Financials

v3.7.0.1
Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets    
Cash $ 67,067 $ 100,444
Total Current Assets 67,067 100,444
Total Assets 67,067 100,444
Current Liabilities    
Accounts payable 1,547,738 1,956,743
Accrued liabilities 3,530,761 3,878,460
Notes payable 463,185 463,185
Notes payable – related party 18,090 18,050
Convertible debt, net of unamortized discounts 0 1,397,222
Derivative liabilities 0 18,028,611
Total Current Liabilities 5,559,774 25,742,271
Long-Term Liabilities    
Convertible debt, net of unamortized discounts 5,520,214 5,253,262
Total Liabilities 11,079,988 30,995,533
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 140,302,182 and 101,068,451 shares issued and outstanding, respectively 1,403 1,011
Additional paid-in capital 253,201,617 235,702,112
Accumulated deficit (264,215,941) (266,598,212)
Total Stockholders’ Deficit (11,012,921) (30,895,089)
Total Liabilities and Stockholders’ Deficit $ 67,067 $ 100,444

Source

v3.7.0.1
Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Operating Expenses:        
General and administrative $ 480,417 $ 1,538,626 $ 919,140 $ 2,410,565
Research and development 177,300 603,255 177,300 1,495,348
Consulting services 6,505 11,803 10,583 4,387,101
Gain on settlement of accounts payable 0 0 (51,835) 0
Loss from Operations (664,222) (2,153,684) (1,055,188) (8,293,014)
Other Income (Expenses):        
Interest expense (689,128) (564,579) (1,134,549) (955,316)
Debt default, standstill, settlement and transfer expenses (179,830) (37,750) (253,679) (1,506,806)
Gain (loss) on change in fair value of derivative liabilities (3,962,645) 12,150,913 4,825,687 34,124,945
Total Other Income (Expenses) (4,831,603) 11,548,584 3,437,459 31,662,823
Net Income (Loss) $ (5,495,825) $ 9,394,900 $ 2,382,271 $ 23,369,809
Net income (loss) per share - basic (in Dollars per share) $ (0.04) $ 0.13 $ 0.02 $ 0.33
Weighted average shares outstanding - basic (in Shares) 125,641,642 72,271,121 111,394,174 71,141,149
Net loss per share - diluted (in Dollars per share) $ (0.04) $ (0.01) $ (0.01) $ (0.06)
Weighted average shares outstanding - diluted (in Shares) 125,641,642 176,078,292 233,288,237 175,035,795

Source

v3.7.0.1
Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 2,382,271 $ 23,369,809
Adjustment to reconcile net income to net cash used in operating activities:    
Amortization of debt discounts 629,353 517,227
Shares issued for debt transfer fees 127,400 0
Shares issued for services 0 6,346,711
Gain on change in fair value of derivative liabilities (4,825,687) (34,124,945)
Loss on settlement of related debt 27,430 1,442,308
Gain on settlement of account payable (51,835) 0
Debt issued for default and standstill fees 98,849 77,492
Changes in operating assets and liabilities:    
(Decrease) increase in accounts payable (357,170) 575,216
Increase in accrued expenses 645,059 878
Net Cash Used in Operating Activities (1,324,330) (1,795,304)
CASH FLOWS FROM INVESTING ACTIVITIES: 0 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts 1,215,943 1,810,000
Borrowings on related party debt 130,010 26,000
Borrowings on debt, net of original issue discounts 0 100,000
Payments on related party debt (30,000) (1,000)
Payments on convertible debt (25,000) (246,641)
Net Cash Provided by Financing Activities 1,290,953 1,688,359
NET CHANGE IN CASH AND CASH EQUIVALENTS (33,377) (106,945)
CASH AND CASH EQUIVALENTS - beginning of period 100,444 123,066
CASH AND CASH EQUIVALENTS - end of period 67,067 16,121
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 37,499
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Noncash Activity, Derivative Liabilities 1,105,486 1,348,721
Common stock issued for convertible debt and interest 1,936,687 0
Common stock issued for settlement of related party debt 99,970 0
Reclassification of derivatives to equity upon conversion 1,655,656 0
Reclassification of derivatives to equity upon release from tainting 12,652,754 0
Accrued cash restructuring fees 54,237 42,000
Accrued Wages [Member]    
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Debt converted to common stock $ 1,000,000 $ 500,000

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