Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash $ 323,410 $ 35,696
Inventory 958,575
Deposits and other assets $ 87,715 92,829
Prepaid expenses 2,533 19,862
Total current assets 413,658 1,106,962
PROPERTY AND EQUIPMENT, net 13,923 20,611
INTANGIBLE ASSETS, net 424,497 419,518
TOTAL ASSETS 852,078 1,547,091
CURRENT LIABILITIES    
Accrued payroll and payroll related expenses 3,468,610 3,555,961
Accounts payable and accrued expenses 662,803 651,991
Fees payable to directors 418,546 418,546
Employee settlement $ 50,000 50,000
Other current liabilities 85,004
Total current liabilities $ 4,599,959 $ 4,761,502
COMMITMENTS AND CONTINGENCIES
Total liabilities $ 4,599,959 $ 4,761,502
STOCKHOLDERS' DEFICIT    
Common stock - $0.001 par value; 400,000,000 shares authorized, 69,087,955 and 63,885,930 shares issued and outstanding as of December 31, 2015 and 2014, respectively 69,088 63,886
Additional paid-in-capital $ 50,333,188 46,908,249
Deferred compensation (294,264)
Accumulated deficit $ (54,150,157) (49,892,282)
Total stockholders' deficit (3,747,881) (3,214,411)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 852,078 $ 1,547,091