Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 406,470 $ 323,410
Deposits and other assets 106,852 87,715
Prepaid expenses 23,387 2,533
Total current assets 536,709 413,658
PROPERTY AND EQUIPMENT, net 10,771 13,923
INTANGIBLE ASSETS, net 432,185 424,497
TOTAL ASSETS 979,665 852,078
CURRENT LIABILITIES    
Accrued payroll and payroll related expenses 3,486,040 3,468,610
Accounts payable and accrued expenses 733,719 662,803
Fees payable to directors 418,546 418,546
Employee settlement 50,000 50,000
Total current liabilities 4,688,305 4,599,959
COMMITMENTS AND CONTINGENCIES
Total liabilities 4,688,305 4,599,959
STOCKHOLDERS' DEFICIT    
Preferred Stock - $0.001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively
Common stock - $0.001 par value; 400,000,000 shares authorized, 76,482,598 and 69,087,955 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively 76,483 69,088
Additional paid-in-capital 51,270,522 50,333,188
Accumulated deficit (55,055,645) (54,150,157)
Total stockholders' deficit (3,708,640) (3,747,881)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 979,665 $ 852,078