Financials

v3.5.0.2
Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets    
Cash $ 1,112 $ 123,066
Total Current Assets 1,112 123,066
Total Assets 1,112 123,066
Current Liabilities    
Accounts payable 1,785,676 1,285,724
Accrued liabilities 3,556,445 3,708,017
Debt, net of unamortized discounts 515,185 413,185
Notes payable – related party 31,450 0
Convertible debt, net of unamortized discounts 1,205,194 1,131,873
Derivative liabilities 13,354,786 70,004,318
Total Current Liabilities 20,448,736 76,543,117
Long-Term Liabilities    
Convertible debt, net of unamortized discounts 5,010,746 4,473,414
Total Liabilities 25,459,482 81,016,531
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 150,000,000 shares authorized, 82,888,738 and 60,577,714 shares issued and outstanding, respectively 830 606
Additional paid-in capital 232,171,409 222,260,166
Accumulated deficit (257,630,609) (303,154,237)
Total Stockholders' Deficit (25,458,370) (80,893,465)
Total Liabilities and Stockholders' Deficit $ 1,112 $ 123,066

Source

v3.5.0.2
Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Operating Expenses:        
General and administrative $ 896,724 $ 239,485 $ 3,283,321 $ 982,360
Research and development 0 0 1,495,348 0
Consulting services 0 2,073,806 4,411,069 3,082,251
Loss from Operations (896,724) (2,313,291) (9,189,738) (4,064,611)
Other Income (Expenses):        
Interest expense (855,379) (392,796) (1,810,695) (1,069,903)
Debt default and standstill expenses (166,394) 0 (1,673,200) 0
Gain (loss) on change in fair value of derivative liabilities 24,072,316 (42,244,917) 58,197,261 (50,896,732)
Total Other Income (Expenses) 23,050,543 (42,637,713) 54,713,366 (51,966,635)
Net Income (Loss) $ 22,153,819 $ (44,951,004) $ 45,523,628 $ (56,031,246)
Net income (loss) per share - basic (in Dollars per share) $ 0.28 $ (0.79) $ 0.62 $ (1.08)
Weighted average shares outstanding - basic (in Shares) 79,417,299 56,643,577 73,920,002 52,045,312
Net loss per share - diluted (in Dollars per share) $ (0.01) $ (0.79) $ (0.07) $ (1.08)
Weighted average shares outstanding - diluted (in Shares) 179,630,437 56,643,577 182,046,744 52,045,312

Source

v3.5.0.2
Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 45,523,628 $ (56,031,246)
Adjustment to reconcile net income (loss) to net cash used in operating activities:    
Amortization of debt discounts 1,142,865 743,656
Loan default and standstill fees added to loan principal 77,492 326,244
Common stock issued for services 6,927,686 2,872,156
(Gain) loss on change in fair value of derivative liabilities (58,197,261) 50,896,732
Common stock issued for standstill fees 1,608,679 0
Changes in operating assets and liabilities:    
Increase in accounts payable 499,952 111,616
Increase in accrued expenses 387,843 442,262
Net Cash Used in Operating Activities (2,029,116) (638,580)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for construction in-process 0 (1,370,370)
Net Cash Used in Investing Activities 0 (1,370,370)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts 2,053,603 2,989,000
Borrowings on debt, net of original issue discounts 100,000 0
Borrowings on related party debt 32,450 50,000
Payments on related party debt (1,000) (47,200)
Payments on convertible debt (277,891) (879,303)
Net Cash Provided by Financing Activities 1,907,162 2,112,497
NET CHANGE IN CASH AND CASH EQUIVALENTS (121,954) 103,547
CASH AND CASH EQUIVALENTS - beginning of period 123,066 1,130
CASH AND CASH EQUIVALENTS - end of period 1,112 104,677
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 37,499 25,752
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt discounts due to derivative liabilities 1,975,986 2,970,258
Accrued interest transferred to debt 75,000 0
Derivative liability settled to additional paid-in capital 428,257 0
Accrued cash structuring fees 54,180 0
Common shares cancelled and reissued to third party 4 0
Interest expense capitalized to construction in progress 0 172,204
Common stock issued with debt 0 97,375
Accrued Wages [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt converted to common stock 500,000 0
Convertible Note Principal and Interest [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt converted to common stock $ 446,845 $ 50,000

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