What changed in this filing

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Item 1A. Risk Factors

2023-04-04 compared with 2022-03-21 · 497 added, 484 removed, 22 unchanged (98% of the section changed)

Risk Factors.

Investing in our securities

includes a high degree of risk.

Prior to making a decision about investing in our securities, you should consider carefully the specific

factors discussed below, together with all of the other information contained in this report.

Our business, financial condition, results

of operations and prospects could be materially and adversely affected by these risks.

Risks Related to Our Business

We have incurred losses and may never achieve

profitability.

We have an accumulated deficit

of $32,655,174 as of December 31, 2021.

We incurred a net loss of $12,436,447 for the year ended December 31, 2021 and a net loss of $2,784,091

for the year ended December 31, 2020.

We may never generate significant revenues or achieve profitability.

We may not receive required regulatory approval

for any of our pharmaceutical product candidates.

We have not received approval

for any of our proprietary drug development operations product candidates from the FDA.

Any compounds that we discover or in-license will

require extensive and costly development, preclinical testing and/or clinical trials prior to seeking regulatory approval for commercial

Our most advanced product candidate, Adva-27a, and our potential Covid-19 treatments in development, may never be approved for

commercial sale.

We have not made any filings to date with the FDA or other regulatory bodies in other jurisdictions.

The time required

to attain product sales and profitability is lengthy and highly uncertain.

As a result, we expect to

continue to incur significant and increasing operating losses for the foreseeable future.

Because of the numerous risks and uncertainties

associated with our research and product development efforts, we are unable to predict the extent of any future losses or when we will

become profitable, if ever.

If we fail to obtain required regulatory approvals for our pharmaceutical product candidates, we may

be unable to generate significant revenues and our business will be materially harmed.

As we have no approved pharmaceutical products

on the market, we do not expect to generate significant revenues from pharmaceutical product sales in the foreseeable future, if at all.

To date, we have no approved

pharmaceutical products on the market and have generated limited product revenues, solely from our nutritional supplement operations.

We have funded our operations primarily from sales of our securities.

We have not received, and do not expect to receive for at least

the next one to two years, if at all, any revenues from the commercialization of our pharmaceutical product candidates.

To obtain revenues

from sales of our pharmaceutical product candidates, we must succeed, either alone or with third parties, in developing, obtaining regulatory

approval for, manufacturing, marketing and distributing drugs with commercial potential.

We may never succeed in these activities, and

we may not generate sufficient revenues to continue our business operations or achieve profitability.

We will require additional funding to satisfy

our future capital needs, which may not be available.

We may require significant

additional funding in large part due to our research and development expenses, future preclinical and clinical testing costs, and the

absence of significant revenues in the near future.

We do not know whether additional financing will be available to us on favorable terms

If we cannot raise additional funds, we may be required to reduce our capital expenditures, scale back product development

programs, reduce our workforce and license to others products or technologies that we may otherwise be able to commercialize.

We are currently

unable to project when or whether our operations will generate positive cash flows from operations.

Any additional equity securities

we issue or issuances of debt we may enter into or undertake may have rights, preferences or privileges senior to those of existing holders

of common stock.

To the extent that we raise additional funds through collaboration and licensing arrangements, we may be required to

relinquish some rights to our technologies or product candidates, or grant licenses on terms that are not favorable to us.

The FDA may change its approval policies

or requirements, or apply interpretations to its policies or requirements, in a manner that could delay or prevent commercialization of

Adva-27a or our potential Covid-19 treatment in development.

Regulatory requirements may

change in a manner that requires us to conduct additional clinical trials, which may delay or prevent commercialization of our Adva-27a

and potential Covid-19 treatment in development.

We cannot provide any assurance that the FDA will not require us to repeat existing studies

or conduct new or unforeseen experiments in order to demonstrate the safety and efficacy of any product candidate before considering the

approval of such product candidate.

The product candidate we are developing

for the treatment of Covid-19 may not be granted an emergency use authorization by the FDA.

If we do not receive such authorization, or

if, once granted, it is terminated, we will be required to pursue the drug approval process, which is lengthy and expensive.

Subject to completing and

receiving favorable results for clinical trials, we intend to seek emergency use authorization, or EUA, for a potential Covid-19 treatment,

which would allow us to market and sell such product candidate without the need to pursue the lengthy and expensive drug approval process.

The FDA may issue an EUA during a public health emergency if it determines that the potential benefits of a product outweigh the potential

risks and if other regulatory criteria are met.

In addition, the FDA may revoke an EUA where it is determined that the underlying health

emergency no longer exists or warrants such authorization.

We may not receive EUA for any Covid-19 treatment product candidate.

even if do we receive EUA for any product candidate, we cannot predict how long such EUA will remain in place.

If we fail to receive an

EUA for any Covid-19 product candidate, or such EUA is granted but subsequently terminated, our business, financial condition and results

of operations could be adversely affected.

Our business would be materially harmed

if we fail to obtain FDA approval for our pharmaceutical product candidates.

We anticipate that our ability

to generate significant product revenues from our drug development business will depend on the successful development and commercialization

of Adva-27a or our potential Covid-19 treatment in development.

The FDA may not approve in a timely manner, or at all, any of our drug

If we are unable to submit a new drug application, or NDA for our product candidates, we will be unable to commercialize such

products and our business will be materially harmed.

The FDA can and does reject NDAs, and often requires additional clinical trials,

even when product candidates performed well or achieved favorable results in large-scale Phase III clinical trials.

The FDA imposes substantial

requirements on the introduction of pharmaceutical products through lengthy and detailed laboratory and clinical testing procedures, sampling

activities and other costly and time-consuming procedures.

Satisfaction of these requirements typically takes several years and may vary

substantially based upon the type and complexity of the pharmaceutical product.

Our product candidates are novel compounds or new chemical

entities, which may further increase the time required for satisfactory testing procedures.

Data obtained from preclinical

and clinical activities are susceptible to varying interpretations, which could delay, limit or prevent regulatory approval.

delays or rejections may be encountered based on changes in, or additions to, regulatory policies for drug approval during product development

and regulatory review.

Government regulation may delay or prevent the commencement of clinical trials or marketing of our product candidates,

impose costly procedures upon our activities and provide an advantage to our competitors with greater financial resources or more experience

in regulatory affairs.

The FDA may not approve our product candidates for clinical trials or marketing on a timely basis or at all.

or failed approvals would adversely affect the marketing of our product candidates and our liquidity and capital resources.

Drug products and their manufacturers

are subject to continual regulatory review after the product receives FDA approval.

Later discovery of previously unknown problems

with a product or manufacturer may result in additional clinical testing requirements or restrictions on such product or manufacturer,

including withdrawal of the product from the market.

Failure to comply with applicable regulatory requirements can, among other things,

result in fines, injunctions and civil penalties, suspensions or withdrawals of regulatory approvals, product recalls, operating restrictions

or shutdown and criminal prosecution.

We may lack sufficient resources and expertise to address these and other regulatory issues as they

We may be sued or become a party to litigation,

which could require significant management time and attention and result in significant legal expenses and may result in an unfavorable

outcome which could have a material adverse effect on our business, financial condition, results of operations and cash flows.

We may be forced to incur

costs and expenses in connection with defending ourselves with respect to litigation and the payment of any settlement or judgment in

connection therewith if there is an unfavorable outcome.

in our securities includes a high degree of risk.

Prior to making a decision about investing in our securities, you should consider carefully

the specific factors discussed below, together with all of the other information contained in this report.

