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Coeptis Therapeutics (COEP)

Cover

Cover - shares6 Months Ended
Jun. 30, 2021Aug. 16, 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 Number000-56194
Entity Registrant NameCoeptis Therapeutics, Inc
Entity Central Index Key0001819663
Entity Tax Identification Number84-3998117
Entity Incorporation, State or Country CodeDE
Entity Address, Address Line One105 Bradford Rd
Entity Address, Address Line TwoSuite 420
Entity Address, City or TownWexford
Entity Address, State or ProvincePA
Entity Address, Postal Zip Code15090
City Area Code(724)
Local Phone Number934-6467
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businesstrue
Entity Emerging Growth Companytrue
Elected Not To Use the Extended Transition Periodfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding34,152,402

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) - USD ($)Jun. 30, 2021Dec. 31, 2020
CURRENT ASSETS
Cash $ 1,911,304 $ 202,965
Accounts receivable21,786 21,786
Inventories
TOTAL CURRENT ASSETS1,933,090 224,751
PROPERTY AND EQUIPMENT
Furniture and fixtures25,237 25,237
Less: accumulated depreciation(10,578)(9,730)
Furniture and fixtures, net14,660 15,507
OTHER ASSETS
Co-development options750,000 0
Right of use asset, net of accumulated amortization38,541 58,225
Other assets2,000 2,000
 Total other assets790,541 60,225
TOTAL ASSETS2,738,290 300,484
CURRENT LIABILITIES
Accounts payable2,746,627 1,623,840
Accrued expenses196,401 732,146
Notes payable, current portion749,595 1,277,500
Notes payable, related parties, current portion 604,000
Right of use liability, current portion21,276 41,618
Deferred revenue1,000,000 1,000,000
TOTAL CURRENT LIABILITIES4,713,900 5,279,104
LONG TERM LIABILITIES
Note payable150,000 150,000
Right of use liability, non-current portion14,723 14,723
TOTAL LONG TERM LIABILITIES164,723 164,723
TOTAL LIABILITIES4,878,623 5,443,827
STOCKHOLDERS' EQUITY (DEFICIT)
Series B Preferred Stock, $0.0001 par value, 10,000,000 shares authorized, 8,000 and -0- shares issued and outstanding, respectively1 0
Common stock, $0.0001 par value, 750,000,000 shares authorized, 32,640,404 and 25,178,840 shares issued and outstanding, respectively3,106 2,519
Additional paid-in capital16,538,223 8,954,985
Common stock subscribed82,500
Accumulated deficit(18,764,162)(14,100,846)
TOTAL STOCKHOLDERS' EQUITY(2,140,332)(5,143,342)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2,738,290 $ 300,484

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED 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 issued8,000 0
Preferred stock, shares outstanding8,000 0
Common stock, par value $ 0.0001 $ 0.0001
Common stock, shares authorized750,000,000 750,000,000
Common stock, shares issued32,640,404 25,178,840
Common stock, shares outstanding32,640,404 25,178,840

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
SALES
Total sales $ 0 $ 16,365 $ 75,000 $ 20,874
Cost of goods, including inventory obsolescence0 1,869 0 1,869
Gross profit0 14,496 75,000 19,004
COST OF OPERATIONS
Research and development0 3,543 0 3,543
General and administrative expenses2,580,971 661,856 4,318,408 1,004,104
Selling and marketing0 0 2,918 0
Interest expense43,098 36,341 77,823 78,955
 Total operating expenses2,624,069 701,740 4,399,149 1,086,601
LOSS FROM OPERATIONS(2,622,593)(687,244)(4,324,149)(1,067,597)
OTHER INCOME (EXPENSE)
Royalties and licensing fees(166,667)0 (416,667)(1,500,000)
Other Income77,500 1,990 77,500 0
TOTAL OTHER INCOME (EXPENSE)(89,167)1,990 (339,167)(1,500,000)
LOSS BEFORE INCOME TAXES(2,713,235)(685,254)(4,663,316)(2,567,597)
PROVISION FOR INCOME TAXES (BENEFIT)0 0 0 0
NET LOSS $ (2,713,235) $ (685,254) $ (4,663,316) $ (2,567,597)
LOSS PER SHARE
Loss per share, basic and fully diluted $ (0.09) $ (0.04) $ (0.16) $ (0.14)
Weighted average number of common shares outstanding30,412,242 18,125,566 29,543,639 18,041,535
Consulting Services [Member]
SALES
Total sales $ 0 $ 0 $ 75,000 $ 0
Other Sales [Member]
SALES
Total sales $ 0 $ 16,365 $ 0 $ 20,874

