SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~December~~March 31, ~~2021~~2022

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from

Commission File No. 333-191725

REGEN BIOPHARMA, INC.

(Exact name of small business issuer as specified in its charter)

Nevada	45-5192997
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

4700 Spring Street,St 304, La Mesa, California 91942

(Address of Principal Executive Offices)

619 722-5505

(Issuer’s telephone number)

None

(Former name, address and fiscal year, if changed since last report)

Check whether the issuer (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☐☒ No ☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes ☐ No ☒

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

☐ Large accelerated filer	☐ Accelerated filer
☐ Non-accelerated filer	☒ Smaller reporting company
	☐ Emerging Growth Company

APPLICABLE ONLY TO CORPORATE ISSUERS:

As of ~~June 30, 2021~~April 7, 2022 Regen Biopharma, Inc. had ~~4,564,002,832~~4,736,002,832 common shares outstanding.

As of ~~December 31, 2021~~April 7,2022 Regen Biopharma, Inc. had ~~439,293,006~~439,293,406 shares of Series A Preferred Stock outstanding.

As of ~~December 31, 2021~~April 7, 2022 Regen Biopharma, Inc. had 50,000 shares of Series AA Preferred Stock outstanding.

As of ~~December 31, 2021~~April 7, 2022 Regen Biopharma, Inc. had 44,000,000 shares of Series M Preferred Stock outstanding.

As of ~~December 31, 2021~~April 7, 2022 Regen Biopharma, Inc. had 10,000 shares of Series NC Preferred Stock outstanding

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act):

Yes ☐ No ☒

PART I - FINANCIAL INFORMATION

Item 1. - Financial Statements


REGEN BIOPHARMA , INC.
CONDENSED CONSOLIDATED BALANCE SHEETS


	As of March 31, 2022			As of September 30, 2021
	(Unaudited)
ASSETS
CURRENT ASSETS
Cash	$	234,674		$	727,162
Accounts Receivable, Related Party		268,042			213,192
Note Receivable, Related Party		5,396			5,396
Accrued Interest Receivable		496			230
Prepaid Expenses		34,582			48,144
Total Current Assets		543,190			994,124
OTHER ASSETS
Investment Securities		67,710			198,006
Investment Securities, Related Party		19,969			19,969
Total Other Assets		87,679			217,975
TOTAL ASSETS	$	630,869		$	1,212,099

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable		41,629			91,498
Notes Payable		227			1,429,179
Accrued payroll taxes		4,241			4,241
Accrued Interest		664,787			954,861
Accrued Rent		—			0
Accrued Payroll		1,266,679			1,266,679
Other Accrued Expenses		41,423			41,423
Bank Overdraft		1,000			1,000
Due to Investor		20,000			20,000
Unearned Income		1,781,222			1,843,806
Derivative Liability		70,561,820			6,892,477
Convertible Notes Payable Less unamortized discount		2,987,270			2,131,311
Convertible Notes Payable, Related Parties Less unamortized discount		10,000			21,500
Total Current Liabilities		77,380,299			14,697,976
Long Term Liabilities:
Convertible Notes Payable, Related Parties Less unamortized discount		—			0
Total Long Term Liabilities
Total Liabilities		77,380,299			14,697,976

STOCKHOLDERS' EQUITY (DEFICIT)
Common Stock ($.0001 par value) 500,000,000 shares authorized; 5,800,000,000 authorized and 4,580,002,832 issued and outstanding as of March 31,2022 and 4,800,000,000 authorized and 4,350,554,514 shares issued and outstanding as of September 30 ,2021.		457,999			435,054
Preferred Stock, 0.0001 par value, 800,000,000 authorized as of		—			—
March 31,2022 and September 30,2021 respectively		—			—
Series A Preferred 300,000,000 authorized as of September 30,2021 and 540,000,000 authorized as of March 31, 2022; 439,293,406 and 431,998,817 outstanding as of March 31,2022 and September 30, 2021 respectively		43,929			43,200
Series AA Preferred $0.0001 par value 600,000 authorized and 50,000 and 50,000 outstanding as of March 31, 2022 and September 30,2021 respectively		5			5
Series M Preferred $0.0001 par value 300,000,000 authorized and 44,000,000 outstanding as of September 30,2021 and 60,000,000 authorized and 44,000,000 outstanding as of March 31, 2022		4,400			4,400
Series NC Preferred $0.0001 par value 20,000 authorized and 10,000 outstanding as of September 30, 2021 and March 31,2022 respectively		1			1
Additional Paid in capital		9,793,419			8,644,037
Contributed Capital		736,326			736,326
Retained Earnings (Deficit)		(87,785,509	)		(23,348,900	)
Total Stockholders' Equity (Deficit)		(76,749,430	)		(13,485,877	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	630,869		$	1,212,099

The Accompanying Notes are an Integral Part of These Financial Statements


REGEN BIOPHARMA , INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
( Unaudited)

		Quarter Ended March 31, 2022			Quarter Ended March 31, 2021			Six Months Ended March 31, 2022			Six Months Ended March 31, 2021
REVENUES
Revenues	$	30,945		$	—		$	62,584		$	—
Revenues, Related Party		27,425			27,425			54,849			54,849
TOTAL REVENUES		58,369			27,425			117,434			54,849
COST AND EXPENSES
Research and Development		27,390			512			62,809			1,639
Research and Development, Related Party		36,975			0			117,250			0
General and Administrative		5,355			39,886			12,013			84,664
Consulting and Professional Fees		50,143			0			88,279			0
Rent		15,000			0			20,000			0
Total Costs and Expenses		134,863			40,398			300,351			86,303
OPERATING INCOME (LOSS)	$	(76,494	)	$	(12,973	)	$	(182,917	)	$	(31,453	)

OTHER INCOME & (EXPENSES)
Interest Income		131			0			266			0
Interest Expense		(42,561	)		(65,247	)		(77,571	)		(138,459	)
Interest Expense attributable to Amortization of Discount		(21,977	)		(9,932	)		(44,428	)		(46,649	)
Penalties		(300,000	)		0			(300,000	)		0
Unrealized Gain ( Loss) on sale of Investment Securities		(6,405	)		0			(130,296	)		0
Gain (Loss) on derecognition of Accounts Payable		0			0			62,700			0
Derivative Income (Expense)		(66,634,282	)		530,335			(63,669,343	)		2,325,111
Gain (Loss) on Extinguishment Convertible Debt		0			—			(95,019	)		0
TOTAL OTHER INCOME (EXPENSE)		(67,005,095	)		455,156			(64,253,692	)		2,140,002

NET INCOME (LOSS)	$	(67,081,589	)	$	442,183		$	(64,436,609	)	$	2,108,549
NET INCOME (LOSS) attributable to common shareholders	$	(67,081,589	)	$	382,046		$	(64,436,609	)	$	1,821,787

BASIC AND FULLY DILUTED EARNINGS (LOSS) PER SHARE	$	(0.015	)	$	0.0002		$	(0.014	)	$	0.00086
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING		4,564,542,158			2,457,641,499			4,535,585,981			2,125,778,002

The Accompanying Notes are an Integral Part of These Financial Statements

REGEN BIOPHARMA , INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

As of As of
December 31, 2021
(Unaudited) September 30, 2021
ASSETS
CURRENT ASSETS
Cash $ 353,492 $ 727,162
Accounts Receivable, Related Party 240,617 213,192
Note Receivable, Related Party 5,396 5,396
Accrued Interest Receivable 365 230
Prepaid Expenses 41,288 48,144
     Total Current Assets 641,157 994,124

OTHER ASSETS
Investment Securities 74,115 198,006
Investment Securities, Related Party 19,969 19,969
Total Other Assets 94,084 217,975

TOTAL ASSETS $ 735,241 $ 1,212,099
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable 32,288 91,498
Notes Payable 1,451,630 1,429,179
Accrued payroll taxes 4,241 4,241
Accrued Interest 661,934 954,861
Accrued Rent 0 0
Accrued Payroll 1,266,679 1,266,679
Other Accrued Expenses 41,423 41,423
Bank Overdraft 1,000 1,000
Due to Investor 20,000 20,000
Unearned Income 1,812,166 1,843,806
Derivative Liability 3,927,538 6,892,477
Convertible Notes Payable Less  unamortized discount 1,262,310 2,131,311
Convertible Notes Payable, Related Parties Less  unamortized discount 10,000 21,500
Total Current Liabilities 10,491,210 14,697,976
Long Term Liabilities:
Convertible Notes Payable, Related Parties Less  unamortized discount 0
Total Long Term Liabilities
Total Liabilities 10,491,210 14,697,976

STOCKHOLDERS' EQUITY (DEFICIT)
Common Stock ($.0001 par value) 500,000,000 shares authorized; 4,800,000,000 authorized and  4,564,002,832 issued and outstanding as of December 31,2021 and 4,800,000,000 authorized and 4,350,554,514 shares issued and outstanding as of September 30 ,2021. 456,399 435,054
Preferred Stock, 0.0001 par value, 800,000,000 authorized as of December 31,2021  and September 30,2021 respectively - -
Series A Preferred 300,000,000 authorized, 439,293,406 and 431,998,817 outstanding as of  December 31,2021 and September 30, 2021 respectively 43,929 43,200
Series AA Preferred $0.0001 par value 600,000 authorized and 50,000 and 50,000   outstanding as of December 31,2021 and September 30,2021 respectively 5 5
Series M Preferred $0.0001 par value 300,000,000 authorized and  44,000,000 outstanding as of September 30,2021 and December 31, 2021 respectively 4,400 4,400
Series NC Preferred $0.0001 par value 20,000 and 0 authorized and 10,000 and 0  outstanding as of September 30, 2021 and December 31,2021 respectively 1 1
Additional Paid in capital 9,706,891 8,644,037
Contributed Capital 736,326 736,326
Retained Earnings (Deficit) (20,703,920 ) (23,348,900 )
Total Stockholders' Equity (Deficit) (9,755,969 ) (13,485,877 )
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $ 735,241 $ 1,212,099

The Accompanying Notes are an Integral Part of These Financial Statements


REGEN BIOPHARMA , INC.
Condensed Consolidated Statement of Shareholder's Deficit
(Unaudited)


