Quarterly report pursuant to Section 13 or 15(d)

Unaudited Condensed Consolidated Statements of Cash Flows

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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Net Cash Provided by (Used in) Operating Activities    
Net Loss $ (6,158,296) $ (4,827,429)
Adjustments to reconcile net loss to net cash used by operating activities:    
Stock and warrants issued for services rendered - related party 10,463 10,857
Stock and warrants issued for services rendered 1,160,157 1,270,060
Loss on Extinguishment of Debt 406,482 0
Warrants issued for Directors' Fees 166,668 69,713
Stock and warrants issued for financing costs - related party 126,000 63,000
Amortization of deferred finance costs 84,350 0
Amortization of bond discount 427,626 1,119,875
Depreciation expense 18,750 18,750
Changes in assets and liabilities:    
(Increase) in prepaid expenses (77,394) (16,916)
(Decrease) in accounts payable (31,326) (290,700)
Increase in due to related party 159,300 94,500
Increase in accrued liabilities and interest 826,775 764,667
Net Cash Provided by (Used in) Operating Activities (2,880,445) (1,723,623)
Cash Flows from Investing Activities: 0 0
Net Cash Provided by (Used in) Financing Activities    
Proceeds of Loan Payable, related party 98,040 2,315
Deferred Finance Costs 0 (60,000)
Proceeds from issuance of 11% convertible debentures 3,500,000 2,350,000
Net Cash Provided by (Used in) Financing Activities 3,598,040 2,292,315
Increase (Decrease) in Cash 717,595 568,692
Cash and Cash Equivalents, at Carrying Value, Beginning Balance 506,986 16,589
Cash and Cash Equivalents, at Carrying Value, Ending Balance 1,224,581 585,281
Supplemental Cash Flow Information    
Interest Paid 0 0
Income Taxes Paid $ 0 $ 0