Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 55,251 $ 211,765
Short-term Investments 13,458 27,403
Accounts receivable, net 12,874 18,317
Inventory 136,388 149,175
Other current assets 45,363 11,034
Total current assets 263,334 417,694
Property and equipment, net 7,038 7,512
Other assets:    
Long-term Investments 693,915 693,915
Right-of-use-assets 18,702 22,101
Security deposit 2,500 2,500
Total assets 985,489 1,143,722
Current liabilities:    
Accounts payable 722,440 797,789
Accrued compensation 32,375 4,875
Accrued liabilities 465,328 522,258
Debt obligations of Joint Venture 394,848
Notes payable, related parties 40,000 40,000
Convertible notes payable, net of debt discount of $785,204 and $808,980, respectively 3,040,324 3,193,548
Right-of-use liabilities - current portion 10,962 14,361
Warrant liability to be settled 192,115
Contingency Liability 956,251
Subscriptions payable 327,383 330,797
Derivative liability 6,059,349 5,693,071
Total current liabilities 11,093,009 11,745,065
Non-Current Liabilities    
Right-of-use liabilities 7,858 7,858
Total liabilities 11,100,867 11,752,923
Stockholders' deficit:    
Preferred stock, $0.001 par value, 50,000,000 shares authorized; Class A preferred stock, $0.001 par value, 10,000,000 shares designated, 10,000,000 shares issued and outstanding as of March 31, 2020 and December 31, 2019; Class B preferred stock, $0.001 par value, 5,000,000 shares designated, 0 shares issued and outstanding as of March 31, 2020 and December 31, 2019 10,000 10,000
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 126,702,818 and 77,958,081 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively 126,703 77,958
Common stock to be issued, 1,000,000 and 0 shares, respectively 1,000
Additional paid in capital 66,029,435 63,467,054
Accumulated deficit (76,282,515) (74,164,213)
Total stockholders' deficit (10,115,377) (10,609,201)
Total liabilities and stockholders' deficit 985,489 1,143,722
Preferred Class A [Member]    
Stockholders' deficit:    
Preferred stock, $0.001 par value, 50,000,000 shares authorized; Class A preferred stock, $0.001 par value, 10,000,000 shares designated, 10,000,000 shares issued and outstanding as of March 31, 2020 and December 31, 2019; Class B preferred stock, $0.001 par value, 5,000,000 shares designated, 0 shares issued and outstanding as of March 31, 2020 and December 31, 2019 10,000 10,000
Total stockholders' deficit 10,000 10,000
Total liabilities and stockholders' deficit 10,000 10,000
Preferred Class B [Member]    
Stockholders' deficit:    
Preferred stock, $0.001 par value, 50,000,000 shares authorized; Class A preferred stock, $0.001 par value, 10,000,000 shares designated, 10,000,000 shares issued and outstanding as of March 31, 2020 and December 31, 2019; Class B preferred stock, $0.001 par value, 5,000,000 shares designated, 0 shares issued and outstanding as of March 31, 2020 and December 31, 2019
Total stockholders' deficit
Total liabilities and stockholders' deficit