v3.7.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 3,204,000 $ 6,904,000
Accounts receivable, net 44,000 8,000
Other receivable 200,000
Inventory 12,000 13,000
Prepaid expenses 50,000 56,000
Trading securities, at market value 59,000 324,000
Total Current Assets 3,569,000 7,305,000
Property and equipment, net 211,000 275,000
Intangible assets, net 18,000 21,000
Capitalized licensing rights, net 40,000 80,000
Other assets 22,000 22,000
TOTAL ASSETS 3,860,000 7,703,000
Current Liabilities:    
Accounts payable and accrued liabilities 176,000 105,000
Related party accounts payable 7,000
Total Current Liabilities 176,000 112,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of December 31, 2016 and 2015; 20,000 Class E shares issued and outstanding as of December 31, 2016 and 2015 13 13
Common Stock, $0.0001 par value, 250,000,000 shares authorized 157,637,026 and 151,508,127 shares issued and outstanding as of December 31, 2016 and 2015 15,763 15,151
Additional paid-in capital 34,752,224 31,269,836
Accumulated deficit (31,084,000) (23,694,000)
Total Stockholders' Equity 3,684,000 7,591,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 3,860,000 7,703,000
Class A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of December 31, 2016 and 2015; 20,000 Class E shares issued and outstanding as of December 31, 2016 and 2015 11 11
Total Stockholders' Equity 11 11
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 11 11
Class E Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of December 31, 2016 and 2015; 20,000 Class E shares issued and outstanding as of December 31, 2016 and 2015 2 2
Total Stockholders' Equity 2 2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2 $ 2

Source

v3.7.0.1
Consolidated Statements Of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]    
Revenues $ 1,552,000 $ 1,597,000
Cost of sales 421,000 473,000
Gross Margin 1,131,000 1,124,000
Expenses    
Labor and related expenses 1,938,000 1,719,000
Rent 424,000 358,000
Depreciation and amortization 166,000 98,000
Professional fees 3,294,000 2,274,000
Research and development 416,000
Cost of acquisition option 472,000
Other general and administrative 1,673,000 656,000
Total Operating Expenses 8,383,000 5,105,000
Operating Loss (7,252,000) (3,981,000)
Other Income (Expense)    
Interest and dividend income 18,000 22,000
Unrealized loss on trading securities (57,000) (1,181,000)
Loss on sale of marketable securities (95,000) (1,460,000)
Total Other Expense (134,000) (2,619,000)
Loss from continuing operations (7,386,000) (6,600,000)
Loss from discontinued operations (4,000) (1,206,000)
Loss on rescission of discontinued operations (1,138,000)
Loss on discontinued operations (4,000) (2,344,000)
Net Loss $ (7,390,000) $ (8,944,000)
Loss from continuing operations    
Basic and Diluted earnings per share $ (0.05) $ (0.04)
Loss on discontinued operations    
Basic and Diluted earnings per share (0.02)
Net Loss    
Basic and Diluted earnings per share $ (0.05) $ (0.06)
Weighted Average Common Shares    
Basic and Diluted 154,092,844 152,346,182

Source

v3.7.0.1
Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash Flows From Operating Activities:    
Net loss $ (7,390,000) $ (8,944,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on discontinued operations (4,000) (2,344,000)
Depreciation and amortization 166,000 98,000
Fair value of vesting warrants and options 199,000
Common stock issued for employee compensation 413,000 796,000
Common stock issued for professional fees 1,951,000 1,265,000
Fair value of options granted for acquisition option 472,000
Vesting of shares of common stock issued for services 273,000 61,000
Unrealized loss on trading securities (57,000) (1,181,000)
Loss on sale of trading securities (95,000) (1,460,000)
Changes in operating assets and liabilities:    
Increase in accounts receivables 36,000 3,000
Increase in other receivables 200,000
Decrease in inventory (1,000) (2,000)
Decrease in prepaid expenses (6,000) (5,000)
Increase in other assets 7,000
Increase in accounts payable and accrued liabilities 71,000 32,000
Decrease in related party accounts payable (7,000) (262,000)
Net Cash Used in Operating Activities from Continuing Operations (3,925,000) (1,972,000)
Net Cash Used in Operating Activities from Discontinued Operations (4,000) (864,000)
Net Cash Used in Operating Activities (3,929,000) (2,836,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 10,000 80,000
Purchases of trading securities 510,000
Proceeds from sale of trading securities 783,000 3,061,000
Purchase of property and equipment 49,000 215,000
Purchase of intangible assets 20,000
Net Cash Provided by Investing Activities 214,000 2,746,000
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 15,000
Net Cash Provided by Financing Activities 15,000
Net decrease in Cash (3,700,000) (90,000)
Cash and cash equivalents at beginning of period 6,904,000 6,994,000
Cash and cash equivalents at end of period 3,204,000 6,904,000
Supplemental Disclosure of Interest and Income Taxes Paid:    
Interest paid during the period
Income taxes paid during the period
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Contributed capital from sale of trading securities 160,000
Common stock issued for acquisition of Franklin Networks, Inc. 1,700,000
Cancellation of common stock due to rescission of Franklin Networks acquisition $ (500,000)

Source