Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash $ 5,256 $ 18,893
Accounts receivable, net of allowance for doubtful accounts of $0 941 22,742
Prepaid expenses and other current assets 3,360 20,920
Total current assets 9,557 62,555
Property, Plant and Equipment, net 3,386 5,915
Patents, net 2,882,724 3,206,180
Total assets 2,895,667 3,274,650
Current liabilities    
Accounts payable 609,406 599,470
Accrued interest 1,623,893 1,317,376
Deferred compensation 2,816,859 2,431,373
Notes payable, net of discounts of $31,638 and $12,649 as of June 30, 2020 and December 31, 2019 6,054,091 6,697,146
Notes payable - related party 152,000 165,000
Derivative liability 3,666,938 10,599,690
Series C preferred stock liability, net of discounts $766 at December 31, 2019 1,813,415
Total current liabilities 14,923,187 23,623,470
Acquisition payable 155,000 155,000
Total liabilities 15,078,187 23,778,470
COMMITMENTS AND CONTINGENCIES, note 10
Shareholders' deficit    
Super AA super voting preferred stock, $0.001 par value; 1,000,000 authorized and 25,000 issued and outstanding at June 30, 2020 and December 31, 2019 25 25
Common stock, $0.0001 par value; 2,500,000,000 shares authorized; 7,213,661 and 1,189,204 shares issued and outstanding as of June 30, 2020 and December 31, 2019 1,244 118
Additional paid-in capital 38,056,951 32,432,392
Stock subscriptions (1,570) (1,570)
Accumulated deficit (50,239,171) (52,934,786)
Total shareholders' deficit (12,182,520) (20,503,820)
Total liabilities and shareholders' deficit 2,895,667 3,274,650
Series B Convertible Preferred Stock [Member]    
Shareholders' deficit    
Convertible preferred stock 1 1
Series C Convertible Preferred Stock [Member]    
Shareholders' deficit    
Convertible preferred stock
Series D Convertible Preferred Stock [Member]    
Shareholders' deficit    
Convertible preferred stock