UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

~~Form~~FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended: ~~March~~June 3130, 2024

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________ to __________

Commission File Number: 000-55800

QRONS INC.

(Exact name of registrant as specified in its charter)

Wyoming		81-3623646
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

28-10 Jackson Avenue #26N Long Island City, New York		11101
(Address of principal executive offices)		(Zip Code)

(212)-945-2080

(Registrant’s telephone number, including area code)

___________________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act: None

Title of each class

Trading Symbol(s)

Name of each exchange

on which registered

None

N/A

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated Filer	☒	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of ~~May~~August 13, 2024, there were 13,~~649~~949,789 shares of the registrant’s common stock outstanding.

QRONS INC.

TABLE OF CONTENTS

		Page
	PART I – FINANCIAL INFORMATION
Item 1.	Financial Statements (Unaudited)		3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		2225
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		2730
Item 4.	Controls and Procedures		2730
	PART II – OTHER INFORMATION
Item 1.	Legal Proceedings		2932
Item 1A.	Risk Factors		2932
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		2932
Item 3.	Defaults Upon Senior Securities		2932
Item 4.	Mine Safety Disclosures		2932
Item 5.	Other Information		2932
Item 6.	Exhibits		3033
	SIGNATURES		3134

Table of Contents

PART I - FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

QRONS INC.

CONDENSED BALANCE SHEETS

	March 31, 2024			December 31, 2023
	June 30, 2024			December 31,2023
	(Unaudited)			(Audited)
ASSETS
Current assets
Cash and cash equivalents	$	311,~~637~~707		$	420
Total current assets		311,~~637~~707			420
TOTAL ASSETS	$	311,~~637~~707		$	420
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accounts payable and accrued liabilities	$	~~148~~140,~~062~~206		$	155,355
Accounts payable and accrued liabilities – related party		~~105~~108,~~002~~185			83,291
Demand loans, related party		85,873			85,873
Advances from related party		~~447~~467,000			424,500
Unsecured short-term advances		100,000			100,000
Convertible notes, net of debt discount		~~193~~216,~~492~~000			185,974
Derivative liabilities		~~267,202~~-			288,720
Total current liabilities		1,~~346~~117,~~631~~264			1,323,715
Long term liabilities
Convertible notes, net of discount		80,000			80,000
Derivative liabilities		4842,~~134~~716			84,998
Total long-term liabilities		~~128~~122,~~134~~716			164,998
Total liabilities		1,~~474~~239,~~765~~980			1,488,713
Stockholders’ deficit
Series A Preferred stock: $0.001 par value; 10,000 shares authorized; 2,000 shares issued and outstanding		2			2
Common stock, $0.0001 par value: 100,000,000 shares authorized; 13,649,789 shares issued and outstanding as at March 31, 2024 and December 31, 2023		1,365			1,365
Common stock, $0.0001 par value: 100,000,000 shares authorized; 13,949,789 and 13,649,789 shares issued and outstanding as at June 30, 2024 and December 31, 2023		1,395			1,365
Additional paid-in capital		89,~~894~~246,~~412~~503			8,834,631
Accumulated deficit		(10,~~366~~476,~~907~~173	)		(10,324,291	)
Total stockholders’ deficit		(1,~~471~~228,~~128~~273	)		(1,488,293	)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	311,~~637~~707		$	420

The accompanying notes are an integral part of these unaudited condensed financial statements.

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QRONS INC.

CONDENSED STATEMENTS OF OPERATIONS

(Unaudited)

	For the Three Months EndedMarch 31,
	Three Months ended						Six Months ended
	2024			2023
	June 30,						June 30,
Net sales	$	-		$	-
	2024			2023			2024			2023
Operating expenses:
Net sales	$	-		$	-		$	-		$	-
Research and development expenses		55,824			6,820
Operating expenses:
Professional fees		17,143			22,345
Research and development expenses		58,464			(9,706	)		114,288			(2,886	)
General and administrative expenses		13,407			7,777
Professional fees		9,538			18,875			26,681			41,220
Total operating expenses		86,374			36,942
General and administrative expenses		11,251			14,249			24,658			22,026
Loss from operations		(86,374	)		(36,942	)
Total operating expenses		79,253			23,418			165,627			60,360
Other income (expense)
Income (loss) from operations		(79,253	)		(23,418	)		(165,627	)		(60,360	)
Interest expense		(14,624	)		(17,477	)
Other income (expense)
Change in derivative liabilities		58,382			(14,039	)
(Loss) on extinguish debt		(29,780	)		(33,932	)		(29,780	)		(33,932	)
Total other income (expense)		43,758			(31,516	)
Interest expense		(13,624	)		(59,401	)		(28,248	)		(76,878	)
Net loss	$	(42,616	)	$	(68,458	)
Change in fair market value of derivative liabilities		13,391			104,005			71,773			89,966
Net loss per common shares (basic and diluted)	$	(0.00	)	$	(0.01	)
Total other income (expense)		(30,013	)		10,672			13,745			(20,844	)
Weighted average shares outstanding
Net income (loss)	$	(109,266	)	$	(12,746	)	$	(151,882	)	$	(81,204	)
(basic and diluted)		13,649,789			13,439,789
Net income (loss) per common share - basic	$	(0.01	)	$	(0.00	)	$	(0.01	)	$	(0.01	)
Weighted average shares outstanding
Basic and diluted		13,699,239			13,464,514			13,674,514			13,452,220

The accompanying notes are an integral part of these unaudited condensed financial statements.

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QRONS INC.

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

For the Three and Six Months ended ~~March~~June 3130, 2024 and 2023

(Unaudited)

									Additional					Total
	Series A Preferred				Common Stock				Paid-in		Accumulated			Stockholders’
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit
Balance, December 31, 2023		2,000	$	2		13,649,789	$	1,365	$	8,834,631	$	(10,324,291	)	$	(1,488,293	)
Stock options granted to non-employees as consulting fees		-		-		-		-		4,647		-			4,647
Stock options granted to non-employees as research and development costs		-		-		-		-		55,134		-			55,134
Net loss for the period												(42,616	)		(42,616	)
Balance, March 31, 2024		2,000	$	2		13,649,789	$	1,365	$	8,894,412	$	(10,366,907	)	$	(1,471,128	)
Derivative liability associated with warrants under convertible note amended		-		-		-		-		233,365		-			233,365
Issuance of common stock for note amendment		-		-		300,000		30		55,614		-			55,644
Stock options granted to non-employees as consulting fees		-		-		-		-		4,648		-			4,648
Stock options granted to non-employees as research and development costs		-		-		-		-		58,464		-			58,464
Net loss for the period												(109,266	)		(109,266	)
Balance, June 30, 2024		2,000	$	2		13,949,789	$	1,395	$	9,246,503	$	(10,476,173	)	$	(1,228,273	)

									Additional					Total
	Series A Preferred				Common Stock				Paid-in		Accumulated			Stockholders’
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit
Balance, December 31, 2022		2,000	$	2		13,439,789	$	1,344	$	8,254,316	$	(9,534,944	)	$	(1,279,282	)
Net loss for the period		-		-		-		-		-		(68,458	)		(68,458	)
Balance, March 31, 2023		2,000	$	2		13,439,789	$	1,344	$	8,254,316	$	(9,603,402	)	$	(1,347,740	)
Issuance of common stock for note amendment		-		-		150,000		15		52,485		-			52,500
Net loss for the period		-		-		-		-		-		(12,746	)		(12,746	)
Balance, June 30, 2023		2,000	$	2		13,589,789	$	1,359	$	8,306,801	$	(9,616,148	)	$	(1,307,986	)

The accompanying notes are an integral part of these unaudited condensed financial statements.

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QRONS INC.

CONDENSED STATEMENTS OF CASH FLOWS

(Unaudited)

	For the Three Months Ended March 31,
	For the Six Months EndedJune 30,
	2024			2023
Cash Flows From Operating Activities
Net loss	$	(42151,~~616~~882	)	$	(6881,~~458~~204	)
Adjustments to reconcile net loss to net cash used by operating activities:
Stock options issued for research and development expense		55113,~~134~~598			-
Stock options issued for consulting services		49,~~647~~295			-
Accretion of debt discount		7,516			11,377
Non-cash interest		-			38,000
Change in derivative liabilities		(58,382	)		14,039
Accretion of debt discount		14,024			20,774
Change in derivative liabilities		(71,773	)		(89,966	)
Loss on debt extinguishment		29,780			33,932
Changes in operating assets and liabilities:
Increase (Decrease) accounts payable and accrued liabilities		(7,293	)		17,856
Increase accounts payable and accrued liabilities		851			18,758
Increase accounts payable and accrued liabilities - related party		2124,~~711~~894			1130,~~605~~782
Net cash used by operating activities		(1931,~~283~~213	)		(1328,~~581~~924	)
Cash Flows From Investing Activities
Net cash provided from (used by) investing activities		-			-
Cash Flows From Financing Activities
Proceeds from related party advances		2242,500			1532,~~000~~500
Net cash provided from financing activities		2242,500			1532,~~000~~500
Decrease in cash and cash equivalents		3,217			1,419
Increase in cash and cash equivalents		11,287			3,576
Cash at beginning of year		420			3,069
Cash at end of period	$	311,~~637~~707		$	46,~~488~~645
SUPPLEMENTAL DISCLOSURES
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES
Accrued interest payable modified upon Note amendment	$	16,000		$	12,000
Common stock issued under Note amendment	$	55,644		$	52,500
Derivative liability associated with debt discount under Note amendment	$	-		$	29,461
Derivative liability associated with warrants under Note amendment	$	-		$	2,012
Derecognition of derivative liability	$	233,365		$	-

The accompanying notes are an integral part of these unaudited condensed financial statements.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 1 – Description of Business and Basis of Presentation

Organization and Nature of Business:

Qrons Inc. (“Qrons” or the “Company”) was incorporated under the laws of the State of Wyoming on August 22, 2016, under the name BioLabMart Inc. and changed its name to Qrons Inc., effective August 8, 2017.

The Company’s common stock was approved by the Financial Industry Regulatory Authority (“FINRA”) for quotation on the OTC pink sheets under the symbol “BLMB” as of July 3, 2017. FINRA announced the Company’s name change to Qrons Inc. on August 9, 2017. The new name and symbol change to “QRON” for the OTC Market was effective August 10, 2017. The Company’s common stock commenced trading on the OTCQB Venture Market on August 12, 2019.

The Company is an innovative biotechnology company dedicated to developing biotech products, treatments and technologies to combat neuronal and infectious diseases with a focus on antibiotic resistant bacteria, which is becoming the most prominent and rapidly growing worldwide cause of illness and death. Our approach is to seek to engage in strategic arrangements with companies, universities and, scientists that are developing unique know how and intellectual properties in the fields of, stem cells, antibiotic resistant drug development and tissue engineering, for deployment in the fight against neuronal and infectious diseases. Our search is focused on researchers based in Israel, a country which is world-renowned for biotech innovations and where our researchers are based.