	Series A Preferred				Series AA Preferred				Series NC Preferred				Common				Series M Peferred
	Shares		Amount		Shares		Amount		Shares		Amount		Shares		Amount		Shares		Amount		Additional Paid-in Capital			Retained Earnings			Contributed Capital		Total
Balance September 30, 2020		381,768,689	$	38,177		50,000		5		—				1,605,000,246	$	160,498		44,000,000	$	4,400	$	8,313,876		$	(16,583,666	)	$	731,711	$	(7,334,998	)
Shares issued for Debt														57,726,183		5,773						(2,021	)							3,752
Shares Issued For Interest														22,339,663		2,234						(782	)							1,452
Shares issued for Debt														60,007,919		6,001						(2,101	)							3,900
Shares Issued For Interest														23,926,234		2,393						(838	)							1,555
Shares issued for Debt														60,834,498		6,083						1,217								7,300
Shares Issued For Interest														26,185,501		2,619						523								3,142
Shares issued for Debt														3,300,000		330						99								429
Shares Issued For Interest														1,819,077		182						54								236
Shares issued for Fees														1,228,077		123						36								159
Shares issued for Debt														62,003,571		6,200						(2,170	)							4,030
Shares Issued For Interest														26,155,352		2,616						(916	)							1,700
Shares issued for Debt														68,333,539		6,833						1,367								8,200
Shares Issued For Interest														14,883,378		1,488						212								1,700
Shares issued for Debt		20,000,437		2,000																		11,000								13,000
Shares Issued For Interest		12,378,732		1,238																		6,808								8,046
Shares Issued for Debt														88,888,889		8,889						7,111								16,000
Shares Issued For Interest														19,555,555		1,956						1,294								3,250
Shares issued for Debt														82,004,603		8,200						(2,870	)							5,330
Shares Issued For Interest														35,832,781		3,583						(1,254	)							2,329
Additions to Contributed Capital										—		—																1,865		1,865
Net Loss		—		—		—		—						—		—		—		—		—			1,666,367			—		1,666,367
Balance December 31, 2020		414,147,858	$	41,415		50,000		5		—				2,260,025,066	$	226,001		44,000,000	$	4,400	$	8,330,646		$	(14,917,299	)	$	733,576	$	(5,581,256	)
shares issued for debt														85,900,000		8,590						(3,436	)							5,154
shares issued for interest														88,000,000		8,800						(4,400	)							4,400
shares issued for debt														71,430,421		7,143						22,857								30,000
shares issued for interest														11,328,865		1,133						3,625								4,758
shares issued for debt														80,928,505		8,093						(2,833	)							5,260
shares issued for interest														38,341,033		3,834						(1,342	)							2,492
shares issued for debt														67,175,355		6,718						(3,361	)							3,357
shares issued for interest														8,824,645		882						(441	)							441
shares issued for debt														16,666,667		1,667						(667	)							1,000
shares issued for interest														95,833,333		9,583						(3,833	)							5,750
shares issued for debt														68,319,520		6,832						(3,417	)							3,415
shares issued for interest														1,680,480		168						(84	)							84
shares issued for debt														38,519,260		3,852						(1,927	)							1,925
shares issued for interest														1,480,740		148						(74	)							74
Additions to Contributed Capital																												250		250
Net Income		—		—		—		—		—		—		—		—		—		—		—			442,183			—		4,421,825,363
Balance March 31, 2021		414,147,858	$	41,415		50,000		5		0		0		2,934,453,890	$	293,444		44,000,000	$	4,400	$	8,331,313		$	(14,475,117	)	$	733,826	$	(5,070,713	)
Balance September 30, 2021		431,998,817	$	43,200		50,000	$	5		10,000	$	1		4,350,554,514	$	435,054		44,000,000	$	4,400	$	8,644,037		$	(23,348,900	)	$	736,326	$	(13,485,877	)
Shares issued for Debt														10,000,000		1,000						99,000								100,000
Shares issued for Interest														2,666,200		267						26,395								26,662
Shares issued for Debt														10,000,000		1,000						99,000								100,000
Shares issued for Interest														3,883,700		388						38,449								38,837
Shares issued for Debt														6,022,971		602						49,398								50,000
Shares issued for Interest														2,361,366		236						19,367								19,603
Shares issued for Debt														15,503,953		1,550						48,450								50,000
Shares issued for Interest														5,759,719		576						17,999								18,575
Shares issued for Interest														23,255,888		2,326						72,674								75,000
Shares issued for Debt														9,945,768		995						31,080								32,075
Shares issued for Interest														7,751,973		775						24,225								25,000
Shares issued for Interest														3,211,178		321						10,035								10,356
Shares issued for Debt														1,000,016		100						24,900								25,000
Shares issued for Interest														355,326		36						8,847								8,883
Shares issued for Debt		4,000,047		400																		49,600								50,000
Shares issued for Interest		1,869,542		187																		23,182								23,369
Shares issued for Debt														10,256,427		1,026						98,974								100,000
Shares issued for Interest														4,082,878		408						39,400								39,808
Shares issued for Debt														8,421,053		842						39,158								40,000
Shares issued for Interest														2,987,789		299						13,893								14,192
Shares issued for Debt														6,250,082		625						49,375								50,000
Shares issued for Interest														2,376,531		238						18,774								19,012
Shares issued for Debt														72,476,800		7,248						3,716								10,964
Shares issued for Debt														1,000,014		100						24,900								25,000
Shares issued for Interest														461,086		46						11,481								11,527
Shares issued for Debt														2,400,000		240						59,760								60,000
Shares issued for Interest														1,017,600		102						25,338								25,440
Shares issued for Debt		1,000,000		100																		24,900								25,000
Shares issued for Interest		425,000		43																		10,583						—		10,625
Net Loss		—		—		—		—		—		—		—		—		—		—		—			2,644,980			—		2,644,980
Balance December 31, 2021		439,293,406	$	43,929		50,000	$	5		10,000	$	1		4,564,002,832	$	456,399		44,000,000	$	4,400	$	9,706,891		$	(20,703,920	)		—	$	(9,755,969	)
Shares Issued for Debt														8,790,790		879						47,541								48,420
Shares Issued for Interest														7,209,210		721						38,987						—		39,708
Net Loss		—		—		—		—		—		—		—		—		—		—		—			(67,081,589	)		—		(67,081,589	)
Balance March 31, 2022		439,293,406	$	43,929		50,000	$	5		10,000		1		4,580,002,832	$	457,999		44,000,000	$	4,400	$	9,793,419		$	(87,785,509	)		—	$	(76,749,430	)

The Accompanying Notes are an Integral Part of These Financial Statements

REGEN BIOPHARMA , INC.
CONDENSED CONSOLIDATED  STATEMENTS OF OPERATIONS
( Unaudited)

Quarter Ended December 31,2021 Quarter Ended December 31,2020
REVENUES
Revenues $ 31,640 $ —
Revenues, Related Party 27,425 27,425
TOTAL REVENUES 59,065 27,425

COST AND EXPENSES
Research and Development 35,418 1,127
Research and Development, Related Party 80,275 0
General and Administrative 6,658 44,778
Consulting and Professional Fees 38,136 0
Rent 5,000 0
Total Costs and Expenses 165,487 45,905
OPERATING INCOME (LOSS) $ (106,423 ) $ (18,480 )

OTHER INCOME & (EXPENSES)
Interest Income 135 0
Interest Expense (35,010 ) (73,212 )

Interest Expense attributable to Amortization of Discount (22,451 ) (36,717 )
Unrealized Gain ( Loss) on sale of Investment Securities (123,891 ) 0
Gain (Loss) on derecognition of Accounts Payable 62,700 0
Derivative Income (Expense) 2,964,939 1,794,776
Gain (Loss) on  Extinguishment Convertible Debt (95,019 ) 0
TOTAL OTHER INCOME (EXPENSE) 2,751,403 1,684,847

NET INCOME (LOSS) $ 2,644,980 $ 1,666,367
NET INCOME (LOSS) attributable to common shareholders $ 2,391,062 $ 1,385,417
BASIC AND FULLY DILUTED EARNINGS (LOSS) PER SHARE $ 0.001 $ 0.000
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 4,506,953,931 1,769,079,104

The Accompanying Notes are an Integral Part of These Financial Statements

REGEN BIOPHARMA , INC.
Condensed Consolidated Statement of Shareholder's Deficit
(Unaudited)
Quarters ended December 31, 2020 and December 31, 2021

Series A Preferred Series AA Preferred Series NC Preferred Common Series M Preferred
Shares Amount Shares Amount Shares Amount Shares Amount Shares Amount Additional Paid-in Capital Retained Earnings Contributed Capital Total
Balance September 30,2020 Balance September 30,2020 381,768,689 $ 38,177 50,000 $ 5 — — 1,605,000,246 $ 160,498 44,000,000 $ 4,400 $ 8,313,876 $ (16,583,666 ) $ 731,711 $ (7,334,998 )
Shares issued for Debt 10/28/2020 Shares issued for Debt 57,726,183 5,773 (2,021 ) 3,752
Shares Issued For Interest 10/28/2020 Shares Issued For Interest 22,339,663 2,234 (782 ) 1,452
Shares issued for Debt 11/6/2020 Shares issued for Debt 60,007,919 6,001 (2,101 ) 3,900
Shares Issued For Interest 11/6/2020 Shares Issued For Interest 23,926,234 2,393 (838 ) 1,555
Shares issued for Debt 12/11/2020 Shares issued for Debt 60,834,498 6,083 1,217 7,300
Shares Issued For Interest 12/11/2020 Shares Issued For Interest 26,185,501 2,619 523 3,142
Shares issued for Debt 12/16/2020 Shares issued for Debt 3,300,000 330 99 429
Shares Issued For Interest 12/16/2020 Shares Issued For Interest 1,819,077 182 54 236
Shares issued for Fees 12/16/2020 Shares issued for Fees 1,228,077 123 36 159
Shares issued for Debt 12/16/2020 Shares issued for Debt 62,003,571 6,200 (2,170 ) 4,030
Shares Issued For Interest 12/16/2020 Shares Issued For Interest 26,155,352 2,616 (916 ) 1,700
Shares issued for Debt 12/17/2020 Shares issued for Debt 68,333,539 6,833 1,367 8,200
Shares Issued For Interest 12/17/2020 Shares Issued For Interest 14,883,378 1,488 212 1,700
Shares issued for Debt 12/17/2020 Shares issued for Debt 20,000,437 2,000 11,000 13,000
Shares Issued For Interest 12/17/2020 Shares Issued For Interest 12,378,732 1,238 6,808 8,046
Shares issued for Debt 12/23/2020 Shares issued for Debt 88,888,889 8,889 7,111 16,000
Shares Issued For Interest 12/23/2020 Shares Issued For Interest 19,555,555 1,956 1,294 3,250
Shares issued for Debt 12/31/2020 Shares issued for Debt 82,004,603 8,200 (2,870 ) 5,330
Shares Issued For Interest 12/31/2020 Shares Issued For Interest 35,832,781 3,583 (1,254 ) 2,329
Additions to Contributed Capital Quarter ended 12/31/2020 Additions to Contributed Capital Quarter ended 12/31/2020 — — — — — 1,865 1,865
Net Loss Quarter Ended December 31,2020 Net Loss Quarter Ended December 31,2020 1,666,367 1,666,367
Balance December 31, 2020 Balance December 31, 2020 414,147,858 $ 41,415 50,000 $ 5 — — 2,260,025,066 $ 226,001 44,000,000 $ 4,400 $ 8,330,646 $ (14,917,299 ) $ 733,576 $ (5,581,256 )
Balance September 30, 2021 Balance September 30, 2021 431,998,817 $ 43,200 50,000 $ 5 10,000 $ 1 4,350,554,514 $ 435,054 44,000,000 $ 4,400 $ 8,644,037 $ (23,348,900 ) $ 736,326 $ (13,485,877 )
Shares issued for Debt 10/1/2021 Shares issued for Debt 10,000,000 1,000 99,000 100,000
Shares issued for Interest 10/1/2021 Shares issued for Interest 2,666,200 267 26,395 26,662
Shares issued for Debt 10/1/2021 Shares issued for Debt 10,000,000 1,000 99,000 100,000
Shares issued for Interest 10/1/2021 Shares issued for Interest 3,883,700 388 38,449 38,837
Shares issued for Debt 10/1/2021 Shares issued for Debt 6,022,971 602 49,398 50,000
Shares issued for Interest 10/1/2021 Shares issued for Interest 2,361,366 236 19,367 19,603
Shares issued for Debt 10/1/2021 Shares issued for Debt 15,503,953 1,550 48,450 50,000
Shares issued for Interest 10/1/2021 Shares issued for Interest 5,759,719 576 17,999 18,575
Shares issued for Interest 10/1/2021 Shares issued for Interest 23,255,888 2,326 72,674 75,000
Shares issued for Debt 10/1/2021 Shares issued for Debt 9,945,768 995 31,080 32,075
Shares issued for Interest 10/1/2021 Shares issued for Interest 7,751,973 775 24,225 25,000
Shares issued for Interest 10/1/2021 Shares issued for Interest 3,211,178 321 10,035 10,356
Shares issued for Debt 10/1/2021 Shares issued for Debt 1,000,016 100 24,900 25,000
Shares issued for Interest 10/1/2021 Shares issued for Interest 355,326 36 8,847 8,883
Shares issued for Debt 10/1/2021 Shares issued for Debt 4,000,047 400 49,600 50,000
Shares issued for Interest 10/1/2021 Shares issued for Interest 1,869,542 187 23,182 23,369
Shares issued for Debt 10/29/2021 Shares issued for Debt 10,256,427 1,026 98,974 100,000
Shares issued for Interest 10/29/2021 Shares issued for Interest 4,082,878 408 39,400 39,808
Shares issued for Debt 10/29/2021 Shares issued for Debt 8,421,053 842 39,158 40,000
Shares issued for Interest 10/29/2021 Shares issued for Interest 2,987,789 299 13,893 14,192
Shares issued for Debt 11/4/2021 Shares issued for Debt 6,250,082 625 49,375 50,000
Shares issued for Interest 11/4/2021 Shares issued for Interest 2,376,531 238 18,774 19,012
Shares issued for Debt 11/24/2021 Shares issued for Debt 72,476,800 7,248 3,716 10,964
Shares issued for Debt 11/24/2021 Shares issued for Debt 1,000,014 100 24,900 25,000
Shares issued for Interest 11/24/2021 Shares issued for Interest 461,086 46 11,481 11,527
Shares issued for Debt 11/24/2021 Shares issued for Debt 2,400,000 240 59,760 60,000
Shares issued for Interest 11/24/2021 Shares issued for Interest 1,017,600 102 25,338 25,440
Shares issued for Debt 12/10/2021 1,000,000 100 24,900 25,000
Shares issued for Interest 12/10/2021 425,000 43 10,583 10,625
Net Loss for the Quarter Ended December 31,2021 Net Loss for the Quarter Ended December 31,2021 — — — — — 2,644,980 — 2,644,980
Balance December 31,2021 Balance December 31,2021 439,293,406 $ 43,929 50,000 $ 5 10,000 $ 1 4,564,002,832 $ 456,399 44,000,000 $ 4,400 $ 9,706,891 $ (20,703,920 ) — $ (9,755,969 )

