Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.19.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets    
Cash and cash equivalents $ 4,412,952 $ 1,853,373
Restricted cash 4,512 4,512
Prepaid expenses 301,812 93,193
Other current assets 2,609 2,609
Total current assets 4,721,885 1,953,687
Property and equipment, net 3,079 3,445
Total assets 4,724,964 1,957,132
Current liabilities    
Accounts payable 168,281 15,597
Accrued payroll and related expenses 56,663 66,213
Accrued expenses 154,932 118,248
Derivative liabilities 28,331,673 15,738,913
Total current liabilities 28,711,549 15,938,971
Noncurrent liabilities    
Convertible multi-draw credit agreement - related party, net of discount 2,914,237 1,360,960
Derivative liabilities, non-current 963,369 219,453
Total liabilities 32,589,155 17,519,384
Commitments and contingencies
Stockholders' deficit    
Convertible preferred stock, $0.001 par value; 20,000,000 shares authorized; none issued and outstanding at March 31, 2019 and December 31, 2018
Common stock, $0.001 par value; 500,000,000 shares authorized; 133,907,747 issued and outstanding at March 31, 2019 and December 31, 2018 133,908 133,908
Additional paid-in-capital 17,987,299 16,230,956
Warrants 2,014,101 1,297,991
Accumulated deficit (47,999,499) (33,225,107)
Total stockholders' deficit (27,864,191) (15,562,252)
Total liabilities and stockholders' deficit $ 4,724,964 $ 1,957,132