Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.19.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 8,831 $ 18,934
Prepaid expenses 40,315 38,926
Other current assets 28,301 7,932
Total Assets 77,447 65,792
Liabilities and Stockholders' Deficiency    
Accounts payable 448,523 277,786
Accrued expenses 1,121,881 532,790
Accrued expenses - related party 105,333 72,000
Accrued interest 335,659 345,948
Accrued interest - related parties 29,803 27,559
Accrued compensation 651,202 587,734
Accrued compensation - related party 103,526 55,083
Advances payable 375,500 100,000
Advances payable - related party 100,000 100,000
Notes payable, net of debt discount of $5,392 and $0, as of September 30, 2019 and December 31, 2018, respectively 1,107,608 1,463,000
Notes payable - related parties 150,000 150,000
Convertible notes payable, net of debt discount of $2,242 and $0, as of September 30, 2019 and December 31, 2018, respectively 610,758 835,000
Convertible notes payable - related parties 225,000 225,000
Derivative liabilities 380,100 200,500
Accrued dividend payable 247,102 13,563
Total Liabilities 5,991,995 4,985,963
Commitments and contingencies (Note 8)
Stockholders' Deficiency:    
Common Stock, $0.001 par value, 200,000,000 shares authorized, 26,479,471 and 26,077,611 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively 26,479 26,078
Additional paid-in capital 14,627,597 11,723,224
Accumulated deficit (20,569,793) (16,670,333)
Total Stockholders' Deficiency (5,914,548) (4,920,171)
Total Liabilities and Stockholders' Deficiency 77,447 65,792
Convertible Preferred Stock    
Stockholders' Deficiency:    
Convertible Preferred Stock, $0.001 par value, 10,000,000 shares authorized; Series A Convertible Preferred Stock, 1,335,000 shares designated, 1,168,759 and 860,291 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively; liquidation preference of $9,012,794 and $6,465,745 as of September 30, 2019 and December 31, 2018, respectively $ 1,169 $ 860