Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

v2.4.0.8
CONSOLIDATED BALANCE SHEET (USD $)
Dec. 31, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash $ 493,104 $ 47,147
Prepaid Expenses 72,122 8,701
Miscellaneous Receivable 118,467 0
Deferred Finance Costs 4,834 34,957
Total Current Assets 688,527 90,805
PROPERTY AND EQUIPMENT, NET 93,750 13,203
OTHER ASSETS:    
Definite-life Intangible Assets, net 0 6,234
Patent Applications Pending 1,391,281 0
Deposits 845 123,762
Total Other Assets 1,392,126 129,996
TOTAL ASSETS 2,174,403 234,004
CURRENT LIABILITIES:    
Accounts Payable 483,208 938,640
Loan Payable, Related Party 0 15,362
Loans Payable, Others 0 243,592
Customer Deposits 0 27,837
Obligation to Issue Common Stock 0 337,478
Convertible Debentures Payable, less discount of $517,542 and $111,280 at December 31, 2012 and 2013 1,619,319 482,458
Derivative Liability 8,036,239 1,026,128
Deferred Rent 0 19,110
Accrued Liabilities 738,686 270,682
Total Current Liabilities 10,877,452 3,361,287
LONG TERM LIABILITIES:    
Convertible Debenture Payable, less discount of $223,692 and $2,159,189 at December 31, 2012 and 2013 890,811 593,908
Deferred Revenue, non-current 0 235,000
Total Long Term Liabilities 890,811 828,908
TOTAL LIABILITIES 11,768,263 4,190,195
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 200,000,000 shares authorized; 105,317,816 and 116,852,093 issued and outstanding at December 31, 2012 and 2013, respectively 116,852 105,318
Additional Paid-In Capital 32,895,380 28,448,705
Accumulated Deficit (42,606,092) (32,510,214)
Total Stockholders' Deficit (9,593,860) (3,956,191)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,174,403 $ 234,004