CREMA TRATTAMENTO PSORIASI OFFERTA -50% !

Home Uncategorized Psorilax:Ordine |creme rinfrescanti alla.menta per psoriasi

Psorilax:Ordine |creme rinfrescanti alla.menta per psoriasi

0
Psorilax:Ordine |creme rinfrescanti alla.menta per psoriasi

CREMA TRATTAMENTO PSORIASI OFFERTA -50% !

Psorilax: prezzo, funziona, recensioni, opinioni, dove si compra

Dichiarazioni previsionali




Except for historical information, the following discussion contains
forward-looking statements based upon current expectations that involve certain
risks and uncertainties. Such forward-looking statements include statements
regarding, among other things, (a) our projected sales and profitability, (b)
our growth strategies, (c) anticipated trends in our industry, (d) our future
financing plans, (e) our anticipated needs for working capital, (f) our lack of
operational experience and (g) the benefits related to ownership of our common
stock. Forward-looking statements, which involve assumptions and describe our
future plans, strategies, and expectations, are generally identifiable by use of
the words "may," "will," "should," "expect," "anticipate," "estimate,"
"believe," "intend," or "project" or the negative of these words or other
variations on these words or comparable terminology. This information may
involve known and unknown risks, uncertainties, and other factors that may cause
our actual results, performance, or achievements to be materially different from
the future results, performance, or achievements expressed or implied by any
forward-looking statements. These statements may be found under "Description of
Business," and "Analysis of Financial Condition and Results of Operations", as
well as in this Report generally. Actual events or results may differ materially
from those discussed in forward-looking statements as a result of various
factors, including, without limitation, the risks outlined under "Risk Factors"
in our Annual Report on Form 10-K and in other Reports we have filed with the
Securities and Exchange Commission, as well as matters described in this Report
generally. In light of these risks and uncertainties, there can be no assurance
that the forward-looking statements contained in this Report will in fact occur
as projected.


The following discussion and analysis provides information which management
believes is relevant to an assessment and understanding of our results of
operations and financial condition. The discussion should be read along with our
financial statements and notes thereto. This section includes a number of
forward-looking statements that reflect our current views with respect to future
events and financial performance. You should not place undue certainty on these
forward-looking statements. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from our predictions.



Description of Business



Background



Wellness Center USA, Inc. ("WCUI" or the "Company") was incorporated in June
2010 under the laws of the State of Nevada. We initially engaged in online
sports and nutrition supplements marketing and distribution. We subsequently
expanded into additional businesses within the healthcare and medical sectors
through acquisitions, including Psoria-Shield Inc. ("PSI") and StealthCo Inc.
("SCI"), d/b/a Stealth Mark, Inc.



The Company currently operates in two business segments: (i) distribution of
targeted Ultra Violet ("UV") phototherapy devices for dermatology; and (ii)
authentication and encryption products and services. The segments are conducted
through our wholly-owned subsidiaries, PSI and SCI.



PSI



PSI was incorporated under the laws of the state of Florida on June 17, 2009. We
acquired all of the issued and outstanding shares of stock in PSI on August
24,
2012.



Joint Ventures



We conducted PSI operations through Psoria Development Company LLC, an Illinois
limited liability company ("PDC"), from January 15, 2015 through October, 2018.
PDC was a joint venture between WCUI/PSI and The Medical Alliance, Inc., a
Florida corporation ("TMA"). On November 15, 2018, PSI and TMA terminated the
PDC joint venture. On the termination date, the non-controlling interest's share
of the accumulated losses of the joint venture totaled $405,383. During the year
ended September 30, 2019, the Company wrote-off the non-controlling interest's
share of the accumulated losses and recorded a loss from deconsolidation of
non-controlling interest of $405,383.



19






In December 2018, the Company and PSI entered into a Joint Venture Agreement
with PSI GEN2 Funding, Inc., an Illinois corporation ("GEN2"), to further
develop, market, license and/or sell PSI technology and products. The Joint
Venture Agreement provides for the venture to be conducted through NEO
Phototherapy, LLC, an Illinois limited liability company ("NEO"), with PSI and
GEN2 to hold membership Units representing 50.5% and 36.0% ownership,
respectively. It provides for an additional 13.5% of such Units to be reserved
for issuance as incentive awards to key employees and consultants. PSI and GEN2
are to jointly manage NEO's day-to-day operations.



