and as of March 31, 2022 we had total Convertible Notes Payable of $2,997,270. The increase in total Convertible Notes Payable of 28.1 % is attributable to the following:
The satisfaction of $785,964 of principal convertible indebtedness through the issuance of equity securities during the quarter ended December 31, 2021
The settlement of $94,537 of principal convertible indebtedness through cash payments during the quarter ended December 31, 2021
The reclassification during the quarter ended March 31, 2022 of $1,724, 960 ( net of unamortized discount and including a $300,000 penalty incurred due to a the failure of the Company to make a required payment to the lender) of principal indebtedness as convertible debt.
As of March 31, 2022 we had a Derivative Liability of $70,561,820 and as of September 30, 2021 we had a Derivative Liability of $6,892,477. The increase in Derivative Liability of approximately 924% is attributable to the recognition by the Company of embedded derivatives on Convertible Notes Payable with an aggregate face value of $2,714,080 outstanding as of March 31, 2022.
. Material Changes in Results of Operations
Revenues from continuing operations were $58,369 for the quarter ended March 31,2022 and $27,425 for the same period ended 2021. The increase of approximately 112% is attributable to $30,945 of revenue recognized during the quarter ended March 31, 2022 pursuant to a license granted to Oncology Pharma,Inc. Operating Loss was $76,494 for the quarter ended March 31,2022 whereas Operating Loss was $12,973 for the same quarter ended 2021; an increase primarily attributable to revenue recognized during the quarter ended March 31,2022 pursuant to a license granted to Oncology Pharma Inc. as well as materially lower operating expenses recognized during the quarter ended March 31,2021 as compared to March 31,2022.
Net Loss was $67,081,589 for the quarter ended March 31, 2022 versus Net Income of $442,183 recognized during the same period ended 2021. This was primarily attributable to a Derivative Loss recognized during the quarter ended March 31, 2022.
Revenues from continuing operations were $117,434 for the six months ended March 31,2022 and $54,849 for the same period ended 2021. The increase of approximately 114% is attributable to $62,584 of revenue recognized during the six months ended March 31, 2022 pursuant to a license granted to Oncology Pharma,Inc. Operating Loss was $182,917 for the six months ended March 31,2022 whereas Operating Loss was $31,453 for the same period ended 2021; an increase primarily attributable to revenue recognized during the six months ended March 31,2022 pursuant to a license granted to Oncology Pharma Inc. as well as materially lower operating expenses recognized during the six months ended March 31,2021 as compared to March 31,2022.
Net Loss was $64,436,609 for the six months ended March 31, 2022 versus Net Income of $2,108,549 recognized during the same period ended 2021. This was primarily attributable to a Derivative Loss recognized during the six months ended March 31, 2022.
As of March 31, 2022 we had $234,674 in cash on hand and current liabilities of $77,280,399 such liabilities consisting of Accounts Payable, Notes Payable, Convertible Notes Payable , Derivative Liability Recognized, bank overdraft Unearned Income and Accrued Expenses. We feel we will not be able to satisfy our cash requirements over the next twelve months and shall be required to seek additional financing.
As of March 31, 2022 the Company was not party to any binding agreements which would commit Regen to any material capital expenditures.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
As a smaller reporting company, as defined by Rule 229.10(f) (1) of Regulation S-K, we are not required to provide the information required by this Item. We have chosen to disclose, however, that we have not engaged in any transactions, issued or bought any financial instruments or entered into any contracts that are required to be disclosed in response to this item.
Item 4. Controls and Procedures.
Evaluation of Disclosure Controls and Procedures
As of the end of the period covered by this report, the Company carried out an evaluation, under the supervision and with the participation of David Koos, who is the Company’s Principal Executive Officer and Principal Financial Officer of the effectiveness of the design and operation of the Company’s disclosure controls and procedures. The Company’s disclosure controls and procedures are designed to provide a reasonable level of assurance of achieving the Company’s disclosure control objectives. The Company’s Principal Executive Officer and Principal Financial Officer have concluded that the Company’s disclosure controls and procedures are, in fact, effective at this reasonable assurance level as of the period covered.
Changes in Internal Controls over Financial Reporting
In connection with the evaluation of the Company’s internal controls during the period commencing on January 1, 2022 and ending on March 31, 2022, David Koos, who serves as the Company’s Principal Executive Officer , Principal Financial Officer has determined that there were no changes to the Company’s internal controls over financial reporting that have been materially affected, or is reasonably likely to materially effect, the Company’s internal controls over financial reporting.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings.
None
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On March 28, 2022 the Company issued 16,000,000 common shares (“Shares”) in satisfaction of $48,420 of convertible indebtedness and $39,708 of accrued interest on convertible indebtedness.
On April 4, 2022 the Company issued 40,000,000 common shares ( “Shares”)in satisfaction of $218,617 of convertible indebtedness and $1,702 of accrued interest on convertible indebtedness.
