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

CONSOLIDATED STATEMENT OF OPERATIONS

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CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CONSOLIDATED STATEMENT OF OPERATIONS [Abstract]    
REVENUES $ 20,000
COST OF REVENUES 5,802
Gross profit 14,198
EXPENSES    
Payroll 559,219 $ 71,472
Professional fees 1,134,543 748,975
Research and development 1,423,769 565,431
Selling, general and administrative 281,466 221,824
Total Expenses 3,398,997 1,607,702
LOSS FROM OPERATIONS (3,384,799) (1,607,702)
OTHER INCOME (EXPENSE)    
Interest expense (19,691) $ (4,391)
Change in value of derivative liabilities (131,530)
Total Other Expense (151,221) $ (4,391)
LOSS BEFORE INCOME TAXES $ (3,536,021) $ (1,612,093)
INCOME TAX EXPENSE
NET LOSS $ (3,536,021) $ (1,612,093)
PREFERRED STOCK    
Series A convertible contractual dividends (4,027)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (3,540,048) $ (1,612,093)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS - BASIC $ (0.21) $ (0.47)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS - DILUTED $ (0.21) $ (0.47)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC 16,678,368 3,464,815
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, DILUTED 16,782,118 3,464,815