The Accompanying Notes are an integral part of these Financial Statements

~~REGEN BIOPHARMA, INC.~~

~~CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS~~

~~(Unaudited)~~


REGEN BIOPHARMA , INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
( unaudited)

		Quarter Ended			Quarter Ended			Six Months Ended			Six Months Ended
		December 31, 2021			December 31,2020			March 31,2022			March 31,2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (loss)		$	2,644,980			1666367		$	(64,436,609	)	$	2,108,549
Adjustments to reconcile net Income to net cash
Preferred Stock issued to Consultants			—			—			—
Common Stock issued for Expenses						159						159
Preferred Stock issued as compensation			—			—			—
Increase (Decrease) in Interest expense attributable to amortization of Discount			22,451			36,717			44,428			46,649
Increase (Decrease) in Accounts Payable			(59,210	)		3,369			(49,870	)		6,645
(Increase) Decrease in Accounts Receivable			(27,425	)		(27,425	)		(54,850	)		(54,849	)
Increase (Decrease) in accrued Expenses			6,036			113712			48,597			215,819
(Increase) Decrease in Prepaid Expenses			6,856			12			13,562			24
Increase(Decrease) in Contributed Capital						1865
Increase (Decrease) in Contributed Capital												2,115
Increase (Decrease) in Derivative Expense			(2,964,939	)		(1,794,776	)		63,669,343			(2,325,111	)
Increase (Decrease) in Unearned Income			(31,640	)					(62,585	)
Increase (Decrease) in Bank Overdraft									—
(Increase( Decrease in Notes Receivable
(Increase( Decrease in Accrued Interest Receivable			(135	)
Increase (Decrease) in Penalties									300,000
Increase (Decrease in Notes Receivable									—
Increase (Decrease in Accrued Interest Receivable									(266	)
Securities accepted as compensation									—
Increase (Decrease) in Loss on Sale of Investment Securities									—
(Gain) Loss on Forgiveness of Debt									—
Unrealized Loss(Gain) on Investment Securities			123,891						130,296
Net Cash Provided by (Used in) Operating Activities		$	(279,135	)	$	—		$	(397,953	)	$	—

Cash Flows from Investment Activities									—
Increase(Decrease) in Sale of Investment Securities									—
Net Cash Provided By Investment Activities									—

CASH FLOWS FROM FINANCING ACTIVITIES
Increase ( Decrease) in Notes Payable			—			—
Increase( Decrease) in Convertible Notes Payable			(94,535	)		0
Increase (Decrease) in Notes Payable									—
Increase(Decrease) in Convertible Notes Payable									(94,535	)
Net Cash Provided by (Used in) Financing Activities		$	(94,535	)		0		$	(94,535	)	$	—

Net Increase (Decrease) in Cash			(373,670	)		0			(492,488	)		—
Cash at Beginning of Period		$	727,162		$	—		$	727,162		$	—
Cash at End of Period		$	353,492		$	—		$	234,674		$	—

Supplemental Disclosure of Noncash investing and financing activities:
Common shares Issued for Debt		$	710,964		$	48,941		$	759,384		$	98,952
Preferred Shares Issued for Debt		$	75,000		$	13,000		$	75,000		$	13,000
Cash Paid for Interest		$	28,973		$	—		$	28,973		$	—
Common shares Issued for Interest		$	264,970		$	15,721		$	304,678		$	33,720
Preferred Shares issued for Interest		$	33,994		$	8,046		$	33,994		$	8,046

The Accompanying Notes are an Integral Part of These Financial Statements	The Accompanying Notes are an Integral Part of These Financial Statements							The Accompanying Notes are an Integral Part of These Financial Statements

REGEN BIOPHARMA, INC.

Notes to Condensed Consolidated Financial Statements

As of ~~December~~March 31, ~~2021~~2022

NOTE 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company was organized April 24, 2012 under the laws of the State of Nevada

The Company intends to engage primarily in the development of regenerative medical applications which we intend to license from other entities up to the point of successful completion of Phase I and or Phase II clinical trials after which we would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials.

The Company is currently engaged in actively identifying small molecules that inhibit or express NR2F6 leading to immune cell activation for oncology applications and immune cell suppression for autoimmune disease.

The Company is in the early stages of development of its proposed products and therapies. The Company will be required to obtain approval from the FDA in order to market any of The Company’s products or therapies. No approval has been granted by the FDA for the marketing and sale of any of the Company’s products and therapies and no assurance may be given that any of the Company’s products or therapies will be granted such approval. The Company’s current plans include the development of regenerative medical applications up to the point of successful completion of Phase I and/ or Phase II clinical trials after which the Company would either attempt to sell or license those developed applications or, alternatively, advance the application further to Phase III clinical trials. The Company can provide no assurance that the Company will be able to sell or license any product or that, if such product is sold or licensed, such sale or license will be on terms favorable to the Company.

A. BASIS OF ACCOUNTING

The financial statements have been prepared using the basis of accounting generally accepted in the United States of America. Under this basis of accounting, revenues are recorded as earned and expenses are recorded at the time liabilities are incurred. The Company has adopted a September 30 year-end.

B. PRINCIPLES OF CONSOLIDATION

The consolidated financial statements include the accounts of KCL Therapeutics, Inc., a Nevada corporation and wholly owned subsidiary of Regen. Significant inter-company transactions have been eliminated.

The Company analyzes the conversion feature of Convertible Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change. The Company values the embedded derivative using the Black-Scholes pricing model.

The Black Scholes pricing model used to determine the Derivative Liability on convertible notes issued by the Company in which an embedded derivative is recognized as of ~~December~~March 31, ~~2021~~2022 utilized the following inputs:

Schedule of Derivative Liability
Risk Free Interest Rate	~~1.49~~2.32	%
Expected Term	.(~~0.66~~0.30) – (~~1.85~~2.1) Yrs
Expected Volatility	~~824.95~~841.51	%
Expected Dividends

H. INCOME TAXES

The Company accounts for income taxes using the liability method prescribed by ASC 740, “Income Taxes.” Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the year in which the differences are expected to reverse. The Company records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rates is recognized as income or loss in the period that includes the enactment date.

The Company applied the provisions of ASC 740-10-50, “Accounting For Uncertainty In Income Taxes”, which provides clarification related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations for the given period. As of September 30, 2021 the Company had no uncertain tax positions, and will continue to evaluate for uncertain positions in the future.

The Company generated a deferred tax credit through net operating loss carry forward. However, a valuation allowance of 100% has been established.

Interest and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance with ASC Topic 740-10-50-19.

I. BASIC EARNINGS (LOSS) PER SHARE

The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “Earnings Per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted the provisions of ASC 260 effective from inception.

Basic net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.

J. ADVERTISING

Costs associated with advertising are charged to expense as incurred. Advertising expenses were $0 for the quarters ended December 31,2020 and December 31, 2021..

K. NOTES RECEIVABLE

Notes receivable are stated at cost, less impairment, if any.

As of ~~December 31,2021~~March 31,2022 the Company has the following Notes Receivable

Schedule of notes receivable
Zander Therapeutics, Inc.		$	5,396

$5,396 owed to the Company by Zander Therapeutics, Inc. bears simple interest at 10% and is due upon the demand of the Company.

L. REVENUE RECOGNITION

Sales of products and related costs of products sold are recognized when: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred; (iii) the price is fixed or determinable; and (iv) collectability is reasonably assured. These terms are typically met upon the prepayment or invoicing and shipment of products.

The Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees. The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on an analysis of each licensee’s sales results. Where warranted, revenue from licensees for contractual obligations such as License Initiation Fees are recognized upon satisfaction of all conditions required to be satisfied in order for that revenue to have been earned by the Company.

M. INTEREST RECEIVABLE

Interest receivable is stated at cost, less impairment, if any.

NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS

In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-10, which eliminated certain financial reporting requirements of companies previously identified as “Development Stage Entities” (Topic 915). The amendments in this ASU simplify accounting guidance by removing all incremental financial reporting requirements for development stage entities. The amendments also reduce data maintenance and, for those entities subject to audit, audit costs by eliminating the requirement for development stage entities to present inception-to-date information in the statements of income, cash flows, and shareholder equity. Early application of each of the amendments is permitted for any annual reporting period or interim period for which the entity’s financial statements have not yet been issued (public business entities) or made available for issuance (other entities). Upon adoption, entities will no longer present or disclose any information required by Topic 915. The Company has adopted this standard.

As of the fiscal year ending September 30, 2019 the Company has adopted Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606). The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

In June 2014, FASB issued Accounting Standards Update (ASU) No. 2014-12 Compensation — Stock Compensation (Topic 718), Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. A performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition under Accounting Standards Codification (ASC) 718, Compensation — Stock Compensation. As a result, the target is not reflected in the estimation of the award’s grant date fair value. Compensation cost would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for annual periods beginning after 15 December 2015 and interim periods within those annual periods. Early adoption is permitted. The Company has reviewed the applicable ASU and has not, at the current time, quantified the effects of this pronouncement, however it believes that there will be no material effect on the consolidated financial statements.

In ~~August2014,~~August 2014, FASB issued Accounting Standards Update (ASU) No. 2014-15 Preparation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. Under generally accepted accounting principles (GAAP), continuation of a reporting entity as a going concern is presumed as the basis for preparing financial statements unless and until the entity’s liquidation becomes imminent. Preparation of financial statements under this presumption is commonly referred to as the going concern basis of accounting. If and when an entity’s liquidation becomes imminent, financial statements should be prepared under the liquidation basis of accounting in accordance with Subtopic 205-30, Presentation of Financial Statements—Liquidation Basis of Accounting. Even when an entity’s liquidation is not imminent, there may be conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern. In those situations, financial statements should continue to be prepared under the going concern basis of accounting, but the amendments in this Update should be followed to determine whether to disclose information about the relevant conditions and events. The amendments in this Update are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company will evaluate the going concern considerations in this ASU, however, at the current period, management does not believe that it has met the conditions which would subject these financial statements for additional disclosure.

On January 31, 2013, the FASB issued Accounting Standards Update [ASU] 2013-01, entitled Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The guidance in ASU 2013-01 amends the requirements in the FASB Accounting Standards Codification [FASB ASC] Topic 210, entitled Balance Sheet. The ASU 2013-01 amendments to FASB ASC 210 clarify that ordinary trade receivables and receivables in general are not within the scope of ASU 2011-11, entitled Disclosure about Offsetting Assets and Liabilities, where that ASU amended the guidance in FASB ASC 210. As those disclosures now are modified with the ASU 2013-01 amendments, the FASB ASC 210 balance sheet offsetting disclosures now clearly are applicable only where reporting entities are involved with bifurcated embedded derivatives, repurchase agreements, reverse repurchase agreements, and securities borrowing and lending transactions that either are offset using the FASB ASC 210 or 815 requirements, or that are subject to enforceable master netting arrangements or similar agreements. ASU 2013-01 is effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods. The adoption of this ASU is not expected to have a material impact on our financial statements.

On February 28, 2013, the FASB issued Accounting Standards Update [ASU] 2013-04, entitled Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation Is Fixed at the Reporting Date. The ASU 2013-04 amendments add to the guidance in FASB Accounting Standards Codification [FASB ASC] Topic 405, entitled Liabilities and require reporting entities to measure obligations resulting from certain joint and several liability arrangements where the total amount of the obligation is fixed as of the reporting date, as the sum of the following:

The amount the reporting entity agreed to pay on the basis of its arrangement among co-obligors.

Any additional amounts the reporting entity expects to pay on behalf of its co-obligors.

While early adoption of the amended guidance is permitted, for public companies, the guidance is required to be implemented in fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments need to be implemented retrospectively to all prior periods presented for obligations resulting from joint and several liability arrangements that exist at the beginning of the year of adoption. The adoption of ASU 2013-04 is not expected to have a material effect on the Company’s operating results or financial position.

On April 22, 2013, the FASB issued Accounting Standards Update [ASU] 2013-07, entitled Liquidation Basis of Accounting. With ASU 2013-07, the FASB amends the guidance in the FASB Accounting Standards Codification [FASB ASC] Topic 205, entitled Presentation of Financial Statements. The amendments serve to clarify when and how reporting entities should apply the liquidation basis of accounting. The guidance is applicable to all reporting entities, whether they are public or private companies or not-for-profit entities. The guidance also provides principles for the recognition of assets and liabilities and disclosures, as well as related financial statement presentation requirements. The requirements in ASU 2013-07 are effective for annual reporting periods beginning after December 15, 2013, and interim reporting periods within those annual periods. Reporting entities are required to apply the requirements in ASU 2013-07 prospectively from the day that liquidation becomes imminent. Early adoption is permitted. The adoption of ASU 2013-07 is not expected to have a material effect on the Company’s operating results or financial position.

In January 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Changes to the current guidance primarily affect the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the ASU clarifies guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The new standard is effective for fiscal years and interim periods beginning after December 15, 2017, and upon adoption, an entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet at the beginning of the first reporting period in which the guidance is effective. Early adoption is not permitted except for the provision to record fair value changes for financial liabilities under the fair value option resulting from instrument-specific credit risk in other comprehensive income. The Company adopted ASU 2016-01 as of the fiscal year ending September 30, 2019.

In August 2020, FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity; Own Equity (“ASU 2020-06”), as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity, and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the “if-converted” method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company has adopted ASU 2020-06 as of the Fiscal Year ending September 30, 2022.

A variety of proposed or otherwise potential accounting standards are currently under study by standard setting organizations and various regulatory agencies. Due to the tentative and preliminary nature of those proposed standards, the Company’s management has not determined whether implementation of such standards would be material to its financial statements.

NOTE 3. GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company generated net losses of $~~20,703,920~~87,785,509 during the period from April 24, 2012 (inception) through ~~December~~March 31, ~~2021.~~2022. This condition raises substantial doubt about the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent on its ability to meet its obligations, to obtain additional financing as may be required and ultimately to attain profitability. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Management plans to raise additional funds by offering securities for cash. Management has yet to decide what type of offering the Company will use or how much capital the Company will raise.

NOTE 4. NOTES PAYABLE

(a) RELATED PARTY

Schedule of notes payable related party
	As of December 31, 2021		As of March 31, 2022
David Koos	$	227	$	227
Total:	$	227	$	227

$227 lent to the Company by David Koos is due and payable at the demand of the holder and bears simple interest at a rate of 15% per annum.

~~(b) NON RELATED PARTY~~

Schedule of non related party
Coventry Enterprises LLC, $ 1,500,000
Total: $ 1,500,000

~~On September 17,2021 the “Company” issued a promissory note in the principal amount of $1,500,000~~ ~~( “Note”) of which $75,000~~ ~~was retained by the Holder through an Original Issue Discount (“OID”) for due diligence and origination related to this transaction and Thirty-five Thousand Dollars $35,000~~ ~~was remitted by the Holder, at the instance and on behalf of the Company, directly to Holder’s counsel for documentation preparation fees resulting in net consideration paid to the Company of $1,390,000~~.

~~The Note carries “Guaranteed Interest” on the principal amount at the rate of~~ 5~~% per annum for the ten-month term of this Note for an aggregate Guaranteed Interest $62,500~~ ~~all of which Guaranteed Interest shall be deemed earned as of September 17, 2021.~~

~~The Principal Amount and the Guaranteed Interest shall be due and payable in five equal monthly payments of $312,500~~ ~~commencing on March 17, 2022 and continuing on the 17th day of each month thereafter until paid in full not later than July 18, 2022 (the “Maturity Date”).~~

Solely following an Event of Default (as such term is defined in the Note) the Note shall become convertible, in whole or in part, into shares of Common Stock at the option of the Holder. The conversion price of the Note is 90% of the lowest per-share Trading Price per share. Trading Price is defined as the lowest daily VWAP for the 20 Trading Days preceding a Conversion Date. VWAP is defined as the dollar volume-weighted average price for the common shares as reported by Bloomberg.

~~The OID is being amortized by the Company over the term of the Note. As of December 31 ,2021 the unamortized discount on this Note is $48,597~~.

NOTE 5. CONVERTIBLE NOTES PAYABLE

On March 8, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Common Stock shall hereafter be changed or reclassified pursuant to the following terms and conditions:

(a) For the period beginning on the Issue Date and ending 365 days subsequent to the Issue Date (“Year 1”) a 50% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(b) For the period beginning one day subsequent to the final day of Year One and ending 365 days subsequent to Year One (“Year 2”) a 35% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(c) For the period beginning one day subsequent to the final day of Year 2 and ending 365 days subsequent to Year 2 (“Year 3”) a 25% discount to the lowest Trading Price (as defined below) for the Common Stock during the ten (10) Trading Day (as defined below) period ending on the latest complete Trading Day prior to the Conversion Date or ten cents per share (whichever is greater).

(d) “Trading Price” means the closing bid price on the Over-the-Counter Bulletin Board, or applicable trading market (the “OTCQB”) as reported by a reliable reporting service (“Reporting Service”) designated by the Lender (i.e. Bloomberg) or, if the OTCQB is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets” by the National Quotation Bureau, Inc. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Company and the Lender. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTCQB, or on the principal securities exchange or other securities market on which the Common Stock is then being traded. “Trading Volume” shall mean the number of shares traded on such Trading Day as reported by such Reporting Service. The Conversion Price shall be equitably adjusted for stock splits, stock dividends, rights offerings, combinations, recapitalization, reclassifications, extraordinary distributions and similar events by the Company relating to the Lender’s securities.

The Company shall have the right, exercisable on not less than five (5) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

Upon closing of a Transaction Event the Lender shall receive 0 .10% ( one tenth of one percent)of the consideration actually received by the Company from an unaffiliated third party as a result of the closing of a Transaction Event.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

~~The issuance of the Note amounted in a beneficial conversion feature of $42,600~~ ~~which is amortized under the Interest Method over the life of the Note.~~ As of ~~December 31,2021 the unamortized discount on the convertible note outstanding is $~~ 0~~. As of December~~March 31, ~~2021~~20221 $100,000 of the principal amount of the Note remains outstanding.

On April 6, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 8% per annum . The maturity of the Note is three years from the issue date.

“Transaction Event” shall mean either of:

(a) The sale by the Company of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

~~The issuance of the Note amounted in a beneficial conversion feature of $9,900~~ ~~which is amortized under the Interest Method over the life of the Note.~~ As of ~~September 30,2021 the unamortized discount on the convertible note outstanding is $~~0~~. December 31,2021~~March 31, 2022 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Note in part or in full, including outstanding principal and accrued interest.

As of March 31, 2022 $50,000 of the principal amount of the Note remains outstanding.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

~~The issuance of the Note amounted in a beneficial conversion feature of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note.~~ As of ~~September 30,2021 the unamortized discount on the convertible note outstanding is $~~0~~. As of December 31,2021~~March 31, 2022 $50,000 of the principal amount of the Note remains outstanding.

On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is two years from the issue date.

