v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets    
Cash $ 141,940 $ 425,015
Prepaid expenses 25,000 25,000
Total Current Assets 166,940 450,015
Property and Equipment    
Property and equipment, net 1,183 1,352
Assets under construction 915,139 892,639
Property and Equipment, net 916,322 893,991
Total Assets 1,083,262 1,344,006
Current Liabilities    
Accounts payables and accrued expense 6,912,814 6,846,010
Notes payable - related party, net of debt discount 3,555,448 3,592,948
Notes payable, net of debt discount 588,260 87,500
Convertible notes payable -related party- net of debt discount 87,500 589,812
Convertible note payable, net of debt discount 219,303 50,000
Total Current Liabilities 11,363,325 11,166,270
Notes payable, net of debt discount 1,036,974 607,290
Convertible note payable, net of debt discount 80,000 80,000
Total Liabilities 12,480,299 11,853,560
Stockholders' deficiency    
Preferred Stock, $0.001 par value; 20,000,000 shares authorized, 0 and 0 shares issued and outstanding, respectively 0 0
Common stock, $0.001 par value; 200,000,000 shares authorized, 122,762,904 and 122,642,247 shares issued and outstanding, respectively 122,763 122,642
Additional paid-in capital 57,135,228 57,071,022
Accumulated deficit (68,655,028) (67,703,218)
Total Stockholders' Deficiency (11,397,037) (10,509,554)
Total Liabilities and Stockholders' Deficiency $ 1,083,262 $ 1,344,006
v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating Expenses    
Salaries and wages $ 329,989 $ 257,488
Professional fees 207,237 352,796
General and administrative 226,988 78,346
Warrant Expense 0 6,769,562
Total Operating Expenses 764,214 7,458,192
Loss from Operations (764,214) (7,458,192)
Other Expenses    
Interest Expense and amortization of debt discount (161,315) (104,993)
Amortization of debt discount (26,281) (2,524)
Total Other Expense (187,596) (107,517)
Loss Before Income Taxes (951,810) (7,565,709)
Provision for Income Taxes 0 0
Net Loss $ (951,810) $ (7,565,709)
Net Loss per Common Share Basic and Diluted $ (0.01) $ (0.07)
Weighted Average Number of Common Shares Outstanding 122,678,291 104,848,986
v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows From Operating Activities:    
Net loss $ (951,810) $ (7,565,709)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation 169 503
Stock issued for services 23,666 244,800
Warrant Expense 0 6,769,562
Amortization of debt discounts (26,281) (2,524)
Changes in assets and liabilities:    
Prepaid expenses 0 6,703
Accounts payable and accrued expenses 66,804 210,236
Net Cash Used In Operating Activities (834,890) (331,381)
Cash Flow From Investing Activities:    
Assets under construction (22,500) (22,853)
Due from related party 0 (34,773)
Net Cash Used In Investing Activities (22,500) (57,626)
Cash Flows From Financing Activities:    
Repayment of notes payable - related party (37,500) (25,000)
Repayment of notes payable (1,552) 200,000
Proceeds from exercise of warrants 8,211 409,625
Proceeds from note payable 444,156 0
Proceeds from convertible note payable 161,000 0
Repayment of amount due to related party 0 (36,822)
Net Cash Provided by Financing Activities 574,315 547,803
Net increase (decrease) in cash and cash equivalents (283,075) 158,796
Cash and cash equivalents at beginning of year 425,015 7,495
Cash and Cash Equivalents at End of Period 141,940 166,291
Supplemental disclosure of cash flow information    
Cash paid for interest expense 2,736 2,640
Cash paid for income taxes 0 0
Supplemental disclosure of non-cash investing and financing activities:    
Debt discount on note payable $ 32,450 $ 0