Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.10.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 515,171 $ 2,057,843
Inventory 6,099 8,765
Prepaid expenses 91,626 40,986
Loan receivable 5,000 5,000
Total current assets 617,896 2,112,594
Property, Plant and Equipment, Net 7,271 8,949
Other Assets:    
Acquired intangible asset - intellectual property licensing agreement, net 53,692 63,167
Security deposits 7,440 7,440
Total other assets 61,132 70,607
TOTAL ASSETS 686,299 2,192,150
Current liabilities:    
Accounts payable and accrued liabilities 372,714 441,753
Due to shareholder 12,500 5,000
Due to first insurance funding 69,841 22,807
Due to related party 1,605,520 1,605,520
Promissory note - related party (including accrued interest of $127,218 and $114,126respectively) 1,007,218 994,126
Convertible note payable (including accrued interest of $21,082 and $90,487 respectively) net of unamortized debt discount of $275,607 and $714,573, respectively (see note 10) [1] 3,821,905 4,635,914
Total current liabilities 6,889,698 7,705,120
Long-term liabilities:    
Total long-term liabilities 764,018 771,523
TOTAL LIABILITIES 7,653,716 8,476,643
STOCKHOLDERS' DEFICIT    
Common Stock, Value, Issued 5,755 5,457
Additional paid in capital 19,544,305 15,923,789
Common stock, to be issued 162,320 24,000
Accumulated deficit (26,679,897) (22,237,839)
TOTAL STOCKHOLDERS' DEFICIT (6,967,417) (6,284,493)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 686,299 2,192,150
Series B Convertible Preferred Stock    
STOCKHOLDERS' DEFICIT    
Preferred Stock, Value, Issued 50 50
Series C Convertible Preferred Stock    
STOCKHOLDERS' DEFICIT    
Preferred Stock, Value, Issued 50 50
Convertible note payable 2    
Long-term liabilities:    
Notes Payable, Noncurrent $ 764,018 $ 771,523
[1] see note 10