Forward-Looking Statements

Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words "believes," "project," "expects," "anticipates," "estimates," "intends," "strategy," "plan," "may," "will," "would," "will be," "will continue," "will likely result," and similar expressions. We intend such forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of complying with those safe-harbor provisions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse affect on our operations and future prospects on a consolidated basis include, but are not limited to: changes in economic conditions, legislative/regulatory changes, availability of capital, interest rates, competition, and generally accepted accounting principles. These risks and uncertainties should also be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Further information concerning our business, including additional factors that could materially affect our financial results, is included herein and in our other filings with the SEC.

See discussion in section marked: 'Our Business Moving Forward In 2021'

Results of Operations for the Years Ended September 30, 2020 and 2019

We generated no revenues from September 6, 2007 (date of inception) to September 30, 2020. We do not expect to generate revenues until we are able to obtain FDA approval of cell therapy and biotechnology products and thereafter successfully market and sell those products.

We incurred operating expenses of $663,749 for the year ended September 30, 2020, compared with operating expenses of $ 736,553 for the year ended September 30, 2019. Our operating expenses decreased in 2020 from 2019, and are compared as follows:





        Operating Expenses          September 30, 2020     September 30, 2019
        General and Administrative $         663,749      $         705,729
        Stock Based Compensation                  -       $          30,824

We incurred net other expense of $48,775 for the year ended September 30, 2020, as compared to net other expense of $21,903 for the year ended September 30, 2019. Our other income and expenses for 2020 consisted of interest expenses of $47,050 and a loss on other than temporary decline in the fair value of Amarantus stock of $1,725. Our other income and expenses for 2019 consisted of only interest expenses of $17,953 and a loss on other than temporary decline in the fair value of Amarantus stock of $3,950

We had a net loss of $559,591 for the year ended September 30, 2020, as compared with a loss of $758,456 for the prior year. The decrease in loss of $198,865 was due to the reversal of accounts payable in the year ended September 30, 2020 of $ $152,933 , a decrease in G&A expense of $41,980 , a decrease of $30,824 in stock based compensation , a decrease of $2,225 the unrealized loss on securities,offset by an increase in interest expense of $29,097

Our net loss attributable to common stockholders for the year ended September 30, 2020 was $630,583 compared to a net loss of $829,256 for the year ended September 30, 2019. The decrease in loss was $198,673 due to the $198,865 decrease in the loss explained above offset by an increase in the stock dividend of $192.





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Liquidity and Capital Resources

As of September 30, 2020, we had cash of $1,366 and investments of $2,775, for total current assets of $4,141. Our total current liabilities as of September 30, 2019 were $4,291,417. We had a working capital deficit of $4,287,276 as of September 30, 2020.

Operating activities used a net $123,199 in cash for the year ended September 30, 2020. Financing activities provided $123,750 for the year ended September 30, 2020 and consisted entirely of proceeds from loans from officers.

We have issued various promissory notes over the course of the last several fiscal years in order to continue funding our operations. The terms of these promissory notes are detailed in Note G to the financial statements accompanying this Annual Report. While this financing has been helpful in the short term to meet our financial obligations, we will need additional financing to fund our operations, continue with the FDA approval process, and implement our business plan over the long term. We will thus once again be seeking additional financing during the fiscal year end September 30, 2021.





Going Concern

Our financial statements have been prepared assuming that we will continue as a going concern which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. We have incurred cumulative losses to date, expect to incur further losses in the development of our business, and have been dependent on funding operations through the issuance of convertible debt and private sale of equity securities. These conditions raise substantial doubt about our ability to continue as a going concern. Management's plans include continuing to finance operations through the private or public placement of debt and/or equity securities and the reduction of expenditures. However, no assurance can be given at this time as to whether we will be able to achieve these objectives. The financial statements do not include any adjustment relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern.





Critical Accounting Policies

In December 2001, the SEC requested that all registrants list their most "critical accounting polices" in the Management Discussion and Analysis. The SEC indicated that a "critical accounting policy" is one which is both important to the portrayal of a company's financial condition and results, and requires management's most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain.

Accordingly, this is the policy we believe is the most critical to aid in fully understanding and evaluating our financial condition and results of operations.

1. Income Taxes - The Company accounts for income taxes in accordance with accounting guidance FASB ASC 740, " Income Taxes ," which requires that the Company recognize deferred tax liabilities and assets based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities, using enacted tax rates in effect in the years the differences are expected to reverse. Deferred income tax benefit (expense) results from the change in net deferred tax assets or deferred tax liabilities. A valuation allowance is recorded when it is more likely than not that some or all deferred tax assets will not be realized. The Company has adopted the provisions of FASB ASC 740-10-05 " Accounting for Uncertainty in Income Taxes ." The ASC clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements. The ASC prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken guidance on de- recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition.

Development Stage Activities and Operations

The Company is in the development stage and has had no revenues other than the sale of its assets to Amarantus. A development stage company is defined as one in which all efforts are devoted substantially to establishing a new business and even if planned principal operations have commenced, revenues are insignificant.





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Recently Issued Accounting Pronouncements

Any recent pronouncements issued by the FASB or other authoritative standards groups with future effective dates are either not applicable or are not expected to be significant to the condensed financial statements of the Company.

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