Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash $ 298,673 $ 3,330
Prepaid expenses 5,833 8,753
TOTAL CURRENT ASSETS 304,506 12,083
PROPERTY AND EQUIPMENT, NET 553 6,732
OTHER ASSETS    
Licensing rights in Cyclone, net 69,271
TOTAL OTHER ASSETS 69,271
TOTAL ASSETS 305,059 88,086
CURRENT LIABILITIES    
Accounts payable and accrued expenses 111,396 798,444
Debentures 165,000 165,000
Deferred revenue and license deposits 10,064 310,064
Notes payable 183,000
Notes payable - related parties 107,567
Derivative liabilities 213,042
Capitalized lease obligations-current portion 1,586
TOTAL CURRENT LIABILITIES 286,460 1,778,703
Convertible bridge notes, at fair value 3,270,000
TOTAL LIABILITIES 3,556,460 1,778,703
Redeemable convertible preferred stock - Series A; $0.0001 par value, 1,500 shares designated Series A, 600 shares issued and outstanding (liquidation preference of $671,836) 670,773 513,729
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, 48,384,009 and 29,645,814 shares issued and outstanding at December 31, 2017 and 2016, respectively 4,838 2,964
Additional paid-in capital 6,046,749 4,659,579
Subscription receivable (3,787) (3,787)
Accumulated deficit (9,969,974) (6,863,102)
TOTAL STOCKHOLDERS’ DEFICIT (3,922,174) (2,204,346)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 305,059 $ 88,086