The Company’s principal executive office is located at 28-10 Jackson Avenue, Long Island City, #26N, New York 11101.

Note 2 – Summary of Significant Accounting Policies

Financial Statements: The accompanying unaudited condensed financial statements of the Company have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”), including the instructions to Form 10-Q and Regulation S-X. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, they do not include all the information and notes necessary for comprehensive financial statements and should be read in conjunction with our audited financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023.

In the opinion of the management of the Company, all adjustments, which are of a normal recurring nature, necessary for a fair statement of the results for the three and six-month periods have been made. Results for the interim periods presented are not necessarily indicative of the results that might be expected for the entire fiscal year.

Fiscal year end: The Company has selected December 31 as its fiscal year end.

Use of Estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported therein. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be based upon amounts that differ from these estimates.

Cash Equivalents: The Company considers all highly liquid investments with original maturities of 90 days or less to be cash equivalents.

Research and Development Costs: ~~The~~ Company charges research and development costs to expense when incurred in accordance with FASB ASC 730, Research and Development. Research and development costs were $55,824 for the three months ended March 31, 2024. Research and development costs were $6,820 for the three months ended March 31, 2023.

The Company charges research and development costs to expense when incurred in accordance with FASB ASC 730, Research and Development. Research and development costs were $58,464 and $114,288 for the three and six months ended June 30, 2024. Research and development costs reflect a gain of $(9,706) and $(2,886) for the three and six months ended June 30, 2023, as the Company reversed certain previously accrued patent licensing fees in the six months ended June 30, 2023.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

~~Advertising~~Note ~~and~~2 ~~Marketing Costs:~~– ~~Advertising~~Summary ~~and~~of ~~marketing~~Significant ~~costs~~Accounting ~~are~~Policies ~~expensed as incurred. The Company incurred no advertising and marketing costs during the three month periods ended March 31, 2024 and 2023.~~(continued)

Advertising and Marketing Costs: Advertising and marketing costs are expensed as incurred. The Company incurred no advertising and marketing costs during the three- and six-month periods ended June 30, 2024 and 2023.

Related Parties: For the purposes of these financial statements, parties are considered to be related if one party has the ability, directly or indirectly, to control the party or exercise significant influence over the party in making financial and operating decisions, or vice versa, or where the Company and the party are subject to common control or common significant influence. Related parties may be individuals or other entities.

Stock Based Compensation and Other Share-Based Payments: The Company records stock-based compensation in accordance with ASC 718, Compensation - Stock Compensation, using the fair value method of the award on grant date. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the equity instruments issued. The expense attributable to the Company’s directors is recognized over the period the amounts are earned and vested, and the expense attributable to the Company’s non-employees is recognized when vested, as described in Note 9, Stock Plan.

Fair Value of Financial Instruments

ASC 820, Fair Value Measurements, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are financial instruments whose values are determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant judgment or estimation.

If the inputs used to measure the financial assets and liabilities fall within more than one level described above, the categorization is based on the lowest level of input that is significant to the fair value measurement of the instrument.

The following table provides a summary of the fair value of the Company’s derivative liabilities as of ~~March~~June 3130, 2024, and December 31, 2023:

	Fair value measurements on a recurring basis
	Level 1		Level 2		Level 3
As of March 31, 2024:
As of June 30, 2024:
Liabilities
Derivative liabilities	$	-	$	-	$	~~315~~42,~~336~~716
As of December 31, 2023:
Liabilities
Derivative liabilities	$	-	$	-	$	373,718

Warrants: The Company accounts for common stock warrants in accordance with applicable accounting guidance provided in ASC 815 Derivatives and Hedging, as either derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement. For warrants classified as equity instruments the Company applies the Black Scholes model and expenses the fair value as financing costs. For warrants classified as derivative financial instruments the Company applies the Monte Carlo model to value the warrants.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 2 – Summary of Significant Accounting Policies (continued)

Warrants: The Company accounts for common stock warrants in accordance with applicable accounting guidance provided in ASC 815 Derivatives and Hedging, as either derivative liabilities or as equity instruments depending on the specific terms of the warrant agreement. For warrants classified as equity instruments the Company applies the Black Scholes model and expenses the fair value as financing costs. For warrants classified as derivative financial instruments the Company applies the Monte Carlo model to value the warrants.

Income taxes: The Company has adopted ASC 740, Income Taxes, which requires the use of the asset and liability method of accounting for income taxes. Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement 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 in which those temporary differences are expected to be recovered or settled.

Basic and Diluted Loss Per Share: In accordance with ASC 260, Earnings Per Share, the basic loss per common share is computed by dividing the net loss available to common stockholders by the weighted average number of common stock outstanding. Diluted loss per common share is computed similar to basic loss per common share except that the denominator is increased to include the number of additional shares of common stock that would have been outstanding if the potential common stock had been issued and if the additional shares of common stock were dilutive.

Potential common stock consists of the incremental common stock issuable upon the exercise of common stock warrants (using the if-converted method), convertible notes, classes of shares with conversion features, and stock awards and stock options.

The table below reflects the potentially dilutive securities outstanding during each reporting period:

	March 31,2024		December 31,2023
	June 30,2024		December 31,2023
Research warrants at 3% of issued and outstanding shares		~~409~~418,494		409,494
Convertible notes		831,313		775,586
Series A preferred shares		700		700
Stock options vested		3,883,336		3,883,336
Stock options not yet vested		899,997		899,997
Stock purchase warrants		295,000		295,000
Total		6,~~319~~328,840		6,264,113

Recently Issued Accounting Pronouncements

In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires incremental disclosures related to a public entity’s reportable segments. Required disclosures include, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount for other segment items (which is the difference between segment revenue less segment expenses and less segment profit or loss) and a description of its composition, the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The standard also permits disclosure of more than one measure of segment profit. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company does not believe the adoption of ASU 2023-07 will have any impact on our financial statements.

In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires public entities on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate). ASU 2023-09 is effective for fiscal years beginning after December 15, 2025. We are evaluating the impact of adopting ASU 2023-09 on our financial statements.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 2 – Summary of Significant Accounting Policies (continued)

Recently Issued Accounting Pronouncements (cont’d)

In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which requires public entities on an annual basis to (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income or loss by the applicable statutory income tax rate). ASU 2023-09 is effective for fiscal years beginning after December 15, 2025. We are evaluating the impact of adopting ASU 2023-09 on our financial statements.

In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors, which requires registrants to disclose climate-related information in registration statements and annual reports. The new rules would be effective for annual reporting periods beginning in fiscal year 2025. However, in April 2024, the SEC exercised its discretion to stay these rules pending the completion of judicial review of certain consolidated petitions with the United States Court of Appeals for the Eighth Circuit in connection with these rules. We are evaluating the impact the adoption of this rule, if any, may have on our financial statements.

Note 3 – Going Concern

The Company has experienced net losses to date and has not generated revenues from operations. The Company raised proceeds totaling $66,000 in unsecured advances from related parties during the year ended December 31, 2023. In the most recent 36 months ended ~~March~~June 3130, 2024 the Company has received additional related party advances totaling $2242,500. Currently, the Company does not have significant cash or other material assets, nor does it have operations or a source of revenue sufficient to cover its operating costs and allow it to continue as a going concern. The Company’s officers or principal shareholders are committed to making advances or loans to pay for ongoing operational costs. The Company expects it will require additional capital to fully implement the scope of its proposed business operations, which also raises substantial doubt about its ability to continue as a going concern. The Company will have to continue to rely on equity and debt financing, and continued support from its officers and directors. There can be no assurance that financing, whether debt or equity, will be available to the Company in the amount required at any particular time or for any particular period or, if available, that it can be obtained on favorable terms. In addition, if the Company is unable to obtain adequate financing from the capital markets, the Company may be required to reduce the scope, delay, or eliminate some or all of its planned operations.

The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amount and classification of liabilities that might cause results from this uncertainty.

Note 4 – Convertible Note and Derivative Liabilities

(1) 8% Convertible notes with warrants issued in December 2019 and February 2020

In December 2019, we issued and sold in a private offering 8% convertible notes in the aggregate principal amount of $70,000. Such notes were due on December 31, 2021 and are convertible into shares of our common stock at a conversion price for each share of common stock equal to the lesser of: (a) $0.50; (b) the lowest price at which the Company has converted any convertible security of the Company (to the holder or to any third party) within 30 trading days prior to the date of delivery of the applicable notice of conversion; and (c) so long as lower than (a) or (b), such other price as the Company and the holder may agree. In connection with the 8% convertible note issuance, we issued warrants to purchase an aggregate of 70,000 shares of common stock at an exercise price of $1.00. The Company extended the maturity date of the notes to December 2022 upon initial maturity, and further extended the maturity date to December 2023 and subsequently, December 2025 under the same terms and conditions. The balance owing on the note is reflected on the Company’s balance sheets as a long -term liability as at ~~March~~June 3130, 2024.

On February 19, 2020, we issued and sold in a private offering an 8% convertible note in the principal amount of $10,000. The note is due on February 19, 2022 and is convertible into shares of common stock at a conversion price per share equal to the lesser of: (a) $0.50; (b) the lowest price at which the Company has converted any convertible security of the Company within 30 trading days prior to the date of delivery of the applicable notice of conversion; or (c) such other price as the Company and the holder may agree. In connection with the 8% convertible note issuance, we issued warrants to purchase an aggregate of 10,000 shares of common stock at an exercise price of $1.00. The Company extended the maturity date to February 2023 upon initial maturity, and further extended the maturity date to February 2024 and subsequently, February 2026 under the same terms and conditions. The balance owing on the note is reflected on the Company’s balance sheets as a long term liability as at March 31, 2024.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 4 – Convertible Note and Derivative Liabilities (continued)

(1) 8% Convertible notes with warrants issued in December 2019 and February 2020 (cont’d)

The carrying value of these convertible notes is as follows:

	March 31, 2024		December 31,2023
	June 30,2024		December 31,2023
Face value of certain convertible notes, long-term	$	80,000	$	80,000
Carrying value, long-term	$	80,000	$	80,000

Interest expenses associated with the convertible notes are as follows:

	Three Months Ended
	For Three Months EndedJune 30,				For Six Months EndedJune 30,
	March 31,
	2024		2023		2024		2023
	2024		2023
Interest on the convertible notes	$	1,595	$	1,561	$	3,191	$	3,174
Interest on the convertible notes		1,596		1,613
Total	$	1,595	$	1,561	$	3,191	$	3,174
Total	$	1,596	$	1,613

As of ~~March~~June 3130, 2024, and December 31, 2023, the unpaid interest balance on the convertible notes under accounts payable and accrued liabilities was $2729,~~265~~570 and $25,669, respectively.