Our business, financial condition,

results of operations and prospects could be materially and adversely affected by these risks.

Related to Our Business

have incurred losses and may never achieve profitability.

have an accumulated deficit of $59,399,614 as of December 31, 2022.

We incurred a net loss of $26,744,440 for the year ended December

31, 2022, and a net loss of $12,436,447 for the year ended December 31, 2021.

We may never achieve profitability.

are subject to the significant risks associated with the generic pharmaceutical business.

our acquisition of Nora in October 2022, we have generated revenues primarily through sales of generic pharmaceutical products in Canada,

and we expect this to remain the case for the foreseeable future.

Generic pharmaceuticals are, as a general matter, significantly less

profitable than innovative medicines,

recent years, the generic pharmaceutical business has experienced increased volatility in volumes due in large part to global supply

chain issues and the COVID-19 pandemic.

In 2022, the global economy was continuing to recover from the impacts of

the COVID-19 pandemic and also began experiencing additional macroeconomic pressures such as rising inflation and

disruptions to the global supply chain, in part resulting from the ongoing conflict between Russia and Ukraine.

We may experience

supply discontinuities due to macroeconomic issues, regulatory actions, including sanctions and trade restrictions, labor

disturbances and approval delays, which may impact our ability to timely meet demand in certain instances.

These adverse market

forces have a direct impact on our overall performance.

Any such disruptions could have a material adverse impact on our business

and our results of operation and financial condition.

of our generic products may be adversely affected by the drug regulatory environment

we sell our generic drugs only in Canada.

Our net sales may be affected

by fluctuations in the buying patterns of our customers resulting from government lead pricing pressures and other factors.

sales in Canada are done via retail pharmacies, pharmacy channels, distributors, and wholesalers.

Pricing pressures in Canada represent

the highest risk due to ongoing and unresolved negotiations between the pharmaceutical industry and the federal government.

These together

with the fact that a significant portion of our revenues is derived from relatively few key customers, any financial difficulties experienced

by a single key customer, or any delay in receiving payments from such a customer, could have a material adverse effect on our business,

financial condition, and results of operations.

revenues and profits from generic products may decline as a result of competition from other pharmaceutical companies and changes in

regulatory policy.

generic drugs face intense competition.

Prices of generic drugs may, and often do, decline, sometimes dramatically, especially as additional

generic pharmaceutical companies receive approvals and enter the market for a given product and competition intensifies.

Consequently,

our ability to sustain our sales and profitability on any given product over time is affected by the number of companies selling such

product, including new market entrants, and the timing of their approvals.

brand pharmaceutical companies continue to manage products in a challenging environment through marketing agreements with payers, pharmacy

benefits managers and generic manufacturers.

For example, brand companies often sell or license their own generic versions of their products,

either directly or through other generic pharmaceutical companies (so-called “authorized generics”).

No significant

regulatory approvals are required for authorized generics, and brand companies do not face any other significant barriers to entry into

Brand companies may seek to delay introductions of generic equivalents through a variety of commercial and regulatory tactics.

These actions may increase the costs and risks of our efforts to introduce generic products and may delay or prevent such introduction

may experience delays in launches of our new generic products.

we cannot execute timely launches of new products, we may not be able to offset the increasing price erosion on existing products resulting

from pricing pressures and accelerated generics approvals for competing products.

Such unsuccessful launches can be caused by many factors,

including, delays in regulatory approvals, lack of operational or clinical readiness or patent litigation.

Failure or delays to execute

launches of new generic products could have a material adverse effect on our business, financial condition, and results of operations.

may not receive required regulatory approval for any of our non-generic pharmaceutical product candidates.

have not received approval for any of our proprietary (non-generic) drug development operations product candidates from the FDA.

compounds that we discover or in-license will require extensive and costly development, preclinical testing and clinical trials prior

to seeking regulatory approval for commercial sales.

Our most advanced product candidate, Adva-27a, and our potential Covid-19 treatments

in development, may never be approved for commercial sale.

We have not made any filings to date with the FDA or other regulatory bodies

in other jurisdictions.

The time required to attain product sales and profitability is lengthy and highly uncertain.

If we fail to obtain

required regulatory approvals for our pharmaceutical product candidates, our business will be materially harmed.

we have no approved non-generic pharmaceutical products on the market, we do not expect to generate significant revenues from non-generic

pharmaceutical product sales in the foreseeable future, if at all.

date, we have no approved non-generic pharmaceutical products on the market and have generated product revenues, solely from our OTC

supplements operations and generic pharmaceutical product sales.

We have funded our operations primarily from sales of our

We have not received, and do not expect to receive for at least the next three to four years, if at all, any revenues

from the commercialization of our non-generic pharmaceutical product candidates.

To obtain revenues from sales of such

pharmaceutical product candidates, we must succeed, either alone or with third parties, in developing, obtaining regulatory approval

for, manufacturing, marketing and distributing drugs with commercial potential.

We may never succeed in these activities, and we may

not generate sufficient revenues to continue our business operations or achieve profitability.

will require additional funding to satisfy our future capital needs, which may not be available.

may require significant additional funding in large part due to our research and development expenses, future preclinical and clinical

testing costs, and the absence of significant revenues in the near future.

We do not know whether additional financing will be available

to us on favorable terms or at all.

If we cannot raise additional funds, we may be required to reduce our capital expenditures,

scale back product development programs, reduce our workforce and license to others products or technologies that we may otherwise be

able to commercialize.

We are currently unable to project when or whether our operations will generate positive cash flows from operations.

additional equity securities we issue or issuances of debt we may enter into or undertake may have rights, preferences or privileges

senior to those of existing holders of common stock.

To the extent that we raise additional funds through collaboration and licensing

arrangements, we may be required to relinquish some rights to our technologies or product candidates or grant licenses on terms that

are not favorable to us.

FDA may change its approval policies or requirements, or apply interpretations to its policies or requirements, in a manner that could

delay or prevent commercialization of Adva-27a or our potential Covid-19 treatment in development.

requirements may change in a manner that requires us to conduct additional clinical trials, which may delay or prevent commercialization

of our Adva-27a and potential Covid-19 treatment in development.

We cannot provide any assurance that the FDA will not require us to

repeat existing studies or conduct new or unforeseen experiments in order to demonstrate the safety and efficacy of any product candidate

before considering the approval of such product candidate.

product candidate we are developing for the treatment of Covid-19 may not be granted an emergency use authorization by the FDA.

do not receive such authorization, or if, once granted, it is terminated, we will be required to pursue the drug approval process, which

is lengthy and expensive.

to completing and receiving favorable results for clinical trials, we intend to seek emergency use authorization, or EUA, for a

potential Covid-19 treatment, which would allow us to market and sell such product candidate without the need to pursue the lengthy

and expensive drug approval process.

The FDA may issue an EUA during a public health emergency if it determines that the potential

benefits of a product outweigh the potential risks and if other regulatory criteria are met.

In addition, the FDA may revoke an EUA

where it is determined that the underlying health emergency no longer exists or warrants such authorization.

We may not receive EUA

for any Covid-19 treatment product candidate.

In addition, even if we do receive EUA for any product candidate, we cannot predict

how long such EUA will remain in place.

If we fail to receive an EUA for any Covid-19 product candidate, or such EUA is granted but

subsequently terminated, our business, financial condition and results of operations could be adversely affected.

business would be materially harmed if we fail to obtain FDA approval for our pharmaceutical product candidates.

anticipate that our ability to generate significant product revenues from our drug development business will depend on the successful

development and commercialization of Adva-27a or our potential Covid-19 treatment in development.

