Financials

v3.8.0.1
Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets    
Cash $ 67,564 $ 11,773
Total Current Assets 67,564 11,773
Property, plant and equipment, net of accumulated depreciation of $1,019 and $1,019, respectively 0 0
Total Assets 67,564 11,773
Current Liabilities    
Accounts payable 1,571,861 2,268,507
Accrued liabilities 4,628,167 4,224,073
Notes payable 413,185 413,185
Notes payable – related party 50,000 50,000
Customer deposits – related party 100,000 100,000
Convertible debt, net of unamortized discounts – related party 5,170,600 4,551,227
Total Current Liabilities 11,933,813 11,606,992
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 1,428,145 1,493,558
Total Liabilities 13,361,958 13,100,550
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 148,972,419 and 148,972,419 shares issued and outstanding, respectively 1,489 1,489
Additional paid-in capital 256,497,282 255,321,698
Accumulated deficit (269,793,165) (268,411,964)
Total Stockholders’ Deficit (13,294,394) (13,088,777)
Total Liabilities and Stockholders’ Deficit $ 67,564 $ 11,773

Source

v3.8.0.1
Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Expenses:    
General and administrative $ 397,574 $ 438,713
Research and development 50,201 0
Consulting services 10,025 4,088
Gain on sale of assets (18,300) 0
Loss from Operations (439,500) (442,801)
Other (Expenses) Income:    
Interest expense (941,701) (445,421)
Debt default, standstill, settlement and transfer expenses 0 (22,014)
Gain on change in fair value of derivative liabilities 0 8,788,332
Total Other (Expenses) Income (941,701) 8,320,897
Net (Loss) Income $ (1,381,201) $ 7,878,096
Net (loss) income per share - basic (in Dollars per share) $ (0.01) $ 0.07
Weighted average shares outstanding - basic (in Shares) 148,972,419 105,272,409
Net loss per share - diluted (in Dollars per share) $ (0.01) $ 0.00
Weighted average shares outstanding - diluted (in Shares) 148,972,419 206,510,723

Source

v3.8.0.1
Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ (1,381,201) $ 7,878,096
Adjustment to reconcile net (loss) income to net cash used in operating activities:    
Amortization of debt discounts 487,044 231,717
Gain on sale of assets (18,300) 0
Gain on change in fair value of derivative liabilities 0 (8,788,332)
Loss on settlement of related debt 0 22,014
Decrease in accounts payable (696,646) (166,072)
Increase in accrued expenses 404,094 442,333
Net Cash Used in Operating Activities (1,205,009) (380,244)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of fixed assets 18,300 0
Net Cash Used in Operating Activities 18,300 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts – related party 1,242,500 217,490
Borrowings on related party debt 0 130,010
Payments on related party debt 0 (5,000)
Net Cash Provided by Financing Activities 1,242,500 342,500
NET CHANGE IN CASH AND CASH EQUIVALENTS 55,791 (37,744)
CASH AND CASH EQUIVALENTS - beginning of period 11,773 100,444
CASH AND CASH EQUIVALENTS - end of period 67,564 62,700
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Beneficial conversion feature on convertible debt – related party 1,175,584 0
Noncash Activity, Derivative Liabilities 0 721,178
Common stock issued for conversion of debt 0 763,390
Derivative liabilities recorded as debt discounts 0 150,471
Accrued cash restructuring fees $ 0 $ 10,875

Source