The convertible notes qualify for derivative accounting and bifurcation under ASC 815. As of ~~March~~June 3130, 2024, and December 31, 2023, the fair value of the derivative liability associated with the conversion feature is summarized as follows:

Balance at December 31, 2023	$	84,998
Change in fair value		(3642,~~864~~282	)
Balance at March 31, 2024	$	48,134
Balance at June 30, 2024	$	42,716

The convertible notes qualify for derivative accounting and bifurcation under ASC 815. As of ~~March~~June 3130, 2023 and December 31, 2022, the fair value of the derivative liability associated with the conversion feature is summarized as follows:

Balance at December 31, 2022	$	57,033
Change in fair value		3822,~~089~~738
Balance at March 31, 2023	$	95,122
Balance at June 30, 2023	$	79,771

At December 31, 2023, as a result of the extension to the maturity dates the derivative liability is reflected in long-term liabilities. The fair value at the commitment and re-measurement dates for the Company’s derivative liabilities were based upon the following management assumptions as of March 31, 2024, and December 31, 2023 and the commitment date:

	CommitmentDate			March 31,2024			December 31,2023
Expected dividends		0			0			0
Expected volatility	154% ~ 173		%		117.54 ~ 119.57	%		170.40 ~ 224.62	%
Expected term	2.10 years			1.83 ~ 1.97 years				2.08 ~ 2.22 years
Risk free interest rate	1.42 ~ 1.65		%	4.59 ~ 4.81		%		4.23	%

The fair value at the commitment and re-measurement dates for the Company’s derivative liabilities were based upon the following management assumptions as of March 31, 2023, and December 31, 2022, and the commitment date:

	CommitmentDate			March 31,2023			December 31,2022
Expected dividends		0			0			0
Expected volatility		154% ~ 173	%		96.37% ~ 98.24	%		194.20 ~ 201.98	%
Expected term		2.10 years			0.83 ~ 0.97 years		1.08 ~ 1.22 years
Risk free interest rate	1.42 ~ 1.65%				4.64	%		4.41	%

(2) 8% Convertible note with warrants issued on June 15, 2021

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 4 – Convertible Note and Derivative Liabilities (continued)

(1) 8% Convertible notes with warrants issued in December 2019 and February 2020 (cont’d)

At December 31, 2023, as a result of the extension to the maturity dates the derivative liability is reflected in long-term liabilities. The fair value at the commitment and re-measurement dates for the Company’s derivative liabilities were based upon the following management assumptions as of June 30, 2024, and December 31, 2023 and the commitment date:

	Commitment Date			June 30, 2024			December 31, 2023
Expected dividends		0			0			0
Expected volatility		154%~173	%		106.40~110.79	%		170.40~224.62	%
Expected term		2.10 years			1.58 ~ 1.72 years			2.08 ~ 2.22 years
Risk free interest rate		1.42~1.65	%		4.90	%		4.23	%

The fair value at the commitment and re-measurement dates for the Company’s derivative liabilities were based upon the following management assumptions as of June 30, 2023, and December 31, 2022, and the commitment date:

	Commitment Date			June 30, 2023			December 31, 2022
Expected dividends		0			0			0
Expected volatility		154%~173	%		55.75%~61.78	%		194.20~201.98	%
Expected term		2.10 years			0.58 ~ 0.72 years			1.08 ~ 1.22 years
Risk free interest rate		1.42~1.65	%		5.47	%		4.41	%

(2) 8% Convertible note with warrants issued on June 15, 2021

On June 15, 2021, the Company entered into a note purchase agreement with Quick Capital, LLC (“Quick Capital”) pursuant to which the Company issued a twelve-month convertible promissory note in the principal amount of $115,000 for a $100,000 investment (the “Quick Note”), which included an original issuance discount of 10% and a $3,500 credit for legal and transaction costs. In connection with the Quick Note issuance, Quick Capital was also issued a five-year warrant (the “Quick Warrant”) to purchase up to an aggregate of 115,000 shares of the Company’s common stock at an exercise price of $1.00 per share (the “Quick Warrant Shares”) subject to adjustments for dilutive issuances at lower prices.

The Quick Note is convertible into shares of common stock at a conversion price of $0.50 per share. If delivery of the conversion shares is not timely made, the Company is obligated to pay Quick Capital $2,000 for each day that the delivery is late as liquidated damages. The conversion price of the Quick Note will be reduced if the Company issues common stock or grants derivative securities for consideration at a price less than the conversion price to the amount of the consideration of such dilutive issuance. The Quick Note may not be prepaid.

The Company is subject to significant cash penalties if the Company defaults on the Quick Note or in the event shares are not issued in a timely manner when a notice of conversion is provided. If an event of default occurs, the Quick Note will become immediately due and payable in an amount equal to 150% of the then outstanding principal amount of the Quick Note plus any interest or amounts owing to Quick Capital. The default provisions are based on the type of default and include a penalty of 50% of the principal plus accrued interest due (the “Default Sum”) and a parity value of the Default Sum based on the effective conversion of the Quick Note on the date of payment of the default and the maximum stock value during the period between the default date and the payment date.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

Note 4 – Convertible Note and Derivative Liabilities (continued)

(2) 8% Convertible note with warrants issued on June 15, 2021 (cont’d)

As of June 15, 2022, the Quick Note and accrued interest totaling $124,200 was not repaid on maturity, constituting an event of default increasing the repayment value of the Quick Note to an amount equal to 150% of the principal balance and accrued interest outstanding, or $186,300. On December 7, 2022, the Company and Quick Capital amended the Quick Note to extend the maturity date thereof to June 15, 2023, and amended the Warrant maturity date to June 15, 2027. Further Quick Capital agreed to reduce the outstanding balance of the Quick Note from $186,300 to $150,000 in consideration for the issuance of 150,000 shares of unregistered, restricted common stock valued at $76,350.

As of June 15, 2023, the Quick Note and accrued interest totaling $162,000 was not repaid on maturity, constituting an event of default increasing the repayment value of the note to an amount equal to 150% of the principal balance and accrued interest outstanding, or $243,000. On June 15, 2023, the Company and Quick Capital amended the Quick Note to extend the maturity date thereof to June 15, 2024, and amended the Warrant maturity date to June 15, 2028. Further Quick Capital agreed to reduce the outstanding balance of the Quick Note from $243,000 to $200,000 in consideration for the issuance of 150,000 shares of unregistered, restricted common stock valued at $52,500.

The Quick Note and accrued interest totaling $16,000 was not repaid on maturity. On June 15, 2024, the Company and Quick Capital amended the Quick Note to extend the maturity date thereof to June 15, 2025 and amend the Warrant maturity date to June 15, 2029. Further, Quick Capital agreed to waive adjustments for dilutive issuances at lower prices until January 1, 2025. In consideration of the additional extension of the Maturity Date, the Company agreed to issue 300,000 shares of unregistered, restricted common stock valued at $55,644.

The unpaid balance of the Quick Note continues to accrue interest at 8% per annum.

The Company valued the embedded default derivative liability of the Quick Note and the Quick Warrant liability, including the full ratchet reset feature, using Monte Carlo models.

The fair value of the Quick Note and Quick Warrant embedded default derivatives liability has been valued as of ~~March~~June 3115, 2024, (amendment date) and December 31, 2023. As of June 15, 2024, the Company ended the derivative treatment.

The carrying value of the Quick Note is as follows:

	March 31,2024			December 31,2023
	June 30,2024			December 31,2023
Face value of Quick Note	$	200,000		$	200,000
Less: unamortized discount		(6,508	)		(14,024	)
Interest payable add to principal		16,000			-
Carrying value	$	193,492		$	185,976
Less: unamortized discount		-			(14,024	)
Carrying value	$	216,000		$	185,976

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023

Interest expenses associated with the conversion feature are as follows:

	Three Months Ended
	For Three Months EndedJune 30,				For Six Months EndedJune 30,
	March 31,
	2024		2023		2024		2023
	2024		2023
Interest on Quick Note	$	3,998	$	8,909	$	7,987	$	11,868
Amortization of debt discount	$	7,516	$	11,377
Default interest		-		38,000		-		38,000
Interest on the convertible notes		3,989		2,959
Amortization of debt discount		6,508		9,397		14,024		20,774
Total	$	1110,~~505~~506	$	1456,~~336~~306	$	22,011	$	70,642

As of March 31, 2024, and December 31, 2023, the unpaid interest balance of the Quick Note under accounts payable and accrued liabilities was $12,712 and $8,723, respectively.

As a result of the application of ASC 815 as of March 31, 2024, the fair value of the derivative liability associated with the conversion feature is summarized as follows:

Balance at December 31, 2023	$	288,720
Change in fair value – convertible note		(19,665	)
Change in fair value – warrants		(1,853	)
Balance at March 31, 2024	$	267,202

As a result of the application of ASC 815 as of March 31, 2023, the fair value of the derivative liability associated with the conversion feature is summarized as follows:

Balance at December 31, 2022	$	301,742
Change in fair value – convertible note		(10,740	)
Change in fair value – warrants		(13,310	)
Balance at March 31, 2023	$	277,692

The fair value at the commitment and re-measurement dates for the Company’s derivative liabilities were based upon the following management assumptions as of March 31, 2024, December 31, 2023, the remeasurement date of June 15, 2023, and the commitment date:

Convertible note:	CommitmentDate			Re-measurement Date(June 15, 2023)			December 31,2023			March 31, 2024
Expected dividends		0			0			0			0
Expected volatility		307.10	%		95.60	%		176.9	%		98.20	%
Expected term	1 year			1 years			0.46 year			0.21 year
Risk free interest rate		0.18	%		4.83	%		4.78	%		4.98	%

Warrants:	CommitmentDate			Re-measurement Date(June 15, 2023)			December 31,2023			March 31, 2024
Expected dividends		0			0			0			0
Expected volatility		201.70	%		207.50	%		210.80	%		211.30	%
Expected term	5 years			5 years			4.46 years			4.21 years
Risk free interest rate		0.65	%		4.53	%		4.53	%		4.78	%

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

~~The~~Note ~~fair~~4 ~~value at the commitment and re-measurement~~– ~~dates~~Convertible ~~for~~Note ~~the Company’s derivative liabilities were based upon the following management assumptions as of March 31, 2023,~~ and ~~December~~Derivative ~~31,~~Liabilities ~~2022, and the commitment date:~~(continued)

Convertible note:	CommitmentDate			December 31,2022			March 31,2023
Expected dividends		0			0			0
Expected volatility		307.10	%		119.70	%		119.70	%
Expected term	1 years			0.45 years			0.21 years
Risk free interest rate		0.18	%		4.37	%		4.37	%

(2) 8% Convertible note with warrants issued on June 15, 2021 (cont’d)

Warrants:	CommitmentDate			December 31,2022			March 31,2023
Expected dividends		0			0			0
Expected volatility		201.70	%		219.10	%		222.20	%
Expected term	5 years			4.45 years			4.21 years
Risk free interest rate		0.65	%		4.27	%		4.19	%

As of June 30, 2024, and December 31, 2023, the unpaid interest balance of the Quick Note under accounts payable and accrued liabilities was $710 and $8,723, respectively.

