Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets, (March 31, 2019 Unaudited)

v3.19.1
Condensed Consolidated Balance Sheets, (March 31, 2019 Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 2,662,390 $ 1,805,627
Inventory 78,473 9,797
Prepaid expenses 26,337 52,105
Accounts receivable 13,000 0
Loan receivable 5,000 5,000
Marketable securities 175,000 150,000
Total current assets 2,960,200 2,022,529
Property, Plant and Equipment, Net 4,754 5,593
Other Assets:    
Acquired intangible asset - intellectual property licensing agreement, net 50,534 53,692
Security deposits 2,488 7,440
Total other assets 53,022 61,132
TOTAL ASSETS 3,017,976 2,089,254
Current liabilities:    
Accounts payable and accrued liabilities 708,540 217,728
Due to shareholder 5,000 412,500
Due to First Insurance Funding 0 23,280
Due to related party 1,649,832 1,649,832
Promissory note - related party (including accrued interest of $147,036 and $140,526 respectively) 1,027,036 1,020,526
Total current liabilities 3,390,408 3,323,866
Long-term liabilities:    
Total long-term liabilities 4,914,252 4,847,207
TOTAL LIABILITIES 8,304,660 8,171,073
STOCKHOLDERS' DEFICIT    
Common Stock, Value, Issued 6,107 5,958
Additional paid in capital 25,993,771 22,863,608
Common stock, to be issued 48,500 41,000
Accumulated deficit (31,335,162) (28,992,485)
TOTAL STOCKHOLDERS' DEFICIT (5,286,684) (6,081,819)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 3,017,976 2,089,254
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 [1] $ 4,914,252 $ 4,847,207
[1] See Note 12.