According to the Joint Venture Agreement, PSI would contribute PSI technology to
NEO in consideration for its Units and GEN2 would contribute $700,000 for its
Units. Once NEO has realized and retained cumulative net income/distributable
cash in the amount of $300,000, the next $700,000 of realized and retained
cumulative net income/distributable cash would be distributed to GEN2.
Distributions thereafter would be made to PSI, GEN2 and other members, if any,
in proportion to their respective Unit ownership, at the times and in the manner
determined from time to time by the managers, in their sole discretion.



As of March 31, 2020, NEO's operations required funding in excess of the
$700,000 initially anticipated by the joint venture. As of that date, GEN2 had
contributed $975,000 to NEO, for which GEN2 received Units representing a
cumulative total of 39.0% ownership of NEO. Additional Units representing a 10%
ownership interest in NEO were awarded to one individual as a key staff
incentive from the reserve initially established for such awards, with no
further awards currently anticipated. As a result, once NEO has realized and
retained cumulative net income/distributable cash in the amount of $300,000, the
next $975,000 of realized and retained cumulative net income/distributable cash
would be distributed to GEN2. Distributions thereafter would be made to PSI,
GEN2 and the other member, in proportion to their respective Unit ownership, at
the times and in the manner determined from time to time by the managers, in
their sole discretion.


GEN2 contributions to NEO were derived from its shareholders, which consist of
accredited investors, and which include several WCUI officers and directors,
including Calvin R. O'Harrow, Roy M. Harsch, William E. Kingsford, Douglas
Samuelson, Paul D. Jones and Thomas E. Scott. GEN2 shareholders, including said
officers and directors of WCUI, will share any realized and retained cumulative
net income/distributable cash that may be distributed to GEN2.



As of September 30, 2019, the Company interest was adjusted to 51% of the joint
venture, GEN2 controlled 39% and another individual controlled the remaining
10%. As of March 31, 2020, the Company recorded its proportionate share of
$497,250 to additional paid-in-capital and $477,750 to non-controlling interest
as of that date. During the three and six months ended March 31, 2020, NEO
recorded a loss of $45,000 and $90,162, respectively, relating to its
operations.



Psoria-Light


PSI progetta, sviluppa e commercializza una fototerapia ultravioletta mirata (“UV”)
dispositivo chiamato Psoria-Light. Psoria-Light è progettato per l'uso in
fotochimica PUVA mirata e fototerapia UVB ed è progettato per il trattamento
alcune condizioni della pelle tra cui psoriasi, vitiligine, dermatite atopica
(eczema), dermatite seborroica e leucoderma.




Psoriasis, eczema, and vitiligo, are common skin conditions that can be
challenging to treat, and often cause the client significant psychosocial
stress. Clients may undergo a variety of treatments to address these skin
conditions, including routine consumption of systemic and biologic drug
therapies which are highly toxic, reduce systemic immune system function, and
come with a host of chemotherapy-like side effects. Ultraviolet (UV)
phototherapy is a clinically validated alternate treatment modality for these
disorders.



Traditionally, "non-targeted" UV phototherapy was administered by lamps that
emitted either UVA or UVB light to both diseased and healthy skin. While
sunblocks or other UV barriers may be used to protect healthy skin, the UV
administered in this manner must be low dosage to avoid excessive exposure of
healthy tissue. Today, "targeted" UV phototherapy devices administer much higher
dosages of light only to affected tissue, resulting in "clearance" in the case
of psoriasis and eczema, and "repigmentation" in the case of vitiligo, at much
faster rates than non-targeted (low dosage) UV treatments.



