Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 62,662 $ 323,410
Deposits and other assets 88,302 87,715
Prepaid expenses 24,117 2,533
Total current assets 175,081 413,658
PROPERTY AND EQUIPMENT, net 12,317 13,923
INTANGIBLE ASSETS, net 430,066 424,497
TOTAL ASSETS 617,464 852,078
CURRENT LIABILITIES    
Accrued payroll and payroll related expenses 3,482,859 3,468,610
Accounts payable and accrued expenses 709,957 662,803
Fees payable to directors 418,546 418,546
Employee settlement 50,000 50,000
Total current liabilities $ 4,661,362 $ 4,599,959
COMMITMENTS AND CONTINGENCIES
Total liabilities $ 4,661,362 $ 4,599,959
STOCKHOLDERS' DEFICIT    
Preferred stock - $0.001 par value; 50,000,000 shares authorized,  0 shares issued and outstanding as of March 31, 2016 and  December 31, 2015, respectively
Common stock - $0.001 par value; 400,000,000 shares authorized, 69,445,098 and 69,087,955 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively $ 69,445 $ 69,088
Additional paid-in-capital 50,714,560 50,333,188
Accumulated deficit (54,827,903) (54,150,157)
Total stockholders' deficit (4,043,898) (3,747,881)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 617,464 $ 852,078