Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.7.0.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]    
Net sales
Operating expenses:    
Research and development 257,803 241,637
General and administrative 2,873,185 5,174,515
Impairment charges 1,387,100
Total operating expenses 3,130,988 6,803,252
Loss from operations (3,130,988) (6,803,252)
Other income (expense):    
Other income 52,898
Interest expense (including $232,076 and $16,140 to related parties) (340,580) (125,810)
Interest expense - amortization of debt discount (398,594) (26,166)
Fair value of warrants and conversion feature granted on debt extensions (455,975)
Total other expense, net (1,142,251) (151,976)
Loss before income tax provision (4,273,239) (6,955,228)
Income tax provision 866
Net loss $ (4,274,105) $ (6,955,228)
Earnings per share - basic and diluted $ (0.05) $ (0.11)
Weighted average number of common shares outstanding - basic and diluted 79,602,170 62,707,874