Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 2,870,000 $ 576,000
Prepaid expenses 0 0
Total Current Assets 2,870,000 576,000
Intangible assets 253,777,000 253,777,000
Loan costs 670,000 0
Deposits 9,000 9,000
Fixed assets, net 7,000 6,000
Total Other Assets 254,463,000 253,792,000
TOTAL ASSETS 257,333,000 254,368,000
Current Liabilities:    
Accounts payable 1,830,000 2,546,000
Accrued expenses 283,000 102,000
Line of credit 31,000 31,000
Convertible debentures, net of discount of $4,829,000 2,932,000 0
Total Current Liabilities 5,076,000 2,679,000
Total liabilities 5,076,000 2,679,000
Stockholders' Deficit:    
Common stock - $0.001 par value; 750,000,000 shares authorized; and 50,117,977 and 50,117,977 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 50,000 50,000
Additional paid-in capital 531,963,000 521,305,000
Accumulated deficit (279,589,000) (269,499,000)
Noncontrolling interest (169,000) (169,000)
Total Stockholders' Deficit 252,257,000 251,689,000
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 257,333,000 254,368,000
Series C    
Stockholders' Deficit:    
Convertible preferred stock - $0.001 par value; 15,000,000 shares authorized 1,000 1,000
Series J    
Stockholders' Deficit:    
Convertible preferred stock - $0.001 par value; 15,000,000 shares authorized $ 1,000 $ 1,000