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RenovaCare (RCAR)

Cover

Cover - shares6 Months Ended
Jun. 30, 2021Aug. 02, 2021
Cover [Abstract]
Document Type10-Q
Amendment Flagfalse
Document Quarterly Reporttrue
Document Transition Reportfalse
Document Period End DateJun. 30,
2021
Document Fiscal Period FocusQ2
Document Fiscal Year Focus2021
Current Fiscal Year End Date--12-31
Entity File Number000-30156
Entity Registrant NameRENOVACARE, INC.
Entity Central Index Key0001016708
Entity Tax Identification Number98-0384030
Entity Incorporation, State or Country CodeNV
Entity Address, Address Line One9375 E. Shea Blvd
Entity Address, Address Line TwoSuite 107-A
Entity Address, City or TownScottsdale
Entity Address, State or ProvinceAZ
Entity Address, Postal Zip Code85260
City Area Code888
Local Phone Number398-0202
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding87,352,364

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)Jun. 30, 2021Dec. 31, 2020
Current assets
Cash $ 4,342,978 $ 7,412,969
Prepaid expenses466,468 566,275
Total current assets4,809,446 7,979,244
Equipment, net of accumulated depreciation of $8,308 and $3,584, respectively33,916 38,640
Intangible assets152,854 152,854
Security Deposit7,995 7,995
Right of Use Asset53,492 79,462
Other Assets94,247 137,749
Total assets5,151,950 8,395,944
Current liabilities
Accounts payable and accrued liabilities165,476 1,237,437
Lease liability - current51,132 51,125
Total current liabilities216,608 1,288,562
Lease  Liability - long term4,433 28,607
Total liabilities221,041 1,317,169
Stockholders' equity
Preferred stock: $0.0001 par value; 10,000,000 shares authorized, no shares issued and outstanding
Common stock: $0.00001 par value; 500,000,000 shares authorized, 87,352,364 shares issued and outstanding at June 30, 2021 and December 31, 2020874 874
Additional paid-in capital36,127,419 36,846,082
Retained deficit(31,197,384)(29,768,181)
Total stockholders' equity4,930,909 7,078,775
Total liabilities and stockholders' equity $ 5,151,950 $ 8,395,944

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / sharesJun. 30, 2021Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred Stock, Par Value $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized10,000,000 10,000,000
Preferred Stock, Shares Issued0 0
Preferred Stock, Shares Outstanding0 0
Common Stock, Par Value $ 0.00001 $ 0.00001
Common Stock, Shares Authorized500,000,000 500,000,000
Common Stock, Shares, Issued87,352,364 87,352,364
Common Stock, Shares, Outstanding87,352,364 87,352,364

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Income Statement [Abstract]
Revenue
Operating expenses
Research and development704,569 1,347,005 1,758,862 1,539,778
General and administrative400,810 1,697,476 (136,234)2,733,042
Total operating expenses, net1,105,379 3,044,481 1,622,628 4,272,820
Loss from operations(1,105,379)(3,044,481)(1,622,628)(4,272,820)
Other income
Interest income2,615 32,888 2,622 86,474
Other income190,803 190,803
Total other income193,418 32,888 193,425 86,474
Net loss $ (911,961) $ (3,011,593) $ (1,429,203) $ (4,186,346)
Basic and Diluted Loss per Common Share $ (0.01) $ (0.03) $ (0.02) $ (0.05)
Weighted average number of common shares outstanding - basic and diluted87,352,364 87,352,364 87,352,364 87,352,364

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)Common Stock [Member]Additional Paid-in Capital [Member]Retained Earnings [Member]Total
Beginning balance, value at Dec. 31, 2019 $ 874 $ 32,378,833 $ (20,219,845) $ 12,159,862
Shares, Outstanding at beginning at Dec. 31, 201987,352,364
Stock based compensation due to common stock purchase options 465,763 465,763
Net loss (1,174,753)(1,174,753)
Ending balance, value at Mar. 31, 2020 $ 874 32,844,596 (21,394,598)11,450,872
Shares, Outstanding at end at Mar. 31, 202087,352,364
Stock based compensation due to common stock purchase options 1,586,522 1,586,522
Net loss (3,011,593)(3,011,593)
Ending balance, value at Jun. 30, 2020 $ 874 34,431,118 (24,406,191)10,025,801
Shares, Outstanding at end at Jun. 30, 202087,352,364
Beginning balance, value at Dec. 31, 2020 $ 874 36,846,082 (29,768,181)7,078,775
Shares, Outstanding at beginning at Dec. 31, 202087,352,364
Stock based compensation due to common stock purchase options 352,063 352,063
Reversal of stock based compensation due to common stock purchase option cancellations (1,248,575) (1,248,575)
Net loss (517,242)(517,242)
Ending balance, value at Mar. 31, 2021 $ 874 35,949,570 (30,285,423)5,665,021
Shares, Outstanding at end at Mar. 31, 202187,352,364
Stock based compensation due to common stock purchase options 243,979 243,979
Reversal of stock based compensation due to common stock purchase option cancellations (66,130) (66,130)
Net loss (911,961)(911,961)
Ending balance, value at Jun. 30, 2021 $ 874 $ 36,127,419 $ (31,197,384) $ 4,930,909
Shares, Outstanding at end at Jun. 30, 202187,352,364

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)6 Months Ended
Jun. 30, 2021Jun. 30, 2020
Cash flows used in operating activities
Net loss $ (1,429,203) $ (4,186,346)
Adjustments to reconcile net loss to net cash flows used in operating activities
Depreciation expense4,724
Stock based compensation expense(675,163)2,052,285
Amortization of right of use asset25,970
Changes in operating assets and liabilities:
(Increase) decrease in prepaid expenses and other assets99,807 (301,685)
Increase (decrease) in accounts payable(1,071,961)497,738
Increase (decrease) in accounts payable - related parties 18,823
Increase (decrease) in lease liability(24,165)
Net cash flows used in operating activities(3,069,991)(1,919,185)
Cash flows from investing activity
Decrease (increase) in security deposit (7,995)
Net cash flows from investing activity (7,995)
Decrease in cash(3,069,991)(1,927,180)
Cash at beginning of period7,412,969 12,185,248
Cash at end of period $ 4,342,978 $ 10,258,068

