Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash $ 24,208 $ 506,986
Prepaid Expenses 33,197 13,437
Total Current Assets 57,405 520,423
PROPERTY AND EQUIPMENT, NET 6,250 18,750
OTHER ASSETS:    
Deferred Finance Costs, net 141,885 198,119
TOTAL ASSETS 205,540 737,292
CURRENT LIABILITIES:    
Accounts Payable 760,139 666,365
Due to Related Party 373,234 319,234
Loans Payable, Related Parties 415,979 245,979
Convertible Debentures Payable, less discount of $0 and $500,490 at June 30, 2017 and December 31, 2016, respectively 240,000 6,886,710
Accrued Interest 723,269 2,659,574
Accrued Liabilities - Other 104,359 404,618
Total Current Liabilities 2,616,980 11,182,480
LONG TERM LIABILITIES:    
Total Long Term Liabilities 14,159,498 3,176,047
TOTAL LIABILITIES 16,776,478 14,358,527
STOCKHOLDERS' DEFICIT:    
Common Stock, Value 139,321 136,745
Additional Paid-In Capital 40,353,558 40,016,059
Accumulated deficit (57,063,817) (53,774,039)
Total Stockholders' Deficit (16,570,938) (13,621,235)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 205,540 737,292
Convertible Debentures Payable, less Discount $ 14,159,498 $ 3,176,047