The FDA may not approve in a timely

manner, or at all, any of our drug candidates.

If we are unable to submit a new drug application, or NDA for our product candidates,

we will be unable to commercialize such products and our business will be materially harmed.

The FDA can and does reject NDAs, and often

requires additional clinical trials, even when product candidates performed well or achieved favorable results in large-scale Phase III

clinical trials.

The FDA imposes substantial requirements on the introduction of pharmaceutical products through lengthy and detailed

laboratory and clinical testing procedures, sampling activities and other costly and time-consuming procedures.

Satisfaction of these

requirements typically takes several years and may vary substantially based upon the type and complexity of the pharmaceutical product.

Our product candidates are novel compounds or new chemical entities, which may further increase the time required for satisfactory testing

obtained from preclinical and clinical activities are susceptible to varying interpretations, which could delay, limit or prevent regulatory

In addition, delays or rejections may be encountered based on changes in, or additions to, regulatory policies for drug approval

during product development and regulatory review.

Government regulation may delay or prevent the commencement of clinical trials or marketing

of our product candidates, impose costly procedures upon our activities and provide an advantage to our competitors with greater financial

resources or more experience in regulatory affairs.

The FDA may not approve our product candidates for clinical trials or marketing on

a timely basis or at all.

Delayed or failed approvals would adversely affect the marketing of our product candidates and our liquidity

and capital resources.

products and their manufacturers are subject to continual regulatory review after the product receives FDA approval.

Later discovery

of previously unknown problems with a product or manufacturer may result in additional clinical testing requirements or restrictions

on such product or manufacturer, including withdrawal of the product from the market.

Failure to comply with applicable regulatory requirements

can, among other things, result in fines, injunctions and civil penalties, suspensions or withdrawals of regulatory approvals, product

recalls, operating restrictions or shutdown and criminal prosecution.

We may lack sufficient resources and expertise to address these

and other regulatory issues as they arise.

may be sued or become a party to litigation, which could require significant management time and attention and result in significant

legal expenses and may result in an unfavorable outcome which could have a material adverse effect on our business, financial condition,

results of operations and cash flows.

may be forced to incur costs and expenses in connection with defending ourselves with respect to litigation and the payment of any settlement

or judgment in connection therewith if there is an unfavorable outcome.

The expense of defending litigation may be significant.

The amount of time to

resolve lawsuits is unpredictable and defending ourselves may divert management’s attention from the day-to-day operations of our

business, which could adversely affect our business, results of operations and cash flows.

of time to resolve lawsuits is unpredictable and defending ourselves may divert management’s attention from the day-to-day operations

of our business, which could adversely affect our business, results of operations and cash flows.

In addition, an unfavorable outcome

in any such litigation could have a material adverse effect on our business, results of operations and cash flows.

If we are unable to attract and retain qualified

scientific, technical and key management personnel, or if our key executive, Dr.

Slilaty, discontinues his employment with us,

it may delay our research and development efforts.

We rely on the services of

Slilaty for strategic and operational management, as well as for scientific and/or medical expertise in the development of our products.

we are unable to attract and retain qualified scientific, technical, and key management personnel, or if our key executive, Dr.

Slilaty, discontinues his employment with us, it may delay our research and development efforts.

rely on the services of Dr.

Slilaty for strategic and operational management, as well as for scientific and/or medical expertise in the

development of our products.

The loss of Dr.

Slilaty would result in a significant negative impact on our ability to implement our business plan.

We have not entered

into an employment agreement with any member of our management, including Dr.

Slilaty would result in a significant negative impact on our ability to implement our business

We have not entered into an employment agreement with any member of our management, including Dr.

The loss of Dr.

Slilaty will also significantly

delay or prevent the achievement of our business objectives.

Our business exposes us to potential product

liability risks and we may be unable to acquire and maintain sufficient insurance to provide adequate coverage against potential liabilities.

Our business exposes us to

potential product liability risks that are inherent in the testing, manufacturing and marketing of pharmaceutical products and nutritional

will also significantly delay or prevent the achievement of our business objectives.

business exposes us to potential product liability risks and we may be unable to acquire and maintain sufficient insurance to provide

adequate coverage against potential liabilities.

exposes us to potential product liability risks that are inherent in the testing, manufacturing and marketing of pharmaceutical products

and OTC supplements.

The use of our product candidates in clinical trials also exposes us to the possibility of product liability claims

2 unchanged sentences

and are commercialized.

We do not currently have any product liability insurance, although we plan to obtain product liability insurance

in connection with our nutritional supplement products and future clinical trials of our pharmaceutical product candidates.

to obtain product liability insurance for our nutritional supplements business in the near future.

However, our product liability insurance,

once obtained, may not provide adequate coverage against potential liabilities.

On occasion, juries have awarded large judgments

in class action lawsuits based on drugs that had unanticipated side effects.

A successful product liability claim or series of claims

brought against us would decrease our cash reserves and could cause our stock price to fall significantly.

We face regulation and risks related to

hazardous materials and environmental laws, violations of which may subject us to claims for damages or fines that could materially affect

our business, cash flows, financial condition and results of operations.

Our research and development

activities involve the use of controlled and/or hazardous materials and chemicals.

The risk of accidental contamination or injury from

these materials cannot be completely eliminated.

In the event of an accident, we could be held liable for any damages or fines that result,

and the liability could have a material adverse effect on our business, financial condition and results of operations.

We are also subject

to federal, state and local laws and regulations governing the use, manufacture, storage, handling and disposal of hazardous materials

and waste products.

If we fail to comply with these laws and regulations or with the conditions attached to our operating licenses, the

licenses could be revoked, and we could be subjected to criminal sanctions and substantial liability or be required to suspend or modify

our operations.

We currently have product liability insurance for our generic drugs and we plan to obtain product liability insurance

in connection with our OTC supplements and future clinical trials of our pharmaceutical product candidates in the near future.

our current and future product liability insurance, once obtained, may not provide adequate coverage against potential liabilities.

occasion, juries have awarded large judgments in class action lawsuits based on drugs that had unanticipated side effects.

product liability claim or series of claims brought against us would decrease our cash reserves and could cause our stock price to fall

significantly.

face regulation and risks related to hazardous materials and environmental laws, violations of which may subject us to claims for damages

or fines that could materially affect our business, cash flows, financial condition and results of operations.

research and development activities involve the use of controlled and/or hazardous materials and chemicals.

The risk of accidental contamination

or injury from these materials cannot be completely eliminated.

In the event of an accident, we could be held liable for any damages

or fines that result, and the liability could have a material adverse effect on our business, financial condition, and results of operations.

We are also subject to federal, state and local laws and regulations governing the use, manufacture, storage, handling and disposal of

hazardous materials and waste products.

If we fail to comply with these laws and regulations or with the conditions attached to our operating

licenses, the licenses could be revoked, and we could be subjected to criminal sanctions and substantial liability or be required to

suspend or modify our operations.

In addition, we may have to incur significant costs to comply with future environmental laws and regulations.

We do not currently have a pollution and remediation insurance policy.

Third party manufacturers may not be able

to manufacture our pharmaceutical product candidates, which would prevent us from commercializing our product candidates.

If any of our pharmaceutical

product candidates is approved by the FDA or other regulatory agencies for commercial sale, we will need third parties to manufacture

the product in larger quantities.

If we are able to reach an agreement with any collaborator or third party manufacturer in the future,

of which there can be no assurance due to factors beyond our control, these collaborators and/or third party manufacturers may not be

able to increase their manufacturing capacity for any of our product candidates in a timely or economic manner, or at all.

scale-up of manufacturing may require additional validation studies, which the FDA must review and approve.