Organization, Overview of Opera

Organization, Overview of Operations, Basis of Presentation, Liquidity, Recent Accounting Standards and Earnings (Loss) Per Share6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
Organization, Overview of Operations, Basis of Presentation, Liquidity, Recent Accounting Standards and Earnings (Loss) Per ShareNote
1. Organization, Overview of Operations, Basis of Presentation, Liquidity, Recent Accounting Standards
and Earnings (Loss) Per Share Organization RenovaCare,
Inc. was incorporated on July 14, 1983 in the State of Utah under the name Far West Gold, Inc., and changed its domicile to Nevada in
1997. On January 7, 2014, the Company changed its name at the time from “Janus Resources, Inc.” to “RenovaCare, Inc.”
so as to more fully reflect its current operations and business, and changed its trading symbol to “RCAR” effective as of
January 9, 2014. The
Company has an authorized capital of 500,000,000 shares of $ 0.00001
par value common stock, of which 87,352,364
shares are outstanding as of June 30, 2021, and
10,000,000 shares
of $ 0.0001 par
value preferred stock, of which none are
outstanding. Overview
of Operations RenovaCare,
Inc., through its wholly owned subsidiary, RenovaCare Sciences Corp. is a development-stage company focusing on the research, development
and commercialization of autologous (using a patient’s own cells) cellular therapies that can be used for medical and aesthetic
applications. On
July 12, 2013, the Company completed the acquisition of its flagship technologies (collectively, the “ CellMist TM The CellMist™ System is a cell isolation procedure that enzymatically renders stem cells from the
patient’s own skin or other tissues. The resulting stem cell suspension is administered topically from SkinGun TM as a cell therapy onto wounds
including burns to facilitate healing. In
August 2019, the Company was awarded a continuation of a patent allowing the SkinGun TM encompassing improvements to the SkinGun™, expanding
its potential application beyond the surgical setting into the field, and allowing the use of liquid suspension solutions to include
drugs, hormones, and other useful agents. On
May 6, 2021 the Food and Drug Administration gave full-approval of the Company’s Investigational Device Exemption (IDE) application
to proceed with initial clinical testing of the CellMist™ System and SkinGun™ spray device in adult burn patients. The
Company has four United States patents and patents in Germany, Australia, Canada, and Europe, with the European patent being validated
in France, Germany, Italy, Netherlands, Spain, Switzerland/Lichtenstein, and United Kingdom. The Company also has patent applications
pending in the United States and in multiple countries. The
Company has six allowed trademarks in the United States and two pending applications. Globally, the Company has two European registered
trademarks, two United Kingdom trademarks, two pending in Canada, and one allowed and one pending in Japan. Improvements
in the design and efficiency of the CellMist™ System including a closed, automated cell isolation device and the SkinGun™
spray device are in development with StemCell Systems (Berlin, Germany), the Company’s R&D innovation partner. The Company
is adapting its core technologies for possible use in other clinical indications. The Company is also developing the cell isolation and
spray gun devices as stand-alone 510(k)-cleared products for isolation of cells from other tissues and spraying other solutions of medical
importance. The
Company does not have any commercialized products. The Company's activities have consisted principally of performing research and development
activities and raising capital to support such activities. The Company has enlisted the assistance of several Contract Manufacturing
Organizations (CMO) to manufacture clinical supplies including components of the CellMist System™ and the electronic SkinGun™
spray devices in compliance with FDA’s guidance for current Good Manufacturing Practices (cGMP) and Contract Research Organizations
(CRO) to test and validate the Company’s products and processes and to conduct clinical trials that evaluate initially the safety
and feasibility of an autologous skin cell therapy using the Company’s products to facilitate burn wound healing. These development
activities are subject to significant risks and uncertainties, including possible failure of preclinical and clinical testing. The Company
has not generated any revenue and has sustained recurring losses and negative cash flows from operations since inception. The Company
expects to incur losses as it continues development of its products and technologies and expects that it will need to raise additional
capital through partnerships or the sale of its securities to accomplish its business plan. Failing to secure such additional funding
before achieving sustainable revenue and profit from operations poses a significant risk. The Company's ability to fund the development
of its cellular therapies depends on the amount and timing of cash receipts from future financing activities. There can be no assurance
as to the availability or terms upon which such financing and capital might be available. Basis
of Presentation The
accompanying unaudited interim consolidated financial statements of RenovaCare, Inc. and Subsidiary (the “ Company SEC U.S. GAAP The
accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management
to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying disclosures.
Actual results may differ from those estimates. The accompanying unaudited interim consolidated financial statements have been prepared
on the same basis as the audited financial statements and include all adjustments (including normal recurring adjustments) that are,
in the opinion of management, necessary for a fair presentation of the Company’s consolidated financial position as of June 30,
2021, results of operations and stockholders’ equity for the three and six months ended June 30, 2021 and 2020, and cash flows
for the six months ended June 30, 2021 and 2020. The Company did not record an income tax provision during the periods presented due
to net taxable losses. The results of operations for any interim period are not necessarily indicative of the results of operations for
the entire year. Liquidity As
of June 30, 2021, the Company had $ 4,342,978 of
cash on hand and cash equivalents, and working capital of $ 4,592,838 .
As a result, the Company believes it currently has sufficient cash to meet its funding requirements over the next twelve months following
the issuance of this Quarterly Report on Form 10-Q. However, the Company has experienced and continues to experience negative cash flows
from operations, as well as an ongoing requirement for substantial additional capital investment. The Company expects that it may need
to raise additional capital to accomplish its business plan over the next several years. There can be no assurance as to the availability
or terms upon which such financing and capital might be available. See “Overview of Operations” above. Additionally,
there is uncertainty relating to the full impact of the COVID-19 pandemic on the Company’s operations and capital requirements.
Should financing when needed be unavailable or prohibitively expensive or the COVID-19 pandemic continue, it may adversely affect the
Company’s ability to (i) retain employees and consultants; (ii) obtain additional financing on terms acceptable to the Company,
if at all; (iii) delay regulatory submissions and approvals; (iv) delay, limit or preclude the Company from the operation of clinical
study sites and testing laboratories; (v) delay, limit or preclude the Company from achieving technology or product development goals,
milestones, or objectives; and (vi) preclude or delay entry into joint venture or partnership arrangements. The occurrence of any one
or more of such events may affect the Company’s ability to continue on its pathway to commercialization of its technology or products. Recent
Accounting Standards Any
reference in these notes to applicable accounting guidance is meant to refer to the authoritative non-governmental US GAAP as found in
the Financial Accounting Standards Board's Accounting Standards Codification. The
Company reviews new accounting standards as issued. Although some of these accounting standards issued or effective after the end of
the Company’s previous fiscal year may be applicable, the Company has not identified any standards that the Company believes merit
further discussion other than as discussed above. The Company believes that none of the new standards will have a significant impact
on the financial statements. Earnings
(Loss) Per Share The
Company presents both basic and diluted earnings per share ("EPS") amounts. Basic EPS is calculated by dividing net income
(loss) by the weighted average number of common shares outstanding during the period presented. Diluted EPS amounts are based upon the
weighted average number of common and common equivalent shares outstanding during the period presented. The Company has not included
the effects of warrants, stock options and convertible debt on net loss per share because to do so would be antidilutive. Following
is the computation of basic and diluted net loss per share for the three and six months ended June 30, 2021 and 2020:
Summary
of computation of basic and diluted net loss per share
Three
Months Ended Six
Months Ended
June
30, June
30,
2021 2020 2021 2020
Basic
and Diluted EPS Computation
Numerator:
Loss
available to common stockholders' $ (911,961 ) $ (3,011,593 ) $ (1,429,203 ) $ (4,186,346 )
Denominator:
Weighted
average number of common shares outstanding 87,352,364 87,352,364 87,352,364 87,352,364
Basic
and diluted EPS $ (0.01 ) $ (0.03 ) $ (0.02 ) $ (0.05 )
The shares
listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the
periods presented:
Stock
options 3,089,999 4,788,071 3,089,999 4,788,071
Warrants 12,296,912 12,296,912 12,296,912 12,296,912
Total
shares not included in the computation of diluted losses per share 15,386,911 17,084,983 15,386,911 17,084,983

