Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash $ 311,213 $ 225,379
Escrow fund 20,469 79,855
Deposit on contract 75,000
Prepaid expenses and other current assets 210,621 119,545
Total current assets 542,303 499,779
Other Assets:    
Property and equipment, net 35,583 38,735
Deposit 41,876 44,876
Total Assets 619,762 583,390
Current Liabilities:    
Accounts payable and accrued expenses 91,211 34,450
Convertible notes payable, net of discount 622,622
Convertible note payable - related party, net of idscount 95,788
Accrued interest 28,936
Total current liabilities 838,557 34,450
Long Term Liabilities:    
Derivative liabilities 1,768,897 4,392,075
Total long term liabilities 1,768,897 4,392,075
Total liabilities 2,607,454 4,426,525
Commitments and Contingencies  
Mezzanine Equity    
Preferred Series A stock, par value $.01 per share, 134,000 shares authorized; 133,334 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively. Stated at redemption value. 1,500,004 1,500,004
Shareholders' Equity/(Deficit):    
Preferred Stock, par value $.01, 10,000,000 shares authorized all series [1] 172 210
Obligation to issue common stock 25
Common stock, par value $.001 per share, 500,000,000 shares authorized; 45,081,128 and 44,520,065 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 45,081 44,520
Additional paid-in capital (1,092,281) (1,518,484)
Accumulated deficit (2,440,693) (3,869,385)
Total shareholders' equity/(deficit) (3,487,696) (5,343,139)
Total Liabilities and Shareholders' Equity/(Deficit) $ 619,762 $ 583,390
[1] Preferred Series A-1 stock, par value $.01 per share, 21,000 shares authorized; 16,560 and 20,371 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively; Preferred Series B stock, par value $.01 per share, 300,000 shares authorized; no shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively; Preferred Series C stock, par value $.01 per share, 602 and 615 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively.