DELAWARE
|
33-0824714
|
(State
of Incorporation)
|
(I.R.S.
Employer Identification No.)
|
8885
Rehco Road, San Diego, California
|
92121
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
BIO-MATRIX
SCIENTIFIC GROUP, INC. AND SUBSIDIARIES
|
||||||||
(A
Development Stage Company)
|
||||||||
Consolidated
Balance Sheets
|
||||||||
as
of
|
as
of
|
|||||||
March
31, 2009
|
September
30,2008
|
|||||||
(unaudited)
|
||||||||
ASSETS
|
||||||||
CURRENT
ASSETS
|
||||||||
Cash
|
$ | 6,621 | $ | 8,410 | ||||
Securities
Available for sale
|
550,000 | |||||||
Pre-paid
Expenses
|
29,011 | 49,258 | ||||||
Total
Current Assets
|
35,632 | 607,668 | ||||||
PROPERTY
& EQUIPMENT (Net of Accumulated Depreciation)
|
538,868 | 538,868 | ||||||
Other
Assets
|
25,507 | 21,307 | ||||||
TOTAL
ASSETS
|
$ | 600,007 | $ | 1,167,843 | ||||
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
||||||||
CURRENT
LIABILITIES
|
||||||||
Accounts
payable
|
$ | 63,307 | $ | 89,974 | ||||
Notes
Payable
|
330,539 | 111,459 | ||||||
Due
to Shareholder
|
50,000 | |||||||
Accrued
Payroll
|
306,000 | 150,000 | ||||||
Accrued
Payroll taxes
|
28,479 | 29,998 | ||||||
Accrued
Interest
|
54,109 | 24,323 | ||||||
Accrued
expenses
|
35,000 | 30,000 | ||||||
Current
Portion of Convertible Note
|
503,400 | |||||||
Current
Portion of Note to Affiliated party
|
1,000 | |||||||
Total
Current Liabilities
|
1,371,834 | 435,754 | ||||||
LONG
TERM LIABILITIES
|
||||||||
Convertible
Note (Less Current Portion)
|
503,400 | |||||||
Note
to Affiliated Party (Less Current Portion)
|
500,000 | |||||||
TOTAL
LIABILITIES
|
1,371,834 | 1,439,154 | ||||||
STOCKHOLDERS'
EQUITY
|
||||||||
Preferred
Stock ($.0001 par value)
|
||||||||
20,000,000
shares authorized; 5,668,547 and 4,724,478
|
474 | 567 | ||||||
issued
and outstanding as of September 30, 2008 and March 31,
2009
|
||||||||
Series
AA Preferred Stock ($0.001 par value)
|
||||||||
100,000
shares authorized, 4852 issued and outstanding
|
||||||||
as
of September 30, 2008 and March 31, 2009
|
||||||||
Common
Stock, ($.0001 par value)
|
||||||||
80,000,000
shares authorized; 24,870,869 and 31,162,654
|
||||||||
shares
issued and outstanding as of September 30, 2008 and March 31,
2008
|
3,117 | 2,488 | ||||||
Additional
paid in Capital
|
8,280,520 | 7,631,648 | ||||||
Contributed
Capital
|
499,000 | |||||||
Accumulated
Other Comprehensive Income
|
50,000 | |||||||
Deficit
accumulated during the development stage
|
(9,554,925 | ) | (7,956,014 | ) | ||||
Total
Stockholders' Equity (Deficit)
|
$ | (771,814 | ) | $ | (271,311 | ) | ||
TOTAL
LIABILITIES
|
||||||||
&
STOCKHOLDERS' EQUITY
|
$ | 600,007 | $ | 1,167,843 | ||||
3
Months
|
3
Months
|
6
Months
|
6
months
|
From
Inception
|
||||||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
(August
2, 2005)
|
||||||||||||||||
March
31, 2009
|
March
31, 2008
|
March
31, 2009
|
March
31, 2008
|
through
|
||||||||||||||||
(unaudited)
|
(unaudited)
|
(unaudited)
|
(unaudited)
|
March
31,2009
|
||||||||||||||||
(unaudited)
|
||||||||||||||||||||
REVENUES
|
||||||||||||||||||||
Sales
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Total
Revenues
|
0 | 0 | 0 | 0 | 0 | |||||||||||||||
COSTS
AND EXPENSES
|
||||||||||||||||||||
Research
and Development
|
36,147 | 37,068 | 79,775 | 71,375 | 737,682 | |||||||||||||||
General
and administrative
|
252,395 | 225,376 | 509,599 | 450,651 | 3,924,803 | |||||||||||||||
Depreciation
and amortization
|
333 | 453 | 2,668 | |||||||||||||||||
Consulting
and professional fees
|
403,289 | 228,321 | 465,589 | 278,765 | 4,224,121 | |||||||||||||||
Impairment
of goodwill & intangibles
|
34,688 | |||||||||||||||||||
Total
Costs and Expenses
|
691,831 | 399,091 | 1,054,963 | 801,244 | 8,923,962 | |||||||||||||||
OPERATING
LOSS
|
(691,831 | ) | (399,091 | ) | (1,054,963 | ) | (801,244 | ) | (8,923,962 | ) | ||||||||||
OTHER
INCOME & (EXPENSES)
|
||||||||||||||||||||
Interest
Expense
|
(30,457 | ) | (18,334 | ) | (56,047 | ) | (21,993 | ) | (143,395 | ) | ||||||||||
Interest
Income
|
306 | |||||||||||||||||||
Other
income
|
100 | 100 | 100 | |||||||||||||||||
Loss
on sale of Available for Sale Securities
|
(487,900 | ) | (487,900 | ) | (487,900 | ) | ||||||||||||||
Other
Expense
|
(74 | ) | ||||||||||||||||||
Total
Other Income & (Expenses)
|
(518,357 | ) | (18,234 | ) | (543,947 | ) | (21,893 | ) | (630,963 | ) | ||||||||||
NET
INCOME (LOSS)
|
$ | (1,210,188 | ) | $ | (417,325 | ) | $ | (1,598,910 | ) | $ | (823,137 | ) | $ | (9,554,925 | ) | |||||
Loss
attributable to common shareholders
|
$ | (1,210,188 | ) | $ | (417,325 | ) | $ | (1,598,910 | ) | $ | (823,137 | ) | $ | (9,554,925 | ) | |||||
BASIC
AND DILUTED EARNINGS (LOSS) PER SHARE
|
$ | (0.0380 | ) | $ | (0.0170 | ) | $ | (0.1430 | ) | $ | (0.0350 | ) | ||||||||
WEIGHTED
AVERAGE NUMBER OF COMMON
|
31,336,601 | 23,548,744 | 11,173,861 | 23,442,004 | ||||||||||||||||
SHARES
OUTSTANDING
|
||||||||||||||||||||
The
Following Notes are an integral part of these Financial
Statements
|
||||||||||||||||||||
Series
|
|
Accumulated
|
||||||||||||||||||||||||||||||||
AA
Preferred
|
Preferred
|
Common
|
Additional Paid-in |
Retained
|
Contributed
|
Other Comprehensive |
||||||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Shares
|
Amount
|
Capital
|
Earnings
|
Capital
|
Income(Loss)
|
Total
|
||||||||||||||||||||||||
Shares
issued to parent
|
25,000 | 35,921 | 0 | 35,921 | ||||||||||||||||||||||||||||||
Net
Loss August 2, 2005
|
0 | |||||||||||||||||||||||||||||||||
through
September 30, 2005
|
(1,000 | ) | (1,000 | ) | ||||||||||||||||||||||||||||||
Balance
September 30, 2005
|
25,000 | 35,921 | 0 | (1,000 | ) | 34,921 | ||||||||||||||||||||||||||||
Net
Loss October 1, 2005
|
0 | |||||||||||||||||||||||||||||||||
through
December 31, 2005
|
(366,945 | ) | (366,945 | ) | ||||||||||||||||||||||||||||||
Balance
December 31, 2005
|
25,000 | 35,921 | 0 | (367,945 | ) | (332,024 | ) | |||||||||||||||||||||||||||
Recapitalization
|
9,975,000 | (34,921 | ) | 34,921 | 0 | |||||||||||||||||||||||||||||
Stock
issued Tasco merger
|
2,780,000 | 278 | (278 | ) | 0 | |||||||||||||||||||||||||||||
Stock
issued for services
|
305,000 | 31 | 759,719 | 759,750 | ||||||||||||||||||||||||||||||
Stock
issued for Compensation
|
300,000 | 30 | 584,970 | 585,000 | ||||||||||||||||||||||||||||||
Net
Loss January 1, 2006
|
||||||||||||||||||||||||||||||||||
through
September 30, 2006
|
(2,053,249 | ) | (2,053,249 | ) | ||||||||||||||||||||||||||||||
Balance
September 30, 2006
|
13,385,000 | 1,339 | 1,379,332 | (2,421,194 | ) | (1,040,523 | ) | |||||||||||||||||||||||||||
Stock
issued for services
|
100,184 | 10 | 112,524 | 112,534 | ||||||||||||||||||||||||||||||
Stock
issued for Compensation
|
153,700 | 15 | 101,465 | 101,480 | ||||||||||||||||||||||||||||||
Stock
issued in exchange for canceling debt
|
2,854,505 | 284 | 1,446,120 | 1,446,404 | ||||||||||||||||||||||||||||||
Net
Loss October 1, 2006
|
||||||||||||||||||||||||||||||||||
through
December 31, 2006
|
(466,179 | ) | (466,179 | ) | ||||||||||||||||||||||||||||||
Balance
December 31, 2006
|
16,493,389 | 1,649 | 3,039,441 | (2,887,373 | ) | 153,717 | ||||||||||||||||||||||||||||
Stock
issued for cash
|
500,000 | 50 | 124,950 | 125,000 | ||||||||||||||||||||||||||||||
Stock
issued for services
|
359,310 | 36 | 235,042 | 235,078 | ||||||||||||||||||||||||||||||
Stock
issued for Compensation
|
143,920 | 14 | 88,400 | 88,414 | ||||||||||||||||||||||||||||||
Stock
issued in exchange for canceling debt
|
500,000 | 50 | 124,950 | 125,000 | ||||||||||||||||||||||||||||||
Net
Loss January 1, 2007
|
||||||||||||||||||||||||||||||||||
through
March 31, 2007
|
(515,624 | ) | (515,624 | ) | ||||||||||||||||||||||||||||||
Balance
March 31, 2007
|
17,996,619 | 1,800 | 3,612,783 | (3,402,997 | ) | 211,585 | ||||||||||||||||||||||||||||
Stock
issued for cash
|
240,666 | 24 | 60,142 | 60,166 | ||||||||||||||||||||||||||||||
Stock
issued for services
|
406,129 | 41 | 222,889 | 222,930 | ||||||||||||||||||||||||||||||
Stock
issued for Compensation
|
150,000 | 15 | 110,435 | 110,450 | ||||||||||||||||||||||||||||||
Stock
issued in exchange for canceling debt
|
1,316,765 | 132 | 329,059 | 329,191 | ||||||||||||||||||||||||||||||
Net
Loss April 1, 2007
|
||||||||||||||||||||||||||||||||||
through
June 30, 2007
|
(718,955 | ) | (718,955 | ) | ||||||||||||||||||||||||||||||
Balance
June 30, 2007
|
20,110,179 | 2,011 | 4,335,308 | (4,121,952 | ) | 215,367 | ||||||||||||||||||||||||||||
Stock
issued for cash
|
1,200,000 | 120 | 299,880 | 300,000 | ||||||||||||||||||||||||||||||
Stock
issued for services
|
1,253,000 | 125 | 404,125 | 404,250 | ||||||||||||||||||||||||||||||
Stock
issued for Compensation
|
100,000 | 10 | 24,990 | 25,000 | ||||||||||||||||||||||||||||||
Stock
issued in exchange for canceling debt
|
566,217 | 57 | 143,940 | 143,997 | ||||||||||||||||||||||||||||||
Net
Loss July 1, 2007
|
||||||||||||||||||||||||||||||||||
through
September 30, 2007
|
(751,989 | ) | (751,989 | ) | ||||||||||||||||||||||||||||||
Balance
September 30, 2007
|
23,229,396 | 2,323 | 5,208,244 | (4,873,941 | ) | 336,626 | ||||||||||||||||||||||||||||
Stock
issued for Cash
|
||||||||||||||||||||||||||||||||||
Stock
issued for services
|
191,427 | 19 | 62,108 | 62,127 | ||||||||||||||||||||||||||||||
Net
Loss October 1, 2007
|
||||||||||||||||||||||||||||||||||
through
December 31, 2007
|
(405,812 | ) | (405,812 | ) | ||||||||||||||||||||||||||||||
Balance
December 31, 2007
|
23,420,823 | 2,342 | 5,270,352 | (5,279,753 | ) | (7,059 | ) | |||||||||||||||||||||||||||
Stock
issued for cash
|
575,000 | 57 | 114,942 | 114,999 | ||||||||||||||||||||||||||||||
Stock
issued for services
|
340,000 | 35 | 146,705 | 15 | 106,651 | 106,701 | ||||||||||||||||||||||||||||
Net
Loss January 1 2008
|
||||||||||||||||||||||||||||||||||
through
March 31, 2008
|
(417,325 | ) | (417,325 | ) | ||||||||||||||||||||||||||||||
Balance
March 31, 2008
|
915,000 | 92 | 23,567,528 | 2,357 | 5,491,945 | (5,697,078 | ) | (202,684 | ) | |||||||||||||||||||||||||
Stock
issued for cash
|
2,154,850 | 215 | 672,172 | 672,387 | ||||||||||||||||||||||||||||||
Stock
issued for services
|
1,421,725 | 142 | 232,000 | 23 | 613,439 | 613,604 | ||||||||||||||||||||||||||||
Stock
issued for accrued interest
|
31,245 | 3 | 17,293 | 17,296 | ||||||||||||||||||||||||||||||
Stock
issued as dividend
|
1,075,087 | 108 | (108 | ) | 0 | |||||||||||||||||||||||||||||
Net
Loss April 1,2008
|
||||||||||||||||||||||||||||||||||
to
June 30, 2008
|
(1,063,446 | ) | (1,063,446 | ) | ||||||||||||||||||||||||||||||
Balance
June 30, 2008
|
5,566,662 | 557 | 23,830,773 | 2,383 | 6,794,741 | (6,760,524 | ) | 37,158 | ||||||||||||||||||||||||||
Series
AA Stock issued to Officer July 3, 2008
|
4,852 | |||||||||||||||||||||||||||||||||
Stock
issued for services July 8, 2008
|
905,000 | 91 | 769,159 | 769,250 | ||||||||||||||||||||||||||||||
Stock
issued for Cash July 2, 2008
|
11,667 | 1 | 3,499 | 3,500 | ||||||||||||||||||||||||||||||
Stock
issued for Cash July 25, 2008 (Warrant Exercise)
|
90,000 | 9 | 17,991 | 18,000 | ||||||||||||||||||||||||||||||
Stock
issued for interest between July 30, 2008 and August 30,
2008
|
85,087 | 9 | 21,263 | 21,272 | ||||||||||||||||||||||||||||||
Stock
issued for services September 3, 2008
|
50,000 | 5 | 24,995 | 25,000 | ||||||||||||||||||||||||||||||
Stock
issued due to rounding
|
218 | 9 | ||||||||||||||||||||||||||||||||
Net
Loss July 1, 2008 to September 30, 2008
|
(1,195,491 | ) | (1,195,491 | ) | ||||||||||||||||||||||||||||||
Accumulated
other Comprehensive Income as of September 30, 2008
|
50,000 | 50,000 | ||||||||||||||||||||||||||||||||
Balance
September 30, 2008
|
4,852 | 5,668,547 | 567 | 24,870,869 | 2,488 | 7,631,648 | (7,956,015 | ) | 50,000 | (271,311 | ) | |||||||||||||||||||||||
Stock
Retired in connection with Exchange for Common Shares December 2,
2008
|
(1,099,000 | ) | (109 | ) | (109 | ) | ||||||||||||||||||||||||||||
Stock
issued in connection with Exchange for Preferred Shares December 2,
2008
|
1,099,000 | 109 | 109 | |||||||||||||||||||||||||||||||
Stock
Issued for Accrued Interest on December 3, 2008
|
133,124 | 13 | 33,268 | 33,281 | ||||||||||||||||||||||||||||||
Stock
issued for Cash December 31, 2008
|
66,670 | 7 | 6,660 | 6,667 | ||||||||||||||||||||||||||||||
Stock
issued for services December 31, 2008
|
33,330 | 3 | 3,330 | 3,333 | ||||||||||||||||||||||||||||||
Stock
issued for Cash December 31, 2008
|
75,000 | 8 | 11,242 | 11,250 | ||||||||||||||||||||||||||||||
Contributed
capital
|
499,000 | 499,000 | ||||||||||||||||||||||||||||||||
Net
Loss October 1, 2008 to December 31, 2008
|
(388,722 | ) | (388,722 | ) | ||||||||||||||||||||||||||||||
Accumulated
other Comprehensive Income as of December 31, 2008
|
(540,000 | ) | (540,000 | ) | ||||||||||||||||||||||||||||||
Balance
December 31, 2008
|
4,852 | 4,744,547 | 476 | 26,102,993 | 2,610 | 7,686,148 | (8,344,737 | ) | 499,000 | (490,000 | ) | (646,502 | ) | |||||||||||||||||||||
Stock
issued for Services January 7,2009
|
50,000 | 5 | 7,495 | 7,500 | ||||||||||||||||||||||||||||||
Stock
issued for Services January 7, 2009
|
1,400,000 | 140 | 209,860 | 210,000 | ||||||||||||||||||||||||||||||
Stock
issued for Cash January 7,2009
|
67,000 | 7 | 6,693 | 6,700 | ||||||||||||||||||||||||||||||
Stock
issued for Cash January 14,2009
|
1,300,000 | 130 | 104,868 | 104,998 | ||||||||||||||||||||||||||||||
Stock
issued for Cash January 14,2009
|
25,000 | 2 | ||||||||||||||||||||||||||||||||
Stock
issued for Cash January 15,2009
|
35,000 | 4 | 6,996 | 7,000 | ||||||||||||||||||||||||||||||
Stock
issued for Services January 15, 2009
|
100,000 | 10 | 19,990 | 20,000 | ||||||||||||||||||||||||||||||
Stock
issued for Services January 21, 2009
|
37,925 | 4 | 11,373 | 11,377 | ||||||||||||||||||||||||||||||
Stock
issued for Cash January 21, 2009
|
35000 | 4 | 6,996 | 7,000 | ||||||||||||||||||||||||||||||
Stock
Retired in connection with Exchange for Common Shares January
27,2009
|
(27,450 | ) | (3 | ) | (3 | ) | ||||||||||||||||||||||||||||
Stock
issued in connection with Exchange for Preferred Shares January
27,2009
|
27,450 | 3 | 3 | |||||||||||||||||||||||||||||||
Stock
issued for Cash January 28, 2009
|
10,000 | 1 | 1,999 | 2,000 | ||||||||||||||||||||||||||||||
Stock
issued for cash February 3, 2009
|
63,000 | 6 | 6294 | 6,300 | ||||||||||||||||||||||||||||||
Stock
issued for Services January 24,2009
|
200,000 | 20 | 35980 | 36,000 | ||||||||||||||||||||||||||||||
Stock
issued for cash February 13, 2009
|
200,000 | 20 | 29,980 | 30,000 | ||||||||||||||||||||||||||||||
Stock
issued for cash February 25, 2009
|
66,667 | 7 | 5,993 | 6,000 | ||||||||||||||||||||||||||||||
Stock
Issued for Debt March 3, 2009
|
1,000,000 | 100 | 99,900 | 100,000 | ||||||||||||||||||||||||||||||
Stock
Retired in connection with Exchange for Common Shares March 10
,2009
|
(214,286 | ) | (21 | ) | (21 | ) | ||||||||||||||||||||||||||||
Stock
issued in connection with Exchange for Preferred Shares march 10,
2009
|
214286 | 21 | 21 | |||||||||||||||||||||||||||||||
Stock
Retired in connection with Exchange for Common Shares March 13
,2009
|
(250,000 | ) | (25 | ) | (25 | ) | ||||||||||||||||||||||||||||
Stock
issued in connection with Exchange for Preferred Shares march 13,
2009
|
250,000 | 25 | 25 | |||||||||||||||||||||||||||||||
Stock
issued for Cash March 13, 2009
|
200,000 | 20 | 14,980 | 15,000 | ||||||||||||||||||||||||||||||
Stock
issued for services March 31, 2009
|
250,000 | 25 | 24,975 | 25,000 | ||||||||||||||||||||||||||||||
Accumulated
Other Comprehensive Income as of March 31, 2009
|
490,000 | 490,000 | ||||||||||||||||||||||||||||||||
Net
Loss January 1, 2009 to march 31, 2009
|
(1,210,188 | ) | (1,210,188 | ) | ||||||||||||||||||||||||||||||
Balance
March 31, 2009
|
4,852 | 4,724,478 | 474 | 31,162,654 | 3,117 | 8,280,520 | (9,554,925 | ) | 499,000 | 0 | (771,815 | ) | ||||||||||||||||||||||
The
Following Notes are an integral part of these Financial
Statements
|
From
August 2, 2005
|
||||||||||||
(Inception)
|
||||||||||||
6
months Ended
|
6
months Ended
|
through
|
||||||||||
March
31, 2009
|
March
31, 2008
|
March
31, 2009
|
||||||||||
(unaudited)
|
(unaudited)
|
(unaudited)
|
||||||||||
OPERATING ACTIVITIES
|
||||||||||||
Net
Income (loss)
|
$ | (1,598,910 | ) | $ | (823,137 | ) | $ | (9,554,925 | ) | |||
Adjustments
to reconcile net loss to net cash (used in) provided
|
||||||||||||
by
operating activities:
|
||||||||||||
Depreciation
expense
|
453 | 2,667 | ||||||||||
Stock
issued for compensation to employees
|
910,342 | |||||||||||
Stock
issued for services rendered by consultants
|
313,210 | 168,829 | 3,634,424 | |||||||||
Stock
issued for interest
|
33,281 | 71,849 | ||||||||||
Changes
in operating assets and liabilities:
|
||||||||||||
(Increase)
decrease in receivables
|
(113 | ) | ||||||||||
(Increase)
decrease in prepaid expenses
|
34,283 | (88,290 | ) | (14,975 | ) | |||||||
Increase
(Decrease) in Accounts Payable
|
(26,667 | ) | 115,032 | 63,307 | ||||||||
Increase
(Decrease) in Accrued Expenses
|
175,231 | 123,999 | 439,499 | |||||||||
Net
Cash Provided by (Used in) Operating Activities
|
(1,069,572 | ) | (503,227 | ) | (4,457,812 | ) | ||||||
INVESTING ACTIVITIES
|
||||||||||||
(
Increase) Decrease in Deposits
|
(4,200 | ) | (25,507 | ) | ||||||||
Purchases
of fixed assets
|
(130,907 | ) | (541,536 | ) | ||||||||
(Additions)
Decreases to Securities Available for Sale
|
500,000 | 0 | ||||||||||
Net
Cash Provided by (Used in) Investing Activities
|
495,800 | (130,907 | ) | (567,043 | ) | |||||||
FINANCING ACTIVITIES
|
||||||||||||
Preferred
Stock issued for cash
|
57 | 57 | 339 | |||||||||
Common
stock issued for cash
|
158 | 1,631 | ||||||||||
Common
Stock issued for Debt
|
100,000 | 100,000 | ||||||||||
Additional
paid in Capital
|
202,701 | 114,942 | 1,530,919 | |||||||||
Principal
borrowings on notes and Convertible Debentures
|
219,080 | 85,349 | 1,149,995 | |||||||||
Increase
(Decrease) Due to Shareholder
|
50,000 | 50,000 | ||||||||||
Convertible
notes
|
503,400 | 503,400 | ||||||||||
Contributed
Capital
|
499,000 | 499,000 | ||||||||||
Increase
(Decrease) in Bank Overdraft
|
(11,534 | ) | 0 | |||||||||
Net
borrowings from related parties
|
1,195,196 | |||||||||||
Increase
(Decrease) in Notes from Affiliated party
|
(499,000 | ) | 1,000 | |||||||||
Net
Cash Provided by (Used in) Financing Activities
|
571,996 | 692,214 | 5,031,480 | |||||||||
Net
Increase (Decrease) in Cash
|
(1,776 | ) | 58,080 | 6,621 | ||||||||
Cash
at Beginning of Period
|
8,410 | 44,110 | 0 | |||||||||
Cash
at End of Period
|
$ | 6,621 | $ | 102,190 | $ | 6,621 | ||||||
Supplemental Cash
Flow Disclosures:
|
||||||||||||
Significant
non-cash activities:
|
||||||||||||
Stock
issued to cancel debt
|
2,044,592 | |||||||||||
Preferred
stock issued for stock dividend
|
108 | |||||||||||
Total
|
2,044,700 | |||||||||||
The
Following Notes are an integral part of these Financial
Statements
|
2009
|
2008
|
||||||||||||||
|
|
||||||||||||||
Warrants
|
Weighted
Average
|
Warrants
|
Weighted
Average
|
||||||||||||
Preferred
Stock
|
Exercise
Price
|
(Common)
|
Exercise
Price
|
||||||||||||
Outstanding
at Beginning of Period
|
141,670
|
0.13
|
0
|
||||||||||||
Granted
|
396,667
|
0.12
|
915,000
|
0.3
|
|||||||||||
Exercised
|
0
|
.
|
0
|
||||||||||||
Expired
Unexercised
|
-141670
|
0.13
|
0
|
||||||||||||
Outstanding
at End of period
|
396,667
|
0.12
|
915,000
|
0.3
|
|
Weighted
Average
|
||||||||
Exercise Price |
Number Outstanding |
Remaining
Contract
Life
(Days)
|
|||||||
.10
|
67,000
|
7
|
|||||||
.10
|
63,000
|
37
|
|||||||
0.15
|
200,000
|
43
|
|||||||
0.09
|
66,667
|
55
|
|||||||
Total
outstanding as of March 31, 2009
|
396,667
|
As
of March 31,2009
|
||||
Deferred
tax assets:
|
||||
Net
operating tax carry forwards
|
$
|
3,357,739
|
||
Other
|
-0-
|
|||
Gross
deferred tax assets
|
3,357,739
|
|||
Valuation
allowance
|
(3,357,739)
|
|||
Net
deferred tax assets
|
$
|
-0-
|
31.1
|
Certification
of Chief Executive Officer
|
31.2
|
Certification
of Acting Chief Financial Officer
|
32.1
|
Certification
of Chief Executive Officer under Section 906 of the Sarbanes-Oxley Act of
2002.
|
32.2
|
Certification
of Acting Chief Financial Officer under Section 906 of the Sarbanes-Oxley
Act of 2002.
|
Bio-
Matrix Scientific Group, Inc.
|
|
a
Delaware corporation
|
|
By:
|
/s/
David R. Koos
|
David
R. Koos
|
|
Chief
Executive Officer
|
|
Date:
May 6, 2009
|