If we are unable to increase

the manufacturing capacity for a product candidate successfully, the regulatory approval or commercial launch of that product candidate

may be delayed or there may be a shortage in the supply of the product candidate.

party manufacturers may not be able to manufacture our pharmaceutical product candidates, which would prevent us from commercializing

our product candidates.

any of our pharmaceutical product candidates is approved by the FDA or other regulatory agencies for commercial sale, we will need third

parties to manufacture the product in larger quantities.

If we are able to reach an agreement with any collaborator or third party manufacturer

in the future, of which there can be no assurance due to factors beyond our control, these collaborators and/or third party manufacturers

may not be able to increase their manufacturing capacity for any of our product candidates in a timely or economic manner, or at all.

Significant scale-up of manufacturing may require additional validation studies, which the FDA must review and approve.

If we are unable

to increase the manufacturing capacity for a product candidate successfully, the regulatory approval or commercial launch of that product

candidate may be delayed or there may be a shortage in the supply of the product candidate.

Our product candidates require precise, high-quality

manufacturing.

The failure of collaborators or third party manufacturers to achieve and maintain these high manufacturing standards, including

the incidence of manufacturing errors, could result in patient injury or death, product recalls or withdrawals, delays or failures in

product testing or delivery, cost overruns or other problems that could seriously harm our business.

If we are unable to establish sales and

marketing capabilities for our pharmaceutical product candidates or enter into agreements with third parties to sell and market any such

products we may develop, we may be unable to generate revenues from our pharmaceutical business.

We do not currently have product

sales and marketing capabilities for our pharmaceutical operations.

If we receive regulatory approval to commence commercial sales

of any of our pharmaceutical product candidates, we will have to establish a sales and marketing organization with appropriate technical

expertise and distribution capabilities or make arrangements with third parties to perform these services in other jurisdictions.

receive approval in applicable jurisdictions to commercialize Adva-27a for the treatment of breast cancer indication, we intend to engage

additional pharmaceutical or health care companies with existing distribution systems and direct sales organizations to assist us in North

America and throughout the world.

We may not be able to negotiate favorable distribution partnering arrangements, if at all.

To the extent

we enter into co-promotion or other licensing arrangements, any revenues we receive will depend on the efforts of third parties and will

not be under our control.

If we are unable to establish adequate sales, marketing and distribution capabilities, whether independently

or with third parties, our ability to generate product revenues, and become profitable, would be severely limited.

Even if we obtain required

US and foreign regulatory approvals, as applicable, factors that may inhibit our efforts to commercialize our pharmaceutical product candidates

without strategic partners or licensees include:

difficulty recruiting and retaining adequate numbers of effective sales and marketing personnel;

the inability of sales personnel to obtain access to, or persuade adequate numbers of, physicians to prescribe our products;

the lack of complementary products to be offered by sales personnel, which may put us at a competitive disadvantage against companies with broader product lines;

unforeseen costs associated with creating an independent sales and marketing organization.

Even if we successfully develop and obtain

approval for our proprietary drug product candidates, our business will not be profitable if such products do not achieve and maintain

market acceptance.

Even if our proprietary drug

product candidates are approved for commercial sale by the FDA or other regulatory authorities, the degree of market acceptance of our

approved product candidates by physicians, healthcare professionals, patients and third-party payors, and our resulting profitability

and growth, will depend on a number of factors, including:

our ability to provide acceptable evidence of safety and efficacy;

relative convenience and ease of administration;

the prevalence and severity of any adverse side effects;

the availability of alternative treatments;

the details of FDA labeling requirements, including the scope of approved indications and any safety warnings;

The failure of collaborators or third-party manufacturers to achieve and maintain these high manufacturing standards,

including the incidence of manufacturing errors, could result in patient injury or death, product recalls or withdrawals, delays or failures

in product testing or delivery, cost overruns or other problems that could seriously harm our business.

we are unable to establish sales and marketing capabilities for our pharmaceutical product candidates or enter into agreements with third

parties to sell and market any such products we may develop, we may be unable to generate revenues from our pharmaceutical business.

do not currently have product sales and marketing capabilities for our pharmaceutical operations.

If we receive regulatory approval to

commence commercial sales of any of our pharmaceutical product candidates, we will have to establish a sales and marketing organization

with appropriate technical expertise and distribution capabilities or make arrangements with third parties to perform these services

in other jurisdictions.

If we receive approval in applicable jurisdictions to commercialize Adva-27a for the treatment of breast cancer

indication, we intend to engage additional pharmaceutical or health care companies with existing distribution systems and direct sales

organizations to assist us in North America and throughout the world.

We may not be able to negotiate favorable distribution partnering

arrangements, if at all.

To the extent we enter into co-promotion or other licensing arrangements, any revenues we receive will depend

on the efforts of third parties and will not be under our control.

If we are unable to establish adequate sales, marketing and distribution

capabilities, whether independently or with third parties, our ability to generate product revenues, and become profitable, would be

severely limited.

if we obtain required US and foreign regulatory approvals, as applicable, factors that may inhibit our efforts to commercialize our pharmaceutical

product candidates without strategic partners or licensees include:

difficulty recruiting and

retaining adequate numbers of effective sales and marketing personnel;

the inability of sales personnel

to obtain access to, or persuade adequate numbers of, physicians to prescribe our products;

the lack of complementary

products to be offered by sales personnel, which may put us at a competitive disadvantage against companies with broader product

unforeseen costs associated

with creating an independent sales and marketing organization.

if we successfully develop and obtain approval for our proprietary drug product candidates, our business will not be profitable if such

products do not achieve and maintain market acceptance.

if our proprietary drug product candidates are approved for commercial sale by the FDA or other regulatory authorities, the degree of

market acceptance of our approved product candidates by physicians, healthcare professionals, patients and third-party payors, and our

resulting profitability and growth, will depend on a number of factors, including:

our ability to provide acceptable

evidence of safety and efficacy;

relative convenience and

ease of administration;

the prevalence and severity

of any adverse side effects;

the availability of alternative

the details of FDA labeling

requirements, including the scope of approved indications and any safety warnings;

pricing and cost effectiveness;

the effectiveness of our or our collaborators' sales and marketing strategy;

our ability to obtain sufficient third-party insurance coverage or reimbursement;

our ability to have the product listed on insurance company formularies.

If our proprietary drug product

candidates achieve market acceptance, we may not maintain that market acceptance over time if new products or technologies are introduced

that are received more favorably or are more cost effective.

Complications may also arise, such as development of new know-how or new

medical or therapeutic capabilities by other parties that render our product obsolete.

Because the results of preclinical studies

for our preclinical product candidates are not necessarily predictive of future results, our pharmaceutical product candidates may not

have favorable results in later clinical trials or ultimately receive regulatory approval.

Our proprietary drug product

candidates have not been tested in clinical trials.

Positive results from preclinical studies are no assurance that later clinical trials

will succeed.

Preclinical studies are not designed to establish the clinical efficacy of our preclinical product candidates.

required to demonstrate through clinical trials that our product candidates are safe and effective for use before we can seek regulatory

approvals for commercial sale.

There is typically an extremely high rate of failure as product candidates proceed through clinical trials.

our product candidates fail to demonstrate sufficient safety and efficacy in any clinical trial, we would experience potentially significant

delays in, or be required to abandon, development of that product candidate.