Prepaid Expenses

Prepaid Expenses6 Months Ended
Jun. 30, 2021
Prepaid Expenses
Prepaid ExpensesNote
2. Prepaid Expenses Prepaid expenses
consist of the following:
Prepaid
Expenses
June
30, December
31,
2021 2020
Prepaid
insurance $ - $ 54,180
Prepaid stock
options for services 87,001 86,999
Prepaid professional
fees 65,000 65,000
Prepaid research
and development expense 296,196 289,746
Other
prepaid costs 18,271 70,350
Total
prepaid expenses $ 466,468 $ 566,275

Equity

Equity6 Months Ended
Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
EquityNote
3. Equity 2013
Long-Term Incentive Plan On
June 20, 2013, the Company’s Board of Directors (the “ Board 2013 Plan 20,000,000
shares of the Company’s common stock have
been reserved for issuance to the Company’s officers, directors, employees and consultants in order to attract and hire key technical
personnel and management. Options granted to employees under the 2013 Plan, including directors and officers who are employees, may be
incentive stock options or non-qualified stock options; options granted to others under the 2013 Plan are limited to non-qualified stock
options. As of June 30, 2021, there were 16,668,266
shares available for future grants. The
2013 Plan is administered by the Board or a committee designated by the Board. Subject to the provisions of the 2013 Plan, the Board
has the authority to determine the officers, employees and consultants to whom options will be granted, the number of shares covered
by each option, vesting rights and the terms and conditions of each option that is granted to them; however, no person may be granted
options to purchase more than 2,000,000 shares in any one fiscal year under the 2013 Plan, and the aggregate fair market value (determined
at the time the option is granted) of the shares with respect to which incentive stock options are exercisable for the first time by
an optionee during any calendar year cannot exceed $100,000. Options granted pursuant to the 2013 Plan are exercisable no later than
ten years after the date of grant. The
exercise price per share of common stock for options granted under the 2013 Plan is the fair market value of the Company's common stock
on the date of grant, using the closing price of the Company's common stock on the last trading day prior to the date of grant, except
for incentive stock options granted to a holder of ten percent or more of the Company's common stock, for whom the exercise price per
share will not
be less than 110% of the fair market value. No
option can be granted under the 2013 Plan after June 20, 2023. Common
Stock At
June 30, 2021, the Company had 500,000,000 authorized shares of common stock with a par value of $ 0.00001
per share and 87,352,364
shares of common stock outstanding. During
the three and six months ended June 30, 2021 and 2020, the Company did not have any common stock transactions. Warrants The
Company has issued warrants to purchase common stock at various exercise prices in connection with loan agreements and private placements.
The following table summarizes information about warrants outstanding at June 30, 2021 and December 31, 2020:
Summary
of warrants outstanding
Shares
of Common Stock Issuable from Warrants Outstanding as of Weighted
June
30, December
31, Average
Description 2021 2020 Exercise
Price Expiration
Series
E 584,416 584,416 $ 1.54 September
9, 2021
Series F 7,246 7,246 $ 3.45 February
23, 2022 & March
9, 2022
Series G 460,250 460,250 $ 2.68 July
21, 2022
Series H 910,000 910,000 $ 2.75 October
16, 2022
Series
I 10,335,000 10,335,000 $ 2.00 November
26, 2025
Total 12,296,912 12,296,912 Stock
Options The
following table summarizes stock option activity for the six months ended June 30, 2021:
Summary
of stock option activity
Number
of Options Weighted
Average Exercise Price ($) Weighted
Average Remaining Contractual Term (years) Aggregate
Intrinsic Value ($)
Outstanding at
December 31, 2020 5,895,570 2.45 5.14 3,376,267
Forfeited (2,805,571 ) 2.74
Outstanding
at June 30, 2021 3,089,999 2.18 4.96 4,177,775
Vested and
exercisable at June 30, 2021 2,427,499 1.90 4.93 3,972,400 The
valuation methodology used to determine the fair value of stock options is the Black-Scholes Model. The Black-Scholes Model requires
the use of a number of assumptions including volatility of the stock price, the risk-free interest rate, and the expected term of the
stock options. The ranges of assumptions used in the Black-Scholes Model during the six months ended June 30, 2020 is set forth in the
table below:
Summary
of assumption of stock option activity
Six
Months Ended
June
30, 2020
Risk-free
interest rate 0.034% - 1.67%
Expected
term in years 3.25 – 4.98
Weighted
Avg. Expected Volatility 105.71% – 106.88%
Expected
dividend yield 0% The
risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is
appropriate for the expected term. Estimated volatility is a measure of the amount by which the stock price
is expected to fluctuate each year during the term of an award. Our calculation of estimated volatility is based on historical stock
prices over a period equal to the term of the awards. The average expected life is based on the contractual terms of the stock option
using the simplified method. We utilize a dividend yield of zero based on the fact that we have never paid cash dividends and have no
current intention to pay cash dividends. Future stock-based compensation may significantly differ based on changes in the fair value
of our Common Stock and our estimates of expected volatility and the other relevant assumptions. The
following table sets forth the share-based compensation cost resulting from stock option grants, including those previously granted and
vesting over time, that were recorded in the Company’s Statements of Operations for the three and six months ended June 30, 2021
and 2020:
Summary
of consolidated statement of operations
Three
Months Ended June 30, Six
Months Ended June 30
2021 2020 2021 2020
Research
and development $ 228,625 $ 631,876 $ 507,438 $ 631,876
General
and administrative (29,026 ) 954,646 (1,182,601 ) 1,420,409
Total $ (199,599 ) $ 1,586,522 $ (675,163 ) $ 2,052,285 Three
and Six Months Ended June 30, 2021 During
the first half of 2021, certain individuals resigned from the Company resulting in the forfeiture and cancellation of 2,805,571
options. Compensation expense was recorded on
some of these options prior to their full vesting. As a result, during the three and six months ended June 30, 2021, the Company recognized
$ 66,130
and $ 1,248,575 ,
respectively, of reversals of the prior recognized compensation expense related to the cancelled options. During the three and six months
ended June 30, 2021, the expense recognized for options still in their vesting period totaled $ 265,726
and $ 639,541 ,
respectively.