Targeted UV treatments are typically administered to smaller total body surface
areas, and are therefore used to treat the most intense parts of a client's
disease. Non-targeted UV treatment is typically used as a follow-up and for
maintenance, capable of treating large surfaces of the body. Excimer laser
devices (UVB at 308nm) are expensive and consume dangerous chemicals (Xenon and
Chlorine). Mercury lamp devices (UVB and/or UVA) require expensive lamp
replacements regularly and require special disposal (due to mercury content).
Additionally, mercury lamp devices typically deliver wavelengths of light below
300nm. While within the UVB spectrum, it has been shown that wavelengths below
300nm produce significantly more "sunburn" type side effects than do wavelengths
between 300 and 320nm without improvement in therapeutic benefit.



20






The Psoria-Light is a targeted UV phototherapy device that produces UVB light
between 300 and 320 nm as well as UVA light between 350 and 395nm. It does not
require consumption of dangerous chemicals or require special environmental
disposal, and is cost effective for clinicians, which should result in increased
patient access to this type of treatment. It has several unique and advanced
features that we believe will distinguish it from the non-targeted and targeted
UV phototherapy devices that are currently being used by dermatologists and
other healthcare providers. These features include the following: the
utilization of deep narrow-band UVB ("NB-UVB") LEDs as light sources; the
ability to produce both UVA or NB-UVB therapeutic wavelengths; an integrated
high resolution digital camera and client record integration capabilities; the
ability to export to an external USB memory device a PDF file of treatment
information including a patent pending graph that includes digital images
plotted against user tracked metrics which can be submitted to improve medical
reimbursements; an accessory port and ability to update software; ease of
placement and portability; advanced treatment site detection safety sensor;
international language support; a warranty which includes the UV lamp(s); and a
non-changeable treatment log (that does not include HIPPA information).



The Psoria-Light consists of three components: a base console, a color display
with touchscreen control, and a hand-held delivery device with a conduit (or
tether) between the handheld device and the base console. PSI requires clearance
by the United States Food and Drug Administration ("FDA") to market and sell the
device in the United States as well as permission from TUV SUD America Inc.,
PSI's Notified Body, to affix the CE mark to the Psoria-Light in order to market
and sell the device in countries of the European Union.



To obtain FDA clearance and permission to affix the CE mark, PSI was required to
conduct EMC and electrical safety testing, which it completed in the second
quarter of 2011. PSI received FDA clearance on February 11, 2011 (no. K103540)
and was granted permission to affix the CE mark on November 10, 2011. In its
510(k) application with the FDA (application number K103540), PSI asserted that
the Psoria-Light was "substantially equivalent" in intended use and technology
to two predicate devices, the X -Trac Excimer Laser, which has wide acceptance
in the medical billing literature and has a large installed base in the U.S.,
and the Dualight, another competing targeted UV phototherapy device.



PSI has established an ISO 13485 compliant quality system for the Psoria-Light,
which was first audited in the third quarter of 2011. This system is intended to
ensure PSI devices will be manufactured in a controlled and reliable environment
and that its resources follow similar practices and is required for sales in
countries requiring a CE mark. PSI has also received Certified Space Technology
designation from the Space Foundation, based on PSI's incorporation of
established NASA-funded LED technology.



PSI began Psoria-Light Beta deployment in January 2012. It is currently
operating at a loss, and there is no assurance that its business development
plans and strategies will ever be successful. PSI's success depends upon the
acceptance by healthcare providers and clients of Psoria-Light treatment as a
preferred method of treatment for psoriasis and other UV-treatable skin
conditions. Psoria-Light treatment appears to have been beneficial to clients,
without demonstrable harmful side effects or safety issues, as evidenced by more
than 10,000 treatments completed on more than 1,000 clients, domestically and
Mexico, since 2012. In order for the Company to continue PSI operations, it will
need additional capital and it will have to successfully coordinate integration
of PSI operations without materially and adversely affecting continuation and
development of other Company operations.



SCI



SCI was incorporated under the laws of the state of Illinois on March 18, 2014.
SCI acquired certain Stealth Mark assets on April 4, 2014 and operates as a
wholly-owned subsidiary of the Company. It is a provider of: a) Stealth Mark
encryption and authentication solutions offering advanced technologies within
the security and supply chain management vertical sectors (Intelligent
Microparticles), and b) advanced data intelligence services offering
proprietary, unprecedented, and actionable technology for industries, companies,
and agencies on a global scale (ActiveDuty™).



