• Filing Date: 2019-05-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and cash equivalents $ 1,767,900 $ 50,986
Short-term receivables - legal fees, settlement and other, net 604,269 595,326
Prepaid expenses 271,984 370,209
Total Current Assets 2,715,477 1,016,521
Equipment and furnishings, less accumulated depreciation of $54,061 and $50,538, respectively 68,953 72,476
Operating lease right-of-use asset 247,763
Patents, net of accumulated amortization of $10,983,998 and $10,816,218, respectively 731,447 899,227
Total Assets 3,692,316 1,988,224
Current Liabilities:    
Accounts payable - trade 1,459,117 3,312,049
Other accrued expenses 1,338,632 790,358
Current portion of operating lease liability 73,437
Total Current Liabilities 2,871,186 4,102,407
Accrued interest 856,131 659,379
Accrued interest - related parties 849,749 711,927
Convertible notes payable 10,837,000 7,062,000
Convertible notes payable - related parties 6,895,000 6,870,000
Non-current portion of operating lease liability 187,602
Total Liabilities 22,496,668 19,405,713
Commitments and contingencies (Note 7)
Stockholders' Deficiency:    
Preferred stock; par value $0.001 per share; 25,000,000 shares authorized; Series B Convertible Preferred Stock; 240,000 shares designated; 100 shares issued and outstanding at March 31, 2019 and December 31, 2018; aggregate liquidation preference of $3,500 at March 31, 2019 and December 31, 2018
Common stock; par value $0.001 per share; 1,000,000,000 shares authorized; 384,714,528 and 384,614,528 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively 384,715 384,615
Additional paid-in capital 209,097,417 209,092,187
Accumulated other comprehensive loss (22,363)
Accumulated deficit (228,264,121) (226,894,291)
Total Stockholders' Deficiency (18,804,352) (17,417,489)
Total Liabilities and Stockholders' Deficiency $ 3,692,316 $ 1,988,224