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($)Series B Preferred StockCommon Stock [Member]Additional Paid-in Capital [Member]Common Stock Subscribed [Member]Retained Earnings [Member]Total
Beginning balance, value at Dec. 31, 2019 $ 1,620 $ 5,464,465 $ 100,000 $ (4,944,559) $ 621,526
Beginning balance, shares at Dec. 31, 201916,196,000
Retroactive application of recapitalization (297,949) (297,949)
Retroactive application of recapitalization, shares1,588,800
Adjusted balance, beginning of period $ 1,620 5,166,516 100,000 (4,944,559)323,577
Adjusted balance, beginning of period, Shares17,784,800
Shares issued for cash $ 20 99,980 (100,000)
Shares issued for cash, shares200,000
Net income (loss) (1,896,399)(1,896,399)
Ending balance, value at Mar. 31, 2020 $ 1,640 5,266,496 (6,840,958)(1,572,822)
Ending balance, shares at Mar. 31, 202017,984,800
Beginning balance, value at Dec. 31, 2019 $ 1,620 5,464,465 100,000 (4,944,559)621,526
Beginning balance, shares at Dec. 31, 201916,196,000
Net income (loss)(2,567,597)
Ending balance, value at Jun. 30, 2020 $ 1,707 5,600,349 (7,526,212)(1,924,126)
Ending balance, shares at Jun. 30, 202018,652,640
Beginning balance, value at Mar. 31, 2020 $ 1,640 5,266,496 (6,840,958)(1,572,822)
Beginning balance, shares at Mar. 31, 202017,984,800
Shares issued for cash
Net income (loss) (685,254)(685,254)
Shares issued for services $ 67 333,853 333,920
Shares issued for services, shares667,840
Ending balance, value at Jun. 30, 2020 $ 1,707 5,600,349 (7,526,212)(1,924,126)
Ending balance, shares at Jun. 30, 202018,652,640
Beginning balance, value at Dec. 31, 2020 $ 2,519 8,954,985 (14,100,846)(5,143,342)
Beginning balance, shares at Dec. 31, 202025,178,840
Retroactive application of recapitalization $ 1 (298,062) (298,061)
Retroactive application of recapitalization, shares8,000 1,589,400
Shares issued for cash $ 244 2,436,256 471,000 2,907,500
Shares issued for cash, shares2,436,500
Net income (loss) (1,950,081)(1,950,081)
Shares issued for services $ 77 769,923 770,000
Shares issued for services, shares770,000
Ending balance, value at Mar. 31, 2021 $ 1 $ 2,839 11,863,102 471,000 (16,050,404)(3,713,985)
Ending balance, shares at Mar. 31, 20218,000 29,974,740
Beginning balance, value at Dec. 31, 2020 $ 2,519 8,954,985 (14,100,846)(5,143,342)
Beginning balance, shares at Dec. 31, 202025,178,840
Net income (loss)(4,663,316)
Ending balance, value at Jun. 30, 2021 $ 1 $ 3,106 16,538,223 82,500 (18,764,162)(2,140,332)
Ending balance, shares at Jun. 30, 20218,000 32,640,404
Beginning balance, value at Mar. 31, 2021 $ 1 $ 2,839 11,863,102 471,000 (16,050,404)(3,713,985)
Beginning balance, shares at Mar. 31, 20218,000 29,974,740
Shares issued for cash $ 128 1,922,368 (388,500) 1,533,996
Shares issued for cash, shares1,281,664
Net income (loss) (2,713,235)(2,713,235)
Shares issued for services $ 69 1,034,931 1,035,000
Shares issued for services, shares690,000
Ending balance, value at Jun. 30, 2021 $ 1 $ 3,106 16,538,223 82,500 (18,764,162)(2,140,332)
Ending balance, shares at Jun. 30, 20218,000 32,640,404
[custom:EquityInvestment]
Warrants issued for services 676,892 676,892
Shares issued through conversion of debt $ 69 1,040,931 1,041,000
Shares issued through conversion of debt, Shares694,000
Equity Investment

