v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 1,303,000 $ 3,204,000
Accounts receivable, net 21,000 31,000
Other receivable 200,000
Prepaid expenses 69,000 25,000
Trading securities, at market value 32,000 59,000
Current assets of discontinued operations 4,000 50,000
Total Current Assets 1,429,000 3,569,000
Property and equipment, net 158,000 181,000
Intangible assets, net 16,000 18,000
Capitalized licensing rights, net 295,000 40,000
Other assets 5,000 5,000
Non-current assets of discontinued operations 8,000 47,000
TOTAL ASSETS 1,911,000 3,860,000
Current Liabilities:    
Accounts payable and accrued liabilities 139,000 118,000
Minimum Guaranteed Royalties Payable - current 100,000
Current liabilities of discontinued operations 37,000 58,000
Total Current Liabilities 276,000 176,000
Minimum Guaranteed Royalties Payable - non-current 25,000
Total Liabilities 301,000 176,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of June 30, 2017 and December 31, 2016 13 13
Common Stock, $0.0001 par value, 250,000,000 shares authorized 162,352,026 and 157,637,026 shares issued and outstanding as of June 30, 2017 and December 31, 2016 16,235 15,763
Additional paid-in capital 38,390,752 34,752,224
Accumulated deficit (36,797,000) (31,084,000)
Total Stockholders' Equity 1,610,000 3,684,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 1,911,000 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 June 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of June 30, 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 June 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of June 30, 2017 and December 31, 2016 2 2
Total Stockholders' Equity 2 2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2 $ 2

Source

v3.7.0.1
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Revenues $ 32,000 $ 30,000 $ 84,000 $ 65,000
Expenses        
Labor and related expenses 308,000 220,000 1,678,000 656,000
Rent 49,000 35,000 87,000 67,000
Depreciation and amortization 30,000 20,000 45,000 39,000
Professional fees 1,300,000 319,000 2,892,000 538,000
Research and development 152,000 108,000 265,000 183,000
Other general and administrative 370,000 313,000 703,000 474,000
Total Operating Expenses 2,209,000 1,015,000 5,670,000 1,957,000
Operating Loss (2,177,000) (985,000) (5,586,000) (1,892,000)
Other Income (Expense)        
Interest and dividend income 1,000 5,000 4,000 10,000
Unrealized loss on trading securities (12,000) (185,000) (27,000) (84,000)
Gain on sale of marketable securities 25,000 74,000
Total Other Expense (11,000) (155,000) (23,000)
Loss from continuing operations (2,188,000) (1,140,000) (5,609,000) (1,892,000)
Income (Loss) on discontinued operations (68,000) 1,000 (104,000) (60,000)
Net Loss $ (2,256,000) $ (1,139,000) $ (5,713,000) $ (1,952,000)
Loss from continuing operations        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.04) $ (0.01)
Loss on discontinued operations        
Basic and Diluted earnings per share
Net Loss        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.04) $ (0.01)
Weighted Average Common Shares        
Basic and Diluted 160,846,474 152,564,198 160,321,114 152,838,539

Source

v3.7.0.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities:    
Net loss for the period $ (5,713,000) $ (1,952,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 45,000 39,000
Fair value of vesting warrants and options 537,000
Common stock issued for employee compensation 847,000 200,000
Common stock issued for professional fees 1,909,000 70,000
Vesting of shares of common stock issued for services 46,000 68,000
Unrealized loss on trading securities (27,000) (84,000)
Gain on sale of trading securities 74,000
(Increase) decrease in accounts receivables (10,000) 13,000
Decrease in other receivables (100,000)
Increase in prepaid expenses 44,000 36,000
Increase (Decrease) in accounts payable and accrued liabilities 21,000 (21,000)
Decrease in related party accounts payable (7,000)
Net Cash Used in Operating Activities from Continuing Operations (2,215,000) (1,642,000)
Net Cash Provided by Operating Activities from Discontinued Operations 64,000 25,000
Net Cash Used in Operating Activities (2,151,000) (1,617,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 50,000 10,000
Purchases of trading securities 510,000
Proceeds from sale of trading securities 280,000
Purchase of property and equipment 48,000
Net Cash Used in Investing Activities (50,000) (288,000)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 300,000 15,000
Net Cash Provided by Financing Activities 300,000 15,000
Net decrease in Cash (1,901,000) (1,890,000)
Cash and cash equivalents at beginning of period 3,204,000 6,904,000
Cash and cash equivalents at end of period 1,303,000 5,014,000
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:    
Reclassification of other assets to capitalized licensing rights 100,000
Minimum guaranteed royalties payable 125,000
Common stock issued for acquisition of Franklin Networks, Inc.

Source