This would adversely affect our ability to generate

revenues and may damage our reputation in the industry and in the investment community.

The future clinical testing of our proprietary

drug product candidates could be delayed, resulting in increased costs to us and a delay in our ability to generate revenues.

Our proprietary drug product

candidates will require additional preclinical testing and extensive clinical trials prior to submitting a regulatory application for

commercial sales.

the effectiveness of our

or our collaborators' sales and marketing strategy;

our ability to obtain sufficient

third-party insurance coverage or reimbursement;

our ability to have the

product listed on insurance company formularies.

our proprietary drug product candidates achieve market acceptance, we may not maintain that market acceptance over time if new products

or technologies are introduced that are received more favorably or are more cost effective.

Complications may also arise, such as development

of new know-how or new medical or therapeutic capabilities by other parties that render our product obsolete.

the results of preclinical studies for our preclinical product candidates are not necessarily predictive of future results, our pharmaceutical

product candidates may not have favorable results in later clinical trials or ultimately receive regulatory approval.

proprietary drug product candidates have not been tested in clinical trials.

Positive results from preclinical studies are no assurance

that later clinical trials will succeed.

Preclinical studies are not designed to establish the clinical efficacy of our preclinical product

We will be required to demonstrate through clinical trials that our product candidates are safe and effective for use before

we can seek regulatory approvals for commercial sale.

There is typically an extremely high rate of failure as product candidates proceed

through clinical trials.

If our product candidates fail to demonstrate sufficient safety and efficacy in any clinical trial, we

would experience potentially significant delays in, or be required to abandon, development of that product candidate.

adversely affect our ability to generate revenues and may damage our reputation in the industry and in the investment community.

future clinical testing of our proprietary drug product candidates could be delayed, resulting in increased costs to us and a delay in

our ability to generate revenues.

proprietary drug product candidates will require additional preclinical testing and extensive clinical trials prior to submitting a regulatory

application for commercial sales.

We do not know whether clinical trials will begin on time, if at all.

Delays in the commencement of clinical testing

could significantly increase our product development costs and delay product commercialization.

In addition, many of the factors that

may cause, or lead to, a delay in the commencement of clinical trials may also ultimately lead to denial of regulatory approval of a product

Delays in the commencement

of clinical testing could significantly increase our product development costs and delay product commercialization.

In addition, many

of the factors that may cause, or lead to, a delay in the commencement of clinical trials may also ultimately lead to denial of regulatory

approval of a product candidate.

Each of these results would adversely affect our ability to generate revenues.

The commencement of clinical

trials can be delayed for a variety of reasons, including delays in:

demonstrating sufficient safety to obtain regulatory approval to commence a clinical trial;

reaching agreement on acceptable terms with prospective research organizations and trial sites;

manufacturing sufficient quantities of a product candidate;

obtaining institutional review board approvals to conduct clinical trials at prospective sites;

procuring adequate financing to fund the work.

In addition, the commencement

of clinical trials may be delayed due to insufficient patient enrollment, which is a function of many factors, including the size of the

patient population, the nature of the protocol, the proximity of patients to clinical sites, the availability of effective treatments

for the relevant disease, and the eligibility criteria for the clinical trial.

If we are unable to enroll a sufficient number of evaluable

patients, the clinical trials for our product candidates could be delayed until sufficient numbers are achieved.

We face or will face significant competition

from other biotechnology, pharmaceutical and nutritional supplement companies, and our operating results will suffer if we fail to compete

Most of our pharmaceutical company competitors, such as Merck,

Bristol-Myers Squibb, Pfizer, Amgen, and others, are large pharmaceutical companies with substantially greater financial, technical and

human resources than we have.

The biotechnology and pharmaceutical industries are intensely competitive and subject to rapid and significant

technological change.

The drugs that we are attempting to develop will compete with existing therapies if we receive marketing approval.

Because of their significant resources, our competitors may be able to use discovery technologies and techniques, or partnerships with

collaborators, to develop competing products that are more effective or less costly than the product candidate we are developing.

may render our technology or product candidate obsolete and noncompetitive.

Academic institutions, government agencies, and other public

and private research organizations may seek patent protection with respect to potentially competitive products or technologies and may

establish exclusive collaborative or licensing relationships with our competitors.

Our competitors may succeed

in obtaining FDA or other regulatory approvals for product candidates more rapidly than us.

Companies that complete clinical trials, obtain

required regulatory agency approvals and commence commercial sale of their drugs before we do may achieve a significant competitive advantage,

including certain FDA marketing exclusivity rights that would delay or prevent our ability to market certain products.

Any approved drugs

resulting from our research and development efforts, or from our joint efforts with our existing or future collaborative partners, might

not be able to compete successfully with our competitors' existing or future products.

We also face competition in

our nutritional supplements business.

The business of marketing nutritional supplements is highly competitive.

This market segment includes

numerous manufacturers, marketers, and retailers that actively compete for the business of consumers both in the United States and abroad.

The market is highly sensitive to the introduction of new products, which may rapidly capture a significant share of the market.

of similar products by competitors may materially and adversely affect our business, financial condition and results of operations.

The market for our potential Covid-19 treatment

in development could be adversely affected if the Covid-19 disease outbreak subsides.

Disease outbreaks are unpredictable.

In the event that the Covid-19 outbreak subsides, or Covid-19 is substantially eradicated, there may be reduced demand or need for our

potential Covid-19 treatment in development, which may have a negative effect on the market for such treatment, even if it is approved.

The Covid-19 pandemic has significantly

impacted worldwide economic conditions and could have a material adverse effect on our operations and business.

While we have been able to

continue to operate, the global Covid-19 pandemic has caused disruptions in supply chains, affecting production and sales across a range

of industries.

While the disruptions are currently expected to be temporary, there is considerable uncertainty around the duration and

the impact of these disruptions.

The extent of the impact of

Covid-19 on our operational and financial performance will depend on the on-going and future impact on our customers, vendors, service

providers, and availability of labor as well as the potential impact of future expanded local, state, or federal restrictions –

commencement of clinical trials can be delayed for a variety of reasons, including delays in:

demonstrating sufficient

safety to obtain regulatory approval to commence a clinical trial;

reaching agreement on acceptable

terms with prospective research organizations and trial sites;

manufacturing sufficient

quantities of a product candidate;

obtaining institutional

review board approvals to conduct clinical trials at prospective sites;

procuring adequate financing

to fund the work.

addition, the commencement of clinical trials may be delayed due to insufficient patient enrollment, which is a function of many factors,

including the size of the patient population, the nature of the protocol, the proximity of patients to clinical sites, the availability

of effective treatments for the relevant disease, and the eligibility criteria for the clinical trial.

If we are unable to enroll a sufficient

number of evaluable patients, the clinical trials for our product candidates could be delayed until sufficient numbers are achieved.

face or will face significant competition from other biotechnology, pharmaceutical and OTC supplements companies, and our operating results

will suffer if we fail to compete effectively.

of our pharmaceutical company competitors, such as Merck, Bristol-Myers Squibb, Pfizer, Amgen, and others, are large pharmaceutical companies

with substantially greater financial, technical, and human resources than we have.

The biotechnology and pharmaceutical industries are

intensely competitive and subject to rapid and significant technological change.

The drugs that we are attempting to develop will

compete with existing therapies if we receive marketing approval.

Because of their significant resources, our competitors may be able

to use discovery technologies and techniques, or partnerships with collaborators, to develop competing products that are more effective

or less costly than the product candidate we are developing.

This may render our technology or product candidate obsolete and noncompetitive.

