Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

v3.7.0.1
CONSOLIDATED BALANCE SHEET - USD ($)
Dec. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash $ 506,986 $ 16,589
Prepaid Expenses 13,437 12,341
Total Current Assets 520,423 28,930
PROPERTY AND EQUIPMENT, NET 18,750 43,750
OTHER ASSETS:    
Deferred Finance Costs, net 198,119 0
TOTAL ASSETS 737,292 72,680
CURRENT LIABILITIES:    
Accounts Payable 666,365 1,114,426
Due to Related Party 319,234 211,233
Loans Payable, Related Parties 245,979 337,107
Convertible Debentures Payable, less discount of $385,190 and $500,490 at December 31, 2015 and 2016, respectively 6,886,710 1,224,510
Accrued Interest 2,659,574 1,673,386
Accrued Liabilities - Other 404,618 410,248
Total Current Liabilities 11,182,480 4,970,910
LONG TERM LIABILITIES:    
Convertible Debenture Payable, less discount of $1,458,741 and $ 73,953 at December 31, 2015 and 2016, respectively 3,176,047 4,598,759
Total Long Term Liabilities 3,176,047 4,598,759
TOTAL LIABILITIES 14,358,527 9,569,669
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 450,000,000 shares authorized; 132,156,776 and 136,745,347 issued and outstanding at December 31, 2015 and 2016, respectively 136,745 132,157
Additional Paid-In Capital 40,016,059 38,085,266
Accumulated Deficit (53,774,039) (47,714,412)
Total Stockholders' Deficit (13,621,235) (9,496,989)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 737,292 $ 72,680