Intelligent Microparticles


SCI provides clients premiere authentication technology for the protection of a
variety of products and brands from illicit counterfeiting and diversion
activities. Its technology is applicable to a wide range of industries affected
by counterfeiting, diversion and theft including, but not limited to,
pharmaceuticals, defense/aerospace, automotive, electronics, technology,
consumer and personal care goods, designer products, beverage/spirits, and
many
others.



21






SCI delivers the client a complete, simple to use, easy to implement, and cost
effective turnkey system that is extremely difficult to compromise. SCI's
technology includes a combination of proprietary software and intelligent
microparticle marks that are unduplicatable and undetectable to the human eye.
These taggants are created with proprietary materials that create unique
numerical codes that are assigned meaning by the client and are machine readable
without the use of rare earth or chemical tracers. They have been used in covert
and overt operations with easy to implement technology and do-it-yourself
in-the-field forensic caliber verification.



In April 2018, the Company's subsidiary, SCI, concluded licensing of a patent
for technology that is the next generation of Stealth Mark. Working with
researchers at the Oak Ridge National Labs, the patent signifies development of
a new technology that will generate an invisible marking system with attributes
currently unavailable in the anti-counterfeit marketplace today. The formula and
techniques have been shown through extensive testing to be resilient to
manufacturing processes and can be used on a wide range of materials from woven
and non-woven fabrics, cardboard, metal, concrete, plastics, leather, wood, and
paper. In addition, the complexity of the information that can be encoded with
the system makes counterfeiting difficult.



ActiveDuty™


SCI's ActiveDuty™ data intelligence services offer unique, unprecedented,
actionable technology for industries, companies, and agencies on a global scale.
Comprised of a suite of powerful analytical tools, including artificial
intelligence and social-psychology, the service provides timely and actionable
intelligence to clients. ActiveDuty™ is adaptable to a broad spectrum of illicit
activities within both private and public sectors such as, but not limited to,
counterfeiting, sex and human trafficking, money laundering, and a variety
of
other markets.


The proprietary algorithmic architecture of ActiveDuty™ creates the first
systemic reporting mechanism to deliver strategic and tactical results supported
by an intense worldwide analysis of patterns of human behavior. The ActiveDuty™
global framework is heuristic in nature, capable of comprehending big data
across the digital spectrum and speaks all the major languages. Up until now,
there has not existed a unified system that could actively measure this
lifecycle that is a collection of discreet and seemingly random behaviors of
criminals anywhere within the digital domain. Criminals change their identities
but not their basic behaviors.



SCI was managed initially by Ricky Howard, who brought over thirty years of
experience in operations management and executive positions in a variety of
industries ranging from entrepreneurial startups to Fortune 500 companies. He
played an integral role in bringing the company's capabilities to its present
status including design and creation of its manufacturing capabilities,
implementation of its ERP inventory controls system, software and hardware
development, marketing and sales materials processes and day-to-day operational
procedures and processes. In November 2018, Mr. Howard passed away suddenly and
Mr. O'Harrow took over operations of SCI's business on an interim basis.



Proposed Share Exchange



On September 3, 2019, our Board unanimously approved, subject to stockholder
approval, the execution and delivery of a proposed Share Exchange Agreement
relating to the share exchange and transfer of certain assets of SCI to DTI
Holdings, Inc. ("DTI") pursuant to the terms and conditions of a Memorandum of
Agreement providing, among other things, as follows:



? DTI will pay the Company $500,000 upon execution of a definitive share
exchange agreement ("Share Exchange Agreement") which the parties will endeavor
to negotiate and execute as quickly as possible, and not later than October 15,
2019.

? DTI will pay the Company an additional $500,000 within seven days following
the completion date of the transfer of all assets and/or full ownership of SCI
to DTI, with such date to occur within 120 days following execution of the Share
Exchange Agreement.