Leases

Leases6 Months Ended
Jun. 30, 2021
Leases [Abstract]
LeasesNote
4. Leases In
February 2020, the Company entered into a two-year lease for office premises located at 4 Becker Farm Road, Suite 105, Roseland, New
Jersey. Monthly base rent in year one of the lease is $ 4,356 ;
and $ 4,459 in
year 2 of
the lease. The term (and payment of the monthly rent) commenced upon completion of the landlord’s work on August 1, 2020. The
Company’s existing Lease is not subject to any restrictions or covenants which preclude its ability to pay dividends, obtain financing,
or enter into additional Lease’s. As
of June 30, 2021, the Company has not entered into any leases which have not yet commenced which would entitle the Company
to significant rights or create additional obligations. The Company does
not have any finance leases. Supplemental lease
information as of June 30, 2021:
Schedule
of supplemental lease information
As
of June 30,
2021 As
of December
31, 2020
Operating
lease right-of-use asset $ 53,492 $ 79,462
Current
maturities of operating lease $ 51,132 $ 51,125
Non-current
operating lease 4,433 28,607
Total
operating lease liabilities $ 55,565 $ 79,732
Weighted
Average remaining lease term (in years): 1.09 1.6
Discount
rate: 7.0 % 7.0 %
Right-of-use
asset obtained in exchange for lease obligation $ 98,402 Supplemental cash
flow information for the six months ended June 30, 2021:
Cash
paid for amount included in the measurement of lease liabilities for operating lease $ 26,136 The
Company leases office space under a non-cancellable operating lease expiring in 2022. Future lease payments included in the measurement
of lease liabilities on the balance sheet at June 30, 2021 for future periods are as follows:
Schedule
of future lease payments
Years
ending December 31, 2021,
2021
(Remaining) $ 26,652
2022 31,213
Total future
minimum lease payments 57,864
Less
imputed interest (2,299 )
Total $ 55,565

Commitments and Contingencies

Commitments and Contingencies6 Months Ended
Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and ContingenciesNote
5. Commitments and Contingencies Stem
Cell Systems In
connection with the Company’s anticipated regulatory filings, the Company has engaged StemCell Systems GmbH (“ StemCell
Systems Strategic Agreement 27,000
monthly fee to be paid to StemCell Systems along
with any additional expenses incurred. The Company, StemCell Systems and certain affiliates of StemCells entered into a Rights of First
Refusal and Corporate Opportunities Agreement (the “ ROFR Agreement 128,000
and $ 122,000
during the three months ended June 30, 2021 and
2020, respectively; and $ 248,000 and
$ 199,000 during
the six months ended June 30, 2021 and 2020, respectively. SEC
Complaint On
May 28, 2021 the SEC filed a civil complaint naming the Company and Harmel S. Rayat, RenovaCare Chairman as defendants (the “ Complaint The
Company believes that the claims asserted in the Complaint are without merit and intends to defend this matter vigorously. Most, if not
all, of the cost to defend the Company and Mr. Rayat is expected to be covered by insurance. However, because of the inherent uncertainty
as to the outcome of this proceeding, the Company is unable, at this time, to estimate the possible impact of the outcome of this matter
nor provide assurance that the available insurance coverage will be sufficient to see the Complaint through to resolution. Class
Action Complaints On
July 16 and July 21, 2021, two purported shareholders of the Company filed putative class actions in the United States District
Court for the District of New Jersey against the Company and certain of its current and former executive officers (captioned Gabrielle
A. Boller, Individually and On Behalf of All Others Similarly Situated v. RenovaCare, Inc., Harmel Rayat, and Thomas Bold, No. 2:21-cv-13766-SDW-ESK
(“Boller”), and Michael Solakian, Individually and On Behalf of All Others Similarly Situated v. RenovaCare, Inc., Harmel
Rayat, and Thomas Bold, No. 2:21-cv-13930 (“Solakian”), respectively). The complaints in Boller and Solakian were
brought both individually and on behalf of a putative class of the Company’s stockholders, claiming that in connection with the
facts and circumstances underlying the allegations in the SEC Complaint, the Company engaged in fraudulent conduct and made false and
misleading statements of material fact or omitted to state material facts necessary to make the statements made not misleading. Both
Boller and Solakian seek to declare the action to be a class action and monetary damages, including costs and expenses, and
award of reasonable attorneys’ fees, expert fees, and other costs, and such other relief as the Court may deem just and proper. The
Company believes that the claims asserted in Boller and Solakian and any other Class Actions derived from the SEC Complaint
are without merit and intends to defend itself vigorously. Based on the early stages of these legal proceedings, and the inherent uncertainty
as to their outcome, at this time, the Company is not able to reasonably estimate a possible range of loss, if any, that may result from
the allegations set forth in the complaints filed in the Class Actions.

