Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows From Operating Activities    
Net loss $ (2,324,580) $ (1,800,990)
Adjustments to reconcile net loss to net cash used in operating activities:    
Change in fair value of derivative liabilities (695,200) (115,900)
Amortization of debt discount 1,061,736 197,925
Depreciation 645 645
Stock-based compensation:    
Common stock   40,000
Warrants 115,589 16,759
Changes in operating assets and liabilities:    
Prepaid expenses (42,728) (28,033)
Other current assets (10,774) (74,680)
Accounts payable and accrued expenses 551,581 305,660
Net Cash Used in Operating Activities (1,343,731) (1,458,614)
Cash Flows From Financing Activities    
Proceeds from issuance of notes payable 1,453,000 995,000
Repayment of note payable, related party (50,000)  
Payment of debt issuance costs (44,575)  
Deferred financing costs (20,000)  
Proceeds from cash advances   450,000
Net Cash Provided by Financing Activities 1,338,425 1,445,000
Net Decrease In Cash (5,306) (13,614)
Cash - Beginning 6,944 19,480
Cash - Ending 1,638 5,866
Non-cash investing and financing transactions:    
Warrants and conversion options issued in connection with issuance of notes payable 948,500 362,200
Deferring financing costs   100,000
Advance exchanged for a convertible note payable 250,000
Shares issued in connection with extension of notes payable $ 200,000