Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 319 $ 1,012
Prepaid expenses 5,418 24,333
TOTAL CURRENT ASSETS 5,737 25,345
SOFTWARE, PROPERTY AND EQUIPMENT, NET 7,226 100,734
OTHER ASSETS    
Licensing rights in Cyclone, net 80,208 113,021
Total other assets 80,208 113,021
TOTAL ASSETS 93,171 239,100
CURRENT LIABILITIES    
Accounts payable and accrued expenses 745,286 541,763
Debentures 165,000 435,750
Derivative liabilities 296,638 1,067,989
Notes payable, net of unamortized debt issuance costs 202,432
Notes payable - related party net of unamortized debt issuance costs 97,220
Related party obligation - Cyclone 150,000
Capitalized lease obligations 1,586 9,726
Deferred revenue and license deposits 310,064 260,064
TOTAL CURRENT LIABILITIES 1,818,226 2,465,292
TOTAL LIABILITIES 1,818,226 2,465,292
Redeemable convertible preferred stock - Series A; $0.0001 par value, 1,500 designated Series A, 600 and 500 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively (liquidation preference of $630,871) 469,992 319,264
STOCKHOLDERS' DEFICIT    
Preferred stock, $0.0001 par value; 5,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.0001 par value, 100,000,000 shares authorized, 29,551,431 and 26,624,227 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively 2,956 2,662
Additional paid-in capital 4,397,728 3,106,369
Treasury stock, 212,500 shares, at cost (150,000)
Subscription receivable (3,787) (3,787)
Prepaid expenses with common stock - related parties (43,333) (135,321)
Accumulated deficit (6,548,611) (5,365,379)
TOTAL STOCKHOLDERS' DEFICIT (2,195,047) (2,545,456)
TOTAL LIABIITIES AND STOCKHOLDERS' DEFICIT $ 93,171 $ 239,100