Financials

v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets    
Cash and cash equivalents $ 21,733 $ 119,010
Marketable securities 28,390 9,410
Accounts receivable 21,968 29,999
Notes receivable 35,000 60,000
Inventory 32,300 150,823
Deposits in escrow 10,000 0
Prepaid insurance 115,849 73,755
Prepaid expenses and other current assets 323,241 83,663
Total current assets 588,481 526,660
Property and equipment, net of accumulated depreciation of $31,977 and $16,986, respectively 455,588 470,578
Land 4,945,000 4,945,000
Construction in progress 1,153,264 624,173
Deferred Costs 0 375,018
Deposits and other assets, net of reserve of $112,500 and $115,000, respectively 7,486 50,212
Total assets 7,149,819 6,991,641
Current liabilities    
Accounts payables 5,670,863 3,100,804
Accrued interest payable 824,919 430,702
Accrued expenses, directors 237,854 241,410
Accrued settlement and severance expenses 653,313 962,703
Accrued legal contingencies 412,538 185,225
Other accrued expenses 174,154 275,269
Deferred revenue, current 160,822 214,343
Notes payable, net of premium of $10,000 and $16,667, respectively and discounts of $323,924 and $0, respectively 1,294,051 256,897
Related party notes payable, net of discount of $12,000 and $0, respectively 277,866 0
Convertible notes payable, net of discount of $0 and $151,414 , respectively 7,334,454 6,667,523
Convertible notes payable, directors 105,000 0
Derivative Liability 2,159,066 19,246,594
Warrant Liability 5,552 940,000
Customer deposits 931,204 931,204
Total current liabilities 20,241,656 33,452,674
Notes Payable, less current portion 4,044,206 4,288,631
Deferred revenue, less current portion 258,203 337,523
Total liabilities 24,544,065 38,078,828
Stockholders' Deficit    
Preferred stock, $0.001 par value: 10,000,000 authorized; 0 issued and outstanding as of June 30, 2016 and December 31, 2015, respectively 0 0
Common stock, $0.001 par value: 10,000,000,000 authorized, 3,008,785,640 and 240,971,727 issued and outstanding as of June 30, 2016 and December 31, 2015, respectively 3,008,786 240,972
Additional paid-in capital 45,709,863 42,600,089
Treasury stock (1,209,600) (1,209,600)
Accumulated deficit (64,728,521) (72,524,893)
Accumulated other comprehensive loss (174,774) (193,755)
Total stockholders' deficit (17,394,246) (31,087,187)
Total liabilities and stockholders' deficit $ 7,149,819 $ 6,991,641

Source

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(LOSS) (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Income Statement [Abstract]        
Revenue $ 246,233 $ 59,447 $ 474,147 $ 101,195
Revenue, related party 25,192 24,918 49,836 49,562
Less: allowances and refunds 0 0 0 0
Net revenue 271,425 84,365 523,983 150,757
Cost of revenues 194,311 867,025 370,730 1,181,328
Gross profit(loss) 77,114 (782,660) 153,253 (1,030,571)
Operating expenses        
Selling and marketing 41,321 159,156 223,067 338,497
General and administrative 2,483,166 5,236,018 6,233,455 9,121,614
Total operating expenses 2,524,487 5,395,174 6,456,522 9,460,111
Loss from operations (2,447,373) (6,177,834) (6,303,269) (10,490,682)
Other income (expense)        
Interest expense, net (271,825) (90,010) (522,050) (93,800)
Financing Costs (544,736) (1,774,750) (3,060,579) (2,299,632)
Change in fair value of derivative liabilities 9,940,307 814,213 18,819,893 3,053,071
Change in fair value of warrant liability 441,148 0 997,121
Amortization of debt discount (745,150) (4,229,977) (2,613,227) (6,049,639)
Gain on sale of assets of subsidiary 0 0 5,498 0
Gain on sale of interest in subsidiary 331,000 0 630,571
Loss on sale of rights and assets (178,032)   (178,032)  
Other income 23,231 63,450 20,446 52,095
Total other income (expense) 8,995,943 (5,217,074) 14,099,641 (5,337,905)
Income/(loss) before provision for taxes 6,548,570 (11,394,908) 7,796,372 (15,828,587)
Provision for taxes
Net income/(loss) $ 6,548,570 $ (11,394,908) $ 7,796,372 $ (15,828,587)
Income/(loss) per share attributable to common stockholders        
Basic (in dollars per share) $ 0.01 $ (0.32) $ 0.02 $ (0.47)
Diluted (in dollars per share) $ 0.00 $ (0.32) $ 0.00 $ (0.47)
Weighted average shares outstanding        
Basic (in shares) 701,378,818 36,100,385 506,569,535 33,435,964
Diluted (in shares) 10,739,100,799 36,100,385 5,605,827,806 33,435,964
Other Comprehensive income/(loss)        
Net income/(loss) $ 6,548,570 $ (11,394,908) $ 7,796,372 $ (15,828,587)
Unrealized gain from marketable securities 15,847 57,476 18,981 40
Comprehensive income/(loss) $ 6,564,417 $ (11,337,432) $ 7,815,353 $ (15,828,547)