Related Party Transactions

Related Party Transactions6 Months Ended
Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party TransactionsNote
6. Related Party Transactions During
the three and six months ended June 30, 2020, Talia Jevan Properties, Inc. made payments totaling $ 5,287
and $ 10,811 ,
respectively, to Stephen Yan-Klassen, former CFO who resigned in 2020, for his salary on behalf of the Company. Talia Jevan Properties,
Inc. is a related party of Harmel S. Rayat, Chairman of the Board. On
August 1, 2013, the Company entered into a consulting agreement, as amended on May 1, 2016, with Jatinder Bhogal, an individual owning
in excess of 5% of the Company’s issued and outstanding shares of common stock, to provide consulting services to the Company through
his wholly owned company, Vector Asset Management, Inc. (“ VAMI 120,000
per
year. On July 1, 2020 the Company amended the ECA and paid VAMI $4,000 per month through November 30, 2020 and $200 per month thereafter
until May 31, 2021 at which time the ECA as amended expired. For
consulting services provided by VAMI, during the three months ended June 30, 2021 and 2020, the Company recognized expenses of $ 400
and $ 30,000 ,
respectively; and $ 1,000
and $ 60,000
during the six months ended June 30, 2021 and
2020, respectively. Jatinder Bhogal resigned as the Company’s COO effective June 30, 2020.

Subsequent Events

Subsequent Events6 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent EventsNote
7. Subsequent Events Management
has reviewed material events subsequent of the period ended June 30, 2021 and prior to the filing of financial statements in accordance
with FASB ASC 855 “Subsequent Events”.