The loss related to extinguishment on June 15, 2024 is as follows:

300,000 shares of common stock issued	$	55,644
Extinguishment of derivative liability – convertible note		(25,864	)
Gain on extinguishment of debt upon amendment to Quick Note terms	$	29,780

The loss related to extinguishment on June 15, 2023 is as follows:

150,000 shares of common stock issued	$	52,500
Extinguishment of derivative liability – convertible note		(22,679	)
Unamortized debt discount		2,099
Derivative Liability associated with warrants		2,012
Loss on extinguishment of debt upon amendment to Quick Note terms	$	33,932

As a result of the application of ASC 815 as of June 15, 2024, the fair value of the derivative liability associated with the conversion feature is summarized as follows:

Balance at December 31, 2023	$	288,720
Change in fair value – convertible note		(15,935	)
Change in fair value – warrants		(13,556	)
Gain due to balance of derivative liability – convertible note		(25,864	)
Contributed to additional paid in capital – balance of derivative liability - warrants		(233,365	)
Balance at June 30, 2024	$	-

As a result of the application of ASC 815 as of June 30, 2023 and December 31, 2022, the fair value of the derivative liability associated with the conversion feature is summarized as follows:

Balance at December 31, 2022	$	301,742
Extinguish – convertible note associated with amended		(22,679	)
Debt discount, day one, amended convertible note payable		29,461
Derivative Liability associated with warrants		2,012
Change in fair value – convertible note		(1,314	)
Change in fair value – warrants		(111,390	)
Balance at June 30, 2023	$	197,832

The fair value at the commitment and re-measurement dates for the Company’s derivative liabilities were based upon the following management assumptions as of December 31, 2023, the remeasurement date of June 15, 2024 and 2023, and the commitment date:

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

Note 4 – Convertible Note and Derivative Liabilities (continued)

(2) 8% Convertible note with warrants issued on June 15, 2021 (cont’d)

Convertible note:	Commitment Date			Re-measurement Date (June 15, 2023)			December 31, 2023			Re-measurement Date (June 15, 2024)
Expected dividends		0			0			0			0
Expected volatility		307.10	%		95.60	%		176.9	%		65.10	%
Expected term	1 year			1 years			0.46 year			0.50 year
Risk free interest rate		0.18	%		4.83	%		4.78	%		4.99	%

Warrants:	Commitment Date			Re-measurement Date (June 15, 2023)			December 31, 2023			Re-measurement Date (June 15, 2024)
Expected dividends		0			0			0			0
Expected volatility		201.70	%		207.50	%		210.80	%		208.80	%
Expected term	5 years			5 years			4.46 years			4 years
Risk free interest rate		0.65	%		4.53	%		4.53	%		4.80	%

The fair value at the commitment and re-measurement dates for the Company’s derivative liabilities were based upon the following management assumptions as of June 30, 2023 and December 31, 2022 and the commitment date:

Convertible note:	Commitment Date			December 31, 2022			June 30, 2023			Re-measurement Date (June 15, 2023)
Expected dividends		0			0			0			0
Expected volatility		307.10	%		119.70	%		93.80	%		95.60	%
Expected term	1 year			0.45 years			1 year			1 year
Risk free interest rate		0.18	%		4.37	%		5.00	%		4.83	%

Warrants:	Commitment Date			December 31, 2022			June 30, 2023			Re-measurement Date (June 15, 2023)
Expected dividends		0			0			0			0
Expected volatility		201.70	%		219.10	%		208.60	%		207.50	%
Expected term	5 years			4.45 years			4.96 years			5.00 years
Risk free interest rate		0.65	%		4.27	%		4.68	%		4.53	%

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

Note 5 – Unsecured Short-Term Advance from Third Party

On June 20, 2019, the Company received $100,000 from a third party in the form of an unsecured, demand, non-interest-bearing, short-term advance to meet its operating needs. The advance remains outstanding at ~~March~~June 3130, 2024 and December 31, 2023.

Note 6 – Related Party Transactions

(1) Demand Loan from related party

On May 1, 2019, the Company issued a promissory note (the “Note”) to CubeSquare in the principal amount of $50,000. The Company’s Chief Executive Officer is the managing partner and the Company’s President is a 25% owner of CubeSquare. The Note bears interest at the rate of 8% per annum and is due and payable by the Company upon demand from CubeSquare. The Company recorded interest expenses of $~~986~~ 987 and $~~997~~1,973 for the three and six months ended ~~March~~June 3130, 2024, respectively. The Company recorded interest expenses of $997 and $1,995 for the three and six months ended June 30, 2023, respectively.

On September 27, 2022 the Board and the related party noteholder agreed to cancel two convertible notes issued to Cubesquare and in full satisfaction of such outstanding debt to issue a new 6% promissory note (Ref: Note 4) in the principal amount of $35,873, representing the aggregate principal amount of $25,000 and the aggregate amount of any and all accrued interest in the amount of $10,873 as of September 27, 2022. The Company recorded interest expenses of $~~537~~ 536 and $~~531~~1,073 for the three and six months ended ~~March~~June 3130, 2024, respectively. The Company recorded interest expenses of $537 and $1,067 for the three and six months ended June 30, 2023, respectively.

As of ~~March~~June 3130, 2024, and December 31, 2023, the unpaid interest balance under accounts payable and accrued liabilities – related party in respect of the aforementioned notes was $2224,~~920~~443 and $21,397, respectively.

(2) Advances from Related Parties

A summary of the activity for the funds advanced from related parties help meet the Company’s operating needs at ~~March~~June 3130, 2024:

	Jonah Meer		Ido Merfeld		CubeSquare
December 31, 2023	$	338,500	$	76,000	$	10,000
Additions in period		1535,000		7,500		-
March 31, 2024	$	353,500	$	83,500	$	10,000
June 30, 2024	$	373,500	$	83,500	$	10,000

(3) Others

14Jonah ~~Table~~Meer, the Company’s Chief Executive Officer, made payments of ~~Contents~~$21,818 and $27,720 to various vendors during the six months ended June 30, 2024 and 2023, respectively. The balance payable to Mr. Meer of $81,976 and $60,128 is reflected in accounts payable, related party as of June 30, 2024, and December 31, 2023, respectively.

Ido Merfeld, the Company’s President, made $0 payments to various vendors during the six months ended June 30, 2024 ($596 – December 31, 2023). The balance payable to Mr. Merfeld of $1,765 is reflected in accounts payable, related party as of June 30, 2024, and December 31, 2023.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Jonah Meer, the Company’s Chief Executive Officer, made payments of $20,188 to various vendors during the three months ended March 31, 2024 ($33,860 – December 31, 2023). The balance payable to Mr. Meer of $80,316 and $60,128 is reflected in accounts payable, related party as of March 31, 2024, and December 31, 2023, respectively.

Ido Merfeld, the Company’s President, made $0 payments to various vendors during the three months ended March 31, 2024 ($596 – December 31, 2023). The balance payable to Mr. Merfeld of $1,765 is reflected in accounts payable, related party as of March 31, 2024, and December 31, 2023.

Note 7 – Intellectual Property License Agreement and Sponsored Research Agreement

Dartmouth College – Intellectual Property License Agreement

On October 2, 2019, the Company entered into an intellectual property license agreement (the “Intellectual Property License Agreement”) pursuant to which Dartmouth granted the Company an exclusive world-wide license under the patent application entitled “Mechanically Interlocked Molecules-based Materials for 3D Printing” in the field of human and animal health and certain additional patent rights to use and commercialize licensed products and services. The license grant includes the right of the Company to sublicense to third parties subject to the terms of the Agreement.

The Agreement provided for: (i) a $25,000 license issue fee; (ii) an annual license maintenance fee of $25,000, until the first commercial sale of a licensed product or service; (iii) an earned royalty of 2% of net sales of licensed products and services by the Company or a sublicensee; (iv) 15% of consideration received by the Company under a sublicense; and (v) beginning in the first calendar year after the first commercial sale, an annual minimum royalty payment of $500,000, $1,000,000 in the second calendar year, and $2,000,000 in the third calendar year and each year thereafter. The Company will also reimburse Dartmouth for all patent preparation, filing, maintenance and defense costs.

Under the Agreement, the Company was required to diligently proceed with the development, manufacture and sale of licensed products and licensed services, including funding at least $1,000,000 of research in each calendar year beginning in 2019 and ending with the first commercial sale of a licensed product; filing an IND/BLA (or equivalent) with the FDA or a comparable European regulatory agency before the four-year anniversary and make the first commercial sale of a licensed product before the twelve-year anniversary of the effective date of the Agreement and achieve annual net sales of at least $50,000,000 by 2033. If the Company failed to perform any of these obligations, Dartmouth has the option to terminate the Agreement or change the exclusive license to a nonexclusive license.

As the Company failed to fulfill its requirements under the Agreement Dartmouth declared the Company in default in August 2023, and terminated the license.

The Company and Dartmouth also agreed in February 2024 to add Professor Chenfeng Ke and Qianming Lin, both formerly of Dartmouth as co-inventors of the patent entitled Techniques for Promoting Neuronal Recovery and to add Dartmouth as co-owner of the patent together with Qrons.

As of ~~March~~June 3130, 2024, and December 31, 2023, the Company is indebted to Dartmouth for $50,000 of unpaid annual license fees and $4,877 of unpaid reimbursable patent maintenance costs.

The Company’s sponsored research agreement, pursuant to which the Company funded research conducted by Dartmouth of mutual interest to the parties terminated by its terms in July 2020.

Note 8 – License Agreement Term Sheet and Advisory Board Member Consulting Agreement

On July 17, 2023, the Company entered into a License Agreement Term Sheet (the “Agreement”) with Professors Benjamin Sredni and Michael Albeck (the “Professors”) and Dr. Ido Merfeld (“Merfeld), the Company’s President and co-Founder.

1517 Table of Contents

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 8 – License Agreement Term Sheet and Advisory Board Member Consulting Agreement (continued)

Merfeld is the inventor of certain patents and possesses certain related know-how particularly as to Pseudopolyrotaxanes and Cyclodextrins, all owned by the Company (“Qrons IP”).

The Professors granted Qrons an exclusive world-wide, perpetual license to the Background IP, unless the Background IP is returned should Qrons fail to meet certain fundraising and prosecution milestones.

The Background IP, independently or together with the Qrons IP will be used as part of a new research program allowing for the use of all Background IP by Qrons to experiment and commercialize the therapeutic effect of certain Tellurium based compounds on antibiotic resistance bacterial infections, Sepsis and Traumatic brain injuries (“Tellurium Research”).

The Tellurium Research will be allowed to expand to include other indications as progress warrants and agreed by the parties. The Professors and Merfeld as co-inventors will enter into a new patent filing for treating sepsis with certain Tellurium based compounds independently and in combination with Cyclodextrins, to be known as the “New Patent”. The New Patent will be assigned to Qrons, subject to Qrons rights under the Agreement.