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per ~~share.~~sha

~~The issuance of the Note amounted in a beneficial conversion feature of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $~~ 0 ~~As of December 31,2021 $50,000~~ ~~of the principal amount of the Note remains outstanding.~~

~~On October 31, 2016 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000~~ ~~for consideration consisting of $50,000~~ ~~cash. The Note pays simple interest in the amount of~~ 10~~% per annum . The maturity of the Note is two years from the issue date.~~

The Lender shall have the right from time to time to convert all or a part of the outstanding and unpaid principal amount of this Note into fully paid and non- assessable shares of Common Stock and/or Series A Preferred Stock, as such Stock exists on the Issue Date, or any shares of capital stock or other securities of the Company into which such Stock shall hereafter be changed or reclassified at a conversion price of $0.0125 per share.

~~The issuance of the Note amounted in a beneficial conversion feature of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of September 30,2021 the unamortized discount on the convertible note outstanding is $~~0. As of December 31 ,2021 $50,000 of the principal amount of the Note remains outstanding.

March 13, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is February 24, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

In the event that that the Company exercises its right to prepay the note, or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.05 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Note on or prior to the close of business on the three (3) month anniversary of the date that the Note shall have been prepaid by the Company(“Prepayment Date”)

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note.

As of ~~December 31,2021~~March 31, 2022 $50,000 of the principal amount of the Note remains outstanding.

The Company analyzed the conversion feature of the Note for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~204,082~~ 196,721was recognized by the Company as of ~~December~~March 31, ~~2021. The issuance of the Note amounted in a discount of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.

2022.

On March 31, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is March 31, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The warrants shall be exercisable:

In the event part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Note, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the Note. As of ~~December~~March 31 ~~,2021~~,2022 $50,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~204,082~~196,721 was recognized by the Company as of ~~December 31,2021. The issuance of the Note amounted in a discount of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.March 31, 2022.

On April 19, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is April 19, 2020. All or part of the principal is convertible at any time at the demand of the Lender into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share.

The warrants shall be exercisable:

As of ~~December 31,2021~~March 31, 2022 $50,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~204,082~~196,721 was recognized by the Company as of ~~September 30,2021. The issuance of the Note amounted in a discount of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.March 31,2022.

On May 5, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $200,000 for consideration consisting of $200,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is May 5, 2020. The Note is convertible into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iii) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of ~~December 31,2021~~March 31, 2022 $200,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~816,327~~786,885 was recognized by the Company as of ~~December 31,2021. The issuance of the Note amounted in a discount of $200,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December~~March 31, ~~,2021 the unamortized discount on the convertible note outstanding is $~~2022.

0.

On June 26, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $150,000 for consideration consisting of $150,000 cash. The Note pays simple interest in the amount of 10% per annum . The maturity of the Note is June 16, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(b) The granting of a license by the Company or by KCL Therapeutics , Inc to an unaffiliated third party granting that unaffiliated third party the right to develop and/or commercialize the Company’s proprietary NR2F6 intellectual property

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of ~~December 31,2021~~March 31, 2022 $150,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~612,245~~590,164 was recognized by the Company as of ~~December 31,2021. The issuance of the Note amounted in a discount of $150,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.March 31, 2022.

On September 25, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is September 25, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.0125 per common share as of the date which is the earlier of:

(iv) One day subsequent to a “Transaction Event”)

~~Transaction Event” shall mean either of:~~

~~(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party~~

~~(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.~~

~~The warrants shall be exercisable:~~

~~As of December 31, 2021 $50,000~~ ~~of the principal amount of the Note remains outstanding.~~

~~The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082~~ ~~was recognized by the Company as of December 31, 2021. The issuance of the Note amounted in a discount of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.

~~On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000~~ ~~for consideration consisting of $50,000~~ ~~cash. The Note pays simple interest in the amount of~~ 10% per annum. The maturity of the Note is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

~~(iv) One day subsequent to a “Transaction Event”)~~

~~Transaction Event” shall mean either of:~~

~~(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party~~

~~(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.~~

~~The warrants shall be exercisable:~~

~~As of December 31,2021, $50,000~~ ~~of the principal amount of the Note remains outstanding.~~

~~The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $204,082~~ ~~was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $50,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.

~~On October 16, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000~~ ~~for consideration consisting of $100,000~~ ~~cash. The Note pays simple interest in the amount of~~ 10% per annum. The maturity of the Note is October 9, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

~~(iv) One day subsequent to a “Transaction Event”)~~

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of ~~December 31,2021~~March 31, 2022 $~~100,000~~50,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~408,163~~196,721 was recognized by the Company as of ~~December 31,2021.~~March 31, 2022.

On October 3, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $50,000 for consideration consisting of $50,000 cash. The ~~issuance~~Note pays simple interest in the amount of 10% per annum. The maturity of the Note ~~amounted~~is October 3, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a ~~discount~~“Change of Control” of the Company or KCL Therapeutics. For purposes of this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of March 31, 2022, $50,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $196,721 was recognized by the Company as of March 31, 2022.

On October 16, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is October 9, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is ~~amortized under~~ the ~~Interest Method over~~earlier of:

(i) One day subsequent to the ~~life~~execution of an agreement to a transaction whose completion would result in a “Change of Control” of the ~~Note. As~~Company or KCL Therapeutics. For purposes of ~~December 31,2021~~this Note, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the ~~unamortized discount~~assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(ii) One day subsequent to the commencement, in compliance with applicable law, of a broad solicitation by a third party to purchase a majority percentage of the Company’s outstanding equity securities for a limited period of time contingent on shareholders of the ~~convertible~~Company tendering a fixed number of their equity securities (“Tender Offer”).

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

In the event that that the Company exercises its right to prepay the note, ~~outstanding is $~~0.or if the Lender chooses not to convert the remaining amount of the note into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Note into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

As of March 31, 2022 $100,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $393,443 was recognized by the Company as of March 31, 2022.

On November 1, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $25,000 for consideration consisting of $25,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is November 1, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of March 31, 2022 $25,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $98,361 was recognized by the Company as of March 31, 2022.

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of ~~December 31,2021~~March 31, 2022 $25,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~102,041~~98,361 was recognized by the Company as of ~~December 31,2021. The issuance of the Note amounted in a discount of $25,000~~March 31, 2022. ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.

On ~~November 1,~~December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $~~25,000~~100,000 for consideration consisting of $~~25,000~~100,000 cash. The Note pays simple interest in the amount of10% per annum. The maturity of the Note is ~~November 1,~~December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third ~~party.~~party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of ~~December 31,2021~~March 31, 2022 $~~25,000~~100,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~102,041~~393,433 was recognized by the Company as of ~~December 31,2021. The issuance of the Note amounted in a discount of $25,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.

~~On December 20, 2017 (“Issue date”) the Company issued a Convertible Note (“Note”) in the face amount of $100,000~~ ~~for consideration consisting of $100,000~~ ~~cash. The Note pays simple interest in the amount of~~ 10% per annum. The maturity of the Note is December 20, 2020. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

~~(iv) One day subsequent to a “Transaction Event”)~~

~~Transaction Event” shall mean either of:~~

~~(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party~~

~~(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.~~

~~The warrants shall be exercisable:~~

~~As of December 31,2021 $100,000~~ ~~of the principal amount of the Note remains outstanding.~~

~~The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $408,163~~ ~~was recognized by the Company as of December 31,2021. The issuance of the Note amounted in a discount of $100,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.

March 31, 2022.

On February 28, 2018 (“Issue date”) the Company issued a two Convertible Notes (“Notes”) in the aggregate face amount of $100,000 for consideration consisting of $100,000 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Notes is February 28, 2021. The Notes may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.025 per common share as of the date which is the earlier of:

(i) One day subsequent to the execution of an agreement to a transaction whose completion would result in a “Change of Control” of the Company or KCL Therapeutics. For purposes of these Notes, a Change of Control shall be defined as any transaction or series of transactions, whether by merger, sale of substantially all of the assets, or sale or transfer of more than fifty percent (50%) of the outstanding stock of the relevant entity in which the members of the Board of Directors immediately preceding the closing of the Change of Control transaction no longer constitute a majority of the Board of Directors of the surviving entity following the closing of such transaction.

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The Company shall have the right, exercisable on not less than ten (10) Trading Days prior written notice to the Lender, to prepay the outstanding Notes in part or in full, including outstanding principal and accrued interest.

In the event that that the Company exercises its right to prepay the notes, or if the Lender chooses not to convert the remaining amount of the notes into Common Shares of the company, the Lender shall receive warrants equal to 10% of the Common shares it would have received had the Lender converted the remaining amount of the Notes into Common shares of the Company. The warrants shall have a strike price of $0.025 per share.

The warrants shall be exercisable:

In the event that the Company exercises its right to Prepay the Notes on or prior to the close of business on the three (3) month anniversary of the date that the Notes shall have been prepaid by the Company (“Prepayment Date”).

In the event , part of the outstanding and unpaid principal amount of this Note and any Accrued Interest remains outstanding on the Maturity Date of the Notes, or prior to the close of business on the three (3) month anniversary of the Maturity Date of the ~~Notes.~~Notes

As of ~~December 31,2021~~March 31, 2022 $100,000 of the principal amount of the Notes remains outstanding.

The Company analyzed the conversion feature of the Notes for derivative accounting consideration under ASC 815-15 “Derivatives and Hedging” and determined that the embedded conversion feature should be classified as a liability due to their being no explicit limit to the number of shares to be delivered upon settlement of the above conversion features. ASC 815-15 requires that the conversion features are bifurcated and separately accounted for as an embedded derivative contained in the Company’s convertible debt. The embedded derivative is carried on the balance sheet at fair value. Any unrealized change in fair value, as determined at each measurement period, is recorded as a component of the income statement and the associated carrying amount on the balance sheet is adjusted by the change.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~408,163~~393,443 was recognized by the Company as of ~~December 31,2021. The issuance of the Notes amounted in a discount of $100,000~~ ~~which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible notes outstanding is $~~0.March 31, 2022.

On July 11, 2018 the Company issued a Convertible Note (“Note”) in the face amount of $11,500 to an entity controlled by the Company’s then Chief Financial Officer for consideration consisting of $11,500 cash. The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is May 4, 2021. The Note may be converted into the Common Shares of Regen at a price per share ( “Conversion Price”) equivalent to the lower of (a) a 75% discount to the closing price of the common stock of the Company on the trading day immediately prior to the date a conversion notice is given by the Lender to Regen or (b) $0.01 per common share as of the date which is the earlier of:

(iv) One day subsequent to a “Transaction Event”)

Transaction Event” shall mean either of:

(a) The sale by the Company or by KCL Therapeutics , Inc. of the Company’s proprietary NR2F6 intellectual property to an unaffiliated third party

(v) That date which is twenty four (24) months subsequent to the date of execution of this Note.

The warrants shall be exercisable:

As of ~~December 31,2021~~March 31, 2022 $11,500 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~46,938~~45,245 was recognized by the Company as of ~~December 31,2021. The issuance of the Notes amounted in a discount of $11,500~~ ~~which is amortized under the Interest Method over the life of the Notes. As of December 31,2021 the unamortized discount on the convertible note outstanding is $~~0.March 31, 2022.

On September 30, 2018 Regen Biopharma, Inc. (“Regen”) issued a convertible promissory note in the principal amount of $350,000 (“Note”) to Zander Therapeutics, Inc. (“Zander”). Consideration for the Note consisted of $350,000. A onetime interest charge of 10% of the principal amount shall be applied to the principal amount of the Note. The Note is due and payable 24 months from the effective date.

