Financials

v3.20.1
Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash $ 92,282 $ 25,745
Prepaid assets 39,219 0
Total Current Assets 131,501 25,745
Property, plant and equipment, net of accumulated depreciation of $1,019 and $1,019, respectively 0 0
Right to use ground lease, net of accumulated amortization of $20,000 and $8,000, respectively 16,000 28,000
Total Assets 147,501 53,745
Current Liabilities    
Accounts payable 1,022,110 1,149,467
Accrued liabilities 7,671,748 6,071,160
Customer deposit – related party 100,000 100,000
Notes payable – related parties 754,600 86,600
Notes payable 413,185 413,185
Convertible debt, net of unamortized discounts 1,396,682 489,840
Convertible debt, net of unamortized discounts – related party 6,593,459 4,520,404
Total Current Liabilities 17,951,784 12,830,656
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 1,068,464 1,872,788
Total Liabilities 19,020,248 14,703,444
Stockholders’ Deficit    
Common stock, $0.00001 par value 500,000,000 shares authorized, 181,347,218 and 174,427,854 shares issued and outstanding, respectively 1,815 1,745
Additional paid-in capital 260,127,550 259,320,220
Accumulated deficit (279,002,112) (273,971,664)
Total Stockholders’ Deficit (18,872,747) (14,649,699)
Total Liabilities and Stockholders’ Deficit $ 147,501 $ 53,745

Source

v3.20.1
Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating Expenses:    
General and administrative $ 1,914,173 $ 2,690,062
Consulting services 27,623 88,349
Gain on sale of assets 0 (18,300)
Gain on settlement of accounts payable 0 (322,133)
Research and development 120,182 307,151
Loss from Operations (2,061,978) (2,745,129)
Other Income (Expenses):    
Interest expense (2,669,079) (2,814,571)
Debt default, standstill, settlement and transfer expenses (299,391) 0
Total Other Income (Expenses) (2,968,470) (2,814,571)
Net (loss) $ (5,030,448) $ (5,559,700)
Net (loss) per share - basic (in Dollars per share) $ (0.03) $ (0.04)
Weighted average common shares outstanding - basic (in Shares) 176,957,325 156,878,353
Net (loss) per share – diluted (in Dollars per share) $ (0.03) $ (0.04)
Weighted average common shares outstanding – diluted (in Shares) 176,957,325 156,878,353

Source

v3.20.1
Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (5,030,448) $ (5,559,700)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 1,273,753 1,546,009
Amortization of lease asset 12,000 8,000
Common stock issued for officer bonus 440,800 514,916
Common stock issued for consulting expense 63,637 33,300
Common stock issued for board of director services 0 8,000
Loan default and standstill fees 188,391 0
Gain on settlement of accounts payable 0 (322,133)
Gain on sale of assets 0 (18,300)
Changes in operating assets and liabilities:    
Increase in prepaid expenses (39,219) 0
Increase in right to use assets 0 (36,000)
Increase in accounts payable (115,284) (796,908)
Increase in accrued expenses 1,600,588 1,847,087
Net Cash Used in Operating Activities (1,605,781) (2,775,728)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of fixed assets 0 18,300
Net Cash Provided by Investing Activities 0 18,300
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on debt, net of original issue discounts 1,432,000 482,500
Payments on notes payable (565,562) 0
Borrowings on related party convertible debt, net of face discounts and lender fees 354,880 2,284,800
Payments on related party convertible debt (25,000) 0
Borrowings on related party debt 641,000 36,600
Payments on related party debt (165,000) (32,500)
Net Cash Provided by Financing Activities 1,672,318 2,771,400
NET CHANGE IN CASH AND CASH EQUIVALENTS 66,537 13,972
CASH AND CASH EQUIVALENTS - beginning of period 25,745 11,773
CASH AND CASH EQUIVALENTS - end of period 92,282 25,745
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 152,963 1,907,655
Common stock issued 150,000 1,534,907
Convertible debt, related party, issued for payment of Company expenses 12,073 0
Notes payable – related party issued for convertible note principal in extension fees payable $ 135,000 $ 0

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