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)6 Months Ended
Jun. 30, 2021Jun. 30, 2020
OPERATING ACTIVITIES
Net income (loss) $ (4,663,316) $ (2,567,597)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization848 963
Forgiveness of debt(77,500)0
Interest paid0 0
Shares issued for non-employee services1,805,000
Warrants issued for services676,892 333,920
Shares issued for conversion of debt1,041,000 0
Increase (decrease) in:
Accounts receivable0 (5,020)
Inventories0 (211,474)
Right of use asset/liability(658)2,274
Accounts payable1,113,092 232,155
Accrued expenses(525,779)77,000
Deferred revenue0 500,000
NET CASH USED IN OPERATING ACTIVITIES(630,415)(1,637,778)
INVESTING ACTIVITIES
Purchase of license right(750,000)0
Purchase of property and equipment0 0
NET CASH USED IN INVESTING ACTIVITIES(750,000)0
FINANCING ACTIVITIES
Proceeds from notes payable77,595 1,077,500
Repayment of notes payable(527,905)
Repayment of notes payable, related parties(604,000)500,000
Shares from merger transaction(298,061)0
Shares issued for cash4,358,624 0
Cash received for stock subscription82,500 0
NET CASH PROVIDED BY FINANCING ACTIVITIES3,088,753 1,577,500
NET INCREASE IN CASH1,708,339 (60,278)
CASH AT BEGINNING OF PERIOD202,965 440,088
CASH AT END OF PERIOD1,911,304 379,810
SUPPLEMENTAL DISCLOSURES
Interest paid0 0
Taxes paid (refunded) $ 0 $ 0

DESCRIPTION OF BUSINESS AND BAS

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATIONNOTE 1 – DESCRIPTION OF BUSINESS AND
BASIS OF PRESENTATION Nature of Business The Company is located in Wexford, PA, and engages
primarily in the acquisition, development, and commercialization of pharmaceutical products. Basis of Presentation - As a result of the Merger, the financial statements
included in this report reflect (1) the historical operating results of Coeptis prior to the Merger; (2) the combined results of the Company
and Coeptis following the closing of the Merger; (3) the assets and liabilities of Coeptis at their historical cost; and (4) the Company’s
equity structure for all periods presented. Risks and Uncertainties

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING
POLICIES The Company’s significant accounting policies
are described in Note 2 “Summary of Significant Accounting Policies,” in the Company’s Annual Report on Form 10-KT filed
with the U.S. Securities and Exchange Commission (“SEC”) on May 11, 2021. There have been no material changes to the significant
accounting policies during the period ended June 30, 2021, except for items mentioned below. Principles of Consolidation Use of Estimates Accounting for non-employee share-based payments Adoption of New Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12,
“Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes”. ASU 2019-12 simplifies the accounting for income
taxes by removing certain exceptions to the general principals in Topic 740. The amendments also improve consistent application of and
simplify generally accepted accounting principles (GAAP) for other areas of Topic 740 by clarifying and amending the existing guidance.
For public business entities, the guidance is effective for annual periods, and interim periods within those annual periods, beginning
after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The adoption of this standard, effective
January 1, 2021, did not have a material impact on these financial statements. During the six months ended June 30, 2021, there
were several new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted
by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact
on the Company’s financial statements.

LICENSE RIGHT

LICENSE RIGHT6 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
LICENSE RIGHTNOTE 3 – LICENSE RIGHT In 2019, the Company entered into an agreement
with a foreign entity to market, distribute, and sell the Consensi product (Product) on an exclusive basis within the United States and
Puerto Rico. Upon execution of the Agreement the Company paid $1,000,000 to the foreign entity. Milestone payments were due as follows;
(1) $1,500,000 upon completion of the CMC Plan as reimbursements of costs incurred by the foreign entity, (2) $1,000,000 was due upon
first commercial sale of the Product which occurred in June 2020. Milestones were not met during six months ended June 30, 2021 and 2020. During the fourth quarter of 2020, the Company
determined that there was a reduction of the useful life of the asset, resulting in a full impairment of the asset. The carrying value
of the license right at June 30, 2021 and December 31, 2020 was $ 0 0 0 On May 6, 2021, the Company made initial
payments under two definitive agreements. The two definitive option purchase agreements are with VyGen-Bio, Inc.
(“Vy-Gen”), pursuant to which the Company has the exclusive option to acquire co-development rights with respect to two
Vy-Gen product candidates. The Company paid a total of $750,000