Organization, Overview of Ope_2

Organization, Overview of Operations, Basis of Presentation, Liquidity, Recent Accounting Standards and Earnings (Loss) Per Share (Policies)6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
OrganizationOrganization RenovaCare,
Inc. was incorporated on July 14, 1983 in the State of Utah under the name Far West Gold, Inc., and changed its domicile to Nevada in
1997. On January 7, 2014, the Company changed its name at the time from “Janus Resources, Inc.” to “RenovaCare, Inc.”
so as to more fully reflect its current operations and business, and changed its trading symbol to “RCAR” effective as of
January 9, 2014. The
Company has an authorized capital of 500,000,000 shares of $ 0.00001
par value common stock, of which 87,352,364
shares are outstanding as of June 30, 2021, and
10,000,000 shares
of $ 0.0001 par
value preferred stock, of which none are
outstanding.
Overview of OperationsOverview
of Operations RenovaCare,
Inc., through its wholly owned subsidiary, RenovaCare Sciences Corp. is a development-stage company focusing on the research, development
and commercialization of autologous (using a patient’s own cells) cellular therapies that can be used for medical and aesthetic
applications. On
July 12, 2013, the Company completed the acquisition of its flagship technologies (collectively, the “ CellMist TM The CellMist™ System is a cell isolation procedure that enzymatically renders stem cells from the
patient’s own skin or other tissues. The resulting stem cell suspension is administered topically from SkinGun TM as a cell therapy onto wounds
including burns to facilitate healing. In
August 2019, the Company was awarded a continuation of a patent allowing the SkinGun TM encompassing improvements to the SkinGun™, expanding
its potential application beyond the surgical setting into the field, and allowing the use of liquid suspension solutions to include
drugs, hormones, and other useful agents. On
May 6, 2021 the Food and Drug Administration gave full-approval of the Company’s Investigational Device Exemption (IDE) application
to proceed with initial clinical testing of the CellMist™ System and SkinGun™ spray device in adult burn patients. The
Company has four United States patents and patents in Germany, Australia, Canada, and Europe, with the European patent being validated
in France, Germany, Italy, Netherlands, Spain, Switzerland/Lichtenstein, and United Kingdom. The Company also has patent applications
pending in the United States and in multiple countries. The
Company has six allowed trademarks in the United States and two pending applications. Globally, the Company has two European registered
trademarks, two United Kingdom trademarks, two pending in Canada, and one allowed and one pending in Japan. Improvements
in the design and efficiency of the CellMist™ System including a closed, automated cell isolation device and the SkinGun™
spray device are in development with StemCell Systems (Berlin, Germany), the Company’s R&D innovation partner. The Company
is adapting its core technologies for possible use in other clinical indications. The Company is also developing the cell isolation and
spray gun devices as stand-alone 510(k)-cleared products for isolation of cells from other tissues and spraying other solutions of medical
importance. The
Company does not have any commercialized products. The Company's activities have consisted principally of performing research and development
activities and raising capital to support such activities. The Company has enlisted the assistance of several Contract Manufacturing
Organizations (CMO) to manufacture clinical supplies including components of the CellMist System™ and the electronic SkinGun™
spray devices in compliance with FDA’s guidance for current Good Manufacturing Practices (cGMP) and Contract Research Organizations
(CRO) to test and validate the Company’s products and processes and to conduct clinical trials that evaluate initially the safety
and feasibility of an autologous skin cell therapy using the Company’s products to facilitate burn wound healing. These development
activities are subject to significant risks and uncertainties, including possible failure of preclinical and clinical testing. The Company
has not generated any revenue and has sustained recurring losses and negative cash flows from operations since inception. The Company
expects to incur losses as it continues development of its products and technologies and expects that it will need to raise additional
capital through partnerships or the sale of its securities to accomplish its business plan. Failing to secure such additional funding
before achieving sustainable revenue and profit from operations poses a significant risk. The Company's ability to fund the development
of its cellular therapies depends on the amount and timing of cash receipts from future financing activities. There can be no assurance
as to the availability or terms upon which such financing and capital might be available.
Basis of PresentationBasis
of Presentation The
accompanying unaudited interim consolidated financial statements of RenovaCare, Inc. and Subsidiary (the “ Company SEC U.S. GAAP The
accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management
to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying disclosures.
Actual results may differ from those estimates. The accompanying unaudited interim consolidated financial statements have been prepared
on the same basis as the audited financial statements and include all adjustments (including normal recurring adjustments) that are,
in the opinion of management, necessary for a fair presentation of the Company’s consolidated financial position as of June 30,
2021, results of operations and stockholders’ equity for the three and six months ended June 30, 2021 and 2020, and cash flows
for the six months ended June 30, 2021 and 2020. The Company did not record an income tax provision during the periods presented due
to net taxable losses. The results of operations for any interim period are not necessarily indicative of the results of operations for
the entire year.
LiquidityLiquidity As
of June 30, 2021, the Company had $ 4,342,978 of
cash on hand and cash equivalents, and working capital of $ 4,592,838 .
As a result, the Company believes it currently has sufficient cash to meet its funding requirements over the next twelve months following
the issuance of this Quarterly Report on Form 10-Q. However, the Company has experienced and continues to experience negative cash flows
from operations, as well as an ongoing requirement for substantial additional capital investment. The Company expects that it may need
to raise additional capital to accomplish its business plan over the next several years. There can be no assurance as to the availability
or terms upon which such financing and capital might be available. See “Overview of Operations” above. Additionally,
there is uncertainty relating to the full impact of the COVID-19 pandemic on the Company’s operations and capital requirements.
Should financing when needed be unavailable or prohibitively expensive or the COVID-19 pandemic continue, it may adversely affect the
Company’s ability to (i) retain employees and consultants; (ii) obtain additional financing on terms acceptable to the Company,
if at all; (iii) delay regulatory submissions and approvals; (iv) delay, limit or preclude the Company from the operation of clinical
study sites and testing laboratories; (v) delay, limit or preclude the Company from achieving technology or product development goals,
milestones, or objectives; and (vi) preclude or delay entry into joint venture or partnership arrangements. The occurrence of any one
or more of such events may affect the Company’s ability to continue on its pathway to commercialization of its technology or products.
Recent Accounting StandardsRecent
Accounting Standards Any
reference in these notes to applicable accounting guidance is meant to refer to the authoritative non-governmental US GAAP as found in
the Financial Accounting Standards Board's Accounting Standards Codification. The
Company reviews new accounting standards as issued. Although some of these accounting standards issued or effective after the end of
the Company’s previous fiscal year may be applicable, the Company has not identified any standards that the Company believes merit
further discussion other than as discussed above. The Company believes that none of the new standards will have a significant impact
on the financial statements.
Earnings (Loss) Per ShareEarnings
(Loss) Per Share The
Company presents both basic and diluted earnings per share ("EPS") amounts. Basic EPS is calculated by dividing net income
(loss) by the weighted average number of common shares outstanding during the period presented. Diluted EPS amounts are based upon the
weighted average number of common and common equivalent shares outstanding during the period presented. The Company has not included
the effects of warrants, stock options and convertible debt on net loss per share because to do so would be antidilutive. Following
is the computation of basic and diluted net loss per share for the three and six months ended June 30, 2021 and 2020:
Summary
of computation of basic and diluted net loss per share
Three
Months Ended Six
Months Ended
June
30, June
30,
2021 2020 2021 2020
Basic
and Diluted EPS Computation
Numerator:
Loss
available to common stockholders' $ (911,961 ) $ (3,011,593 ) $ (1,429,203 ) $ (4,186,346 )
Denominator:
Weighted
average number of common shares outstanding 87,352,364 87,352,364 87,352,364 87,352,364
Basic
and diluted EPS $ (0.01 ) $ (0.03 ) $ (0.02 ) $ (0.05 )
The shares
listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the
periods presented:
Stock
options 3,089,999 4,788,071 3,089,999 4,788,071
Warrants 12,296,912 12,296,912 12,296,912 12,296,912
Total
shares not included in the computation of diluted losses per share 15,386,911 17,084,983 15,386,911 17,084,983

Organization, Overview of Ope_3

Organization, Overview of Operations, Basis of Presentation, Liquidity, Recent Accounting Standards and Earnings (Loss) Per Share (Tables)6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
Summary of computation of basic and diluted net loss per shareSummary
of computation of basic and diluted net loss per share
Three
Months Ended Six
Months Ended
June
30, June
30,
2021 2020 2021 2020
Basic
and Diluted EPS Computation
Numerator:
Loss
available to common stockholders' $ (911,961 ) $ (3,011,593 ) $ (1,429,203 ) $ (4,186,346 )
Denominator:
Weighted
average number of common shares outstanding 87,352,364 87,352,364 87,352,364 87,352,364
Basic
and diluted EPS $ (0.01 ) $ (0.03 ) $ (0.02 ) $ (0.05 )
The shares
listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the
periods presented:
Stock
options 3,089,999 4,788,071 3,089,999 4,788,071
Warrants 12,296,912 12,296,912 12,296,912 12,296,912
Total
shares not included in the computation of diluted losses per share 15,386,911 17,084,983 15,386,911 17,084,983

Prepaid Expenses (Tables)

Prepaid Expenses (Tables)6 Months Ended
Jun. 30, 2021
Prepaid Expenses
Prepaid ExpensesPrepaid
Expenses
June
30, December
31,
2021 2020
Prepaid
insurance $ - $ 54,180
Prepaid stock
options for services 87,001 86,999
Prepaid professional
fees 65,000 65,000
Prepaid research
and development expense 296,196 289,746
Other
prepaid costs 18,271 70,350
Total
prepaid expenses $ 466,468 $ 566,275

Equity (Tables)