Zander has the right, at any time after the September 30, 2018, at its election, to convert all or part of the outstanding and unpaid Principal Sum and accrued interest (and any other fees) into shares of fully paid and non-assessable shares of Series A Preferred stock of Regen as per this conversion formula: Number of shares receivable upon conversion equals the dollar conversion amount divided by the Conversion Price. The Conversion Price is the greater of $0.0001 or 60% of the lowest trade price in the 25 trading days previous to the conversion. Zander, at any time prior to selling all of the shares from a conversion, may, for any reason, rescind any portion, in whole or in part, of that particular conversion attributable to the unsold shares and have the rescinded conversion amount returned to the Principal Sum with the rescinded conversion shares returned to Regen.

As of ~~December~~March 31, ~~2021,~~2022, 10,000 of the principal amount of the Note remains outstanding.

~~The issuance of the Note amounted in a beneficial conversion feature of $350,000~~ ~~which is amortized under the Interest Method over the life of the Note. As of December 31 2021 the unamortized discount on the convertible note outstanding is $~~0.

Zander and Regen are under common control. Zander Therapeutics, Inc. is the sole licensee of Regen's NR2F6 intellectual property for veterinary applications.

On July 19, 2019 the Company issued a convertible promissory note in the face amount of $100,000 (“Note”) for consideration consisting of:

$95,000 cash

the payment of $5,000 of legal fees

The Note pays simple interest in the amount of 10% per annum. The maturity of the Note is July 19, 2020. The Note may be converted into the common stock of Regen at a price per share ( “Conversion Price”) equivalent to 60% of the lowest Trading price of the common stock of the Company as reported on the National Quotations Bureau OTC Markets exchange upon which the Company's shares are traded or any exchange upon which the Common Stock of the Company may be traded in the future , for the twenty prior trading days including the day upon which a Notice of Conversion is received by the Company or its transfer agent. . In no event shall the Holder be allowed to effect a conversion if such conversion, along with all other shares of Company common stock beneficially owned by the Holder and its affiliates would exceed 9.9% of the outstanding shares of the Common Stock of the Company.

The proceeds from the issuance of the Note are to be allocated as follows:

$30,592 will be utilized to retire the outstanding balance of a $75,000 note issued by the Company on August 15, 2018 to One44 capital, LLC and $22,877 will be allocated to the Company’s accountants and auditors to bring the Company current with regards to the Company’s quarterly reporting requirements under the Securities and Exchange Act of 1934.

The Note may be prepaid with the following penalties:

Time Period		Payment Premium
<=60 days after note issuance		125% of the sum of principal plus accrued interest
>60 days <= 120 days after note issuance		135% of the sum of principal plus accrued interest
>120 days <=180 days after note issuance		140% of the sum· of principal plus accrued· interest

This Note may not be prepaid after the 180th day.

As of ~~December 31,2021~~March 31, 2022 $1,000 of the principal amount of the Note remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $1,639 was recognized by the Company as of March 31, 2022.

On September 17,2021 Regen Biopharma, Inc. ( the “Company”) issued a promissory note in the principal amount of $1,500,000 ( “Note”) of which $75,000 was retained by the Holder through an Original Issue Discount for due diligence and origination related to this transaction and Thirty-five Thousand Dollars $35,000 was remitted by the Holder, at the instance and on behalf of the Company, directly to Holder’s counsel for documentation preparation fees resulting in net consideration paid to the Company of $1,390,000.

The Note carries “Guaranteed Interest” on the principal amount at the rate of 5% per annum for the ten-month term of this Note for an aggregate Guaranteed Interest $62,500 all of which Guaranteed Interest shall be deemed earned as of September 17, 2021.

The Principal Amount and the Guaranteed Interest shall be due and payable in five equal monthly payments of $312,500 commencing on March 17, 2022 and continuing on the 17th day of each month thereafter until paid in full not later than July 18, 2022 (the “Maturity Date”).

On March 17,2022 the Company defaulted by failing to make the required payment and the Note Payable was reclassified as a convertible note as of that date. As of March 17^th 2022 a penalty amount of $300,000 was added to the principal of the Note pursuant to the terms and conditions of the Note. As of March 31, 2022 the principal amount of $1,751,580 remains outstanding.

The Company values the embedded derivative using the Black-Scholes pricing model and a derivative liability of $~~3,048~~66,777,230 was recognized by the Company as of ~~December 31,2021.~~March 31, 2022.

The issuance of the Note amounted in a discount of $100,000 which is amortized under the Interest Method over the life of the Note. As of December 31,2021 the unamortized discount on the convertible note outstanding is $0.

NOTE 6. RELATED PARTY TRANSACTIONS

On June 23, 2015 the Company entered into an agreement (“Agreement”) with Zander Therapeutics, Inc. ( “Zander”) whereby The Company granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by The Company (” License IP”) for non-human veterinary therapeutic use for a term of fifteen years. Zander is under common control with the Company.

Pursuant to the Agreement, Zander shall pay to The Company one-time, non-refundable, upfront payment of one hundred thousand US dollars ($100,000) as a license initiation fee which must be paid within 90 days of June 23, 2015 and an annual non-refundable payment of one hundred thousand US dollars ($100,000) on July 15th, 2016 and each subsequent anniversary of the effective date of the Agreement.

The abovementioned payments may be made, at Zander’s discretion, in cash or newly issued common stock of Zander.

Pursuant to the Agreement, Zander shall pay to The Company royalties equal to four percent (4%) of the Net Sales , as such term is defined in the Agreement, of any Licensed Products, as such term is defined in the Agreement, in a Quarter.

Pursuant to the Agreement, Zander will pay The Company ten percent (10%) of all consideration (in the case of in-kind consideration, at fair market value as monetary consideration) received by Zander from sublicensees ( excluding royalties from sublicensees based on Net Sales of any Licensed Products for which The Company receives payment pursuant to the terms and conditions of the Agreement).

Zander is obligated pay to The Company minimum annual royalties of ten thousand US dollars ($10,000) payable per year on each anniversary of the Effective Date of this Agreement, commencing on the second anniversary of June 23, 2015. This minimum annual royalty is only payable to the extent that royalty payments made during the preceding 12-month period do not exceed ten thousand US dollars ($10,000).

The Agreement may be terminated by The Company:

If Zander has not sold any Licensed Product by ten years of the effective date of the Agreement or Zander has not sold any Licensed Product for any twelve (12) month period after Zander’s first commercial sale of a Licensed Product.

The Agreement may be terminated by Zander with regard to any of the License IP if by five years from the date of execution of the Agreement a patent has not been granted by the United States patent and Trademark Office to The Company with regard to that License IP.

The Agreement may be terminated by Zander with regard to any of the License IP if a patent that has been granted by the United States patent and Trademark Office to The Company with regard to that License IP is terminated.

The Agreement may be terminated by either party in the event of a material breach by the other party.

On December 17, 2018 Regen Biopharma, Inc.(“Licensor”) , KCL Therapeutics, Inc. (“Assignee”) and Zander Therapeutics, Inc. (“Licensee”) entered into a LICENSE ASSIGNMENT AND CONSENT AGREEMENT whereby, with regards to certain intellectual property which was assigned by Regen Biopharma, Inc.(“Assigned Properties”) to its wholly owned subsidiary KCL Therapeutics, Inc., Licensor hereby transfers and assigns to Assignee all rights, duties, and obligations of Licensor under the Agreement with respect to the Assigned Properties , and Assignee agrees to assume such duties and obligations thereunder and be bound to the terms of the Agreement with respect thereto.

On December 16, 2019 Zander Therapeutics, Inc. (“Zander”), KCL Therapeutics, Inc. (“KCL”) and Regen Biopharma, Inc. (“Regen”) entered into an agreement (“Agreement”) whereby:

1) Zander shall return for cancellation 194,285,714 shares of the Series A Preferred stock of Regen (“Conversion Shares”) acquired by Zander through conversion of $340,000 of principal indebtedness of a $350,000 convertible note payable issued by Regen to Zander. Subsequent to this event the principal amount due to Zander by Regen pursuant to the Convertible Note shall be $350,000 which shall be applied pursuant to the Agreement.

2) A $35,000 one time charge due to Zander by Regen (“One Time Charge”) shall be applied pursuant to the Agreement.

3) $75,900 of principal indebtedness due to Regen by Zander and $4,328 of accrued but unpaid interest due by Regen to Zander shall be applied pursuant to the Agreement.

No actions were taken by any of the parties to enforce the terms of the Agreement.

On April 15, 2021 the Agreement was amended as follows so that the material terms and conditions shall be:

a) Zander shall not return the Conversion shares for cancellation and the principal indebtedness of the aforementioned convertible note shall not reflect such return

b) As of December 16, 2019 all principal and accrued interest payable by Regen to Zander on that date resulting from Promissory Notes issued by Regen to Zander shall be credited towards amounts due by Zander pursuant to that agreement, as amended, entered into by and between Zander and Regen on June 23, 2015 (“License Agreement”) whereby Regen granted to Zander an exclusive worldwide right and license for the development and commercialization of certain intellectual property controlled by Regen for non-human veterinary therapeutic use for a term of fifteen years and that License Assignment And Consent agreement entered into by and between Regen, KCL and Zander on December 17, 2018 whereby Regen transferred and assigned to KCL all rights, duties, and obligations of Regen under the License Agreement and KCL agreed to assume such duties and obligations thereunder and be bound to the terms of the License Agreement with respect thereto.

Zander and Regen are under common control.

As of ~~September 30,~~March 31, 2021, $10,000 of the principal amount of the Note remains outstanding.

During the quarter ended June 30, 2021 Zander Therapeutics, Inc. issued a promissory note in the amount of $5,396 to the Company as consideration for expenses of Zander Therapeutics Inc., paid by the Company. The Note is payable on demand of the Holder and bears simple interest at 10% per annum.

On October ~~8,2021~~8, 2021 the Company entered into an agreement with Dr. Brian Koos, MD PhD whereby Dr. Brian Koos would provide services to the Company consisting of :

a) Reviewing existing publications on research being conducted on Checkpoint NR2F6.

b) Identifying the most promising applications for the Company’s technology

c) Drafting a “white paper” on results for 1(b)

d) Making introductions to known experts in appropriate fields identified in 1(b).

Dr. Brian Koos is to be paid compensated $117,000 as total consideration for performing the abovementioned tasks. During the quarter ended December 31, 2021 Dr. Brian Koos was paid the amount of ~~$80,275.~~$80,275 and during the quarter ended March 31, 2022 Dr. Brian Koos was paid $36,975. Dr. Brian Koos is the brother of David Koos the Chairman and Chief Executive Officer of the Company.

As of ~~December~~March 31, ~~2021~~2022 the Company is indebted to David R. Koos the Company’s sole officer and director in the amount of $227. $227 lent to the Company by Koos is due and payable at the demand of the holder and bear simple interest at a rate of 15% per annum.

During the quarter ended December 31, 2021 the Company paid $5,000 of rental expenses to the landlord of BST Partners as consideration to BST Partners for use of office space. BST Partners is controlled by David R. Koos the Chairman and Chief Executive Officer of the Company.