Academic institutions, government agencies, and other public and private research organizations may seek patent protection with respect

to potentially competitive products or technologies and may establish exclusive collaborative or licensing relationships with our competitors.

competitors may succeed in obtaining FDA or other regulatory approvals for product candidates more rapidly than us.

Companies that complete

clinical trials, obtain required regulatory agency approvals and commence commercial sale of their drugs before we do may achieve a significant

competitive advantage, including certain FDA marketing exclusivity rights that would delay or prevent our ability to market certain products.

Any approved drugs resulting from our research and development efforts, or from our joint efforts with our existing or future collaborative

partners, might not be able to compete successfully with our competitors' existing or future products.

also face competition in our OTC supplements business.

The business of marketing OTC supplements is highly competitive.

This market segment

includes numerous manufacturers, marketers, and retailers that actively compete for the business of consumers both in the United States

The market is highly sensitive to the introduction of new products, which may rapidly capture a significant share of the

Sales of similar products by competitors may materially and adversely affect our business, financial condition, and results of

market for our potential Covid-19 treatment in development could be adversely affected if the Covid-19 disease outbreak subsides.

outbreaks are unpredictable.

In the event that the Covid-19 outbreak subsides, or Covid-19 is substantially eradicated, there may be

reduced demand or need for our potential Covid-19 treatment in development, which may have a negative effect on the market for such treatment,

even if it is approved.

Covid-19 pandemic has significantly impacted worldwide economic conditions and could have a material adverse effect on our operations

and business.

we have been able to continue to operate, the global Covid-19 pandemic has caused disruptions in supply chains, affecting production

and sales across a range of industries.

While the disruptions are currently expected to be temporary, there is considerable uncertainty

around the duration and the impact of these disruptions.

extent of the impact of Covid-19 on our operational and financial performance will depend on the on-going and future impact on our customers,

vendors, service providers, and availability of labor as well as the potential impact of future expanded local, state, or federal restrictions

– all of which are uncertain and are difficult to predict.

Because our proprietary drug product candidates

and our development and collaboration efforts depend on our intellectual property rights, adverse events affecting our intellectual property

rights will harm our ability to commercialize products.

Our success will depend to

a large degree on our own and our licensors’ ability to obtain and defend patents for each party's respective technologies and the

compounds and other products, if any, resulting from the application of such technologies.

The patent positions of pharmaceutical and

biotechnology companies can be highly uncertain and involve complex legal and technical questions.

No consistent policy regarding the

breadth of claims allowed in biotechnology patents has emerged to date.

Accordingly, we cannot predict the breadth of claims that

will be allowed or maintained, after challenge, in our or other companies' patents.

The degree of future protection

for our proprietary rights is uncertain, and we cannot ensure that:

we were the first to make the inventions covered by each of our pending patent applications;

we were the first to file patent applications for these inventions;

others will not independently develop similar or alternative technologies or duplicate any of our technologies;

any patents issued to us or our collaborators will provide a basis for commercially viable products, will provide us with any competitive advantages or will not be challenged by third parties;

our pending patent applications will result in issued patents;

we will develop additional proprietary technologies that are patentable;

the patents of others will not have a negative effect on our ability to do business;

our issued patents will have sufficient useful life remaining for commercial viability of our product candidate.

If we cannot maintain the

confidentiality of our technology and other confidential information in connection with our collaborations, then our ability to receive

patent protection or protect our proprietary information will be impaired.

In addition, some of the technology we have developed or licensed

relies on inventions developed using U.S.

our proprietary drug product candidates and our development and collaboration efforts depend on our intellectual property rights, adverse

events affecting our intellectual property rights will harm our ability to commercialize products.

success will depend to a large degree on our own and our licensors’ ability to obtain and defend patents for each party's respective

technologies and the compounds and other products, if any, resulting from the application of such technologies.

The patent positions

of pharmaceutical and biotechnology companies can be highly uncertain and involve complex legal and technical questions.

No consistent

policy regarding the breadth of claims allowed in biotechnology patents has emerged to date.

Accordingly, we cannot predict the breadth

of claims that will be allowed or maintained, after challenge, in our or other companies' patents.

degree of future protection for our proprietary rights is uncertain, and we cannot ensure that:

we were the first to make

the inventions covered by each of our pending patent applications;

we were the first to file

patent applications for these inventions;

others will not independently

develop similar or alternative technologies or duplicate any of our technologies;

any patents issued to us

or our collaborators will provide a basis for commercially viable products, will provide us with any competitive advantages or will

not be challenged by third parties;

our pending patent applications

will result in issued patents;

we will develop additional

proprietary technologies that are patentable;

the patents of others will

not have a negative effect on our ability to do business;

our issued patents will

have sufficient useful life remaining for commercial viability of our product candidate.

we cannot maintain the confidentiality of our technology and other confidential information in connection with our collaborations, then

our ability to receive patent protection or protect our proprietary information will be impaired.

In addition, some of the technology

we have developed or licensed relies on inventions developed using U.S.

and other governments’ resources.

Under applicable law, the U.S.

government has the

right to require us to grant a nonexclusive, partially exclusive or exclusive license for such technology to a responsible applicant or

applicants, upon terms that are reasonable under the circumstances, if the government determines that such action is necessary.

Confidentiality agreements with employees

and others may not adequately prevent disclosure of trade secrets and other proprietary information and may not adequately protect our

intellectual property.

We rely on trade secrets to

protect our technology, particularly when we do not believe patent protection is appropriate or obtainable.

However, trade secrets

are difficult to protect.

In order to protect our proprietary technology and processes, we rely in part on confidentiality and intellectual

property assignment agreements with our employees, consultants, outside scientific collaborators and sponsored researchers and other advisors.

agreements may not effectively prevent disclosure of confidential information nor result in the effective assignment to us of intellectual

property, and may not provide an adequate remedy in the event of unauthorized disclosure of confidential information or other breaches

of the agreements.

In addition, others may independently discover our trade secrets and proprietary information, and in such case we could

not assert any trade secret rights against such party.

Enforcing a claim that a party illegally obtained and is using our trade secrets

is difficult, expensive and time consuming, and the outcome is unpredictable.

In addition, courts outside the United States may be

less willing to protect trade secrets.

Costly and time-consuming litigation could be necessary to seek to enforce and determine the

scope of our proprietary rights, and failure to obtain or maintain trade secret protection could adversely affect our competitive business

The implementation of our business plan

may result in a period of rapid growth that will impose a significant burden on our current administrative and operational resources.

Our ability to effectively

manage our growth will require us to substantially expand the capabilities of our administrative and operational resources by attracting,

training, managing and retaining additional qualified personnel, including additional members of management, technicians and others.

successfully develop our products we will need to manage operating, producing, marketing and selling our products.

There can be no assurances

that we will be able to do so.

Our failure to successfully manage our growth will have a negative impact on our anticipated results of

A significant or prolonged economic downturn

could have a material adverse effect on our results of operations.

A significant or

prolonged economic downturn may adversely affect the disposable income of many consumers and may lower demand for our nutritional

supplement products.

Under applicable law,

government has the right to require us to grant a nonexclusive, partially exclusive or exclusive license for such technology

to a responsible applicant or applicants, upon terms that are reasonable under the circumstances, if the government determines that such

action is necessary.

Confidentiality

agreements with employees and others may not adequately prevent disclosure of trade secrets and other proprietary information and may

not adequately protect our intellectual property.

rely on trade secrets to protect our technology, particularly when we do not believe patent protection is appropriate or obtainable.