Source

v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income/(loss) $ 7,796,372 $ (15,828,587)
Adjustments to reconcile net loss to net cash:    
Depreciation and amortization 14,991 64,691
Provisions and allowances 70,000
Loss on sale of rights and assets 178,032
Gain on sale of interest in subsidiary (630,571)
Charges from escrow deposits 240,400
Inventory valuation reserve 354,939
Change in fair value of derivative liability (18,819,893) (3,053,071)
Change in fair value of warrant liability (997,121)
Amortization of debt discount 2,613,227 6,049,639
Financing costs 3,060,579 2,299,632
Stock based compensation 644,523 4,292,209
Changes in operating assets and liabilities    
Accounts receivable 8,031 8,774
Inventory 48,523 228,634
Deposits in escrow (10,000) 20,076
Prepaid insurance (42,094) (338,875)
Prepaid expenses and other current assets (196,852) (185,916)
Deferred costs 105,172
Accounts payables 3,445,251 1,659,988
Accrued interest payable 394,217 165,657
Other accrued expenses (101,115) (488,135)
Accrued expenses directors (3,556)
Accrued settlement and severance expenses (309,390) 1,004,486
Accrued legal contingencies 227,313
Customer deposits (311,000)
Deferred revenue (132,841) (51,304)
Deferred costs (299,018)
Net cash used in operating activities (2,637,202) (4,166,781)
Cash flows from investing activities    
Issuance of note receivable (10,000)
Proceeds from the sale of subsidiary 35,000
Proceeds received for sale of interest held in subsidiary 630,571
Proceeds received for sale of rights and assets 91,814
Construction in Progress (529,091)
Net cash provided by investing activities 218,294
Cash flows from financing activities    
Payments on notes payable (223,347) (12,434)
Proceeds from issuance of notes payable 569,000
Proceeds from issuance of/(payments on) notes payable, related party 41,667 (150,000)
Payments on related party notes payable (2,500)
Exercise of employee stock options 16,000
Proceeds from issuance of convertible notes payable, net of fees 1,815,811 4,642,300
Proceeds from issuance of convertible notes payable from directors, net 105,000 150,000
Net cash provided by financing activities 2,321,631 4,629,866
Net decrease in cash and cash equivalents (97,277) 463,085
Cash and cash equivalents, beginning of period 119,010 101,182
Cash and cash equivalents, end of period 21,733 564,267
Supplemental disclosures of cash flow information:    
Cash paid for interest 38,595 1,151
Cash paid for income tax
Non- cash investing and financing activities:    
Common stock issued upon debt conversion 5,118,247 5,810,512
Common stock issued to consultants 96,015 364,728
Issuance of note payable for financing costs 700,000
Issuance of convertible debentures for accounts payable 500,000
Notes Payable issued for accounts payable $ 250,700

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