Equity (Tables)6 Months Ended
Jun. 30, 2021
Equity Method Investments and Joint Ventures [Abstract]
Summary of warrants outstandingSummary
of warrants outstanding
Shares
of Common Stock Issuable from Warrants Outstanding as of Weighted
June
30, December
31, Average
Description 2021 2020 Exercise
Price Expiration
Series
E 584,416 584,416 $ 1.54 September
9, 2021
Series F 7,246 7,246 $ 3.45 February
23, 2022 & March
9, 2022
Series G 460,250 460,250 $ 2.68 July
21, 2022
Series H 910,000 910,000 $ 2.75 October
16, 2022
Series
I 10,335,000 10,335,000 $ 2.00 November
26, 2025
Total 12,296,912 12,296,912
Summary of stock option activitySummary
of stock option activity
Number
of Options Weighted
Average Exercise Price ($) Weighted
Average Remaining Contractual Term (years) Aggregate
Intrinsic Value ($)
Outstanding at
December 31, 2020 5,895,570 2.45 5.14 3,376,267
Forfeited (2,805,571 ) 2.74
Outstanding
at June 30, 2021 3,089,999 2.18 4.96 4,177,775
Vested and
exercisable at June 30, 2021 2,427,499 1.90 4.93 3,972,400
Summary of assumption of stock option activitySummary
of assumption of stock option activity
Six
Months Ended
June
30, 2020
Risk-free
interest rate 0.034% - 1.67%
Expected
term in years 3.25 – 4.98
Weighted
Avg. Expected Volatility 105.71% – 106.88%
Expected
dividend yield 0% The
risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is
appropriate for the expected term. Estimated volatility is a measure of the amount by which the stock price
is expected to fluctuate each year during the term of an award. Our calculation of estimated volatility is based on historical stock
prices over a period equal to the term of the awards. The average expected life is based on the contractual terms of the stock option
using the simplified method. We utilize a dividend yield of zero based on the fact that we have never paid cash dividends and have no
current intention to pay cash dividends. Future stock-based compensation may significantly differ based on changes in the fair value
of our Common Stock and our estimates of expected volatility and the other relevant assumptions.
Summary of consolidated statement of operationsSummary
of consolidated statement of operations
Three
Months Ended June 30, Six
Months Ended June 30
2021 2020 2021 2020
Research
and development $ 228,625 $ 631,876 $ 507,438 $ 631,876
General
and administrative (29,026 ) 954,646 (1,182,601 ) 1,420,409
Total $ (199,599 ) $ 1,586,522 $ (675,163 ) $ 2,052,285

Leases (Tables)

Leases (Tables)6 Months Ended
Jun. 30, 2021
Leases [Abstract]
Schedule of supplemental lease informationSchedule
of supplemental lease information
As
of June 30,
2021 As
of December
31, 2020
Operating
lease right-of-use asset $ 53,492 $ 79,462
Current
maturities of operating lease $ 51,132 $ 51,125
Non-current
operating lease 4,433 28,607
Total
operating lease liabilities $ 55,565 $ 79,732
Weighted
Average remaining lease term (in years): 1.09 1.6
Discount
rate: 7.0 % 7.0 %
Right-of-use
asset obtained in exchange for lease obligation $ 98,402 Supplemental cash
flow information for the six months ended June 30, 2021:
Cash
paid for amount included in the measurement of lease liabilities for operating lease $ 26,136
Leases (Details 1)Schedule
of future lease payments
Years
ending December 31, 2021,
2021
(Remaining) $ 26,652
2022 31,213
Total future
minimum lease payments 57,864
Less
imputed interest (2,299 )
Total $ 55,565

Organization, Overview of Ope_4

Organization, Overview of Operations, Basis of Presentation, Liquidity, Recent Accounting Standards and Earnings (Loss) Per Share (Details) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Numerator:
Loss available to common stockholders' $ (911,961) $ (3,011,593) $ (1,429,203) $ (4,186,346)
Denominator:
Weighted average number of common shares outstanding87,352,364 87,352,364 87,352,364 87,352,364
Basic and diluted EPS $ (0.01) $ (0.03) $ (0.02) $ (0.05)
The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented:
Total shares not included in the computation of diluted losses per share15,386,911 17,084,983 15,386,911 17,084,983
Share-based Payment Arrangement [Member]
The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented:
Total shares not included in the computation of diluted losses per share3,089,999 4,788,071 3,089,999 4,788,071
Warrant [Member]
The shares listed below were not included in the computation of diluted losses per share because to do so would have been antidilutive for the periods presented:
Total shares not included in the computation of diluted losses per share12,296,912 12,296,912 12,296,912 12,296,912

Organization, Overview of Ope_5

Organization, Overview of Operations, Basis of Presentation, Liquidity, Recent Accounting Standards and Earnings (Loss) Per Share (Details Narrative) - USD ($)Jun. 30, 2021Dec. 31, 2020Jun. 30, 2020Dec. 31, 2019
Accounting Policies [Abstract]
Common Stock, Shares Authorized500,000,000 500,000,000
Common Stock, Par or Stated Value Per Share $ 0.00001 $ 0.00001
Common Stock, Shares, Issued87,352,364 87,352,364
Preferred Stock, Shares Authorized10,000,000 10,000,000
Preferred Stock, Par or Stated Value Per Share $ 0.0001 $ 0.0001
Preferred Stock, Shares Outstanding0 0
Cash $ 4,342,978 $ 7,412,969 $ 10,258,068 $ 12,185,248
Working capital $ 4,592,838

Prepaid Expenses (Details)

Prepaid Expenses (Details) - USD ($)Jun. 30, 2021Dec. 31, 2020
Prepaid Expenses
Prepaid insurance $ 54,180
Prepaid stock options for services87,001 86,999
Prepaid professional fees65,000 65,000
Prepaid research and development expense296,196 289,746
Other prepaid costs18,271 70,350
Total prepaid expenses $ 466,468 $ 566,275

Equity (Details)

