Financials

v3.22.1
Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current Assets    
Cash $ 127 $ 1,762
Total Current Assets 127 1,762
Right to use ground lease, net of accumulated amortization of $11,000 and $8,000 respectively 25,000 28,000
Total Assets 25,127 29,762
Current Liabilities    
Accounts payable 2,049,772 2,045,767
Accrued liabilities 14,130,980 13,647,445
Customer deposit – related party 100,000 100,000
Convertible debt, net of unamortized discounts – related party 9,787,215 9,738,945
Notes payable – related party 1,675,630 1,518,230
Convertible notes payable, net of unamortized discount 1,123,421 1,019,529
Notes payable 413,185 413,185
Total Current Liabilities 29,280,203 28,483,101
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 70,690 93,927
Total Liabilities 29,350,893 28,577,028
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 414,279,613 and 414,279,613 shares issued and outstanding, respectively 4,143 4,143
Additional paid-in capital 262,260,303 262,260,303
Accumulated deficit (291,590,212) (290,811,712)
Total Stockholders’ Deficit (29,325,766) (28,547,266)
Total Liabilities and Stockholders’ Deficit $ 25,127 $ 29,762

Source

v3.22.1
Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Expenses:    
General and administrative $ 295,445 $ 298,208
Research and development 3,293 3,309
Loss from Operations (298,738) (301,517)
Interest expense (375,870) (599,675)
Debt prepayment and default expense 0 (600)
Change in fair value of share-settled debt (103,892) 29,528
Total Other Expenses (479,762) (570,747)
Net Loss $ (778,500) $ (872,264)
Weighted average shares outstanding – basic and diluted (in Shares) 414,279,613 342,799,992
Net loss per share basic and diluted (in Dollars per share) $ 0 $ 0

Source

v3.22.1
Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (778,500) $ (872,264)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 25,033 256,179
Change in fair value of share-settled debt 103,892 (29,528)
Amortization of lease asset 3,000 3,000
Debt conversion and extension expenses 0 600
Increase in accounts payable 4,005 (19,877)
Increase in accrued expenses 483,535 489,268
Net Cash Used in Operating Activities (159,035) (172,622)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on related party debt 157,400 150,000
Borrowings on convertible debt, net of original issue discounts – related party   18,600
Net Cash Provided by Financing Activities 157,400 168,600
NET CHANGE IN CASH AND CASH EQUIVALENTS (1,635) (4,022)
CASH AND CASH EQUIVALENTS - beginning of period 1,762 4,203
CASH AND CASH EQUIVALENTS - end of period 127 181
SUPPLEMENTAL DISCLOSURES:    
Cash paid for interest 0 0
Cash paid for income taxes 0 0
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Common stock issued for debt conversion 0 182,333
Common shares returned and cancelled $ 0 $ 45

Source