Financials

v3.19.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 60 $ 576
Prepaid expenses 30 0
Total Current Assets 90 576
Intangible assets 25,262 253,777
Deposits 12 9
Fixed assets, net 35 6
Total Other Assets 25,309 253,792
TOTAL ASSETS 25,399 254,368
Current Liabilities:    
Accounts payable 1,762 2,546
Accrued expenses 1,455 102
Line of credit 31 31
Note Payable to Related Party 100 0
Deferred Rent 8 0
Convertible debentures 10,673 0
Total Current Liabilities 14,029 2,679
Total liabilities 14,029 2,679
Stockholders' Deficit:    
Common stock - $0.001 par value; 750,000,000 shares authorized; and 50,650,478 and 50,117,977 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively 51 50
Additional paid-in capital 540,171 521,305
Accumulated deficit (528,685) (269,499)
Noncontrolling interest (169) (169)
Total Stockholders' Deficit 11,370 251,689
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 25,399 254,368
Series C    
Stockholders' Deficit:    
Convertible preferred stock - $0.001 par value; 15,000,000 shares authorized 1 1
Series J    
Stockholders' Deficit:    
Convertible preferred stock - $0.001 par value; 15,000,000 shares authorized $ 1 $ 1

Source

v3.19.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Operating Expenses:    
Research and development $ 9,067 $ 1,068
Selling, general and administrative 12,487 134,502
Loss on impairment 228,515 0
Total operating expenses 250,069 135,570
Loss from Operations (250,069) (135,570)
Other income (expense)    
Interest expense/income (9,117) (8,602)
Total Other Income (Expense) (9,117) (8,602)
Income (loss) before minority interest and provision for income taxes (259,186) (144,172)
Provision for income taxes 0 0
Net loss $ (259,186) $ (144,172)
Weighted average shares outstanding    
Basic 50,240 16,769
Diluted 50,240 16,769
Net income (loss) per share    
Basic $ (5.16) $ (8.60)
Diluted $ (5.16) $ (8.60)

Source

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (259,186) $ (144,172)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 7 2
Loss on impairment of long-lived assets 228,515 0
Stock compensation expense for options and warrants issued to employees and non-employees 9,696 130,124
Amortization of debt discounts 8,663 4,914
Note Allonges 0 100
Non-cash interest expense 441 2,197
Amortization of loan costs 1,076 0
Changes in operating assets and liabilities:    
Prepaid Expenses (30) 0
Other assets (3) (7)
Other liabilities 8 0
Accounts payable and accrued expenses 136 1,412
Net cash used in operating activities (10,677) (5,430)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets (36) (4)
Net cash used by investing activities (36) (4)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 15,145 5,991
Loan costs (533) 0
Repayment of note payable (4,415) 0
Net cash provided by financing activities 10,197 5,991
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (516) 557
CASH AND CASH EQUIVALENTS - Beginning of period 576 19
CASH AND CASH EQUIVALENTS - End of period 60 576
Supplemental disclosures:    
Issuance of common stock upon conversion of convertible notes 325 0
Acquisition of intangibles through issuance of common stock 0 253,777
Issuance of common stock for interest expense 0 5,179
Issuance of common stock for debt $ 0 $ 19,166

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