Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash $ 671,540 $ 3,330
Notes receivable 100,000
Prepaid expenses 8,753
TOTAL CURRENT ASSETS 771,540 12,083
PROPERTY AND EQUIPMENT, NET 620 6,732
OTHER ASSETS    
Licensing rights in Cyclone, net 69,271
Total other assets 69,271
TOTAL ASSETS 772,160 88,086
CURRENT LIABILITIES    
Accounts payable and accrued expenses 67,201 798,444
Debentures 165,000 165,000
Derivative liabilities 213,042
Notes payable 150,000 183,000
Notes payable - related party 107,567
Capitalized lease obligations 1,586
Deferred revenue and license deposits 10,064 310,064
TOTAL CURRENT LIABILITIES 392,265 1,778,703
Convertible bridge notes, at fair value 2,360,000
TOTAL LIABILITIES 2,752,265 1,778,703
Redeemable convertible preferred stock - Series A; $0.0001 par value, 1,500 designated Series A, 600 shares issued and outstanding (liquidation preference of $666,871) 644,639 513,729
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, 48,422,386 and 29,684,191 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 4,842 2,968
Additional paid-in capital 6,063,747 4,659,575
Subscription receivable (3,787) (3,787)
Accumulated deficit (8,689,549) (6,863,102)
TOTAL STOCKHOLDERS’ DEFICIT (2,624,748) (2,204,346)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 772,160 $ 88,086