As part of the Tellurium Research program the Professors will join Qrons’ Scientific Advisory Board.

All new intellectual properties and/or Know-how discovered and/or generated by The Tellurium Research (“Forward IP”) will be the sole property of Qrons. All the Background IP will remain to be the sole property of the Professors until an Exit Event occurs.

All additional patents developed, invented or otherwise during the course of the Tellurium Research will be filed, prosecuted, and maintained by Qrons.

Qrons and the Professors will share the expenses relating to the filing, prosecution and maintenance of the provisional period of the New Patent. Thereafter, all expenses related to the New Patent shall be the sole responsibility of Qrons.

Qrons is tasked with raising $2 million funds to support Tellurium Research. If within a year after the commencement of the Agreement, Qrons fails to raise at least $2 million, the license will be terminated unless agreed otherwise by the parties.

If Qrons shall (i) fail to prosecute and maintain in due order the New Patent or (ii) fail to launch a Phase 1 program with the FDA or a comparable European regulatory agency for at least one Tellurium based treatment on or before the three-year (3) anniversary of the date of the Agreement, then the Professors may terminate the license.

In the case of termination of the Agreement, Qrons shall at the request of the Professors transfer to the Professors & Merfeld ownership of the New Patent as well as the files, documents, research and new know how, in relation to the sepsis research.

As consideration for joining the Scientific Advisory Board, The Professors each received a grant of 150,000 common stock options exercisable at $0.50 with one-third (1/3) being immediately exercisable, and an additional one-third (1/3) exercisable on each of the first- and second-year anniversary dates of the Agreement. Each option shall have a 3-year term for which to exercise the option.

Adv. Avichai Isaschar and Hananel Levy will join the Company’s Business Advisory Board and as consideration each received a grant of 50,000 common stock options exercisable at $1.00 each with one-third (1/3) being immediately exercisable, and an additional one-third (1/3) exercisable on each of the first- and second-year anniversary dates of the Agreement. Each option shall have a 3-year term for which to exercise the option.

In18 ~~consideration~~Table of the Background IP, Qrons issued to the Professors, to be held as directed by them a total of 800,000 common stock options to purchase shares of Qrons common stock at an exercise price of $1.00 per share, fifty percent (50%) which shall be exercisable on the date of execution of the Agreement and the balance exercisable 1 year from the date of the Agreement. Should the Professors request to receive back the rights to the New Patent “all un-exercised options immediately expire.”Contents

16 Table of Contents

QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 8 – License Agreement Term Sheet and Advisory Board Member Consulting Agreement (continued)

In consideration of the Background IP, Qrons issued to the Professors, to be held as directed by them a total of 800,000 common stock options to purchase shares of Qrons common stock at an exercise price of $1.00 per share, fifty percent (50%) which shall be exercisable on the date of execution of the Agreement and the balance exercisable 1 year from the date of the Agreement. Should the Professors request to receive back the rights to the New Patent “all un-exercised options immediately expire.”

In consideration of licensing the Background IP, Qrons shall pay the Professors an earned Royalty of 2% (1% each) Net Sales of any Tellurium based transactions, anywhere in the World and pay to the Professors fifteen percent (15%) of all Sublicense Consideration received by Qrons and each Affiliate under a Sublicense.

In the case of a Qrons Exit Event (as defined in the Agreement) the Professors shall transfer full ownership of the Background IP to Qrons and in exchange receive two percent (2%) (1% each) of any consideration received by Qrons as part of such Exit Event.

On October 1, 2023, the Company entered into an Advisory Board Member Consulting Agreement (the “Agreement”) with Shiri Navon-Venezia (“Venezia”) whereunder Venezia shall provide advisory and consulting services to the Company as part of the Company’s Scientific Advisory Board. As consideration for the services, Venezia has been granted 100,000 three-year stock options at an exercise price of $0.50 per share of which 33,334 stock options shall vest immediately, 33,333 stock options vest on the one-year anniversary date of the Agreement and the remaining 33,333 stock options vest on the two-year anniversary date of the Agreement, provided Venezia is still providing services to the Company.

On October 1, 2023, the Company entered into an Advisory Board Member Consulting Agreement (the “Agreement”) with Dr. Motti Ratmansky (“Ratmansky”) whereunder Ratmansky shall continue to provide advisory and consulting services to the Company as part of the Company’s Scientific Advisory Board. As consideration for the services Ratmansky has been granted a five (5) year fully vested stock option to purchase 50,000 shares of the Company’s common stock at an exercise price of $2.00 per share.

On November 1, 2023, the Company entered into an Advisory Board Member Consulting Agreement (the “Agreement”) with Dr. Paul Kaye (“Kaye”) whereunder Kaye shall provide advisory and consulting services to the Company as part of the Company’s Scientific Advisory Board. As consideration for the services Kaye has been granted 50,000 three-year stock options at an exercise price of $2.00 per share of which 16,666 vest immediately, 16,667 stock options vest on the one-year anniversary date of the Agreement and the remaining 16,667 stock options vest on the two-year anniversary date of the Agreement, provided Kaye is still providing services to the Company.

Note 9 – Stock Plan

2016 Stock Option and Stock Award

On December 14, 2016, the Board adopted the Company’s 2016 Stock Option and Stock Award Plan (the “Plan”). The Plan provides for the award of stock options (incentive and non-qualified), stock awards and stock appreciation rights to officers, directors, employees and consultants who provide services to the Company. The terms of awards under the Plan are made by the Board. The Company has reserved 10 million shares for issuance under the Plan.

(a) Stock Options granted to Science Advisors, Business Advisors, Professors and employees

On December 22, 2022, the Board granted a five-year option to purchase 325,000 shares of common stock to a scientific advisor. The options have an exercise price of $2.00 per share, are immediately exercisable and were expensed on issue date.

~~During~~19 ~~the~~Table ~~year ended December 31, 2022, various fully vested three-year stock options to purchase 145,000 shares~~ of ~~common stock of the Company previously granted to science advisors and employees expired unexercised.~~ Contents

On July 17, 2023, under the License Agreement Term Sheet (ref: Note 9) the Board awarded Professors the following three-year stock options: (i) an immediately exercisable option to purchase 266,668 shares of common stock at an exercise price of $1.00 per share, (ii) an option to purchase 266,666 shares of common stock exercisable on July 15, 2024 at an exercise price of $1.00 per share and (iii) an option to purchase 266,666 shares of common stock exercisable on July 15, 2025 at an exercise price of $1.00 per share, provided the advisors are still providing services to the Company.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

Note 9 – Stock Plan (continued)

2016 Stock Option and Stock Award (cont’d)

(a) Stock Options granted to Science Advisors, Business Advisors, Professors and employees (cont’d)

During the year ended December 31, 2022, various fully vested three-year stock options to purchase 145,000 shares of common stock of the Company previously granted to science advisors and employees expired unexercised.

On July 17, 2023, under the License Agreement Term Sheet (ref: Note 9) the Board awarded its Science Advisors the following three-year stock options: (i) an immediately exercisable option to purchase 100,000 shares of common stock at an exercise price of $0.50 per share, (ii) an option to purchase 100,000 shares of common stock exercisable on July 15, 2024 at an exercise price of $0.50 per share and (iii) an option to purchase 100,000 shares of common stock exercisable on July 15, 2025 at an exercise price of $0.50 per share, provided the advisors are still providing services to the Company.

On July 17, 2023, under the License Agreement Term Sheet (ref: Note 9) the Board awarded its Businesses Advisors the following three-year stock options: (i) an immediately exercisable option to purchase 33,334 shares of common stock at an exercise price of $1.00 per share, (ii) an option to purchase 33,334 shares of common stock exercisable on July 15, 2024 at an exercise price of $1.00 per share and (iii) an option to purchase 33,332 shares of common stock exercisable on July 15, 2025 at an exercise price of $1.00 per share, provided the advisors are still providing services to the Company.

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

Note 9 – Stock Plan (continued)

2016 Stock Option and Stock Award (cont’d)

(a) Stock Options granted to Science Advisors, Business Advisors, Professors and employees (cont’d)

During the year ended December 31, 2023, various fully vested three-year stock options to purchase 294,999 shares of common stock of the Company previously granted to science advisors and employees expired unexercised.

The fair value of new option award during the year ended December 31, 2023, above is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions at the measurement date(s):

	Measurement date
Dividend yield		0	%
Expected volatility		229.85%~231	%
Risk-free interest rate		4.34	%
Expected life (years)		3
Stock Price	$	0.298 ~ 0.40
Exercise Price	$	0.50 ~ 2.00

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023

The following table is the recognized compensation in respect of the above stock option compensation, which amounts have been allocated as below:

	Three Months EndedMarch 31,
	Three Months ended				Six Months ended
	2024		2023
	June 30,				June 30,
Research and development expenses	$	55,134	$	-
	2024		2023		2024		2023
General and administrative expenses		4,647		-
Research and development expenses	$	58,464	$	-	$	113,598	$	-
Total	$	59,781	$	-
General and administrative expenses		4,648		-		9,295		-
Total	$	63,112	$	-	$	122,893	$	-

As21 ofTable ~~March 31, 2024, and December 31, 2023, total unrecognized compensation remaining to be recognized in future periods totaled $161,135 and $220,916, respectively. Details~~ of ~~outstanding options for employees, professors, scientific advisors and business advisors at March 31, 2024 are below:~~Contents

	Grant date	Vested		Unvested		Exercise price		Expiry
Scientific Advisors	12/17/19		33,333		-	$	2.00	12/17/24
	12/10/20		100,000		-	$	2.00	12/10/25
	12//22/21		325,000		-	$	2.00	12/22/26
	12/22/22		325,000		-	$	2.00	12/22/27
	07/17/23		50,000		-	$	0.50	07/17/26
	07/17/23		50,000		50,000	$	0.50	07/17/27
	07/17/23		50,000		50,000	$	0.50	07/17/28
	07/17/23		50,000		-	$	0.50	07/17/26
	07/17/23		50,000		50,000	$	0.50	07/17/27
	07/17/23		50,000		50,000	$	0.50	07/17/28
Business Advisors	07/17/23		16,667		-	$	1.00	07/17/26
	07/17/23		16,667		16,667	$	1.00	07/17/27
	07/17/23		16,666		16,666	$	1.00	07/17/28
	07/17/23		16,667		-	$	1.00	07/17/26
	07/17/23		16,667		16,667	$	1.00	07/17/27
	07/17/23		16,666		16,666	$	1.00	07/17/28
Professors	07/17/23		133,334		-	$	1.00	07/17/26
	07/17/23		133,333		133,333	$	1.00	07/17/27
	07/17/23		133,333		133,333	$	1.00	07/17/28
	07/17/23		133,334		-	$	1.00	07/17/26
	07/17/23		133,333		133,333	$	1.00	07/17/27
	07/17/23		133,333		133,333	$	1.00	07/17/28
Professors	10/01/23		50,000		-	$	2.00	10/01/28
Professors	10/01/23		33,334		-	$	0.50	10/01/26
	10/01/23		33,333		33,333	$	0.50	10/01/27
	10/01/23		33,333		33,333	$	0.50	10/01/28
Professors	11/01/23		16,667		-	$	2.00	11/01/26
	11/01/23		16,667		16,667	$	2.00	11/01/27
	11/01/23		16,666		16,666	$	2.00	11/01/28

