BIOXYTRAN, INC. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>BIOXYTRAN, INC. filed its Q1 2024 10-Q report, detailing financial information and corporate history.</b>

AI Summary

BIOXYTRAN, INC (BIXT) filed a Quarterly Report (10-Q) with the SEC on April 19, 2024. BIOXYTRAN, INC. filed a 10-Q report for the period ending March 31, 2024. The company was formerly known as U.S. RARE EARTH MINERALS, INC. and U.S. Natural Nutrients & Minerals, Inc. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. BIOXYTRAN, INC. is incorporated in Nevada.

Why It Matters

For investors and stakeholders tracking BIOXYTRAN, INC, this filing contains several important signals. This filing provides investors with the latest quarterly financial performance and operational updates for BIOXYTRAN, INC. Understanding the company's historical name changes can provide context for its business evolution and strategic shifts.

Risk Assessment

Risk Level: low — BIOXYTRAN, INC shows low risk based on this filing. The filing is a standard 10-Q report with no immediate red flags, indicating a routine disclosure.

Analyst Insight

Monitor future filings for revenue, net income, and debt levels to assess financial health and growth trajectory.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing)
• 2024-04-19 — Filing Date (10-Q submission)
• 2023-12-31 — Previous Fiscal Year End (Balance sheet comparison)
• 2023-03-31 — Prior Year Q1 End (Year-over-year comparison)

Key Players & Entities

• BIOXYTRAN, INC. (company) — Filer name
• U.S. RARE EARTH MINERALS, INC. (company) — Former company name
• U.S. Natural Nutrients & Minerals, Inc. (company) — Former company name
• 2024-03-31 (date) — Period of report
• 2024-04-19 (date) — Filing date
• NV (jurisdiction) — State of incorporation
• 1231 (date) — Fiscal year end

FAQ

Industry Context

BIOXYTRAN, INC. operates in the Pharmaceutical Preparations industry (SIC code 2834). This sector involves the manufacturing of drugs and medicines.

Regulatory Implications

As a publicly traded company, BIOXYTRAN, INC. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to ensure transparency and provide timely financial information to investors.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze historical financial trends and compare Q1 2024 results to previous periods.
3. Research the company's current business operations and strategic initiatives.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-19: Filing Date — Date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a comprehensive overview of a company's financial performance during the quarter.)

Year-Over-Year Comparison

This is the first 10-Q filing for BIOXYTRAN, INC. in 2024, covering the period ending March 31, 2024. It follows the 10-K filed for the fiscal year ending December 31, 2023.

Key Financial Figures

• $0 — le at the lower of (i) a fixed price of $0.13, or (ii) if the market price at the
• $0.13 — and are convertible at a fixed price of $0.13 The 14,410,000 ( 49 % ) shares of Co

Filing Documents

• form10-q.htm (10-Q) — 854KB
• ex10-83.htm (EX-10.83) — 50KB
• ex31-1.htm (EX-31.1) — 22KB
• ex32-1.htm (EX-32.1) — 11KB
• 0001493152-24-015358.txt (&nbsp;) — 5431KB
• bixt-20240331.xsd (EX-101.SCH) — 49KB
• bixt-20240331_cal.xml (EX-101.CAL) — 42KB
• bixt-20240331_def.xml (EX-101.DEF) — 249KB
• bixt-20240331_lab.xml (EX-101.LAB) — 361KB
• bixt-20240331_pre.xml (EX-101.PRE) — 322KB
• form10-q_htm.xml (XML) — 751KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements 1 Balance Sheets as of March 31, 2024 and December 31, 2023 (Unaudited) 1 2 3 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

SIGNATURES

SIGNATURES 25 Except as otherwise required by the context, all references in this report to "we", "us", "our" or "Company" refer to the consolidated operations of BIOXYTRAN, Inc. PART I - FINANCIAL INFORMATION Item 1. Unaudited Condensed Consolidated Financial Statements: BIOXYTRAN, Inc., March 31, 2024 BIOXYTRAN, INC. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2024 AND DECEMBER 31, 2023 (UNAUDITED) March 31, 2024 December 31, 2023 ASSETS Current assets Cash $ 10,024 $ 26,086 Total current assets 10,024 26,086 Intangibles, net 115,516 111,552 Total assets $ 125,540 $ 137,638 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued expenses $ 97,591 $ 296,312 Accounts payable affiliate 1,457 2,000 Un-issued shares liability 14,246 510,284 Un-issued shares liability affiliate 30,000 515,904 Un-issued shares liability 30,000 515,904 Short term loan 38,000 — Short term loan affiliate 73,107 25,000 Short term loan 73,107 25,000 Convertible notes payable, net of premium and discount 861,500 1,900,000 Total current liabilities 1,115,901 3,249,500 Total liabilities 1,115,901 3,249,500 Commitments and contingencies — — Stockholders' deficit Preferred stock, $ 0.001 par value; 50,000,000 shares authorized, nil issued and outstanding — — Common stock, $ 0.001 par value; 300,000,000 shares authorized; 173,032,028 and 145,642,333 issued and outstanding as at March 31, 2024 and December 31, 2023, respectively 173,032 145,642 Additional paid-in capital 15,828,748 12,920,984 Non-controlling interest ( 694,210 ) ( 680,886 ) Accumulated deficit ( 16,297,931 ) ( 15,497,602 ) Total stockholders' deficit ( 990,361 ) ( 3,111,862 ) Total liabilities and stockholders' deficit $ 125,540 $ 137,638 See the accompanying notes to these unaudited condensed consolidated financial statements 1 BIOXYTRAN, INC. CONDENSED CONSOLI

Business

Business Operations Bioxytran, Inc. (the "Company") is a clinical stage pharmaceutical company focused on the development, manufacture and commercialization of therapeutic drugs designed to address hypoxia in humans, which is a lack of oxygen to tissues, in a safe and efficient manner. Our Subsidiary, Pharmalectin, Inc. (the "Subsidiary") is a clinical stage pharmaceutical company focused on the development, manufacture and commercialization of therapeutic drugs designed to address conditions related to viral diseases. Our Foreign Subsidiary, Pharmalectin (BVI), Inc. (the "Foreign Subsidiary") is the owner and custodian of the Company's Copyrights, Trademarks and Patents. Our subsidiary, Pharmalectin India Pvt Ltd. ("Pharmalectin India") is managing the Company's local clinical research and trials, and holds the local rights to commercialization. Organization Bioxytran, Inc. was organized on October 5, 2017 as a Delaware corporation, with a taxing structure for U.S. federal and state income tax as a C-Corporation with 95,000,000 authorized shares of Common Stock with a par value of $ 0.0001 , and 5,000,000 shares of Preferred Stock with a par value of $ 0.0001 . On September 21, 2018, the Company underwent a reorganization in the form of a reverse merger and is currently registered as a Nevada corporation with a taxing structure for U.S. federal and state income tax as a C-Corporation with 300,000,000 authorized Common shares with a par value of $ 0.001 , and 50,000,000 Preferred shares with a par value of $ 0.001 . As at March 31, 2024 there are 173,032,028 shares of Common Stock issued and outstanding; 94,083,520 shares ( 54.4 % ) are beneficially held by insiders, or their affiliates; a non-affiliated shareholder beneficially owns 14,027,606 shares ( 8.1 % ) Pharmalectin was organized on October 5, 2017, as a Delaware corporation, with a taxing structure for U.S. federal and state income tax as a C-Corporation with 95,000,000 authorized shares of Co

View Full Filing

View this 10-Q filing on SEC EDGAR