LONG-TERM DEBT

LONG-TERM DEBT6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBTNOTE 4 – LONG-TERM DEBT The Company entered into a note payable agreement
with an unrelated company with a conversion option. The principal amount of $ 200,000 9 June 15, 2020 200,000 In January 2020, the Company entered into a Senior
Secured Note agreement with an unrelated party. The principal amount of $ 500,000 8 2 February 8, 2021 500,000 In January 2020, the Company entered into a Senior
Secured Note agreement with a related party stockholder. The principal amount of $ 250,000 8 2 February 8, 2021 0 250,000 In January 2020, the Company entered into another
Senior Secured Note agreement with a stockholder. The principal amount of $ 250,000 8 2 February 8, 2021 0 250,000 In January 2020, the Company entered into a Senior
Secured Note agreement with an unrelated party. The principal amount of $ 333,000 8 2 February 8, 2021 0 333,000 In January 2020, the Company entered into a Senior
Secured Note agreement with an unrelated party. The principal amount of $ 167,000 8 2 February 8, 2021 167,000 In September 2020, the Company entered a non-interest
bearing, unsecured note agreement with two shareholders for $ 104,000 0 104,000 Interest accrued on the related party notes at
June 30, 2021 and December 31,2020 was $ 0 40,000 Loans under the CARES Act 77,500 77,595 77,500 77,595 77,500 On July 8, 2020 the Company received a loan of
$ 150,000 3.75 150,000 Maturities of long-term debt for the quarter
ended June 30, 2021 are as follows:
Maturities of long-term debt
2021(remaining 6 months) $ –
2022 –
2023 2,001
2024 5,279
2025 8,682
Thereafter 134,038
Total long-term debt $ 150,000

CAPITAL STRUCTURE

CAPITAL STRUCTURE6 Months Ended
Jun. 30, 2021
Equity [Abstract]
CAPITAL STRUCTURENOTE 5 – CAPITAL STRUCTURE The total number of shares of stock which the
corporation shall have authority to issue is 760,000,000 750,000,000 0.0001 10,000,000 0.0001 Common Stock - 32,640,404 18,652,640 In 2021 and 2020, the Company raised capital
by issuance of common stock above the stated par value. The contributed capital recognized as additional paid in capital during the six
months ended June 30, 2021 and 2020 was $ 4,358,624 99,980 Series A Preferred Stock - 0 Series B Convertible Preferred Stock - 2,000,000 0.0001 All shares of the Series B Preferred Stock shall
rank (i) senior to the Corporation’s Common Stock and any other class or series of capital stock of the Corporation hereafter created,
(ii) pari passu with any class or series of capital stock of the Corporation hereafter created and specifically ranking, by its terms,
on par with the Series B Preferred Stock and (iii) junior to any class or series of capital stock of the Corporation hereafter created
specifically ranking, by its terms, senior to the Series B Preferred Stock, in each case as to distribution of assets upon liquidation,
dissolution or winding up of the Corporation, whether voluntary or involuntary. The Series B Preferred shall have no liquidation
preference over any other class of stock. Each holder of outstanding shares of Series B
Preferred Stock shall be entitled to the number of votes equal to equal to one thousand (1,000) Common Shares. Except as provided by law,
or by the provisions establishing any other series of Preferred Stock, holders of Series B Preferred Stock and of any other outstanding
series of Preferred Stock shall vote together with the holders of Common Stock as a single class. Each holder of shares of Series B Preferred Stock
may, at any time and from time to time, convert (an “Optional Conversion”) each of its shares of Series B Preferred Stock
into a 1,000 of fully paid and nonassessable shares of Common Stock; provided, however, that any Optional Conversion must involve the
issuance of at least 100 shares of Common Stock. In the event of a reverse split, the conversion
ratio shall not be changed. However, in the event a forward split shall occur then the conversion ratio shall be modified to be increased
by the same ratio as the forward split. The Company has evaluated the Series B Preferred
Stock in accordance with ASC 815 and has determined their conversion options were for equity and ASC 815 did not apply as of June 30,
2021. The Company has evaluated the Series B Preferred Stock in accordance with FASB ASC Subtopic 47020 and has determined that there
is no beneficial conversion feature that must be accounted for as of June 30, 2021. As of June 30, 2021 , there were 8,000 Common Stock Warrants - 500,000 2 5 November
30, 2023 On May 28, 2021, the Company issued a warrant
to a third party in exchange for professional services, granting the warrant holder the right to purchase 500,000
1
500,000
2
500,000
5
June
1, 2026

