Financials

v3.19.3
Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets    
Cash $ 2,502 $ 25,745
Total Current Assets 2,502 25,745
Right to use ground lease, net of accumulated amortization of $17,000 and $8,000, respectively 19,000 28,000
Total Assets 21,502 53,745
Current Liabilities    
Accounts payable 1,034,623 1,149,467
Accrued liabilities 7,196,719 6,071,160
Convertible debt, net of unamortized discounts – related party 5,758,344 4,520,404
Notes payable – related party 632,600 86,600
Customer deposit – related party 100,000 100,000
Convertible notes payable, net of unamortized discount 895,904 0
Notes payable, net of unamortized discounts 413,185 903,025
Total Current Liabilities 16,031,375 12,830,656
Long-Term Liabilities    
Convertible debt, net of unamortized discounts – related party 1,545,445 1,872,788
Total Liabilities 17,576,820 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 260,112,706 259,320,220
Accumulated deficit (277,669,839) (273,971,664)
Total Stockholders’ Deficit (17,555,318) (14,649,699)
Total Liabilities and Stockholders’ Deficit $ 21,502 $ 53,745

Source

v3.19.3
Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Operating Expenses:        
General and administrative $ 303,110 $ 342,339 $ 1,490,023 $ 1,486,993
Research and development 53,000 8,019 92,182 232,743
Consulting services 2,403 3,972 24,774 54,542
Gain on sale of assets 0 0 0 (18,300)
Gain on settlement of accounts payable 0 0 0 (320,669)
Loss from Operations (358,513) (354,330) (1,606,979) (1,435,309)
Interest expense (665,130) (717,354) (1,932,196) (2,055,522)
Debt prepayment and default expense (20,000) 0 (159,000) 0
Total Other Expenses (685,130) (717,354) (2,091,196) (2,055,522)
Net Loss $ (1,043,643) $ (1,071,684) $ (3,698,175) $ (3,490,831)
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) 180,124,392 157,147,854 176,957,325 152,975,664

Source

v3.19.3
Statements of Cash Flows - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (3,698,175) $ (3,490,831)
Adjustment to reconcile net loss to net cash used in operating activities:    
Amortization of debt discounts 919,070 1,075,998
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 63,638 33,300
Amortization of lease asset 9,000 5,000
Debt extension expense 55,000 0
Changes in operating assets and liabilities:    
Increase in accounts payable (114,844) (668,364)
Increase in accrued expenses 1,125,559 1,126,736
Net Cash Used in Operating Activities (1,199,952) (1,877,214)
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 700,000 150,000
Payments on convertible debt (374,171) 0
Borrowings on convertible debt, net of original issue discounts – related party 329,880 1,692,300
Payments on convertible debt – related party (25,000) 0
Borrowings on debt, net of original issue discounts 561,000 36,600
Payments on notes payable – related party (15,000) 0
Borrowings on notes payable 0 7,500
Net Cash Provided by Financing Activities 1,176,709 1,886,400
NET CHANGE IN CASH AND CASH EQUIVALENTS (23,243) (8,514)
CASH AND CASH EQUIVALENTS - beginning of period 25,745 11,773
CASH AND CASH EQUIVALENTS - end of period 2,502 3,259
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 138,118 1,343,488
Common stock issued for conversion of debt – related party $ 150,000 $ 280,507

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