Equity (Details) - $ / shares6 Months Ended
Jun. 30, 2021Dec. 31, 2020
Series E [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding584,416 584,416
Weighted Average Exercise Price $ 1.54
Share-based Compensation Arrangement by Share-based Payment Award, Expiration DateSep. 9,
2021
Series F [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding7,246 7,246
Weighted Average Exercise Price $ 3.45
Series F [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration DateFeb. 23,
2022
Series F [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration DateMar. 9,
2022
Series G [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding460,250 460,250
Weighted Average Exercise Price $ 2.68
Share-based Compensation Arrangement by Share-based Payment Award, Expiration DateJul. 21,
2022
Series H [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding910,000 910,000
Weighted Average Exercise Price $ 2.75
Share-based Compensation Arrangement by Share-based Payment Award, Expiration DateOct. 16,
2022
Series I [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding10,335,000 10,335,000
Weighted Average Exercise Price $ 2
Share-based Compensation Arrangement by Share-based Payment Award, Expiration DateNov. 26,
2025
Warrant [Member]
Class of Warrant or Right [Line Items]
Shares of Common Stock Issuable from Warrants Outstanding12,296,912 12,296,912

Equity (Details 1)

Equity (Details 1) - USD ($)6 Months Ended12 Months Ended
Jun. 30, 2021Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Options outstanding - beginning balance5,895,570
Weighted Average Exercise Price, Options outstanding - beginning balance $ 2.45
Options outstanding4 years 11 months 15 days5 years 1 month 20 days
Aggregate intrinsic value, Options outstanding - beginning balance $ 3,376,267
Options forfeited(2,805,571)
Weighted Average Exercise Price, Options forfeited $ 2.74
Options oustanding - ending balance3,089,999 5,895,570
Weighted Average Exercise Price, Options outstanding - ending balance $ 2.18 $ 2.45
Aggregate intrinsic value, Options oustanding - ending balance $ 4,177,775 $ 3,376,267
Options Vested and Exercisable2,427,499
Weighted Average Exercise Price, Options Vested and Exercisable $ 1.90
Options Vested and Exercisable4 years 11 months 4 days
Aggregate intrinsic value, Options Vested and Exercisable $ 3,972,400

Equity (Details 2)

Equity (Details 2)6 Months Ended
Jun. 30, 2020
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Expected dividend yield0.00%
Minimum [Member]
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Risk-free interest rate0.034%
Expected life in years3 years 3 months
Expected Volatility105.71%
Maximum [Member]
SEC Schedule, 12-18, Supplemental Information, Property-Casualty Insurance Underwriters [Line Items]
Risk-free interest rate1.67%
Expected life in years4 years 11 months 23 days
Expected Volatility106.88%

Equity (Details 3)

Equity (Details 3) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Total $ (199,599) $ 1,586,522 $ (675,163) $ 2,052,285
Research and Development Expense [Member] | Share-based Payment Arrangement, Option [Member]
Total228,625 631,876 507,438 631,876
General and Administrative Expense [Member] | Share-based Payment Arrangement, Option [Member]
Total $ (29,026) $ 954,646 $ (1,182,601) $ 1,420,409

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2021Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant16,668,266 16,668,266
Common Stock, Shares Authorized500,000,000 500,000,000 500,000,000
Common Stock, Par or Stated Value Per Share $ 0.00001 $ 0.00001 $ 0.00001
Common Stock, Shares, Outstanding87,352,364 87,352,364 87,352,364
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period2,805,571
[custom:ReversalOfStockBasedCompensationDueToCommonStockPurchaseOptionCancellation] $ 66,130 $ 1,248,575
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value $ 265,726 $ 639,541
N 2013 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures20,000,000
Stock options grant descriptionThe
2013 Plan is administered by the Board or a committee designated by the Board. Subject to the provisions of the 2013 Plan, the Board
has the authority to determine the officers, employees and consultants to whom options will be granted, the number of shares covered
by each option, vesting rights and the terms and conditions of each option that is granted to them; however, no person may be granted
options to purchase more than 2,000,000 shares in any one fiscal year under the 2013 Plan, and the aggregate fair market value (determined
at the time the option is granted) of the shares with respect to which incentive stock options are exercisable for the first time by
an optionee during any calendar year cannot exceed $100,000. Options granted pursuant to the 2013 Plan are exercisable no later than
ten years after the date of grant.
Excecise price per share limitnot
be less than 110% of the fair market value.

Leases (Details)

Leases (Details) - USD ($)6 Months Ended
Jun. 30, 2021Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use asset $ 53,492 $ 79,462
Current maturities of operating lease51,132 51,125
Non-current operating lease4,433 28,607
Total operating lease liabilities $ 55,565 $ 79,732
Weighted Average remaining lease term (in years):1 year 1 month 2 days1 year 7 months 6 days
Discount rate7.00%7.00%
Right-of-use asset obtained in exchange for lease obligation $ 98,402

Leases (Details 1)

Leases (Details 1) - USD ($)Jun. 30, 2021Dec. 31, 2020
Leases [Abstract]
2021 (Remaining) $ 26,652
202231,213
Total future minimum lease payments57,864
Less imputed interest(2,299)
Total $ 55,565 $ 79,732

Leases (Details Narrative)

Leases (Details Narrative)6 Months Ended
Jun. 30, 2021USD ($)
Leases [Abstract]
Base rent for First year $ 4,356
Base rent for Second year $ 4,459
Lessee, Operating Lease, Term of Contract2 years

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Related Party Transaction [Line Items]
Litigation Settlement, Expense $ 128,000 $ 122,000 $ 248,000 $ 199,000
Stem Cell Systems [Member]
Related Party Transaction [Line Items]
Debt Instrument, Periodic Payment $ 27,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)1 Months Ended3 Months Ended6 Months Ended
Jun. 22, 2018Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Vector Asset Management, Inc [Member]
Related Party Transaction [Line Items]
Share-based Payment Arrangement, Expense $ 120,000
[custom:PaymentOfCompensationDescription]per
year. On July 1, 2020 the Company amended the ECA and paid VAMI $4,000 per month through November 30, 2020 and $200 per month thereafter
until May 31, 2021 at which time the ECA as amended expired.
Costs and Expenses, Related Party $ 400 $ 30,000 $ 1,000 $ 60,000
Stephen Yan-Klesson
Related Party Transaction [Line Items]
Related Party Costs $ 5,287 $ 10,811