Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 108,859 $ 64,820
Restricted cash 37,500 37,500
Prepaid expenses 292,485 170,155
Other current assets 6,183 7,014
Total current assets 445,027 279,489
Property and equipment, net 4,729 9,584
Other assets    
Deposits and other assets 34,290 34,290
Total other assets 34,290 34,290
Total assets 484,046 323,363
Current liabilities    
Accounts payable 679,494 274,650
Accrued payroll and related expenses 282,166 167,337
Accrued expenses 201,110 98,700
Provision for conversion of Series B preferred stock 25,051 118,821
Deferred rent 817 2,450
Total current liabilities 1,188,638 661,958
Noncurrent liabilities    
Series B warrants 1,073,310 1,112,308
Total noncurrent liabilities 1,073,310 1,112,308
Total liabilities 2,261,948 1,774,266
Commitments and contingencies (Note 3)
Stockholders' deficit    
Common stock, $0.001 par value; 236 million shares authorized; 30,334,663 issued and outstanding as of June 30, 2017 and 21,563,163 issued and outstanding as of December 31, 2016 30,335 21,563
Additional paid-in-capital 8,982,540 7,163,064
Warrants 982,911 837,711
Accumulated deficit (12,922,554) (10,936,573)
Total stockholders' deficit (2,926,768) (2,914,235)
Total liabilities and stockholders' deficit 484,046 323,363
Redeemable Convertible Series B Preferred Stock    
Noncurrent liabilities    
Redeemable Convertible Preferred Stock, value 979,420 1,169,663
Series C preferred stock    
Noncurrent liabilities    
Redeemable Convertible Preferred Stock, value   $ 293,669
Series D Preferred Stock    
Noncurrent liabilities    
Redeemable Convertible Preferred Stock, value $ 169,446