Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.7.0.1
Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 687,185 $ 40,995
Accounts receivable 5,011
Prepaid expenses and other current assets 82,710 78,356
Inventory, net 55,116 109,751
Total current assets 830,022 229,102
Property and equipment, net 1,577 7,668
Intangible assets 503,571 567,857
Goodwill 69,782 69,782
Other assets 3,625
Total assets 1,404,952 878,034
Current liabilities:    
Accounts payable 319,474 575,068
Accrued expenses and other current liabilities 347,405 278,225
Deferred revenue 112,162 164,285
Notes payable - related parties, current portion 297,820 20,000
Total current liabilities 1,076,861 1,037,578
Convertible note payable - related party, net of discount 754,461 93,177
Convertible Notes payable, net of discount 364,619
Notes payable - related parties 277,820
Warrant liability 1,093,765
Derivative liability 1,234,106
Total liabilities 4,523,812 1,408,575
COMMITMENTS AND CONTINGENCIES  
Stockholders' (deficit):    
Preferred stock, $0.001 par value, 5,000,000 shares authorized, none issued and outstanding
Common stock, $0.001 par value, 400,000,000 shares authorized, 46,702,836 and 39,319,507 shares issued and outstanding at December 31, 2016 and 2015, respectively 46,703 39,319
Common stock subscribed 200,000
Additional paid-in capital 15,060,616 13,718,795
Accumulated deficit (18,226,179) (14,488,655)
Total stockholders' deficit (3,118,860) (530,541)
Total liabilities and stockholders' deficit $ 1,404,952 $ 878,034