On April 7, 2022 the Company issued 100,000,000 common shares in satisfaction of $550,161 of convertible indebtedness and $639 of accrued interest on convertible indebtedness
All the abovementioned securities were issued pursuant to Section 4(a) (2) of the securities Act of 1933, as amended (the “Act”). No underwriters were retained to serve as placement agents for the sale. The securities were sold directly through our management. No commission or other consideration was paid in connection with the sale of the securities. There was no advertisement or general solicitation made in connection with this Offer and Sale of securities.
Item 3. DEFAULTS UPON SENIOR SECURITIES
tigerpac, here is your other news article. Thanks for posting them.
Renovations approved for new Buck Lake Bar - By Hailee Lepley Jan 19, 2022
McCool's
The building at 114 N. Elizabeth St., previously McCool’s Tavern, will experience some structural renovations as it transitions to Buck Lake Bar and Grill under its new owner, Marvin Baker.
ANGOLA — The old McCool’s Tavern building is getting a facelift as part of its transition to the Buck Lake Bar and Grill.
Marvin Baker, owner of Buck Lake Ranch Camping and Entertainment, L.L.C. who bought the historical building in November, was approved for a Facade Grant from the Angola Common Council on Monday for renovations.
The grant will provide up to $5,000 to assist Baker in refreshing the old architecture.
Current renovation plans include:
• Painting exterior siding white;
• Exchanging current window and door awnings with black and white rectangular replacements;
• Replacing two exterior doors with black steel-framed entry doors with glass panels;
• Adding black metal raised rib roofing on the north side of the building;
• Removing existing lights and adding black metal outdoor barn lights;
• Adding two exterior metal-framed windows to the north side of the building;
• Removing McCool’s signage and installing Buck Lake Bar and Grill steel signage to front and back of building, and;
• Replacing existing garage door with black metal-framed overhead garage door with glass panels.
While Baker now has the greenlight for renovations, supply chain delays may result in delayed operations.
He hopes to have the facility back up and running in February.
The City of Angola Facade Grant Program is an initiative designed to assist downtown businesses with protecting the architectural heritage and existing buildings’ facades within the designated Downtown Historic Commercial District.
The program offers a maximum of $5,000 per applicant, depending on the type of improvement, and all grants depend on a dollar-for-dollar match by the property owner or tenant.
https://www.kpcnews.com/heraldrepublican/article_23909726-de00-53ff-aa5c-be908c5c1b57.html
Thanks for the news tigerpac. If I were to guess, I would say that McCool will fold into BGTV and be controlled by Mr. Baker. I will spell it out here so it will be on LIGA's I-Hub Board:
McCool's transitioning to Buck Lake - Jan 6, 2022
ANGOLA, IN — The Historic Preservation Commission approved various renovations for the property at 114 N. Elizabeth St., formerly known as McCool’s Tap Room, on Tuesday.
McCool’s owners Connie and Todd Gorman sold the long-time bar in November to Marvin Baker, owner of Buck Lake Ranch Camping and Entertainment, L.L.C., who will be turning the place into Buck Lake Bar and Grill.
Sandy Hagan, a real estate agent with Rez-Com Properties, has experience renovating old buildings and will be assisting Baker with the property.
“When we were looking at McCool’s, we deemed it a pool barn if you will, and we wanted to bring it back to something that had a little more nostalgia to it,” Hagan said. “We’re really wanting to make it fit with the other things that we see in downtown Angola and improve the look a little bit.”
Due to Buck Lake Ranch’s location, Baker is unable to put a commercial kitchen out there. As such, aside from enhancing the bar, Baker intends to use the kitchen in the old McCool’s building in order to provide catering for the campground.
Baker will also be able to use the property’s liquor license for special events at Buck Lake Ranch.
However, it may be a little longer yet until Buck Lake Bar and Grill is up and running. Thanks to supply chain delays, Baker and Hagan predict that it may take weeks more than usual to get the resources they need for renovations.
“We’re looking at February,” Baker said. “The only thing slowing us up is some of the vendors.”
“We may have to open and then finish doing some things after,” Hagan said.
Baker and Hagan are also on the lookout for a chef to run the kitchen.
Thankfully, Baker said that Connie, who has worked at McCool’s for nearly 30 years, plans to stay on with the bar for at least another six months.
“Connie did a great job all by herself, so we’re using that as a foundation, but we’re wanting to do a little bit more,” Hagan said.
https://www.kpcnews.com/heraldrepublican/article_e14869c3-8d04-5d30-bf1d-96d1319eff8e.html
Randy, I agree. The ForeverBoard is the product that will generate Revenue for LIGA, so the more ForeverBoard LIGA produces, the higher LIGA's PPS will go. Go LIGA! GLTA
MJNA's Annual Report is out:
https://www.otcmarkets.com/otcapi/company/financial-report/325964/content
nilremerlin, thanks for listening to the discussion on legalizing marijuana and letting us know how it ended up. GLTA
It would have been nice if their year ended in December like most other companies.