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

As of June 30, 2024, and December 31, 2023, total unrecognized compensation remaining to be recognized in future periods totaled $98,023 and $220,916, respectively. Details of outstanding options for employees, professors, scientific advisors and business advisors at June 30, 2024 are below:

	Grant date	Vested		Unvested		Exercise price		Expiry
Scientific Advisors	12/17/19		33,333		-	$	2.00	12/17/24
	12/10/20		100,000		-	$	2.00	12/10/25
	12//22/21		325,000		-	$	2.00	12/22/26
	12/22/22		325,000		-	$	2.00	12/22/27
	07/17/23		50,000		-	$	0.50	07/17/26
	07/17/23		50,000		50,000	$	0.50	07/17/27
	07/17/23		50,000		50,000	$	0.50	07/17/28
	07/17/23		50,000		-	$	0.50	07/17/26
	07/17/23		50,000		50,000	$	0.50	07/17/27
	07/17/23		50,000		50,000	$	0.50	07/17/28

Business Advisors	07/17/23		16,667		-	$	1.00	07/17/26
	07/17/23		16,667		16,667	$	1.00	07/17/27
	07/17/23		16,666		16,666	$	1.00	07/17/28
	07/17/23		16,667		-	$	1.00	07/17/26
	07/17/23		16,667		16,667	$	1.00	07/17/27
	07/17/23		16,666		16,666	$	1.00	07/17/28

Professors	07/17/23		133,334		-	$	1.00	07/17/26
	07/17/23		133,333		133,333	$	1.00	07/17/27
	07/17/23		133,333		133,333	$	1.00	07/17/28
	07/17/23		133,334		-	$	1.00	07/17/26
	07/17/23		133,333		133,333	$	1.00	07/17/27
	07/17/23		133,333		133,333	$	1.00	07/17/28

Professors	10/01/23		50,000		-	$	2.00	10/01/28

Professors	10/01/23		33,334		-	$	0.50	10/01/26
	10/01/23		33,333		33,333	$	0.50	10/01/27
	10/01/23		33,333		33,333	$	0.50	10/01/28

Professors	11/01/23		16,667		-	$	2.00	11/01/26
	11/01/23		16,667		16,667	$	2.00	11/01/27
	11/01/23		16,666		16,666	$	2.00	11/01/28

(b) Stock Options granted to Officers:

On December 4, 2022, certain five-year stock options to purchase 600,000 shares of common stock of the Company previously granted to officers expired unexercised.

On December 22, 2022, the Board granted five-year options to purchase 325,000 shares of common stock to each of its two officers. The options have an exercise price of $2.00 per share, are immediately exercisable and were expensed on issue date.

During the year ended December 31, 2023, certain five-year stock options to purchase 650,000 shares of common stock of the Company previously granted to officers expired unexercised.

Following are the details of stock options granted to our officers at ~~March~~June 3130, 2024:

Name	Grant date	Exercisable		Exercise price		Expiry
Jonah Meer	12/17/19		325,000	$	2.00	12/17/24
	12/10/20		325,000	$	2.00	12/10/25
	12/22/21		325,000	$	2.00	12/22/26
	12/22/22		325,000	$	2.00	12/22/27

Ido Merfeld	12/17/19		325,000	$	2.00	12/17/24
	12/10/20		325,000	$	2.00	12/10/25
	12/22/21		325,000	$	2.00	12/22/26
	12/22/22		325,000	$	2.00	12/22/27

As22 Table of ~~March 31, 2024, and December 31, 2023 there was no unrecognized compensation with respect to the aforementioned stock options remaining to be recognized in future periods.~~Contents

A summary of the activity for the Company’s stock options at March 31, 2024 and March 31, 2023, is as follows:

	March 31, 2024						March 31, 2023
			Weighted Average Exercise		Weighted Average Remaining Contractual Life				Weighted Average Exercise		Weighted Average Remaining Contractual Life
	Shares		Price		(in years)		Shares		Price		(in years)
Outstanding, beginning of period		4,783,333	$	1.69		2.91		4,328,332	$	2		2.78
Granted		-	$	-		-		-	$	2		-
Exercised		-	$	-		-		-	$	-		-
Canceled/forfeited		-	$	-		-		-	$	2		-
Outstanding, end of period		4,783,333	$	1.44		2.66		4,328,332	$	2		2.78
Options exercisable, end of period		3,883,336	$	1.87		2.39		4,328,332	$	2		2.78
Weighted average fair value of options granted			$	1.75					$	2

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE ~~THREE~~SIX MONTHS ENDED ~~MARCH~~JUNE 3130, 2024 AND 2023

As of June 30, 2024, and December 31, 2023 there was no unrecognized compensation with respect to the aforementioned stock options remaining to be recognized in future periods.

A summary of the activity for the Company’s stock options at June 30, 2024 and June 30, 2023, is as follows:

	June 30, 2024						June 30, 2023
			Weighted Average Exercise		Weighted Average Remaining Contractual Life					Weighted Average Exercise		Weighted Average Remaining Contractual Life
	Shares		Price		(in years)		Shares			Price		(in years)
Outstanding, beginning of period		4,783,333	$	1.69		2.91		4,328,332		$	2		2.78
Granted		-	$	-		-		-		$	2		-
Exercised		-	$	-		-		-		$	-		-
Canceled/forfeited		-	$	-		-		(10,000	)	$	2		-
Outstanding, end of period		4,783,333	$	1.44		2.41		4,318,332		$	2		2.54
Options exercisable, end of period		3,883,336	$	1.87		2.14		4,318,332		$	2		2.54
Weighted average fair value of options granted			$	1.75						$	2

Note 10 – Capital Stock

Authorized:

The Company has authorized 100,000,000 shares of common stock, par value $0.0001, and 10,000 shares of preferred stock which is designated as Series A Preferred Stock, par value $0.001.

Series A Preferred Stock:

The Series A Preferred Stock is redeemable at the option of the Company at any time, in whole or in part, upon 10 trading days prior notice, at a price of $1.00 per share plus 4% per annum from the date of issuance (the “Stated Value”). The holders of the Series A Preferred Stock are entitled to a liquidation preference equal to the Stated Value, prior to the holders of other preferred stock or common stock. The holders of the Series A Preferred Stock have the right to convert such stock into common stock at a conversion rate equal to the Stated Value as of the conversion date divided by the average closing price of the common stock for the five previous trading days. The Company is required to reserve sufficient number of shares for the conversion of the Series A Preferred Stock. The holders of Class A Preferred Stock shall vote together as a single class with the holders of the Company’s common stock and the holders of any other class or series of shares entitled to vote with the common stock, with the holders of Class A Preferred Stock being entitled to 66 2/3% of the total votes on all such matters, regardless of the actual number of shares of Class A Preferred Stock then outstanding.

There were 2,000 shares of Series A Preferred Stock issued and outstanding as of ~~March~~June 3130, 2024, and December 31, 2023.

Common Stock

There were 13,~~649~~949,789 and 13,649,789 shares of common stock issued and outstanding as of ~~March~~June 3130, 2024, and December 31, 2023.

In June 2024, the Company issued 300,000 shares of its common stock to Quick Capital LLC with a value of $55,644 related to a loan amendment (Note 5).

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QRONS INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

In June 2023, the Company issued 150,000 shares of its common stock to Quick Capital LLC with a value of $52,500 related to a loan amendment (Note 5).

Common Stock Purchase Warrants

As of ~~March~~June 3130, 2024, and December 31, 2023, the following common stock purchase warrants were outstanding:

	Warrants		WeightedAverageExercisePrice
Outstanding – December 31, 2022		295,000	$	1.00
Granted		-		-
Canceled/forfeited		-		-
Exercised		-		-
Outstanding – December 31, 2023		295,000		1.00
Granted		-		-
Canceled/forfeited		-		-
Exercised		-		-
Outstanding – March 31, 2024		295,000	$	1.00
Outstanding – June 30, 2024		295,000	$	1.00

On June 15, 2021, the Company granted a convertible noteholder a warrant to purchase 115,000 shares of common stock at an exercise price of $1.00, subject to adjustments for full ratchet resets for dilutive issuances at lower prices. (See Note 4(2) above.)

Note 11 – Subsequent Events

The Company has evaluated events for the period through the date of the issuance of these financial statements and determined that there are no additional events requiring disclosure.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Quarterly Report on Form 10-Q contains predictions, estimates and other forward-looking statements relating to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “intends,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue” or the negative of these terms or other comparable terminology. Forward-looking statements involve known and unknown risks, uncertainties and other factors including the risks set forth in the section entitled “Risk Factors” in our prospectus, as filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2022, that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.

Forward-looking statements represent our management’s beliefs and assumptions only as of the date of this Report. You should read this Report with the understanding that our actual future results may be materially different from what we expect.

All forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they are made, except as required by federal securities and any other applicable law.

The management’s discussion and analysis of our financial condition and results of operations are based upon our condensed unaudited financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

The following discussion of our financial condition and results of operations should be read in conjunction with the notes to the unaudited financial statements appearing elsewhere in this Report and the Company’s audited financial statements for the fiscal year ended December 31, 2023, as filed with the SEC in its Annual Report on Form 10-K on April 15, 2024, along with the accompanying notes. As used in this Quarterly Report, the terms “we,” “us,” “our” and the “Company” means Qrons Inc.

The Company has relied primarily on its two co-founders, Jonah Meer, Chief Executive Officer, and Ido Merfeld, President, who are its sole directors to manage its day-to-day business and has outsourced professional services to third parties in an effort to maintain lower operational costs.

Messrs. Meer and Merfeld, as the holders of the Company’s issued and outstanding shares of the Company’s Class A Preferred Stock, collectively have 66 2/3% of the voting rights of the Company. Acting together, they will be able to influence the outcome of all corporate actions requiring the approval of our stockholders.

Plan of Operations

We are an innovative biotechnology company dedicated to developing products, treatments and technologies that create a platform to combat neuronal and infectious diseases. The Company’s approach is to marshal and leverage its proprietary research with developing unique know how and intellectual properties by seeking to engage in strategic arrangements with companies and institutions that are developing technologies in the fields of, molecular biology, stem cells, drug development and tissue engineering, for deployment in the fight against neuronal and infectious diseases, and such other indications that may make use of our technology. The Company’s search is focused on researchers based in Israel, a country which is world-renowned for biotech innovations and where our researchers are based.

