Financials

v3.20.1
Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current Assets    
Cash $ 3,020 $ 92,282
Prepaid Expenses 39,219 39,219
Total Current Assets 42,239 131,501
Right to use ground lease, net of accumulated amortization of $23,000 and $20,000, respectively 13,000 16,000
Total Assets 55,239 147,501
Current Liabilities    
Accounts payable 895,889 1,022,110
Accrued liabilities 8,018,652 7,671,748
Customer deposit – related party 100,000 100,000
Convertible debt, net of unamortized discounts – related party 7,301,496 6,593,459
Notes payable – related party 754,600 754,600
Convertible notes payable, net of unamortized discount 1,833,238 1,396,682
Notes payable 413,185 413,185
Total Current Liabilities 19,317,060 17,951,784
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 775,986 1,068,464
Total Liabilities 20,093,046 19,020,248
Stockholders’ Deficit:    
Common stock, $0.00001 par value; 500,000,000 shares authorized, 181,347,218 and 181,347,218 shares issued and outstanding, respectively 1,815 1,815
Additional paid-in capital 260,131,700 260,127,550
Accumulated deficit (280,171,322) (279,002,112)
Total Stockholders’ Deficit (20,037,807) (18,872,747)
Total Liabilities and Stockholders’ Deficit $ 55,239 $ 147,501

Source

v3.20.1
Statements of Operations - USD ($)
shares in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Expenses:    
General and administrative $ 348,630 $ 377,494
Research and development 69,545 3,000
Consulting services 998 4,498
Gain on settlement of accounts payable (131,539) 0
Loss from Operations (287,634) (384,992)
Interest expense 826,576 637,909
Debt prepayment and default expense 55,000 119,000
Total Other Expenses (881,576) (756,909)
Net Loss $ (1,169,210) $ (1,141,901)
Weighted average shares outstanding – basic and diluted (in Shares) 181,347,218 174,427,854
Net loss per share basic and diluted (in Dollars per share) $ (0.01) $ (0.01)

Source

v3.20.1
Statements of Cash Flows - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (1,169,210) $ (1,141,901)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 436,365 306,448
Gain on settlement of accounts payable (131,539) 0
Amortization of lease asset 3,000 3,000
Debt extension expense 30,000 55,000
Increase in accounts payable 5,318 (85,302)
Increase in accrued expenses 346,904 304,898
Net Cash Used in Operating Activities (479,162) (557,857)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on debt, net of original issue discounts 535,000 0
Payments on convertible debt (150,000) 0
Payments of debt issuance costs (20,000) 0
Borrowings on convertible debt, net of original issue discounts – related party 24,900 125,000
Borrowings on notes payable – related party 0 292,000
Borrowings on related party debt 0 300,000
Payments on notes payable 0 (160,000)
Net Cash Provided by Financing Activities 389,900 557,000
NET CHANGE IN CASH AND CASH EQUIVALENTS (89,262) (857)
CASH AND CASH EQUIVALENTS - beginning of period 92,282 25,745
CASH AND CASH EQUIVALENTS - end of period 3,020 24,888
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 $ 4,150 $ 50,992

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