Monroe1, thanks for the encouraging words regarding LIGA. We need all the great words we can get right now. GLTA
bigtalan, RGBP's year ended 9/30/2021 and their 10-K was filed on 12/22/2021. Their first quarter of 2022 ended on 12/31/2021 and the 10-Q for that quarter was filed on 1/20/2022, so it was filed on time. Everything is good. GLTA
https://www.otcmarkets.com/stock/RGBP/disclosure
If Marv Baker is thinking about spinning off BGTV, he is going about it all wrong. Marv has been in the BGTV business for a long time and is very successful at it. Marv is not successful at being a “Leader in Green Assets”. Here is why:
1. Brentwood is a thing of the past and there is no talk of a new community development.
2. We have not heard about “Horton” for a long time.
3. Foreverboard will take a long time to get off the ground.
Marv needs to concentrate on the BDTV business along with the fish storage and Buck Lake Range, while changing the name of the company to something that represents the primary business of the company, BGTV. If Forever Board ever becomes successful, it can be spun-off as LIGA or SMEV.
AIMO
Looks like PKTX's activity is heating up. Let's go. GLTA
LIGA issued their 2020 10-K for the first time on 3/26/2021. If that holds true, we should see LIGA's 2021 10-K sometime next week.
Sorry for the double post!
Past and Present, please post the address to the "Linkedin" site for Protokinetix. Thanks!
LIGA is a big ? mark? Why is Marvin Baker pulling away from LIGA?
IMO, it looks like Marvin Baker plans to spin off BGTV, Buck Lake Ranch and the fish storage business which he would run in the future.
This would leave Forever Board as the sole product of LIGA to be ran by Dakota Forgione.
Does anyone see this differently?
Why did LIGA get involved in trying to build a "shell" company "SMEV" when they stated that they were going to hire an Audit Firm and build LIGA into an OTCQB company? What happened?
Here is a February 2022 short sales report for LIGA:
https://www.otcshortreport.com/company/LIGA
Hope Marv Baker issues solid LIGA news soon to get rid of the shorts.
hawk, thanks for the excellent summary of what LIGA is all about! GLTA
Beam, I am glad to see you put in a word for Marvin Baker. I met Mr. Baker at Angola, IN LIGA Annual Conference and was extremely impress with his knowledge and drive. Go LIGA!
Randy1111, the thing that worries me the most about LISA is who will have control of Liga, BGTV and SMEV when they are split up. Will Marv Baker still control LIG Assets (LIGA), or will he only control BGTV and SMEV, while someone else runs and controls LIG Assets (Forever Board, Horton World Solutions) after it is split way from BGTV? Mr. Baker hints about a split but hasn't given any details about how this will happen.
I agree that people should be able to grow their own marijuana plants. I have friends who use CBD for pain and no longer smoke cigarettes or drink alcohol. They are much healthier and happier.
MJNA issued a PR on Nov. 6, 2020 regarding:
"Kannalife, Inc. rebrands as "Neuropathix, Inc. and unveils new ticker Symbol" (NPTX).
I don't have the website.
The following is from the 9/30/2021 10-Q which was released on 10/18/2021:
That would be nice. I hope we get news soon!
I received the following from my brokerage house:
PROTOKINETIX,INC.
2022 Annual Meeting
To be held Friday, February 11, 2022
Meeting Agenda
Vote by February 10, 2022 11:59 p.m. EST
Documents to Review Before You Vote:
Annual Report Annual Report(pdf)
Proxy Statement Proxy Statement(pdf)
Request Printed Materials for this Meeting
Proposal(s)
For holders as of Wednesday, December 22, 2021. Votes can be changed until the voting deadline.
How is Carey Cooley?
Yes Randy1111 to you and to all LIGA investors, may we all be happy with LIGA's success in the new year.
Looks like $0.06 is $LIGA's bottom. I'm ready for some LIGA news in 2022.
Thanks P&P. Have a Merry Christmas. Looking forward to a successful $PKTX 2022!
Good morning ChannelTrader and thank you. I'm looking forward to LIGA in 2022. Things are coming together and it should be a great year.
All I'm saying is that Buck Lake Ranch entertainment is a very small and new part of LIGA's business. LIGA has eight lines of business.
They are Forever Board, Ecoplast Homes, Robert Plarr Homes, Horton World Solutions, LIG Developments, BGTV Direct, Live Stor America and Buck Lake Ranch. Only Buck Lake Ranch is affected by the winter weather, IMO.
In the September 30, 2021 10-Q Summary, it states:
How do you know that the Buck Lake Ranch property is closed? Do you live in the area or have a picture of Buck Lakes' gates closed? TIA
Go $LIGA!
Exactly!
$LIGA will be making major strides now. I'm looking forward to 2022. GLTA
LIGA chart looks beautiful to me with the candle above the 10 day average and the $INDU also above it's 10 day average. Things are looking brighter to me. GLTA
LIGA's Chart is looking good!
Thanks for the Instagram link, it took me to Ecoplast Solutions' home page.
https://www.instagram.com/p/CQ_lrb_BEJt/
Great to see $LIGA green today, up 6.25%. Go LIGA!
nilremerlin, I like your VWAP post. Do you have a site that you get the VWAP from or do you do your own calculation? I would like to see VWAP for my other stock. TIA