ASSET PURCHASE AGREEMENT

ASSET PURCHASE AGREEMENT6 Months Ended
Jun. 30, 2021
Asset Purchase Agreement
ASSET PURCHASE AGREEMENTNOTE 6 – ASSET PURCHASE AGREEMENT On June 18, 2019, the Company entered into an
Asset Purchase Agreement with ANI Pharmaceuticals, Inc. (ANI) for the sale of certain intellectual property and materials related to the
research and development related to potential ANDA candidates. The Company recognized revenue of approximately $ 2,300,000 In addition to the original purchase price, the
Company is due an additional $2,000,000 with respect to the Product that is Vigabatrin 500mg tablets (tablets) as follows; (A) $250,000
within 30 days following the completion of all bioequivalence studies related to tablets, (B) $250,000 within 45 days of the first date
on which annual gross profit from the sale of tablets reaches $1,000,000 in a calendar year, (C) $500,000 within 45 days of the first
date on which annual gross profit from the sale of tablets reaches $5,000,000 in a calendar year, (D) $1,000,000 within 45 days of the
first date on which annual gross profit from the sale of tablets reaches $10,000,000 in a calendar year. As of six months ended June 30,
2021 and 2020, and through this date, none of these milestones have occurred. Because collection of these milestone payments is not reasonably
assured, we have not recorded any revenues in the accompanying financial statements. Also, the Company is due an additional $1,750,000
with respect to the Product that is Vigabatrin 500mg powder for Oral Solution (powder) as follows; (A) $250,000 within 45 days of the
first date on which annual gross profit from the sale of powder reaches $1,000,000 in a calendar year, (B) $500,000 within 45 days of
the first date on which annual gross profit from the sale of powder reaches $5,000,000 in a calendar year, (C) $1,000,000 within 45 days
of the first date on which annual gross profit from the sale of powder reaches $10,000,000 in a calendar year. As of six months ended
June 30, 2021 and 2020, and through this date, none of these milestones have occurred. Because collection of these milestone payments
is not reasonably assured, we have not recorded any revenues in the accompanying financial statements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES6 Months Ended
Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIESNOTE 7 – COMMITMENTS AND CONTINGENCIES Leases 11,250 10,500 Future minimum rental payments required under
the lease are as follows:
Schedule of future minimum rental payments
2021 (remaining 6 months) $ 22,500
2022 15,000 Legal Matters Royalty Obligations - 1,000,000 Royalty Advances 0 250,000 Minimum
Payment Obligation –

401(k) PROFIT-SHARING PLAN

401(k) PROFIT-SHARING PLAN6 Months Ended
Jun. 30, 2021
Retirement Benefits [Abstract]
401(k) PROFIT-SHARING PLANNOTE 8 - 401(k) PROFIT-SHARING PLAN The Company sponsors a qualified profit-sharing
plan with a 401(k) feature that covers all eligible employees. Participation in the 401(k) feature of the plan is voluntary. Participating
employees may defer up to 100% of their compensation up to the maximum prescribed by the Internal Revenue Code. The plan permits for employee
elective deferrals but has no contribution requirements for the Company. During the six months ended June 30, 2021 and 2020, no

INCOME TAXES

INCOME TAXES6 Months Ended
Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXESNOTE 9 – INCOME TAXES For the six months ended June 30, 2021 and 2020,
respectively, no

