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 $ 16,762 $ 103,019
Accounts receivable 8,468
Prepaid expenses 10,871 65,922
Total current assets 36,101 168,941
Property and equipment, net 52,066 70,873
Other assets 16,036
Total assets 104,203 239,814
Current liabilities:    
Accounts payable and accrued expenses 431,650 355,694
Accrued interest (including $56,628 and $16,140 payable to related parties) 118,137 67,860
Accrued officers’ salary 200,028 82,458
Notes payable, net of discount of $48,942 and $0, respectively 177,358 125,000
Notes payable - related party 1,964,985
Convertible note payable 680,268 600,000
Total current liabilities 3,572,426 1,231,012
Notes payable - related party, net of discount $0 and $398,594, respectively 1,351,192
Total liabilities 3,572,426 2,582,204
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, 94,661,566 and 63,859,000 shares issued and outstanding as of December 31, 2016 and 2015, respectively 9,465 6,386
Additional paid in capital 17,815,732 14,650,519
Stock subscription (20,020)
Accumulated deficit (21,273,400) (16,999,295)
Total stockholders’ deficit (3,468,223) (2,342,390)
Total liabilities and stockholders’ deficit $ 104,203 $ 239,814