Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.19.1
Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 133,435 $ 18,412
Prepaid expenses and other current assets 10,533 7,746
Total current assets 143,968 26,158
Deferred direct issuance costs - offering 276,560
Property and equipment, net of accumulated depreciation 1,014,240 336,726
Intangible assets, net of accumulated amortization 84,942 92,102
Other assets 23,283 23,283
Total assets 1,542,993 478,269
Current liabilities:    
Accounts payable 2,737,836 445,453
Accrued liabilities 1,863,874 853,443
Dividends payable 4,613,260 3,333,260
Accrued interest 133,804
Accrued interest - related party 1,162,719 295,830
Convertible notes payable, net 1,784,976
Convertible notes payable - related party 8,422,000 6,025,000
Notes payable, net 293,568
Notes payable – related party, net 65,479
Deferred rent - current portion 7,106
Total current liabilities 21,084,622 10,952,986
Deferred rent 16,256 25,878
Total liabilities 21,100,878 10,978,864
Commitments and contingencies
Stockholders’ deficit    
Common stock, $0.001 par value, 100,000,000 authorized, 1,998,056 and 1,820,556 shares issued and outstanding, respectively 1,998 1,821
Additional paid-in capital 22,568,857 21,031,388
Accumulated deficit (42,131,275) (31,536,339)
Total stockholders’ deficit (19,557,885) (10,500,595)
Total liabilities and stockholders’ deficit 1,542,993 478,269
Series A Preferred Stock [Member]    
Stockholders’ deficit    
Preferred stock 417 417
Series B Preferred Stock [Member]    
Stockholders’ deficit    
Preferred stock $ 2,118 $ 2,118