Company: RGBP
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001641172-25-011206
Chunk: 3

Company: Regen BioPharma Inc
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
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 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 of100% has been established.

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 $0for the quarters ended December 31, 2023 and 2024

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