? DTI will issue to the Company 3,112,000 shares of DTI common stock and will
guaranty that the value of the 3,112,000 shares of DTI common stock will have a
value of at least $4.50 per share ($14,004,000, in the aggregate), as of
December 31, 2021.

? To the extent that the value of the DTI common shares, as of December 31,
2021, is less than $4.50 per share ($14,004,000, in the aggregate), DTI will
issue additional shares of DTI common stock, at the then current fair market
value, in an amount sufficient to cause the resulting aggregate value of all
shares of DTI common stock issued to the Company to be $14,004,000, in the
aggregate.

? DTI assegnerà le attività trasferite da SCI, inclusi i marchi,
proprietà intellettuali e brevetti, alla sua controllata, Femtobitz, Inc., a
Delaware società e pagherà alla Società l'1% delle entrate lorde annuali
derivanti o relativi al funzionamento di Femtobitz, Inc.

? Alla chiusura della borsa, verrà nominato il Presidente della Società
un membro del comitato consultivo di DTI e un membro del consiglio di amministrazione di Femtobitz, Inc.



22





The 3,112,000 shares of DTI common stock to be issued to us in exchange for all
of our shares of SCI common stock will represent a minority of the issued and
outstanding shares of DTI common stock as of the date of issuance. The DTI
shares will be issued in reliance upon the exemption from registration
requirements under the Securities Act of 1933, as amended (the "Securities
Act"), pursuant to Section 4(2) thereof and Regulation D thereunder. As such,
such shares may not be offered or sold by us unless they are registered under
the Securities Act or qualify for an exemption from the registration
requirements under the Securities Act.



As of September 18, 2019, stockholders holding a majority of our outstanding
common stock approved the share exchange and the Company began discussions and
negotiations with DTI, which are currently on-going as of the date of this
filing. There can be no assurance that the proposed transaction will be
concluded successfully on the terms described or any alternate terms that may be
proposed hereafter.


Analisi delle condizioni finanziarie e risultati delle operazioni

I risultati delle operazioni per i tre mesi si sono conclusi 31 marzo 2020 rispetto al
sono finiti tre mesi 31 marzo 2019.

Entrate e costi delle merci vendute




Revenue for the three months ended March 31, 2020 and 2019 was $5,000 and
$12,875, respectively. The decrease in revenue in 2020 primarily related to the
decrease in revenues at SCI, as there was no revenue at PSI for each period.
Cost of sales for the three months ended March 31, 2019 was $7,725. There was no
cost of sales for the three months ended March 31, 2020. Gross profit for the
three months ended March 31, 2020 and 2019 was $5,000 and $5,150, respectively.



Operating Expenses


Operating expenses for the three months ended March 31, 2020 and 2019 were
$423,130 and $535,593, respectively. The decrease in operating expenses in 2020
was due primarily to the decrease in consulting fees, employee-related costs and
stock compensation.



Other Expenses



Other expenses during the three months ended March 31, 2020 consisted of
$507,265 relating to the cost of the modification of terms of stock warrants and
$16,211 of interest expense, totaling to $523,476. Other expenses during the
three months ended March 31, 2019 consisted of $21,389 of amortization of debt
discount, $22,000 of financing costs and $6,878 of interest expense, totaling to
$50,267.



Net Loss



Our net loss for the three months ended March 31, 2020 was $941,606, compared to
a net loss of $580,710 for the three months ended March 31, 2019. The increase
in the net loss of $360,896 in 2020 was primarily due to the increase in other
expenses, offset by the decrease in operating expenses.



23





I risultati delle operazioni per il semestre sono terminati 31 marzo 2020 rispetto al
sei mesi finiti 31 marzo 2019.

Entrate e costi delle merci vendute




Revenue for the six months ended March 31, 2020 and 2019 was $5,000 and $25,750,
respectively. The decrease in 2020 was due to the decrease in revenues at SCI,
as there was no revenue at PSI for each period. Cost of sales for the six months
ended March 31, 2019 was $15,450. There was no cost of sales for the three
months ended March 31, 2020. Gross profit for the six months ended March 31,
2019 was $5,000 and $10,300, respectively.



