Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 379,151 $ 90,173
Accounts receivable, net of allowance for doubtful accounts of $0 3,345
Prepaid expenses and other current assets 21,000
Total current assets 382,496 111,173
Property Plant and Equipment, net 6,727 1,064
Patents, net 3,853,090 4,500,000
Total assets 4,242,313 4,612,237
Current Liabilities    
Accounts payable 157,388 143,956
Accrued interest 786,098 493,003
Deferred compensation 2,245,757 2,077,082
Short term advances 20,323
Notes payable, net of discounts of $1,833,795 as of December 31, 2018 and $2,624,984 as of December 31, 2017 6,054,403 4,461,160
Notes payable - related party 270,000 270,000
Derivative liability 4,426,026 5,939,600
Current portion of long term loan 4,221
Series C preferred stock liability, net of discounts of $180,712 at December 31, 2018 1,539,479
Total current liabilities 15,479,151 13,409,345
Series C preferred stock liability, net of discounts of $101,808 at December 31, 2017 598,192
Acquisition payable 155,000 155,000
Total liabilities 15,634,151 14,162,537
COMMITMENTS AND CONTINGENCIES, note 9
Shareholders' deficit    
Super AA super voting preferred stock, $0.001 par value; 1,000,000 authorized and 25,000 and 5,000 issued and outstanding at December 31, 2018 and December 31, 2017 25 5
Series B convertible preferred stock, $0.0001 par value; 50,000 shares authorized, 600 and 0 issued and outstanding at December 31, 2018 and December 31, 2017 1
Common stock, $0.0001 par value; 2,500,000,000 shares authorized; 431,063,061 and 316,951,712 shares issued and outstanding as of December 31, 2018 and December 31, 2017 43,106 31,692
Additional paid-in capital 24,186,882 19,604,016
Stock subscriptions (1,570) (1,570)
Accumulated deficit (35,620,282) (29,184,443)
Total shareholders' deficit (11,391,838) (9,550,300)
Total liabilities and shareholders' deficit $ 4,242,313 $ 4,612,237