Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 39,000 $ 19,000
Prepaid expenses 0 2,000
Total Current Assets 39,000 21,000
Fixed assets, net 3,000 4,000
Total Other Assets 3,000 4,000
TOTAL ASSETS 42,000 25,000
Current Liabilities:    
Accounts payable 2,347,000 2,100,000
Accrued interest 4,339,000 3,800,000
Accrued expenses 57,000 219,000
Line of credit 31,000 31,000
Warrant liability 964,000 417,000
Settlement note payable 691,000 691,000
Demand notes payable 190,000 452,000
Convertible debentures, net of discount of $215,000 and $794,000, current portion 10,663,000 10,350,000
Convertible debentures 844,000 889,000
Total Current Liabilities 20,126,000 18,949,000
Stockholders' Deficit:    
Convertible preferred stock - $0.001 par value; 15,000,000 shares authorized: Series C - 96,230 and 96,230 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 1,000 1,000
Series H – 25,000 and 25,000 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 0 0
Series I – 1,666,667 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 2,000 2,000
Common stock - $0.001 par value; 750,000,000 shares authorized; and 496,441 and 104,218 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 0 0
Additional paid-in capital 109,876,000 105,891,000
Accumulated deficit (129,794,000) (124,649,000)
Noncontrolling interest (169,000) (169,000)
Total Stockholders' Deficit (20,084,000) (18,924,000)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 42,000 $ 25,000