2225 Table of Contents

To date, the Company has collaborated with universities and scientists in the fields of regenerative medicine, tissue engineering and 3D printable hydrogels to develop a treatment that integrates proprietary, engineer mesenchymal stem cells (“MSCs”), 3D printable implant, smart materials and a novel delivery system and has two product candidates for treating penetrating and non-penetrating (concussion-like) traumatic brain injuries, both integrating proprietary, anti-brain inflammation synthetic hydrogel and modified MSCs.

In early 2022, the Company began collaborating with scientists at a leading University in Israel to conduct preliminary experiments to confirm that a combination of certain molecule compounds that they invented which contain immunomodulating properties when integrated with ingredients in our QS200™ product candidate may substantially improve its solubility and allow very high dosage treatments which we believe offers treatment options to diffused axonal injuries. These molecules are being tested for certain indication in various Phase II trials conducted by others. We also believe that the improved dosage delivery may present a unique treatment option to patients who suffer from antibiotic resistant bacteria infection and Sepsis. We are looking to conduct such in vitro tests, which if successful we believe may provide an expedited pathway to human trials.

On July 17, 2023 the Company entered into a License Agreement Term sheet with Professors Benjamin Sredni and Michael Albeck (the “Professors”), to which Dr. Ido Merfeld, the Company’s President, was a party.

Under the Agreement the Professors, inventors of certain patents, applications, processes and who possess certain related know-how particularly as to AS101 Tellurium based compounds (the “Background IP”), agreed to license the Background IP to the Company. Dr. Merfeld is the inventor of certain patents and possesses certain related know-how particularly as to Pseudopolyrotaxanes and Cyclodextrins, all owned by the Company (“Qrons IP”).

We have not generated any revenue from the sale of products.

Results of Operations

Three Months Ended ~~March~~June 3130, 2024 and ~~March~~June 3130, 2023

Revenue

We have not generated any revenue since our inception and do not expect to generate any revenue from the sale of products in the near future.

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Net Loss

We reported a net loss of $42109,~~616~~266 in the three months ended ~~March~~June 3130, 2024 as compared to a net loss of $6812,~~458~~746 in the three months ended ~~March~~June 3130, 2023 as follows:

	Three Months ended
	March 31,
	June 30,
	2024			2023
Net sales	$	-		$	-
Operating expenses:
Research and development expenses		5558,~~824~~464			6(9,~~820~~706	)
Professional fees		179,~~143~~538			2218,~~345~~875
General and administrative expenses		1311,~~407~~251			714,~~777~~249
Total operating expenses		8679,~~374~~253			3623,~~942~~418
Income (loss) from operations		(8679,~~374~~253	)		(3623,~~942~~418	)
Other income (expense)
Interest expense		(14,624	)		(17,477	)
Loss on extinguishment of debt		(29,780	)		(33,932	)
Change in fair market value of derivative liabilities		58,382			(14,039	)
Interest expense		(13,624	)		(59,401	)
Total other income		43,758			(31,516	)
Change in fair market value of derivative liabilities		13,391			104,005
Net income (loss)	$	(42,616	)	$	(68,458	)
Total other income (expense)		(30,013	)		10,672
Net income (loss)	$	(109,266	)	$	(12,746	)

Operating Expenses

Total operating expenses for the three months ended ~~March~~June 3130, 2024 were $8679,~~374~~253 compared to total operating expenses of $3623,~~942~~418 for the three months ended ~~March~~June 3130, 2023. The substantial increase in operating expenses during the three months ended ~~March~~June 3130, 2024 is primarily due to aan ~~substantial~~ increase in research and development expenses period over period, from a reported gain of $69,~~820~~706 for the three months ended ~~March~~June 3130, 2023 toas ofthe ~~$55,824~~Company inreversed the ~~current~~prior ~~three~~accrual ~~months~~of ~~ended~~certain ~~March~~annual ~~31,~~license ~~2024. The~~fees ~~Company~~upon ~~also~~the ~~recorded~~termination of an ~~increase~~intellectual toproperty ~~general~~licensing ~~and~~agreement ~~administrative~~with ~~expenses~~certain inindustry ~~the~~partners ~~comparative~~to ~~three-month~~expenses ~~periods~~of ~~from~~ $758,~~777~~464 incomprised ~~the~~entirely ~~three~~of ~~months~~stock ~~ended~~based ~~March~~compensation ~~31,~~expenses ~~2023~~with respect to ~~$13,407~~research inand development activities. During the three months ended ~~March~~June 3130, 2024. ~~The~~professional ~~reported~~fees ~~allocations~~decreased tofrom ~~research~~$18,875 ~~and~~(2023) ~~development~~to ~~in the amount of~~ $559,~~824~~538. ~~for~~During the three months ended ~~March~~June 3130, ~~2024~~2023 ~~relates~~the toCompany ~~$690~~incurred ~~expended~~additional onlegal ~~supplies~~fees ~~and~~with ~~$55,134~~respect into ~~stock~~the ~~based~~negotiation ~~compensation~~of ~~expense~~certain ~~recognized~~licensing inagreements, ~~the~~patent ~~period~~applications, asprocesses aand ~~result~~know-how ofrelated ~~the~~to ~~vesting~~AS101 ofTellurium ~~stock~~based ~~options~~compounds ~~previously~~with ~~granted~~no tocomparable ~~science~~expenses ~~advisors. In~~in the three months ended ~~March~~June 3130, ~~2023, research~~2024. ~~and~~The ~~development~~Company ~~expenditures~~also ofrecorded ~~$6,820~~a ~~relate~~slight decrease to ~~license~~general ~~fees of $6,250~~ and ~~supplies~~administrative ofexpenses ~~$570. During~~in the comparative three-month ~~months~~periods ~~ended~~from ~~March 31, 2024 professional fees remained relatively constant with fees totaling~~ $2214,~~345~~249 in the three months ended ~~March~~June 3130, 2023, ~~decreasing slightly~~ to $1711,~~143~~251 in the three months ended ~~March~~June 3130, 2024 ~~as a result of a reduction to legal fees incurred~~.

Other Income (Expense)

Other ~~income~~ expense in the three months ended ~~March~~June 3130, 2024 was $4330,~~758~~013, which included a ~~gain~~loss ofon ~~$58,382~~extinguishment ~~as a result~~ of ~~the~~certain ~~change~~debt ~~in fair market value~~ of ~~derivative~~ ~~liabilities~~$29,780, ~~offset by~~ interest expense of $1413,624 which is comprised of accretion of convertible notes of $76,~~516~~508, and accrued interest on convertible notes payable of $7,~~108~~116, offset by a gain of $13,391 as a result of the change in fair market value of derivative liabilities. Other ~~expense~~income in the three months ended ~~March~~June 3130, 2023, was $3110,~~516~~672, which included a ~~loss~~gain of $14104,~~039~~005 as a result of the change in fair market value of derivative liabilities, ~~and~~offset by interest expense of $1759,~~477,~~401 which is comprised of accretion of convertible notes of $119,~~377~~397, interest penalties on certain convertible notes of $38,000 and accrued interest on convertible notes payable of $612,~~100.~~004 and a loss on extinguishment of certain debt of $33,932.

24Six ~~Table~~Months ofEnded ~~Contents~~June 30, 2024 and June 30, 2023

Revenue

We have not generated any revenue since our inception and do not expect to generate any revenue from the sale of products in the near future.

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Net Loss

We had a net loss of $151,882 in the six months ended June 30, 2024, compared to $81,204 in the six months ended June 30, 2023, as follows:

	June 30,
	2024			2023

Net sales	$	-		$	-

Operating expenses:
Research and development expenses		114,288			(2,886	)
Professional fees		26,681			41,220
General and administrative expenses		24,658			22,026
Total operating expenses		165,627			60,360

Income (loss) from operations		(165,627	)		(60,360	)

Other income (expense)
Loss on extinguishment of debt		(29,780	)		(33,932	)
Interest expense		(28,248	)		(76,878	)
Change in fair market value of derivative liabilities		71,773			89,966
Total other expense		13,745			(20,844	)

Net (loss)	$	(151,882	)	$	(81,204	)

Operating Expenses

Total operating expenses for the six months ended June 30, 2024, were $165,627 compared to total operating expenses of $60,360 for the six months ended June 30, 2023. The substantial increase in operating expenses during the six months ended June 30, 2024 is primarily due to an increase in research and development expenses period over period, from a reported gain of $2,886 for the six months ended June 30, 2023 as the Company reversed the prior accrual of certain annual license fees upon the termination of an intellectual property licensing agreement with certain industry partners to expenses of $114,288 comprised of stock based compensation expenses of $113,598 with respect to research and development activities and $690 in lab supplies. Increases in costs for the six months ended June 30, 2024 were offset by a decrease to professional fees from $41,220 in the six months ended June 30, 2023 to $26,681 in the six months ended June 30, 2024. During the six months ended June 30, 2023 the Company incurred additional legal fees with respect to the negotiation of certain licensing agreements, patent applications, processes and know-how related to AS101 Tellurium based compounds with no comparable expenses in the six months ended June 30, 2024. During the six months ended June 30, 2024, there was a slight increase in general and administrative expenses from $22,026 in the six months ended June 30, 2023 to $24,658 in the six months ended June 30, 2024.

Other Expense

Other income in the six months ended June 30, 2024, was $13,745 and included a loss on extinguishment of certain debt of $29,780 and interest expense of $28,248, which is comprised of accretion of convertible notes of $14,024 and accrued interest on convertible notes of $14,224, offset by a gain of $71,773 as a result of the change in fair market value of derivative liabilities, offset by

Other expense in the six months ended June 30, 2023, was $20,844, which included interest expense of $76,878 which is comprised of accretion of convertible notes of $20,774, interest penalties on certain convertible notes of $38,000 and accrued interest on convertible notes payable of $18,104 and a loss on extinguishment of certain debt of $33,932, offset by a gain of $89,966 as a result of the change in fair market value of derivative liabilities.

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Operating Activities

Net cash used inby operating activities was $1931,~~283~~213 for the ~~three~~six months ended ~~March~~June 3130, 2024 compared to $1328,~~581~~924 for the ~~three~~six months ended ~~March~~June 3130, 2023. Net cash used in operating activities for the ~~three~~six months ended ~~March~~June 3130, 2024 was primarily the result of net loss, ~~increased by a non-cash item gain on change in fair market value~~ of ~~derivative liabilities of~~ $58151,~~382~~882, offset by non-cash items ~~accretion~~ ofincluding ~~debt~~a ~~discount~~gain ofas ~~$7,516,~~a ~~noncash~~result ~~stock~~of ~~options~~the ~~issued~~change ~~for consulting services~~ in ~~the~~derivative ~~amount~~liabilities of $471,~~647~~733, ~~and~~stock ~~noncash~~based ~~stock~~compensation ~~options~~expense ~~issued~~related ~~for~~to research and development ~~expenses in the amount~~ of $55113,~~134~~598, ~~and~~stock ~~changes~~based ~~to operating~~compensation ~~assets~~expense ~~and~~issued ~~liabilities,~~for ~~including~~consulting anservices ~~decrease to accounts payable~~ of $79,~~293 and an increase to accounts payable-related parties of $21~~295,~~711.~~ ~~Net Cash used in operating activities for the three months ended March 31, 2023 was primarily the result of net loss, offset by non-cash items including~~ accretion of debt discount of $1114,~~377~~024, and a loss ~~from~~on ~~the~~extinguishment ~~change~~of indebt ~~derivative liabilities~~ of $1429,~~039~~780, ~~and~~as well as changes to operating assets and liabilities, including an increase to accounts payable of $~~17,856~~851 and an increase to accounts payable-related parties of $1124,~~605~~894.

