Financials

v3.19.2
Balance Sheets - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current Assets    
Cash $ 5,229 $ 25,745
Total Current Assets 5,229 25,745
Right to use ground lease, net of accumulated amortization of $11,000 and $8,000, respectively 22,000 28,000
Total Assets 27,229 53,745
Current Liabilities    
Accounts payable 1,042,105 1,149,467
Accrued liabilities 6,770,724 6,071,160
Convertible debt, net of unamortized discounts – related party 5,495,487 4,520,404
Notes payable – related party 482,600 86,600
Customer deposit – related party 100,000 100,000
Convertible notes payable, net of unamortized discount 898,884 0
Notes payable, net of unamortized discounts 413,185 903,025
Total Current Liabilities 15,202,985 12,830,656
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 1,545,879 1,872,788
Total Liabilities 16,748,864 14,703,444
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 179,472,218 and 174,427,854 shares issued and outstanding, respectively 1,796 1,745
Additional paid-in capital 259,902,765 259,320,220
Accumulated deficit (276,626,196) (273,971,664)
Total Stockholders’ Deficit (16,721,635) (14,649,699)
Total Liabilities and Stockholders’ Deficit $ 27,229 $ 53,745

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v3.19.2
Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating Expenses:        
General and administrative $ 809,419 $ 747,080 $ 1,186,913 $ 1,144,654
Research and development 36,182 174,523 39,182 224,724
Consulting services 17,873 40,545 22,371 50,570
Gain on sale of assets 0 0 0 (18,300)
Gain on settlement of accounts payable 0 (320,669) 0 (320,669)
Loss from Operations (863,474) (641,479) (1,248,466) (1,080,979)
Interest expense (629,157) (396,467) (1,267,066) (1,338,168)
Debt prepayment and default expense (20,000) 0 (139,000) 0
Total Other Expenses (649,157) (396,467) (1,406,066) (1,338,168)
Net Loss $ (1,512,631) $ (1,037,946) $ (2,654,532) $ (2,419,147)
Net loss per share basic and diluted (in Dollars per share) $ (0.01) $ (0.01) $ (0.02) $ (0.02)
Weighted average shares outstanding – basic and diluted (in Shares) 176,277,454 152,716,878 175,347,545 150,854,992

Source

v3.19.2
Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (2,654,532) $ (2,419,147)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 605,377 724,675
Gain on sale of assets 0 (18,300)
Gain on settlement of accounts payable 0 (320,669)
Common stock issued for officer bonus 440,800 379,916
Common stock issued for consulting 63,637 33,300
Amortization of lease asset 6,000 2,000
Debt extension expense 55,000 0
Changes in operating assets and liabilities:    
Increase in accounts payable (107,362) (604,788)
Increase in accrued expenses 699,564 660,368
Net Cash Used in Operating Activities (891,516) (1,562,645)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Cash paid for lease asset 0 (36,000)
Proceeds from the sale of fixed assets 0 18,300
Net Cash Used in Investing Activities 0 (17,700)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts 550,000 0
Payments on convertible debt (215,000) 0
Borrowings on convertible debt, net of original issue discounts – related party 165,000 1,582,300
Payments on convertible debt – related party (25,000) 0
Borrowings on debt, net of original issue discounts 411,000 1,600
Payments on notes payable – related party (15,000) 0
Net Cash Provided by Financing Activities 871,000 1,583,900
NET CHANGE IN CASH AND CASH EQUIVALENTS (20,516) 3,555
CASH AND CASH EQUIVALENTS - beginning of period 25,745 11,773
CASH AND CASH EQUIVALENTS - end of period 5,229 15,328
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 78,159 1,292,822
Common stock issued for conversion of debt – related party $ 0 $ 280,507

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