Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.10.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 634,000 $ 11,000
Prepaid expenses 83,000 41,000
Accounts receivable 1,000
Total current assets 718,000 52,000
Deferred offering costs 162,000
Property and equipment, net 11,000 31,000
Other assets 7,000 9,000
Total assets 898,000 92,000
Current liabilities:    
Accounts payable and accrued expenses 1,148,000 665,000
Accrued officers' salary 188,000 607,000
Accrued interest (including $41,000 and $99,000 payable to related parties) 46,000 248,000
Note payable 125,000
Notes payable - related parties 112,000 1,965,000
Convertible notes payable, net of discount of $1,082,000 and $675,000, respectively 818,000 1,020,000
Derivative liability 2,576,000 1,251,000
Total current liabilities 4,888,000 5,881,000
Long-term liabilities:    
Notes payable - related parties 1,065,000
Total long-term liabilities 1,065,000
Total liabilities 5,953,000 5,881,000
Stockholders' deficit    
Preferred stock, $0.0001 par value, 15,000,000 shares authorized, none issued or outstanding
Common stock, $0.0001 par value, 200,000,000 shares authorized, 12,055,491 and 7,941,234 shares issued and outstanding as of December 31, 2018 and 2017 1,000 1,000
Additional paid-in capital 35,611,000 22,750,000
Accumulated deficit (40,667,000) (28,540,000)
Total stockholders' deficit (5,055,000) (5,789,000)
Total liabilities and stockholders' deficit $ 898,000 $ 92,000