However, trade secrets are difficult to protect.

In order to protect our proprietary technology and processes, we rely in part on confidentiality

and intellectual property assignment agreements with our employees, consultants, outside scientific collaborators and sponsored researchers

and other advisors.

These agreements may not effectively prevent disclosure of confidential information nor result in the effective assignment

to us of intellectual property and may not provide an adequate remedy in the event of unauthorized disclosure of confidential information

or other breaches of the agreements.

In addition, others may independently discover our trade secrets and proprietary information, and

in such case we could not assert any trade secret rights against such party.

Enforcing a claim that a party illegally obtained and is

using our trade secrets is difficult, expensive and time consuming, and the outcome is unpredictable.

In addition, courts outside the

United States may be less willing to protect trade secrets.

Costly and time-consuming litigation could be necessary to seek to enforce

and determine the scope of our proprietary rights, and failure to obtain or maintain trade secret protection could adversely affect our

competitive business position.

implementation of our business plan may result in a period of rapid growth that will impose a significant burden on our current administrative

and operational resources.

ability to effectively manage our growth will require us to substantially expand the capabilities of our administrative and operational

resources by attracting, training, managing, and retaining additional qualified personnel, including additional members of management,

technicians, and others.

To successfully develop our products we will need to manage operating, producing, marketing and selling our products.

There can be no assurances that we will be able to do so.

Our failure to successfully manage our growth will have a negative impact on

our anticipated results of operations.

significant or prolonged economic downturn could have a material adverse effect on our results of operations.

significant or prolonged economic downturn may adversely affect the disposable income of many consumers and may lower demand for our

OTC supplement products.

Any decline in economic conditions in could negatively impact our business.

A significant decline in consumer

demand, even if only due in part to general economic conditions, could have a material adverse effect on our revenues and profit

The failure of our service providers and

suppliers to supply quality services and materials in sufficient quantities, at a favorable price, and in a timely fashion could adversely

affect the results of our operations.

Our outside manufacturer buys

raw materials for our nutritional supplements business from a limited number of suppliers.

The loss of any of our major suppliers or of

any supplier who, through our contract manufacturer, provides us materials that are hard to obtain elsewhere at the same quality could

adversely affect our business operations.

Although we believe we could establish alternate manufacturers and sources for most of our raw

materials, any delay in locating and establishing relationships with other sources could result in shortages of products we manufacture

from such raw materials, with a resulting loss of sales and customers.

In certain situations we may need to alter our products or with

our customer’s consent to substitute different materials from alternative sources.

A shortage of raw materials

or an unexpected interruption of supply could also result in higher prices for those materials.

We have experienced increases in various

raw material costs, transportation costs and the cost of petroleum-based raw materials and packaging supplies used in our business.

cost pricing pressures on raw materials and other products have continued throughout fiscal 2020 as a result of limited supplies of various

ingredients, the effects of higher labor and transportation costs, and impact of Covid-19.

We expect these upward pressures to continue

through fiscal 2021.

Although we may be able to raise our prices in response to significant increases in the cost of raw materials, we

may not be able to raise prices sufficiently or quickly enough to offset the negative effects such cost increases could have on our results

of operations or financial condition.

There can be no assurance

suppliers will provide the quality raw materials we need in the quantities requested or at a price we are willing to pay.

Because we do

not control the actual production of these raw materials, we are also subject to delays caused by interruption in production of materials

including but not limited to those resulting from conditions outside of our control, such as pandemics, weather, transportation interruptions,

strikes, terrorism, natural disasters, and other catastrophic events.

Our nutritional supplements business is

subject to the effects of adverse publicity, which could negatively affect our sales and revenues.

Our business can be affected

by adverse publicity or negative public perception about us, our competitors, our products, or our industry or competitors generally.

Adverse publicity may include publicity about the nutritional supplements industry generally, the efficacy, safety and quality of nutritional

supplements and other health care products or ingredients in general or our products or ingredients specifically, and regulatory investigations,

regardless of whether these investigations involve us or the business practices or products of our competitors, or our customers.

adverse publicity or negative public perception could have a material adverse effect on our business, financial condition and results

of operations.

Our business, financial condition and results of operations could be adversely affected if any of our products or any similar

products distributed by other companies are alleged to be or are proved to be harmful to consumers or to have unanticipated and unwanted

health consequences.

Our manufacturing and third party fulfillment

activities are subject to certain risks.

Our nutritional supplements

products are manufactured at third party manufacturing facilities in Canada.

As a result, we are dependent on the uninterrupted and efficient

operation of these facilities.

Such manufacturing operations, and those of its suppliers, are subject to power failures, blackouts, border

shutdowns, telecommunications failures, computer viruses, cybersecurity vulnerabilities, human error, breakdown, failure or substandard

performance of our facilities, our equipment, the improper installation or operation of equipment, terrorism, pandemics (including Covid-19),

natural or other disasters, intentional acts of violence, and the need to comply with the requirements or directives of governmental agencies,

including the FDA.

The occurrence of these or any other operational problems at such facilities may have a material adverse effect on

our business, financial condition and results of operations.

Risks Related to Our Common Stock

There is a limited market for our common

stock, and investors may find it difficult to buy and sell our shares.

Prior to February 15, 2022,

our common stock was quoted on the OTC Pink, which is an unorganized, inter-dealer, over-the-counter market which provides significantly

less liquidity than the Nasdaq Capital Market or other national securities exchanges.

Daily trading volume for our common stock since

January 2021 has ranged from 0 shares to 101,581,664 shares.

These factors may have an adverse impact on the trading and price of our

demand, even if only due in part to general economic conditions could have a material adverse effect on our revenues and profit margins.

failure of our service providers and suppliers to supply quality services and materials in sufficient quantities, at a favorable price,

and in a timely fashion could adversely affect the results of our operations.

outside manufacturer buys raw materials for our OTC supplements business from a limited number of suppliers.

The loss of any of our major

suppliers or of any supplier who, through our contract manufacturer, provides us materials that are hard to obtain elsewhere at the same

quality could adversely affect our business operations.

Although we believe we could establish alternate manufacturers and sources for

most of our raw materials, any delay in locating and establishing relationships with other sources could result in shortages of products

we manufacture from such raw materials, with a resulting loss of sales and customers.

In certain situations we may need to alter our

products or with our customer’s consent to substitute different materials from alternative sources.

shortage of raw materials or an unexpected interruption of supply could also result in higher prices for those materials.

We have experienced

increases in various raw material costs, transportation costs and the cost of petroleum-based raw materials and packaging supplies used

in our business.

Increasing cost pricing pressures on raw materials and other products have continued throughout fiscal 2020 as a result

of limited supplies of various ingredients, the effects of higher labor and transportation costs, and impact of Covid-19.

We expect these

upward pressures to continue through fiscal 2021.

Although we may be able to raise our prices in response to significant increases in

the cost of raw materials, we may not be able to raise prices sufficiently or quickly enough to offset the negative effects such cost

increases could have on our results of operations or financial condition.

can be no assurance suppliers will provide the quality raw materials we need in the quantities requested or at a price we are willing

Because we do not control the actual production of these raw materials, we are also subject to delays caused by interruption

in production of materials including but not limited to those resulting from conditions outside of our control, such as pandemics, weather,

transportation interruptions, strikes, terrorism, natural disasters, and other catastrophic events.

OTC supplements business is subject to the effects of adverse publicity, which could negatively affect our sales and revenues.

business can be affected by adverse publicity or negative public perception about us, our competitors, our products, or our industry

or competitors generally.

