Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash $ 1,992,671 $ 892,814
Prepaid expenses 161,672 364,822
Short-term receivable 150,000 0
Total Current Assets 2,304,343 1,257,636
Long Term Receivable 0 150,000
Property and Equipment, Net 94,449 97,590
Deposits 2,751 2,751
Total Assets 2,401,543 1,507,977
Current Liabilities    
Interest payable 69,222 69,222
Accounts payable 220,700 225,725
Accrued liabilities 45,000 459,800
Notes payable, current portion 82,329 126,086
Short-term note payable, net of debt discount 0 970,240
Total Current Liabilities 417,251 1,851,073
Long-Term Liabilities    
Notes payable, net of current portion 87,814 103,742
Deferred rent 1,179 1,179
Total Long-Term Liabilities 88,993 404,921
Total Liabilities 506,244 1,955,994
Stockholders' Equity (Deficit)    
Preferred stock - $.001 par value: 500,000 shares authorized, 22,139 shares issued, 17,993 shares outstanding at March 31, 2017 (unaudited), no shares issued and outstanding at December 31, 2016 18 0
Common stock - $.001 par value: 49,500,000 shares authorized, 17,441,351 and 14,855,181 shares issued at March 31, 2017 (unaudited) and December 31, 2016, respectively, 17,441,351 and 14,855,181 shares outstanding at March 31, 2017 (unaudited) and December 31, 2016, respectively 17,442 14,855
Additional paid-in capital 30,477,753 25,898,054
Accumulated deficit (28,599,914) (26,360,926)
Total Stockholders' Equity (Deficit) 1,895,299 (448,017)
Total Liabilities and Stockholders' Equity (Deficit) $ 2,401,543 $ 1,507,977