Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 9,378 $ 9,592
Accounts receivable 3,013 9,730
Inventory 721,395 726,140
Prepaid expenses 6,250 15,086
Total current assets 740,036 760,548
Equipment, net 18,965 25,278
Intangible assets, net 691,923 803,306
Goodwill 481,947 481,947
Total assets 1,932,871 2,071,079
Current liabilities:    
Accounts payable 217,130 194,023
Due to related party 904,304 721,434
Accrued compensation - related party 1,109,750 1,036,000
Deferred revenue 37,726 81,455
Common stock payable 79,625
Short term notes payable, less unamortized debt issuance costs of $81,250 and $70,000 at June 30, 2018 and December 31, 2017, respectively 91,439 19,051
Convertible notes payable, less unamortized debt discount of $100,548 and $224,904 at June 30, 2018 and December 31, 2016, respectively 1,630,956 1,212,600
Derivative liabilities 31,875 470,839
Estimated fair value of contingent payments, net 283,191 287,957
Other current liabilities 90,187 61,969
Total current liabilities 4,396,558 4,164,953
Total liabilities 4,396,558 4,164,953
Shareholders' deficit    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 1 and 1 share issued and outstanding at June 30, 2018 and December 31, 2017, respectively
Common stock, $0.0001 par value, 150,000,000 shares authorized; 62,822,408 and 53,276,676 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively 6,283 5,328
Additional paid-in-capital 8,957,724 8,281,793
Accumulated deficit (11,427,694) (10,380,995)
Total shareholders' deficit (2,463,687) (2,093,874)
Total liabilities and shareholders' deficit $ 1,932,871 $ 2,071,079