On January 13, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BST on a month to month basis for $5,000 per month beginning January 14, 2022.

BST Partners is controlled by David Koos who serves as the sole officer and director of Regen Biopharma, Inc.

~~NOTE 7.~~NOTE7. ACCOUNTS RECEIVABLE, RELATED PARTY

Accounts Receivable due from Related Party as of ~~December~~March 31, ~~2021~~2022 consists solely of amounts earned by the Company not yet paid resulting from the Company’s license agreement with KCL Therapeutics (See Note 6).

NOTE 8. STOCKHOLDERS’ EQUITY

The stockholders’ equity section of the Company contains the following classes of capital stock as of ~~December~~March 31 ~~2021:~~2022:

Common stock, $ 0.0001 par value; ~~4,800,000,000~~5,800,000,000 shares authorized: ~~4,564,002,832~~4,580,002,832 shares issued and outstanding.

With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Common Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Common Stock owned by such holder times one (1).

On any voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the holders of the Common Stock shall receive, out of assets legally available for distribution to the Company’s stockholders, a ratable share in the assets of the Corporation.

Preferred Stock, $0.0001 par value, 800,000,000 shares authorized of which 600,000 is designated as Series AA Preferred Stock: 50,000 shares issued and outstanding as of ~~December 31,2021,~~March 31, 2022, ~~300,000,000~~540,000,000 is designated Series A Preferred Stock of which 439,293,406 shares are outstanding as of ~~December 31,2021,~~March 31, 2022, ~~300,000,000~~60,000,000 is designated Series M Preferred Stock of which 44,000,000 shares are outstanding as of ~~December 31,2021,~~March 31, 2022, and 20,000 is designated Series NC stock of which 10,000 shares are outstanding as of ~~December~~March 31, ~~2021. .~~ 2022.

The abovementioned shares authorized pursuant to the Company’s certificate of incorporation may be issued from time to time without prior approval of the shareholders. The Board of Directors of the Company shall have the full authority permitted by law to establish one or more series and the number of shares constituting each such series and to fix by resolution full or limited, multiple or fractional, or no voting rights, and such designations, preferences, qualifications, restrictions, options, conversion rights and other special or relative rights of any series of the Stock that may be desired.

Series AA Preferred Stock

On September 15, 2014 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series AA Preferred Stock” (hereinafter referred to as “Series AA Preferred Stock”).

The Board of Directors of the Company have authorized 600,000 shares of the Series AA Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series AA Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series AA Preferred Stock owned by such holder times ten thousand (10,000). Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series AA Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Series A Preferred Stock

On January 15, 2015 the Company filed a CERTIFICATE OF DESIGNATION (“Certificate of Designations”) with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as “Series A Preferred Stock” (hereinafter referred to as “Series A Preferred Stock”).

The Board of Directors of the Company have authorized ~~300,000,000~~540,000,000 shares of the Series A Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of the Corporation, each holder of Series A Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series A Preferred Stock owned by such holder times one . Except as otherwise required by law holders of Common Stock, other series of Preferred issued by the Corporation, and Series A Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

Holders of the Series A Preferred Stock will be entitled to receive, when, as and if declared by the board of directors of the Company (the “Board”) out of funds legally available therefore, non-cumulative cash dividends of $0.01 per quarter. In the event any dividends are declared or paid or any other distribution is made on or with respect to the Common Stock , the holders of Series A Preferred Stock as of the record date established by the Board for such dividend or distribution on the Common Stock shall be entitled to receive, as additional dividends (the “Additional Dividends”) an amount (whether in the form of cash, securities or other property) equal to the amount (and in the form) of the dividends or distribution that such holder would have received had each share of the Series A Preferred Stock been one share of the Common Stock, such Additional Dividends to be payable on the same payment date as the payment date for the Common Stock.

Upon any liquidation, dissolution, or winding up of the Company, whether voluntary or involuntary (collectively, a “Liquidation”), before any distribution or payment shall be made to any of the holders of Common Stock or any other series of preferred stock, the holders of Series A Preferred Stock shall be entitled to receive out of the assets of the Company, whether such assets are capital, surplus or earnings, an amount equal to $0.01 per share of Series A Preferred (the “Liquidation Amount”) plus all declared and unpaid dividends thereon, for each share of Series A Preferred held by them.

If, upon any Liquidation, the assets of the Company shall be insufficient to pay the Liquidation Amount, together with declared and unpaid dividends thereon, in full to all holders of Series A Preferred, then the entire net assets of the Company shall be distributed among the holders of the Series A Preferred, ratably in proportion to the full amounts to which they would otherwise be respectively entitled and such distributions may be made in cash or in property taken at its fair value (as determined in good faith by the Board), or both, at the election of the Board.

On January 10, 2017 Regen Biopharma, Inc. (“Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as "Series M Preferred Stock" (hereinafter referred to as "Series M Preferred Stock").

The Board of Directors of Regen have authorized ~~300,000,000~~60,000,000 shares of the Series M Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series M Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series M Preferred Stock owned by such holder times one. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series M Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series M Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series M Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.

On March 26, 2021 Regen Biopharma, Inc. ( “Regen”) filed a CERTIFICATE OF DESIGNATION ("Certificate of Designations") with the Nevada Secretary of State setting forth the preferences rights and limitations of a newly authorized series of preferred stock designated and known as Nonconvertible Series NC Preferred Stock (hereinafter referred to as "Series NC Preferred Stock").

The Board of Directors of Regen have authorized 20,000 shares of the Series NC Preferred Stock, par value $0.0001. With respect to each matter submitted to a vote of stockholders of Regen, each holder of Series NC Preferred Stock shall be entitled to cast that number of votes which is equivalent to the number of shares of Series NC Preferred Stock owned by such holder times 500,000. Except as otherwise required by law holders of Common Stock, other series of Preferred issued by Regen, and Series NC Preferred Stock shall vote as a single class on all matters submitted to the stockholders.

The holders of Series NC Preferred Stock shall be entitled receive dividends, when, as and if declared by the Board of Directors in accordance with Nevada Law, in its discretion, from funds legally available therefore

On any voluntary or involuntary liquidation, dissolution or winding up of Regen, the holders of the Series NC Preferred Stock shall receive, out of assets legally available for distribution to Regen’s stockholders, a ratable share in the assets of Regen.

NOTE 9. INVESTMENT SECURITIES, RELATED PARY

On June 11, 2018 Regen Biopharma, Inc. was paid a property dividend consisting of 470,588 of the common shares of Zander Therapeutics, Inc.

On November 29, 2018 the Company accepted 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. in satisfaction of prepaid rent and accrued interest owed to the Company collectively amounting to $13,124.

On ~~December 31,2021~~March 31,2022 the Company revalued 470,588 of the common shares of Zander Therapeutics, Inc. and 725,000 shares of the Series M Preferred stock of Zander Therapeutics, Inc. based on the following inputs:

Schedule of dividend income
Fair Value of Intellectual Property	$	1,500
Prepaid Expenses		74,298
Due from Employee		1,071
Note Receivable		64,400
Accrued Interest Receivable		20,274
Investment Securities		593,357
Convertible Note Receivable		10,000
Accounts Payable		1,269,041
Notes Payable		500,000
Accrued Expenses Related Parties		89,529
Accrued Expenses		203,037
Enterprise Value		2,826,507
Less: Total Debt		(2,061,607	)
Portion of Enterprise Value Attributable to Shareholders		764,900
Fair Value Per Share	$	0.0167

The abovementioned constitute the Company’s sole related party investment securities as of ~~December~~March 31, ~~2021~~2022

As of ~~December~~March 31, ~~2021:~~2022:

	Schedule of comprehensive income
Schedule of comprehensive income								Schedule of comprehensive income
470,588 Common Shares of Zander Therapeutics, Inc.	470,588 Common Shares of Zander Therapeutics, Inc.					470,588 Common Shares of Zander Therapeutics, Inc.

	Basis		Fair Value		Total Unrealized Gains	Net Unrealized Gain or (Loss) realized during the quarter ended December 31,2021		Basis		Fair Value		Total Unrealized Gains		Net Unrealized Gain or (Loss) realized during the quarter ended March 31,2022
$	5,741	$	7,858	$	2,118	$	0	5,741	$	7,858	$	2,118	$	0

725,000 Series M Preferred of Zander Therapeutics, Inc.	725,000 Series M Preferred of Zander Therapeutics, Inc.						725,000 Series M Preferred of Zander Therapeutics, Inc.

	Basis		Fair Value		Total Unrealized Loss		Net Unrealized Gain or (Loss) realized during the quarter ended September 30,2021		Basis		Fair Value		Total Unrealized Loss			Net Unrealized Gain or (Loss) realized during the quarter ended March 31, 2022
$	13,124	$	12,109	$	(1,104	)	$	0	13,124	$	12,109	$	(1,104	)	$	0

NOTE 10. INVESTMENT SECURITIES

During the quarter ended June 30, 2021 the Company was paid 50,000 common shares of Oncology Pharma, Inc. pursuant to an agreement entered into by and between KCL Therapeutics, Inc. ( a wholly owned subsidiary of the Company) and Oncology Pharma, Inc. whereby Oncology Pharma, Inc. was granted a license for the development and commercialization of certain intellectual property (“License IP”) for the treatment in humans of colon cancer for a term of fifteen years from April 7, 2021.

During the quarter ended June 30, 2021 13,000 of the aforementioned common shares were sold to an unrelated party for $300,000 cash.

During the quarter ended September 30, 2021 18,000 of the aforementioned common shares were sold to an unrelated party for $195,000 cash.

As of ~~December~~March 31, ~~2021~~ 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 ~~December 31,2021~~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.

As of ~~December~~March 31, 2021:

Schedule of investment securities
18,300 Common Shares of Oncology Pharma, Inc.

Basis Fair Value Total Unrealized Losses Net Unrealized Gain or (Loss) realized during the quarter ended December 31,2021
$ 677,100 $ 74,115 $ 602,985 $ (123,891)

Schedule of investment securities
18,300 Common Shares of Oncology Pharma, Inc.

	Basis		Fair Value		Total Unrealized Losses		Net Unrealized Gain or (Loss) realized during the quarter ended December 31,2021
$	677,100	$	67,710	$	602,985	$	(123,891	)

NOTE 12. STOCK TRANSACTIONS

On ~~October 1, 2021~~March 28, 2022 the Company issued ~~101,718,058~~16,000,000 common shares in satisfaction of $~~425,000~~48,420 of convertible indebtedness and $~~154,991~~39,708 of accrued interest on convertible indebtedness.