Adverse publicity may include publicity about the OTC supplements industry generally, the efficacy, safety

and quality of OTC supplements and other health care products or ingredients in general or our products or ingredients specifically,

and regulatory investigations, regardless of whether these investigations involve us or the business practices or products of our competitors,

or our customers.

Any adverse publicity or negative public perception could have a material adverse effect on our business, financial

condition and results of operations.

Our business, financial condition and results of operations could be adversely affected if any of

our products or any similar products distributed by other companies are alleged to be or are proved to be harmful to consumers or to

have unanticipated and unwanted health consequences.

manufacturing and third-party fulfillment activities are subject to certain risks.

OTC supplements products are manufactured at third party manufacturing facilities in Canada.

As a result, we are dependent on the uninterrupted

and efficient operation of these facilities.

Such manufacturing operations, and those of its suppliers, are subject to power failures,

blackouts, border shutdowns, telecommunications failures, computer viruses, cybersecurity vulnerabilities, human error, breakdown, failure

or substandard performance of our facilities, our equipment, the improper installation or operation of equipment, terrorism, pandemics

(including Covid-19), natural or other disasters, intentional acts of violence, and the need to comply with the requirements or directives

of governmental agencies, including the FDA.

The occurrence of these or any other operational problems at such facilities may have a

material adverse effect on our business, financial condition and results of operations.

Related to Our Common Stock

is a limited market for our common stock, and investors may find it difficult to buy and sell our shares.

to February 15, 2022, our common stock was quoted on the OTC Pink, which is an unorganized, inter-dealer, over-the-counter market which

provides significantly less liquidity than the Nasdaq Capital Market or other national securities exchanges.

common stock has been listed on the Nasdaq Capital Market since February 15, 2022.

Currently, our common stock is thinly traded and there

is no assurance any significant trading volume will develop or be sustained or that we will remain eligible for continued listing on

the Nasdaq Capital Market.

common stock has in the past been, and may in the future be considered, a “penny stock” and thus be subject to additional

sale and trading regulations that may make it more difficult to buy or sell.

common stock may in the future (if it is not then listed on a national

securities exchange) be considered a “penny stock.” Securities broker-dealers participating in sales of “penny stock”

are subject to the “penny stock” regulations set forth in Rules 15g-2 through 15g-9 promulgated under the Exchange Act.

brokers may be less willing to execute transactions in securities subject to the “penny stock” rules.

This may make it more

difficult for investors to dispose of our common stock and cause a decline in the market value of our stock.

do not intend to pay dividends on our common stock for the foreseeable future.

have paid no dividends on our common stock to date and we do not anticipate paying any dividends to holders of our common stock in the

foreseeable future.

While our future dividend policy will be based on the operating results and capital needs of the business, we currently

anticipate that we will retain any earnings to finance our future expansion and for the implementation of our business plan.

should take note of the fact that a lack of a dividend can further affect the market value of our common stock and could significantly

affect the value of any investment in the Company.

articles of incorporation allow for our board to create new series of preferred stock without further approval by our stockholders, which

could adversely affect the rights of the holders of our common stock.

board of directors has the authority to fix and determine the relative rights and preferences of preferred stock.

Our board of directors

has the authority to issue up to 30,000,000 shares of our preferred stock without further stockholder approval.

1,000,000 shares of preferred

stock are designated Series B Preferred Stock and 10,000 of such shares are outstanding and held by our chief executive officer.

board of directors could authorize the creation of additional series of preferred stock that would grant to holders of preferred stock

the right to our assets upon liquidation, or the right to receive dividend payments before dividends are distributed to the holders of

common stock.

Our common stock has been

listed on the Nasdaq Capital Market since February 15, 2022.

There is no assurance any significant trading volume in our common stock

will be sustained or that we will remain eligible for continued listing on the Nasdaq Capital Market.

Our common stock has in the past been, and

may in the future be considered, a “penny stock” and thus be subject to additional sale and trading regulations that may make

it more difficult to buy or sell.

Our common stock, which prior

to February 15, 2022, traded on the OTC Pink was previously, and may (if it is not then listed on a national securities exchange such

as the Nasdaq Capital Market) in the future be, considered a “penny stock.” Securities broker-dealers participating in sales

of “penny stock” are subject to the “penny stock” regulations set forth in Rules 15g-2 through 15g-9 promulgated

under the Exchange Act.

Generally, brokers may be less willing to execute transactions in securities subject to the “penny stock”

This may make it more difficult for investors to dispose of our common stock and cause a decline in the market value of our stock.

We do not intend to pay dividends on our

common stock for the foreseeable future.

We have paid no dividends

on our common stock to date and we do not anticipate paying any dividends to holders of our common stock in the foreseeable future.

our future dividend policy will be based on the operating results and capital needs of the business, we currently anticipate that we will

retain any earnings to finance our future expansion and for the implementation of our business plan.

Investors should take note of the

fact that a lack of a dividend can further affect the market value of our common stock and could significantly affect the value of any

investment in the Company.

Our articles of incorporation allow for

our board to create new series of preferred stock without further approval by our stockholders, which could adversely affect the rights

of the holders of our common stock.

Our board of directors has

the authority to fix and determine the relative rights and preferences of preferred stock.

Our board of directors has the authority to

issue up to 30,000,000 shares of our preferred stock without further stockholder approval.

1,000,000 shares of preferred stock are designated

Series B Preferred Stock and 10,000 of such shares are outstanding and held by our chief executive officer.

Our board of directors could

authorize the creation of additional series of preferred stock that would grant to holders of preferred stock the right to our assets

upon liquidation, or the right to receive dividend payments before dividends are distributed to the holders of common stock.

subject to the rules of any securities exchange on which our stock is then listed, our board of directors could authorize the creation

of additional series of preferred stock that has greater voting power than our common stock or that is convertible into our common stock,

which could decrease the relative voting power of our common stock or result in dilution to our existing stockholders.

Additional stock offerings in the future

or the issuance of stock upon exercise of outstanding warrants may dilute then-existing shareholders’ percentage ownership of the

Given our plans and expectations

that we will need additional capital and personnel, we anticipate that we will need to issue additional shares of common stock or securities

convertible or exercisable for shares of common stock, including convertible preferred stock, convertible notes, stock options or warrants.

In addition, as of March 16, 2022, we have 7,355,352 shares of common issuable upon exercise of outstanding warrants with an exercise

price of $2.22, subject to adjustment, and 1,302,251 shares issuable upon exercise of pre-funded warrants at a nominal exercise price

The issuance of additional securities in the future will dilute the percentage ownership of then current stockholders.

In addition, subject to the rules of any securities exchange on which our stock is then listed, our board of directors

could authorize the creation of additional series of preferred stock that has greater voting power than our common stock or that is convertible

into our common stock, which could decrease the relative voting power of our common stock or result in dilution to our existing stockholders.

stock offerings in the future or the issuance of stock upon exercise of outstanding warrants may dilute then-existing shareholders’

percentage ownership of the Company.

our plans and expectations that we will need additional capital and personnel, we anticipate that we will need to issue additional shares

of common stock or securities convertible or exercisable for shares of common stock, including convertible preferred stock, convertible

notes, stock options or warrants.

In addition, as of March 31, 2023, we have 1,764,594 and 9,725,690 shares of common issuable upon exercise of

outstanding warrants with an exercise price of $2.22, and $3.76, respectively.

The issuance of additional securities in the future will

dilute the percentage ownership of then current stockholders.

UNRESOLVED STAFF COMMENTS

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1A. Risk Factors