Company: RGBP
Filing Date: 2025-09-08
Form Type: 253G1
Source: 0001641172-25-026822
Chunk: 114

Company: Regen BioPharma Inc
Filing Date: 2025-09-08
Form: 253G1
Chunk 114
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 asset
and liability method of accounting for income taxes in accordance with ASU 740, “Income Taxes”. Under this method, income
tax expense is recognized as the amount of: (i) taxes payable or refundable for the current year and (ii) future tax consequences attributable
to differences between the consolidated financial statements carrying amounts of existing assets and liabilities and their respective
tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years which
those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in the results of operations in the period that includes the enactment date. A valuation allowance is provided
to reduce the deferred tax assets reported if based on the weight of available evidence it is more likely than not that some portion or
all of the deferred tax assets will not be realized. The Company is subject to Income tax filings requirements in U.S. federal and various
state jurisdictions. The Company’s tax returns for all years are subject to U.S. federal, state, and local income tax examinations
by tax authorities. The Company reports income tax related interest and penalties within the income tax line item on the consolidated
statements of operations. The Company likewise reports the reversal of income tax-related interest and penalties within such line item
to the extent the Company resolves the liabilities for uncertain tax positions in a manner favorable to the accruals.

O. RECENT ACCOUNTING PRONOUNCEMENTS

In June 2016, the FASB issued
ASU 2016-13, Financial Instruments – Credit Losses, which requires entities to estimate all expected credit losses for financial
assets measured at amortized cost basis, including trade receivables, held at the reporting date based on historical experience, current
conditions, and reasonable and supportable forecasts. The Company adopted this guidance on January 1, 2023. The adoption of this accounting
standard did not have an impact on the Company’s consolidated financial statements as the Company is in a pre-revenue state and
does not generate revenue and has no receivables from third party.

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In November 2023, the FASB
issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires incremental disclosure
of segment information on an interim and annual basis. This ASU is effective for public entities for fiscal years beginning after December
15