~~On October 1, 2021 the Company issued~~ ~~5,869,589~~ ~~shares of Series A Preferred stock in satisfaction of $50,000~~ ~~of convertible indebtedness and $23,369~~ ~~of accrued interest on convertible indebtedness.~~

~~On October 29, 2021 the Company issued~~ ~~25748147~~ ~~common shares in satisfaction of $140,000~~ ~~of convertible indebtedness and $54,000~~ ~~of accrued interest on convertible indebtedness.~~

~~On November 4 , 2021 the Company issued~~ ~~8626613~~ ~~common shares in satisfaction of $50,000~~ ~~of convertible indebtedness and $69,012~~ ~~of accrued interest on convertible indebtedness.~~

~~On November 24, 2021 the Company issued~~ ~~77355500~~ ~~common shares in satisfaction of $95,964~~ ~~of convertible indebtedness and $36,967~~ ~~of accrued interest on convertible indebtedness.~~

~~On December 10 2021 the Company issued~~ ~~1,425,000~~ ~~shares of Series A Preferred stock in satisfaction of $25,000~~ ~~of convertible indebtedness and $10,625~~ ~~of accrued interest on convertible indebtedness.~~

NOTE 13. SUBSEQUENT EVENTS

On ~~January 13,~~April 4, 2022 Regen Biopharma, Inc. entered into a sublease agreement with BST Partners (“BST”) whereby Regen Biopharma, Inc. would sublet office space located at 4700 Spring Street, Suite 304, La Mesa, California 91942 from BSTthe Company issued 40,000,000 common shares in satisfaction of $218,617 of convertible indebtedness and $1,702 of accrued interest on ~~a month to month basis for $5,000 per month beginning January 14, 2022.~~convertible indebtedness.

~~BST Partners is controlled by David Koos who serves as~~On April 7, 2022 the ~~sole officer~~Company issued 100,000,000 common shares in satisfaction of $550,161 of convertible indebtedness and ~~director~~$639 of ~~Regen Biopharma, Inc.~~accrued interest on convertible indebtedness.

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 ~~December 31,2021~~March 31,2022 we had cash of ~~$353,492.The~~$234,674.The decrease in cash of approximately ~~51.39%~~68% is primarily attributable to thethe 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 ~~December~~March 31, ~~2021~~2022 we had Accounts Receivable, Related Party of $ ~~240,617.~~268,042. The increase of approximately ~~12.9%~~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 ~~December~~March 31, ~~2021~~2022 we had prepaid expenses of ~~$41,288.~~$34,582. The decrease in Prepaid Expenses of approximately ~~14.24%~~28.17% is attributable to the recognition of expenses incurred over the ~~quarter~~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 ~~December~~March 31 , ~~2021~~2022 we had Investment Securities ( Not Related Party) of ~~$74,115~~$67,710 and as of September 30,2021 we had Investment Securities (Not Related Party) of $198,006. As of ~~December~~March 31, ~~2021~~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 ~~December~~March 31, ~~2021~~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 ~~62.5%~~65.8% as compared to September 30, 2021.

As of ~~December~~March 31, ~~2021~~2022 we had Accounts Payable of ~~$32,288~~$41,629 and as of September 30, 2021 we had Accounts Payable of $91,498. The decrease in Accounts Payable of approximately ~~64.91%~~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 ~~December~~March 31, ~~2021~~2022 we had Accrued Interest Payable of ~~$661,934~~$664,787 and as of September 30, 2021 we had Accrued Interest Payable of $954,861.

The decrease in Accrued Interest Payable of approximately ~~30.68%~~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 ~~quarter~~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 ~~$3.927,538~~$70,561,820 and as of September 30, 2021 we had a Derivative Liability of $6,892,477. The ~~decrease~~increase in Derivative Liability of approximately ~~43%~~924% is attributable to the recognition by the Company of embedded derivatives on Convertible Notes Payable with an aggregate face value of ~~$962,500~~$2,714,080 outstanding as of ~~December~~March 31, ~~2021.~~2022.

~~As of December 31, 2021 we had Convertible Notes Payable of $1,272,310 as opposed to Convertible Notes Payable of $2,152,811 as of September 30, 2021. The decrease of 40.7% is attributable to :~~

~~(a)~~

~~the conversion of $785,964 of principal convertible indebtedness into the equity securities of the Company~~

~~(b)~~

~~the satisfaction of $94,537 of principal convertible indebtedness in cash.~~

. Material Changes in Results of Operations

Revenues from continuing operations were ~~$59,065~~$58,369 for the quarter ended ~~December 31,2021~~March 31,2022 and $27,425 for the same period ended ~~2020.~~2021. The increase of approximately ~~115%~~112% is attributable to ~~$31,640~~$30,945 of revenue recognized during the quarter ended ~~December~~March 31, ~~2021~~2022 pursuant to a license granted to Oncology Pharma,Inc. Operating Loss was ~~$106,423~~$76,494 for the quarter ended ~~December 31,2021~~March 31,2022 whereas Operating Loss was ~~$18,480~~$12,973 for the same quarter ended ~~2020;~~2021; an increase primarily attributable to revenue recognized during the quarter ended ~~June 30,2021~~March 31,2022 pursuant to a license granted to Oncology Pharma Inc. as well as materially lower operating expenses recognized during the quarter ended ~~December 31,2020~~March 31,2021 as compared to ~~December 31,2021.~~March 31,2022.

Net ~~Income~~Loss was ~~$ 2,644,980~~$67,081,589 for the quarter ended ~~December 30, 2021~~March 31, 2022 versus Net Income of ~~$1,666,367~~$442,183 recognized during the same period ended ~~2020.~~2021. This was primarily attributable to ~~greater~~a Derivative ~~income~~Loss recognized during the quarter ended ~~December~~March 31, ~~2021~~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 ~~quarter~~period ended ~~2020.~~2021. This was primarily attributable to a Derivative Loss recognized during the six months ended March 31, 2022.

As of ~~December~~March 31, ~~2021~~2022 we had ~~$353,492~~$234,674 in cash on hand and current liabilities of ~~$10.491,210~~$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 ~~December~~March 31, ~~2021~~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 ~~October~~January 1, ~~2021~~2022 and ending on ~~December~~March 31, ~~2021,~~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 ~~October 1, 2021~~March 28, 2022 the Company issued ~~101,718,058~~16,000,000 common shares (“Shares”) in satisfaction of ~~$425,000~~$48,420 of convertible indebtedness and ~~$154,991~~$39,708 of accrued interest on convertible indebtedness.

On ~~October 1, 2021~~April 4, 2022 the Company issued ~~5,869,589~~40,000,000 common shares ~~of Series A Preferred stock~~ ( “Shares”)in satisfaction of ~~$50,000~~$218,617 of convertible indebtedness and ~~$23,369~~$1,702 of accrued interest on convertible indebtedness.

On ~~October 29, 2021~~April 7, 2022 the Company issued ~~25748147~~100,000,000 common shares in satisfaction of ~~$140,000~~$550,161 of convertible indebtedness and ~~$54,000~~$639 of accrued interest on convertible ~~indebtedness.~~

~~On November 4, 2021 the Company issued 8626613 common shares in satisfaction of $50,000 of convertible~~ indebtedness ~~and $69,012 of accrued interest on convertible indebtedness.~~

~~On November 24, 2021 the Company issued 77355500 common shares in satisfaction of $95,964 of convertible indebtedness and $36,967 of accrued interest on convertible indebtedness.~~

~~On December 10 2021 the Company issued 1,425,000 shares of Series A Preferred stock in satisfaction of $25,000 of convertible indebtedness and $10,625 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

None.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

Item 5. OTHER INFORMATION

None.

Item 6. Exhibit Index

31.1	CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF THE SARBANESE-OXLEY ACT OF 2002
31.2	CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 OF THE SARBANESE-OXLEY ACT OF 2002
32.1	CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
32.2	CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C SECTION 1350 AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
~~10. 1~~	SUBLEASE*

* Incorporated by reference to Exhibit 10.1 of that Current Report on Form 8-K filed 1/14/2022

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		Regen Biopharma, Inc.

	By:	/s/ David R. Koos
	Name:	David R. Koos
	Title:	Chairman, Chief Executive Officer
	Date:	~~January 20, 2022~~

		Regen Biopharma, Inc.

	By:	/s/ David R. Koos
	Name:	David R. Koos
	Title:	Acting Chief Financial Officer, Director
	Date:	~~January 20, 2022~~


REGEN BIOPHARMA , INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

	As of			As of
	December 31, 2021 (Unaudited)			September 30, 2021
ASSETS
CURRENT ASSETS
Cash	$	353,492		$	727,162
Accounts Receivable, Related Party		240,617			213,192
Note Receivable, Related Party		5,396			5,396
Accrued Interest Receivable		365			230
Prepaid Expenses		41,288			48,144
Total Current Assets		641,157			994,124

OTHER ASSETS
Investment Securities		74,115			198,006
Investment Securities, Related Party		19,969			19,969
Total Other Assets		94,084			217,975

TOTAL ASSETS	$	735,241		$	1,212,099
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable		32,288			91,498
Notes Payable		1,451,630			1,429,179
Accrued payroll taxes		4,241			4,241
Accrued Interest		661,934			954,861
Accrued Rent		0			0
Accrued Payroll		1,266,679			1,266,679
Other Accrued Expenses		41,423			41,423
Bank Overdraft		1,000			1,000
Due to Investor		20,000			20,000
Unearned Income		1,812,166			1,843,806
Derivative Liability		3,927,538			6,892,477
Convertible Notes Payable Less unamortized discount		1,262,310			2,131,311
Convertible Notes Payable, Related Parties Less unamortized discount		10,000			21,500
Total Current Liabilities		10,491,210			14,697,976
Long Term Liabilities:
Convertible Notes Payable, Related Parties Less unamortized discount					0
Total Long Term Liabilities
Total Liabilities		10,491,210			14,697,976

STOCKHOLDERS' EQUITY (DEFICIT)
Common Stock ($.0001 par value) 500,000,000 shares authorized; 4,800,000,000 authorized and 4,564,002,832 issued and outstanding as of December 31,2021 and 4,800,000,000 authorized and 4,350,554,514 shares issued and outstanding as of September 30 ,2021.		456,399			435,054
Preferred Stock, 0.0001 par value, 800,000,000 authorized as of December 31,2021 and September 30,2021 respectively		-			-
Series A Preferred 300,000,000 authorized, 439,293,406 and 431,998,817 outstanding as of December 31,2021 and September 30, 2021 respectively		43,929			43,200
Series AA Preferred $0.0001 par value 600,000 authorized and 50,000 and 50,000 outstanding as of December 31,2021 and September 30,2021 respectively		5			5
Series M Preferred $0.0001 par value 300,000,000 authorized and 44,000,000 outstanding as of September 30,2021 and December 31, 2021 respectively		4,400			4,400
Series NC Preferred $0.0001 par value 20,000 and 0 authorized and 10,000 and 0 outstanding as of September 30, 2021 and December 31,2021 respectively		1			1
Additional Paid in capital		9,706,891			8,644,037
Contributed Capital		736,326			736,326
Retained Earnings (Deficit)		(20,703,920	)		(23,348,900	)
Total Stockholders' Equity (Deficit)		(9,755,969	)		(13,485,877	)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT)	$	735,241		$	1,212,099

The Accompanying Notes are an Integral Part of These Financial Statements

Schedule of non related party
Coventry Enterprises LLC,	$	1,500,000
Total:	$	1,500,000

	Schedule of investment securities
18,300 Common Shares of Oncology Pharma, Inc.

	Basis		Fair Value		Total Unrealized Losses	Net Unrealized Gain or (Loss) realized during the quarter ended December 31,2021
$	677,100	$	74,115	$	602,985	$	(123,891)