Transition report pursuant to Rule 13a-10 or 15d-10

CONSOLIDATED BALANCE SHEETS

v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash $ 1,012 $ 265,374
Restricted cash 10,010
Prepaid expenses $ 24,333 7,683
TOTAL CURRENT ASSETS 25,345 283,067
SOFTWARE, PROPERTY AND EQUIPMENT, NET 100,734 52,389
OTHER ASSETS    
Licensing rights in Cyclone, net 113,021 156,771
Total other assets 113,021 156,771
TOTAL ASSETS 239,100 492,227
CURRENT LIABILITIES    
Accounts payable and accrued expenses 541,763 $ 204,270
Debentures-Alpha Capital Anstal 435,750
Derivative liabilities 1,067,989
Related party obligations - Cyclone 150,000 $ 150,000
Capitalized lease obligations-current portion 9,726 12,198
Deferred revenue and license deposits 260,064 260,064
TOTAL CURRENT LIABILITIES $ 2,465,292 626,532
NON CURRENT LIABILITIES    
Capitalized lease obligation-net of current portion 10,165
Total non-current liabilities 10,165
TOTAL LIABILITIES $ 2,465,292 $ 636,697
Redeemable convertible preferred stock - Series A; $0.0001 par value, 1,500 designated Series A, 500 and 0 shares issued and outstanding at December 31, 2015 and 2014, respectively (liquidation preference of $504,028) $ 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, 26,624,227 and 5,232,542 shares issued and outstanding at December 31, 2015 and 2014, respectively $ 2,662 $ 523
Additional paid-in capital 3,106,369 2,163,825
Treasury stock, 212,500 shares, at cost (150,000) (150,000)
Subscription receivable (3,787) (100,000)
Prepaid expenses with common stock - related parties (135,321) (229,459)
Accumulated deficit (5,365,379) (1,829,358)
TOTAL STOCKHOLDERS' DEFICIT (2,545,456) (144,470)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 239,100 $ 492,227