Operating Expenses


Spese operative per il semestre chiuso 31 marzo 2020 e il 2019 erano
$ 760.403 e $ 1.011.457, rispettivamente. La riduzione delle spese operative in
Il 2020 è dovuto principalmente alla riduzione delle commissioni di consulenza relative ai dipendenti
costi e compensazione delle scorte.



Other Expenses



Other expenses during the six months ended March 31, 2020 consisted of $507,265
relating to the cost of the modification of terms of stock warrants and $25,534
of interest expense, totaling to $532,799. Other expenses during the six months
ended March 31, 2019 consisted of $72,078 of amortization of debt discount,
$73,434 of financing costs and $11,729 of interest expense, totaling to
$157,241.



Net Loss



Our net loss for the six months ended March 31, 2020 was $1,288,202, compared to
a net loss of $1,158,398 for the six months ended March 31, 2019. The increase
in the net loss of $129,804 in 2020 was primarily due to the increase in other
expenses, offset by the decrease in operating expenses.



Risultati delle operazioni per segmento

La Società attualmente gestisce due settori di attività:

(i) Dispositivi medici: forniti tramite PSI, la sua controllata al 100%

acquisito il 24 agosto 2012, uno sviluppatore, produttore, operatore di marketing e

distributore di dispositivi di fototerapia ultravioletta (“UV”) mirati per l '

trattamento delle malattie della pelle; e

(ii) Prodotti e servizi di autenticazione e crittografia: forniti

tramite SCI, la sua consociata interamente controllata che su 4 aprile 2014 acquisita

alcune attività di SMI Holdings, Inc. d / b / a Stealth Mark, Inc., Compreso

Stealth Mark nomi e marchi commerciali e relativa crittografia e autenticazione

     solutions offering advanced product security technologies within the
     security and supply chain management vertical sectors.



Le informazioni dettagliate sul segmento della Società per i tre e sei mesi
conclusa 31 marzo 2020 e il 2019 è il seguente:




    Operations by Segment For the Three Months Ended March 31, 2020 and 2019



                                                         For the Three Months Ended
                                                               March 31, 2020
                                                       Medical       Authentication and
                                      Corporate        Devices           Encryption           Total
Sales:
Trade                                 $        -     $         -     $            5,000     $    5,000
Consulting services                            -               -                      -              -
Total Sales                                    -               -                  5,000          5,000

Cost of goods sold                             -               -                      -              -

Gross profit                                   -               -                  5,000          5,000

Operating expenses                       142,500         206,824           

73.806 423.130

Loss from operations                  $ (142,500 )$  (206,824 )   $          (68,806 )   $ (418,130 )




                                                         For the Three Months Ended
                                                               March 31, 2019
                                                       Medical       Authentication and
                                      Corporate        Devices           Encryption           Total
Sales:
Trade                                 $        -     $         -     $            8,725     $    8,725
Consulting services                            -               -                  4,150          4,150
Total Sales                                    -               -           

12.875 12.875

Cost of goods sold                             -               -           
      7,725          7,725

Gross profit                                   -               -                  5,150          5,150
Operating expenses                       286,686         146,272           

102.635 535.593

Loss from operations                  $ (286,686 )$  (146,272 )   $     
    (97,485 )   $ (530,443 )
There was no revenue or cost of goods sold for the Medical Devices segment for
the three months ended March 31, 2020 and 2019. Operating expenses for the three
months ended March 31, 2020 and 2019 was $206,824 and $146,272, respectively.
The increase in operating expenses in 2020 was due primarily to the increase in
contract labor. The loss from operations for the three months ended March 31,
2020 and 2019 was $206,824 and $146,272, respectively.



24





Revenue for the Authentication and Encryption segment for the three months ended
March 31, 2020 and 2019 was $5,000 and $12,875. The decrease in 2020 was due to
the decrease in trade sales and consulting services. There was no cost of goods
sold for the three months ended March 31, 2020 and the gross profit was $5,000.
Cost of goods sold for the three months ended March 31, 2019 was $7,725 and the
gross profit was $5,150. The gross profit decrease in 2020 was primarily due to
the decrease in sales. Operating expenses for the three months ended March 31,
2020 and 2019 was $73,806 and $102,635, respectively. The decrease in operating
expenses in 2020 was due primarily to the decrease in stock compensation costs
and employee-related costs. The loss from operations for the three months ended
March 31, 2020 and 2019 was $68,806 and $97,485, respectively.



