Financials

v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 1,232 $ 576
Prepaid expenses 15 0
Total Current Assets 1,247 576
Intangible assets 25,263 253,777
Deposits 21 9
Fixed assets, net 5 6
Total Other Assets 25,289 253,792
TOTAL ASSETS 26,536 254,368
Current Liabilities:    
Accounts payable 2,251 2,546
Accrued expenses 344 102
Line of credit 31 31
Convertible debentures, net of discount of $488 10,597 0
Total Current Liabilities 13,223 2,679
Total liabilities 13,223 2,679
Stockholders' Deficit:    
Common stock - $0.001 par value; 750,000,000 shares authorized; and 50,227,978 and 50,117,977 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 50 50
Additional paid-in capital 537,883 521,305
Accumulated deficit (524,453) (269,499)
Noncontrolling interest (169) (169)
Total Stockholders' Deficit 13,313 251,689
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 26,536 254,368
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

v3.10.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating Expenses:        
Research and development $ 1,111 $ 526 $ 7,835 $ 911
Selling, general and administrative 5,035 126,330 10,628 128,768
Loss on impairment 228,514 0 228,514 0
Total operating expenses 234,660 126,856 246,977 129,679
Loss from Operations (234,660) (126,856) (246,977) (129,679)
Other income (expense)        
Interest expense (1,123) (3,769) (7,978) (8,467)
Total other income (expense) (1,123) (3,769) (7,978) (8,467)
Loss before provision for income taxes (235,783) (130,625) (254,955) (138,146)
Provision for income taxes 0 0 0 0
Net loss $ (235,783) $ (130,625) $ (254,955) $ (138,146)
Loss per share        
Basic $ (4.70) $ (8.15) $ (5.09) $ (24.54)
Diluted $ (4.70) $ (8.15) $ (5.09) $ (24.54)
Weighted Average Shares Outstanding – basic and diluted        
Basic 50,154,516 16,027,687 50,130,202 5,628,529
Diluted 50,154,516 16,027,687 50,130,202 5,628,529

Source

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (254,955) $ (138,146)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 5 2
Loss on impairment of long-lived assets 228,514 0
Stock compensation expense for options and warrants issued to employees and non-employees 8,191 125,905
Amortization of debt discounts 7,816 4,791
Note Allonge 0 100
Non-cash interest expense 0 2,197
Amortization of loan costs 1,076 0
Changes in operating assets and liabilities:    
Prepaid Expenses (15) 0
Other assets (12) (7)
Accounts payable and accrued expenses (53) 1,880
Net cash used in operating activities (9,433) (3,278)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of fixed assets (4) 0
Net cash used in investing activities (4) 0
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from notes payable 15,045 5,991
Loan costs (533) 0
Repayment of note payable 4,419 0
Net cash provided by financing activities 10,093 5,991
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 656 2,713
CASH AND CASH EQUIVALENTS - Beginning of period 576 19
CASH AND CASH EQUIVALENTS - End of period 1,232 2,732
Non-Cash Investing and Financing Activities:    
Issuance of common stock upon conversion of convertible notes 220 0
Acquisition of intangibles through issuance of common stock $ 0 $ 253,777

Source