v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,296,000 $ 3,204,000
Accounts receivable, net 48,000 44,000
Other receivable 100,000 200,000
Inventory 8,000 12,000
Prepaid expenses 52,000 50,000
Trading securities, at market value 44,000 59,000
Total Current Assets 2,548,000 3,569,000
Property and equipment, net 184,000 211,000
Intangible assets, net 17,000 18,000
Capitalized licensing rights, net 38,000 40,000
Other assets 22,000 22,000
TOTAL ASSETS 2,809,000 3,860,000
Current Liabilities:    
Accounts payable and accrued liabilities 222,000 176,000
Total Current Liabilities 222,000 176,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of March 31, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of March 31, 2017 and December 31, 2016 13 13
Common Stock, $0.0001 par value, 250,000,000 shares authorized 160,447,026 and 157,637,026 shares issued and outstanding as of March 31, 2017 and December 31, 2016 16,044 15,763
Additional paid-in capital 37,111,943 34,752,224
Accumulated deficit (34,541,000) (31,084,000)
Total Stockholders' Equity 2,587,000 3,684,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 2,809,000 3,860,000
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 March 31, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of March 31, 2017 and December 31, 2016 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 March 31, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of March 31, 2017 and December 31, 2016 2 2
Total Stockholders' Equity 2 2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2 $ 2

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v3.7.0.1
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Income Statement [Abstract]    
Revenues $ 364,000 $ 332,000
Cost of sales 99,000 97,000
Gross Margin 265,000 235,000
Expenses    
Labor and related expenses 1,493,000 553,000
Rent 99,000 104,000
Depreciation and amortization 30,000 38,000
Professional fees 1,592,000 219,000
Research and development 113,000 75,000
Other general and administrative 383,000 210,000
Total Operating Expenses 3,710,000 1,199,000
Operating Loss (3,445,000) (964,000)
Other Income (Expense)    
Interest and dividend income 3,000 5,000
Unrealized (loss) gain on trading securities (15,000) 101,000
Gain on sale of marketable securities 49,000
Total Other (Expense) Income (12,000) 155,000
Loss from continuing operations (3,457,000) (809,000)
Loss on discontinued operations (4,000)
Net Loss $ (3,457,000) $ (813,000)
Loss from continuing operations    
Basic and Diluted earnings per share $ (0.02) $ (0.01)
Loss on discontinued operations    
Basic and Diluted earnings per share
Net Loss    
Basic and Diluted earnings per share $ (0.02) $ (0.01)
Weighted Average Common Shares    
Basic and Diluted 159,333,637 152,289,857

Source

v3.7.0.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities:    
Net loss for the period $ (3,457,000) $ (813,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on discontinued operations (4,000)
Depreciation and amortization 30,000 38,000
Fair value of vesting warrants and options 402,000
Common stock issued for employee compensation 847,000 200,000
Common stock issued for professional fees 1,065,000 52,000
Vesting of shares of common stock issued for services 46,000 6,000
Unrealized loss on trading securities (15,000) 101,000
(Gain) loss on sale of trading securities 49,000
(Increase) decrease in accounts receivables 4,000 20,000
Decrease (Increase) in other receivables (100,000)
Decrease in inventory (4,000) (3,000)
(Increase) decrease in prepaid expenses 2,000 (15,000)
Increase (decrease) in accounts payable and accrued liabilities 46,000 34,000
Decrease in related party accounts payable (8,000)
Net Cash Used in Operating Activities from Continuing Operations (908,000) (639,000)
Net Cash Used in Operating Activities from Discontinued Operations (4,000)
Net Cash Used in Operating Activities (908,000) (643,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 10,000
Purchases of trading securities 510,000
Proceeds from sale of trading securities 189,000
Purchase of property and equipment 40,000
Net Cash (Used in) Provided by Investing Activities (371,000)
Net decrease in Cash (908,000) (1,014,000)
Cash and cash equivalents at beginning of period 3,204,000 6,904,000
Cash and cash equivalents at end of period 2,296,000 5,890,000
Supplemental Disclosure of Interest and Income Taxes Paid:    
Interest paid during the period
Income taxes paid during the period

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