Company: RGBP
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012619
Chunk: 5

Company: Regen BioPharma Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 5
---
 on deferred taxes of a change in tax rates is recognized as income or
loss in the period that includes the enactment date.

The
Company applied the provisions of ASC 740-10-50, “ Accounting For Uncertainty In Income Taxes”, which provides clarification
related to the process associated with accounting for uncertain tax positions recognized in our financial statements. Audit periods remain
open for review until the statute of limitations has passed. The completion of review or the expiration of the statute of limitations
for a given audit period could result in an adjustment to the Company’s liability for income taxes. Any such adjustment could be
material to the Company’s results of operations for any given quarterly or annual period based, in part, upon the results of operations
for the given period. As of September 30, 2024 the Company had no uncertain tax positions, and will continue to evaluate for uncertain
positions in the future.

The
Company generated a deferred tax credit through net operating loss carry forward. However, a valuation allowance of 100

Interest
and penalties on tax deficiencies recognized in accordance with ACS accounting standards are classified as income taxes in accordance
with ASC Topic 740-10-50-19.

G. BASIC EARNINGS (LOSS) PER SHARE

The
Financial Accounting Standards Board (FASB) issued Accounting Standards Codification (ASC) 260, “ Earnings Per Share”, which
specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common
stock. ASC 260 requires the presentation of basic earnings (loss) per share and diluted earnings (loss) per share. The Company has adopted
the provisions of ASC 260 effective from inception.

Basic
net loss per share amounts is computed by dividing the net income by the weighted average number of common shares outstanding.

H. ADVERTISING

Costs
associated with advertising are charged to expense as incurred. Advertising expenses were $ 0 0

I. REVENUE RECOGNITION

The
Company determines the amount and timing of royalty revenue based on its contractual agreements with intellectual property licensees.
The Company recognizes royalty revenue when earned under the terms of the agreements and when the Company considers realization of payment
to be probable. Where royalties are based on a percentage of licensee sales of royalty-bearing products, the Company recognizes royalty
revenue by applying this percentage to the Company’s estimate of applicable licensee sales. The Company bases this estimate on
an analysis of each licensee’s sales results. Where warranted,