SUBSEQUENT EVENT

SUBSEQUENT EVENT6 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTNOTE 10 – SUBSEQUENT EVENT On July 12, 2021, the company has legally changed
its name from Vinings Holdings, Inc. to Coeptis Therapeutics, Inc. On August 15, 2021, the Company entered into
amendments to each of the two VyGen-Bio definitive option purchase agreements. See FN 3 for a description of such amendments and related
matters.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]
Principles of ConsolidationPrinciples of Consolidation
Use of EstimatesUse of Estimates
Accounting for non-employee share-based paymentsAccounting for non-employee share-based payments
Adoption of New Accounting Pronouncements –Adoption of New Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12,
“Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes”. ASU 2019-12 simplifies the accounting for income
taxes by removing certain exceptions to the general principals in Topic 740. The amendments also improve consistent application of and
simplify generally accepted accounting principles (GAAP) for other areas of Topic 740 by clarifying and amending the existing guidance.
For public business entities, the guidance is effective for annual periods, and interim periods within those annual periods, beginning
after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The adoption of this standard, effective
January 1, 2021, did not have a material impact on these financial statements. During the six months ended June 30, 2021, there
were several new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted
by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact
on the Company’s financial statements.

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]
Maturities of long-term debtMaturities of long-term debt
2021(remaining 6 months) $ –
2022 –
2023 2,001
2024 5,279
2025 8,682
Thereafter 134,038
Total long-term debt $ 150,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)6 Months Ended
Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental paymentsSchedule of future minimum rental payments
2021 (remaining 6 months) $ 22,500
2022 15,000

LICENSE RIGHT (Details Narrativ

LICENSE RIGHT (Details Narrative) - USD ($)4 Months Ended6 Months Ended
May 06, 2021Jun. 30, 2021Jun. 30, 2020Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
License right $ 750,000 $ 0
Amortization expense0 $ 0
Payments to Acquire Intangible Assets750,000 $ 0
Consensi License Right [Member]
Finite-Lived Intangible Assets [Line Items]
License right $ 0 $ 0
Vy Gen Options [Member]
Finite-Lived Intangible Assets [Line Items]
Payments to Acquire Intangible Assets $ 750,000

Long-Term Debt (Details)

Long-Term Debt (Details)Jun. 30, 2021USD ($)
Debt Disclosure [Abstract]
2021(remaining 6 months) $ 0
2022
20232,001
20245,279
20258,682
Thereafter134,038
 Total long-term debt $ 150,000

LONG-TERM DEBT (Details Narrati

LONG-TERM DEBT (Details Narrative) - USD ($)2 Months Ended4 Months Ended6 Months Ended
Jun. 30, 2021Feb. 28, 2021May 06, 2020Jun. 30, 2021Jul. 08, 2020Dec. 31, 2020
Debt Instrument [Line Items]
Accrued interest $ 0 $ 0 $ 40,000
Debt Instrument, Decrease, Forgiveness77,500
Note Payable [Member]
Debt Instrument [Line Items]
Principal amount $ 200,000 $ 200,000
Debt stated interest rate9.00%9.00%
Debt maturity dateJun. 15,
2020
Note Payable 1 [Member]
Debt Instrument [Line Items]
Note payable200,000
Note Payable 2 [Member]
Debt Instrument [Line Items]
Principal amount $ 500,000 $ 500,000
Debt stated interest rate8.00%8.00%
Debt maturity dateFeb. 8,
2021
Note payable $ 500,000 $ 500,000 500,000
Debt interest rate increase if in default2.00%
Note Payable 3 [Member]
Debt Instrument [Line Items]
Principal amount $ 250,000 $ 250,000
Debt stated interest rate8.00%8.00%
Debt maturity dateFeb. 8,
2021
Note payable $ 0 $ 0 250,000
Debt interest rate increase if in default2.00%
Note Payable 4 [Member]
Debt Instrument [Line Items]
Principal amount $ 250,000 $ 250,000
Debt stated interest rate8.00%8.00%
Debt maturity dateFeb. 8,
2021
Note payable $ 0 $ 0 250,000
Debt interest rate increase if in default2.00%
Note Payable 5 [Member]
Debt Instrument [Line Items]
Principal amount $ 333,000 $ 333,000
Debt stated interest rate8.00%8.00%
Debt maturity dateFeb. 8,
2021
Note payable $ 0 $ 0 333,000
Debt interest rate increase if in default2.00%
Note Payable 6 [Member]
Debt Instrument [Line Items]
Principal amount $ 167,000 $ 167,000
Debt stated interest rate8.00%8.00%
Debt maturity dateFeb. 8,
2021
Note payable $ 167,000 $ 167,000 167,000
Debt interest rate increase if in default2.00%
Note Payable 7 [Member]
Debt Instrument [Line Items]
Principal amount $ 104,000 104,000
Note payable0 0 104,000
Ppp Loan [Member]
Debt Instrument [Line Items]
Note payable $ 77,595 $ 77,595 77,500
Proceeds from loan $ 77,595 $ 77,500
Eidl Loan [Member]
Debt Instrument [Line Items]
Debt stated interest rate3.75%3.75%
Note payable $ 150,000 $ 150,000 $ 150,000
Proceeds from loan $ 150,000

