Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 3,330 $ 1,012
Prepaid expenses 8,753 24,333
TOTAL CURRENT ASSETS 12,083 25,345
SOFTWARE, PROPERTY AND EQUIPMENT, NET 6,732 100,734
OTHER ASSETS    
Licensing rights in Cyclone, net 69,271 113,021
Total other assets 69,271 113,021
TOTAL ASSETS 88,086 239,100
CURRENT LIABILITIES    
Accounts payable and accrued expenses 798,444 541,763
Notes payable 183,000
Notes payable - related parties 107,567
Debentures 165,000 435,750
Derivative liabilities 213,042 1,067,989
Related party obligation - Cyclone 150,000
Capitalized lease obligations-current portion 1,586 9,726
Deferred revenue and license deposits 310,064 260,064
TOTAL CURRENT LIABILITIES 1,778,703 2,465,292
TOTAL LIABILITIES 1,778,703 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 December 31, 2016 and 2015, respectively (liquidation preference of $639,946) 513,729 319,264
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, 29,651,431 and 26,624,227 shares issued and outstanding at December 31, 2016 and 2015, respectively 2,965 2,662
Additional paid-in capital 4,659,578 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 (135,321)
Accumulated deficit (6,863,102) (5,365,379)
TOTAL STOCKHOLDERS' DEFICIT (2,204,346) (2,545,456)
TOTAL LIABIITIES AND STOCKHOLDERS' DEFICIT $ 88,086 $ 239,100