The Corporate segment primarily provides executive management services for the
Company. Operating expenses for the three months ended March 31, 2020 and 2019
was $142,500 and $286,686, respectively. The decrease in operating expenses in
2020 was due primarily to the decrease in professional fees and stock
compensation. The loss from operations for the three months ended March 31, 2020
and 2019 was $142,500 and $286,686, respectively.



     Operations by Segment for the Six Months Ended March 31, 2020 and 2019



                                                          For the Six Months Ended
                                                               March 31, 2020
                                                       Medical       Authentication and
                                      Corporate        Devices           Encryption           Total
Sales:
Trade                                 $        -     $         -     $            5,000     $    5,000
Consulting services                            -               -                      -              -
Total Sales                                    -               -                  5,000          5,000

Cost of goods sold                             -               -                      -              -

Gross profit                                   -               -                  5,000          5,000

Operating expenses                       240,962         382,110           

137.331 760.403

Loss from operations                  $ (240,962 )$  (382,110 )   $         (132,331 )   $ (755,403 )




                                                           For the Six Months Ended
                                                                March 31, 2019
                                                       Medical       Authentication and
                                      Corporate        Devices           Encryption            Total
Sales:
Trade                                 $        -     $         -     $           16,400     $     16,400
Consulting services                            -               -                  9,350            9,350
Total Sales                                    -               -                 25,750           25,750

Cost of goods sold                             -               -                 15,450           15,450

Gross profit                                   -               -                 10,300           10,300

Operating expenses                       541,116         265,991           

204.350 1.011.457

Loss from operations                  $ (541,116 )$  (265,991 )   $     
   (194,050 )   $ (1,001,157 )




25





There was no revenue or cost of goods sold for the Medical Devices segment for
the six months ended March 31, 2020 and 2019. Operating expenses for the six
months ended March 31, 2020 and 2019 was $382,110 and $265,991, respectively.
The increase in operating expenses in 2020 was due primarily to the increase in
contract labor. The loss from operations for the six months ended March 31, 2020
and 2019 was $382,110 and $265,991, respectively.



Revenue for the Authentication and Encryption segment for the six months ended
March 31, 2020 and 2019 was $5,000 and $25,750. The decrease in 2020 was due to
the decrease in trade sales and consulting services. There was no cost of goods
sold for the six months ended March 31, 2020 and the gross profit was $5,000.
Cost of goods sold for the six months ended March 31, 2019 was $15,450 and the
gross profit was $10,300. The gross profit decrease in 2020 was primarily due to
the decrease in sales. Operating expenses for the six months ended March 31,
2020 and 2019 was $137,331 and $204,350, respectively. The decrease in operating
expenses in 2020 was due primarily to the decrease in stock compensation costs
and employee-related costs. The loss from operations for the six months ended
March 31, 2020 and 2019 was $132,331 and $194,050, respectively.



The Corporate segment primarily provides executive management services for the
Company. Operating expenses for the six months ended March 31, 2020 and 2019 was
$240,962 and $541,116, respectively. The decrease in operating expenses in 2020
was due primarily to the decrease in professional fees and stock compensation.
The loss from operations for the six months ended March 31, 2020 and 2019 was
$240,962 and $541,116, respectively.



Liquidità e risorse di capitale




The accompanying condensed consolidated financial statements have been prepared
on a going concern basis, which contemplates the realization of assets and the
settlement of liabilities and commitments in the normal course of business. As
reflected in the accompanying condensed consolidated financial statements, the
Company has not yet generated significant revenues and has incurred recurring
net losses. During the six months ended March 31, 2020, the Company incurred a
net loss of $1,288,202 and used cash in operations of $533,001, and had a
shareholders' deficit of $1,683,393 as of March 31, 2020. These factors raise
substantial doubt about the Company's ability to continue as a going concern.
The ability of the Company to continue as a going concern is dependent upon the
Company's ability to raise additional funds and implement its strategies. The
financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern.