Net cash used in operating activities for the six months ended June 30, 2023 was primarily the result of net loss of $81,204, offset by non-cash items, including accretion of debt discount of $20,774, noncash interest penalties of $38,000, a loss on the extinguishment of debt of $33,932, and a gain as a result of the change in derivative liabilities of $89,966, as well as changes to operating assets and liabilities, including an increase to accounts payable of $18,758 and an increase to accounts payable-related parties of $30,782.

Investing Activities

There were no investing activities during the ~~three~~six months ended ~~March~~June 3130, 2024, and 2023.

Financing Activities

Net cash provided by financing activities was $2242,500 for the ~~three~~six months ended ~~March~~June 3130, 2024, compared to $1532,~~000~~500 for the ~~three~~six months ended ~~March~~June 3130, 2023. During the ~~three~~six months ended ~~March~~June 3130, 2024, the Company received ~~net proceeds of~~ $2242,500 in proceeds from a related ~~parties~~party in the form of unsecured advances. During the ~~three~~six months ended ~~March~~June 3130, 2023, the Company received ~~$15,000~~net in proceeds of $32,500 from a related ~~parties~~party in the form of unsecured advances.

Liquidity and Capital Resources

As of ~~March~~June 3130, 2024, we had cash of $311,~~637~~707. We are in the early stage of development and have experienced net losses to date and have not generated revenue from operations, which raises substantial doubt about our ability to continue as a going concern. There are a number of conditions that we must satisfy before we will be able to commercialize potential products and generate revenue, including successful development of product candidates, which includes clinical trials, FDA approval, demonstration of effectiveness sufficient to generate commercial orders by customers, establishing production capabilities as well as effective marketing and sales capabilities for our product. We do not currently have sufficient resources to accomplish any of these conditions necessary for us to generate revenue and expect to incur increasing operating expenses. We will require substantial additional funds for operations, the service of debt and to fund our business objectives. There can be no assurance that financing, whether debt or equity, will be available to us in the amount required at any particular time or for any particular period or, if available, that it can be obtained on terms favorable to us. If additional funds are raised by the issuance of equity securities, such as through the issuance and exercise of warrants, then existing stockholders will experience dilution of their ownership interest. If additional funds are raised by the issuance of debt or other equity instruments, we may be subject to certain limitations in our operations, and the issuance of such securities may have rights senior to those of the then existing stockholders. We currently have no agreements, arrangements or understandings with any person or entity to obtain funds through bank loans, lines of credit or any other sources.

We continue exploring sources of debt and equity financing as well as available grants. We are currently exploring and are in discussions for a potential strategic alliance in the biotechnology field which could advance our MSCs and neurodegenerative research. as well as treat other indications. There can be no assurance that we will reach agreement on this alliance or that the necessary financing will be available to implement the research under the alliance. In such event, we may explore other relationships with other third parties to develop or commercialize products or technologies that we have not previously sought to develop or commercialize, decide to exit our existing business, cease operations altogether or pursue an acquisition of our company. However, without additional financing, we do not believe our resources will be sufficient to meet our operating and capital needs beyond the second quarter of 2024.

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Offering

The Company filed a registration statement on Form S-1 with the SEC on January 11, 2022, to offer and sell up to 2,500,000 shares of common stock in a self-underwritten primary offering at a fixed price of $0.70 per share which was declared effective on ~~January~~March 1121, 2022. ToThe ~~date,~~offering noterminated ~~shares~~two ~~have~~years ~~been~~from ~~sold~~effective ~~and~~date ~~there~~or ~~can~~March be21, no2024, ~~assurance~~and ~~that~~no ~~the~~shares ~~Company~~were ~~will~~sold beunder ~~successful in selling any of~~ the ~~shares being offered~~Offering.

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Going Concern

Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. Our report from our independent registered public accounting firm for the fiscal year ended December 31, 2023 includes an explanatory paragraph stating the Company has recurring losses and limited operations which raise substantial doubt about its ability to continue as a going concern. If the Company is unable to obtain adequate capital, the Company may be required to reduce the scope, delay, or eliminate some or all of its planned operations. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Critical Accounting Estimates

The financial statements are prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, costs and expenses and related disclosures. We base our estimates on historical experience, as appropriate, and on various other assumptions that we believe are reasonable under the circumstances. Changes in the accounting estimates are reasonably likely to occur from period to period. Accordingly, actual results could differ significantly from the estimates made by our management. We evaluate our estimates and assumptions on an ongoing basis. To the extent that there are material differences between these estimates and actual results, our future financial statement presentation, financial condition, results of operations and cash flows will be affected. Our significant accounting policies are more fully discussed in Note 2 to our unaudited condensed financial statements contained herein.

Estimates

Stock Based Compensation and Other Share-Based Payments: The Company records stock-based compensation in accordance with ASC 718, Compensation - Stock Compensation, using the fair value method of the award on grant date. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for based on the fair value of the equity instruments issued. The expense attributable to the Company’s directors is recognized over the period the amounts are earned and vested, and the expense attributable to the Company’s non-employees is recognized when vested.

Recent Accounting Pronouncements

In November 2023, the FASB issued Accounting Standards Update 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires incremental disclosures related to a public entity’s reportable segments. Required disclosures include, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount for other segment items (which is the difference between segment revenue less segment expenses and less segment profit or loss) and a description of its composition, the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. The standard also permits disclosure of more than one measure of segment profit. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Company does not believe the adoption of ASU 2023-07 will have any impact on our financial statements.

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In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate Related Disclosures for Investors, which requires registrants to disclose climate-related information in registration statements and annual reports. The new rules would be effective for annual reporting periods beginning in fiscal year 2025. However, in April 2024, the SEC exercised its discretion to stay these rules pending the completion of judicial review of certain consolidated petitions with the United States Court of Appeals for the Eighth Circuit in connection with these rules. We are evaluating the impact the adoption of this rule, if any, may have on our financial statements.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company and are not required to provide this information.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, as of ~~March~~June 3130, 2024, we conducted an evaluation of our disclosure controls and procedures, as such term is defined under Rule 13a-15(e) and Rule 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended. Based on this evaluation, our principal executive officer and principal financial officer have concluded that, based on the material weaknesses discussed below, our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed by us in reports filed or submitted under the Securities Exchange Act were recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Act Commission’s rules and forms and that our disclosure controls are not effectively designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act is accumulated and communicated to management, including our principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

Our internal controls and procedures are not effective for the following reasons: (i) there is an inadequate segregation of duties consistent with control objectives as management is comprised of only two persons, one of which is the Company’s principal executive officer and principal financial officer and, (ii) the Company does not have a formal audit committee with a financial expert, and thus the Company lacks the board oversight role within the financial reporting process.

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In order to mitigate the foregoing material weakness, we have engaged an outside accounting consultant with significant experience in the preparation of financial statements in conformity with GAAP to assist us in the preparation of our financial statements to ensure that these financial statements are prepared in conformity with GAAP. We will continue to monitor the effectiveness of this action and make any changes that our management deems appropriate.

We would need to hire additional staff to provide greater segregation of duties. Currently, it is not feasible to hire additional staff to obtain optimal segregation of duties. Management will continue to reassess this matter to determine whether improvement in segregation of duty is feasible. In addition, we would need to expand our board to include independent members.

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Going forward, we intend to evaluate our processes and procedures and, where practicable and resources permit, implement changes in order to have more effective controls over financial reporting.

Changes in Internal Control over Financial Reporting

During the period covered by this report, there were no changes in our internal controls over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

There are no pending legal proceedings to which the Company is a party or in which any director, officer or affiliate of the Company, any owner of record or beneficially of more than 5% of any class of voting securities of the Company, or security holder is a party adverse to the Company or has a material interest adverse to the Company. The Company’s property is not the subject of any pending legal proceedings.

ITEM 1A. RISK FACTORS

The Company is a smaller reporting company and is not required to provide this information.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

~~There~~On ~~were~~June no15, ~~sales~~2024, the Company approved the issuance of ~~equity~~300,000 shares ~~securities~~of ~~during~~its ~~the~~common ~~period~~stock ~~covered~~to byQuick ~~this~~Capital ~~Report~~LLC ~~that~~with ~~were~~a ~~not~~value ~~registered~~of ~~under~~$55,644 related ~~the~~to ~~Securities~~a ~~Act~~loan ~~and~~amendment ~~were~~(Please ~~not~~refer ~~previously~~to ~~reported~~Note 5 of the Financial Statements contained in athis ~~Quarterly~~report). ~~Report~~The onshares ~~Form~~were ~~10-Q~~valued oras aof ~~Current~~the ~~Report~~agreement ondate ~~Form~~and ~~8-K~~administratively ~~filed~~issued bysubsequent ~~the~~to ~~Company~~June 30, 2024.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. MINE SAFETY DISCLOSURES

Not Applicable

ITEM 5. OTHER INFORMATION

None

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ITEM 6. EXHIBITS

Exhibit Number		Exhibit
31		Certification of the Principal Executive Officer and Principal Financial Officer required by Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32		Certification of the Chief Executive Officer and Chief Financial Officer (Principal Executive Officer and Principal Financial Officer) pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350)
101		Inline XBRL (Extensible Business Reporting Language). The following materials from this Quarterly Report on Form 10-Q for the period ended ~~March~~June 3130, 2024, are formatted in Inline XBRL: (i) condensed balance sheets of Qrons, Inc., (ii) condensed statements of operations of Qrons, Inc., (iii) condensed statements of operations and comprehensive income/(loss) of Qrons, Inc., (iv) condensed statements of changes in equity of Qrons, Inc., (v) consolidated statements of cash flows of Qrons, Inc. and (vi) notes to condensed financial statements of Qrons, Inc. The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document.
104		Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	QRONS INC.
Date: May 14, 2024	By:	/s/ Jonah Meer
Date: August 15, 2024	By:	/s/ Jonah Meer
		Jonah Meer
		Chief Executive Officer and Chief Financial Officer(Principal Executive Officer and Principal Financialand Accounting Officer)

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Filing Compare · Qrons Inc.