CAPITAL STRUCTURE (Details Narr

CAPITAL STRUCTURE (Details Narrative) - USD ($)6 Months Ended
Jun. 30, 2021Jun. 30, 2020May 28, 2021Dec. 31, 2020Nov. 23, 2020Mar. 31, 2020
Class of Stock [Line Items]
Number of share issued760,000,000
Common stock, shares authorized750,000,000 750,000,000
Common stock, par value $ 0.0001 $ 0.0001
Preferred stock, shares authorized10,000,000 10,000,000
Preferred stock, par value $ 0.0001 $ 0.0001
Common stock, shares issued32,640,404 25,178,840
Common stock, shares outstanding32,640,404 25,178,840
Adjustments to Additional Paid in Capital, Other $ 4,358,624 $ 99,980
Preferred stock, shares outstanding8,000 0
Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares issued32,640,404
Common stock, shares outstanding32,640,404 18,652,640
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding0
Series B Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized2,000,000
Preferred stock, par value $ 0.0001
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding8,000
Warrant Class A [Member] | Coral Investment Partners [Member]
Class of Stock [Line Items]
Warrants outstanding500,000
Warrant exercise price $ 2
Warrant expiration dateNov. 30,
2023
Warrant Class B [Member] | Coral Investment Partners [Member]
Class of Stock [Line Items]
Warrants outstanding500,000
Warrant exercise price $ 5
Warrant expiration dateNov. 30,
2023
Common Stock Warrants [Member] | Warrant Holder [Member]
Class of Stock [Line Items]
Warrants outstanding500,000
Warrant exercise price $ 1
Warrant expiration dateJun. 1,
2026
Common Stock Warrants [Member] | Warrant Holder 1 [Member]
Class of Stock [Line Items]
Warrants outstanding500,000
Warrant exercise price $ 2
Common Stock Warrants [Member] | Warrant Holder 2 [Member]
Class of Stock [Line Items]
Warrants outstanding500,000
Warrant exercise price $ 5

ASSET PURCHASE AGREEMENT (Detai

ASSET PURCHASE AGREEMENT (Details Narrative) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020Jun. 18, 2019
AssetPurchaseAgreementLineItems [Line Items]
Revenue recognized from assets sale $ 0 $ 16,365 $ 75,000 $ 20,874
Asset Purchase Agreement [Member] | Ani Pharmaceuticals [Member]
AssetPurchaseAgreementLineItems [Line Items]
Revenue recognized from assets sale $ 2,300,000

Commitments and Contingencies_2

Commitments and Contingencies (Details)Jun. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021 (remaining 6 months) $ 22,500
2022 $ 15,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)6 Months Ended
Jun. 30, 2021Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense $ 11,250 $ 10,500
Royalty payable1,000,000
Proceeds from royalties $ 0 $ 250,000

401(k) PROFIT-SHARING PLAN (Det

401(k) PROFIT-SHARING PLAN (Details Narrative) - USD ($)6 Months Ended
Jun. 30, 2021Jun. 30, 2020
Retirement Benefits [Abstract]
Employer contribution $ 0 $ 0

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)3 Months Ended6 Months Ended
Jun. 30, 2021Jun. 30, 2020Jun. 30, 2021Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income tax expense benefit $ 0 $ 0 $ 0 $ 0