Inoltre, la società di contabilità pubblica indipendente della Società, nella sua
relazione sull'azienda 30 settembre 2019 rendiconti finanziari, ha sollevato
sostanziali dubbi sulla capacità della Società di continuare come una preoccupazione permanente.




At March 31, 2020, the Company had cash on hand in the amount of $40,146. The
ability to continue as a going concern is dependent on the Company attaining and
maintaining profitable operations in the future and raising additional capital
soon to meet its obligations and repay its liabilities arising from normal
business operations when they come due. Since inception, we have funded our
operations primarily through equity and debt financings and we expect to
continue to rely on these sources of capital in the future. During the six
months ended March 31, 2020, the Company received $520,000 through short-term
loans and contributions of capital by a joint venture partner. As of March 31,
2020, loans payable to officers and shareholders of $869,250 were outstanding.
All of the loans are unsecured, have an interest rate of eight percent and are
due one year from the date of issuance.



No assurance can be given that any future financing will be available or, if
available, that it will be on terms that are satisfactory to the Company. Even
if the Company is able to obtain additional financing, it may contain undue
restrictions on our operations, in the case of debt financing or cause
substantial dilution for our stock holders, in case of equity financing.



Il confronto di sei mesi è terminato 31 marzo 2020 e 2018

Come di 31 marzo 2020, abbiamo avuto $ 40.146 in contanti, capitale circolante negativo di
$ 1.700.895 e un deficit accumulato di $ 26.606.310.

Come di 31 marzo 2019, avevamo 62.170 in contanti, capitale circolante negativo di
$ 1.082.414 e un deficit accumulato di $ 24.534.119.

Flussi di cassa utilizzati nelle attività operative

During the six months ended March 31, 2020, the Company used cash flows in
operating activities of $533,001, compared to $685,290 used in the six months
ended March 31, 2019. During the six months ended March 31, 2020, the Company
incurred a net loss of $1,288,202 and $650,848 of non-cash expenses, compared to
a net loss of $1,158,398 and $383,818 of non-cash expenses during the six months
ended March 31, 2019.


Flussi di cassa utilizzati nelle attività di investimento

Durante i sei mesi finiti 31 marzo 2020 e nel 2019, la Società non aveva liquidità
proviene da attività di investimento.

Flussi di cassa forniti da attività di finanziamento




During the six months ended March 31, 2020, the Company had proceeds from loans
payable from officers and shareholders of $470,000 and proceeds of $50,000 from
contributions of capital by its joint venture partner. During the six months
ended March 31, 2019, the Company had proceeds from loans payable from officers
and shareholders of $258,250, from the sale of common stock of $10,000 and from
contributions of capital by its joint venture partner of $475,000.



26





Disposizioni fuori bilancio




We have no off-balance sheet arrangements that have or are reasonably likely to
have a current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources.



Riepilogo delle politiche contabili fondamentali.




The Company has identified critical accounting policies that, as a result of the
judgments, uncertainties, uniqueness and complexities of the underlying
accounting standards and operations involved could result in material changes to
its financial condition or results of operations under different conditions or
using different assumptions. The Company's most critical accounting policies
include, but are not limited to, those related to fair value of financial
instruments, revenue recognition, stock based compensation for obtaining
employee services, and equity instruments issued to parties other than employees
for acquiring goods or services. Details regarding the Company's use of these
policies and the related estimates are described in the Company's Annual Report
on Form 10-K for the fiscal year ended September 30, 2019, filed with the
Securities and Exchange Commission on January 28, 2020. There have been no
material changes to the Company's critical accounting policies that impact the
Company's financial condition, results of operations or cash flows for the
six
months ended March 31, 2020.


Dichiarazioni contabili emesse di recente

Vedi la discussione della direzione sui recenti principi contabili inclusi nella nota 2
al bilancio consolidato abbreviato.

© Edgar Online, fonte scorci

CREMA TRATTAMENTO PSORIASI OFFERTA -50% !