Financials

v3.19.1
Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current Assets    
Cash $ 24,888 $ 25,745
Total Current Assets 24,888 25,745
Right to use ground lease, net of accumulated amortization of $11,000 and $8,000, respectively 25,000 28,000
Total Assets 49,888 53,745
Current Liabilities    
Accounts payable 1,064,165 1,149,467
Accrued liabilities 6,376,058 6,071,160
Convertible debt, net of unamortized discounts – related party 4,759,728 4,520,404
Notes payable – related party 378,600 86,600
Customer deposit – related party 100,000 100,000
Convertible notes payable, net of unamortized discount 301,356 0
Notes payable, net of unamortized discounts 813,185 903,025
Total Current Liabilities 13,793,092 12,830,656
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 1,997,404 1,872,788
Total Liabilities 15,790,496 14,703,444
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 174,427,854 and 174,427,854 shares issued and outstanding, respectively 1,745 1,745
Additional paid-in capital 259,371,212 259,320,220
Accumulated deficit (275,113,565) (273,971,664)
Total Stockholders’ Deficit (15,740,608) (14,649,699)
Total Liabilities and Stockholders’ Deficit $ 49,888 $ 53,745

Source

v3.19.1
Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating Expenses:    
General and administrative $ 377,494 $ 397,574
Research and development 3,000 50,201
Consulting services 4,498 10,025
Gain on sale of assets 0 (18,300)
Loss from Operations (384,992) (439,500)
Interest expense 637,909 941,701
Debt prepayment and default expense 119,000 0
Total Other Expenses (756,909) (941,701)
Net Loss $ (1,141,901) $ (1,381,201)
Weighted average shares outstanding – basic and diluted (in Shares) 174,427,854 148,972,419
Net loss per share basic and diluted (in Dollars per share) $ (0.01) $ (0.01)

Source

v3.19.1
Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (1,141,901) $ (1,381,201)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 306,448 487,044
Gain on sale of assets 0 (18,300)
Amortization of lease asset 3,000 0
Debt extension expense 55,000 0
Increase in accounts payable (85,302) (696,646)
Increase in accrued expenses 304,898 404,094
Net Cash Used in Operating Activities (557,857) (1,205,009)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from the sale of fixed assets 0 18,300
Net Cash Provided by Operating Activities 0 18,300
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on convertible debt, net of original issue discounts – related party 125,000 1,242,500
Borrowings on related party debt 292,000 0
Borrowings on debt, net of original issue discounts 300,000 0
Payments on notes payable (160,000) 0
Net Cash Provided by Financing Activities 557,000 1,242,500
NET CHANGE IN CASH AND CASH EQUIVALENTS (857) 55,791
CASH AND CASH EQUIVALENTS - beginning of period 25,745 11,773
CASH AND CASH EQUIVALENTS - end of period 24,888 67,564
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 $ 50,992 $ 1,175,584

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