Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash $ 1,877,687 $ 222,410
Inventory 986,674 986,674
Deposits and other assets 91,642 94,220
Prepaid expenses 66,801 14,380
Total current assets 3,022,804 1,317,684
PROPERTY AND EQUIPMENT, net 22,583 26,041
INTANGIBLE ASSETS, net 418,589 424,757
TOTAL ASSETS 3,463,976 1,768,482
CURRENT LIABILITIES    
Accrued payroll and payroll related expenses 3,591,084 3,774,580
Notes payable, current portion, net of discount of $0 and $4,592 as of June 30, 2014 and December 31, 2013, respectively    9,039,444
Accounts payable 585,781 682,319
Accrued interest    657,092
Fees payable to directors 423,754 468,546
Employee settlement 50,000 50,000
Patent license payable, current 10,000 10,000
Other current liabilities    12,613
Total current liabilities 4,660,619 14,694,594
NON-CURRENT LIABILITIES    
Patent license payable, less current portion    10,000
Total non-current liabilities    10,000
COMMITMENTS AND CONTINGENCIES      
Total liabilities 4,660,619 14,704,594
STOCKHOLDERS' EQUITY (DEFICIT)    
Common stock - $0.001 par value; 400,000,000 shares authorized, 63,496,871 and 33,229,093 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively 63,496 33,229 [1]
Additional paid in capital 45,490,992 19,867,961 [1]
Deferred compensation (547,475)   
Accumulated deficit (46,203,656) (32,897,657)
Total stockholders' equity (deficit) (1,196,643) (12,936,112)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) 3,463,976 1,768,482
Preferred Series A [Member]
    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock    40,118
Preferred Series B [Member]
    
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock    $ 20,237
[1] December 31, 2013 retroactively adjusted to reflect effects of the reverse acquisition transaction.