Company: RGBP
Filing Date: 2025-05-28
Form Type: 10-Q
Source: 0001641172-25-012619
Chunk: 8

Company: Regen BioPharma Inc
Filing Date: 2025-05-28
Form: 10-Q
Item: Part I, Item 1
Chunk 8
---

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.

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, 2023, and interim periods within fiscal years beginning after December 15, 2024. Retrospective application
to all prior periods presented in the financial statements is required for public entities. The Company adopted ASU 2023-07 as of January
1, 2024, which resulted in additional disclosures of significant segment expenses and other segment items as well as incremental qualitative
disclosures.

Other
recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the AICPA and the SEC did not or are
not believed by management to have a material impact on the Company’s present or future consolidated financial statements.

2. ACCOUNTS RECEIVABLE

Accounts
receivable were comprised of the following:

SCHEDULE OF ACCOUNTS RECEIVABLE

                               As of                            As of                  
                                                                                       
                               March 31, 2025                   September              
                                                                30, 2024               
 ───────────────────────────────────────────────────────────────────────────────────────
  Licensee- Related Party                          149,723                     94,873  
  Total                        $                   149,723      $              94,873  

During
the quarter ended March 31, 2025 there was no

3. PREPAID EXPENSES

Prepaid
Expenses were comprised of the following:

SCHEDULE
OF PREPAID EXPENSES

                        As of                           As of  
  Prepaid Expenses      $265                          $42,762  
  Prepaid