Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current liabilities:    
Derivative liabilities $ 470,839 $ 153,663
Warrant liabilities 473,296
Successor [Member]    
Current assets:    
Cash 9,592 149,607
Accounts receivable 9,730
Inventory 726,140 723,602
Prepaid expenses 15,086 1,667
Total current assets 760,548 874,876
Equipment, net 25,278 38,050
Intangible assets, net 803,306 947,259
Goodwill 481,947 481,947
Total assets 2,071,079 2,342,132
Current liabilities:    
Accounts payable 194,023 31,940
Due to related party 721,434 440,747
Accrued compensation - related party 1,036,000 776,000
Deferred revenue 81,455 78,820
Common stock payable 79,625
Short term notes payable, less unamortized debt issuance costs of $70,000 19,051
Convertible notes payable, less unamortized debt discount of $224,904 and $273,859 at December 31, 2017 and 2016, respectively 1,212,600 588,641
Derivative liabilities 470,839 153,663
Estimated fair value of contingent payments, net 287,957 424,511
Warrant liabilities 473,296
Other current liabilities 61,969 35,571
Total current liabilities 4,164,953 3,003,189
Long-term liabilities:    
Convertible notes, less unamortized debt discount of $256,722 at December 31, 2016 30,780
Total long-term liabilities 30,780
Total liabilities 4,164,953 3,033,969
Shareholders' deficit    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 1 and no shares issued and outstanding at December 31, 2017 and 2016, respectively
Common stock, $0.0001 par value, 150,000,000 shares authorized; 53,276,676 and 43,414,687 shares issued and outstanding at December 31, 2017 and 2016, respectively 5,328 4,342
Additional paid-in-capital 8,281,793 5,433,552
Accumulated deficit (10,380,995) (6,129,731)
Total shareholders' deficit (2,093,874) (691,837)
Total liabilities and shareholders' deficit $ 2,071,079 $ 2,342,132