v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 3,865,074 $ 6,903,887
Accounts receivable, net 22,018 7,701
Inventory 10,228 12,957
Prepaid expenses 82,021 55,533
Trading securities, at market value 330,631 324,444
Total Current Assets 4,309,972 7,304,522
Property and equipment, net 237,290 274,886
Intangible assets, net 18,606 21,307
Capitalized licensing rights, net 267,500 80,000
Deposit on acquisition 471,574
Other assets 22,299 22,299
TOTAL ASSETS 5,327,241 7,703,014
Current Liabilities:    
Accounts payable and accrued liabilities 183,028 104,871
Related party accounts payable 7,506
Total Current Liabilities 183,028 112,377
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2016 and 2015; 20,000 Class E shares issued and outstanding as of September 30, 2016 and 2015 13 13
Common Stock, $0.0001 par value, 250,000,000 shares authorized 154,708,712 and 151,508,127 shares issued and outstanding as of September 30, 2016 and 2015 15,470 15,151
Additional paid-in capital 32,798,442 31,269,822
Accumulated deficit (27,669,712) (23,694,349)
Total Stockholders' Equity 5,144,213 7,590,637
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 5,327,241 7,703,014
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 September 30, 2016 and 2015; 20,000 Class E shares issued and outstanding as of September 30, 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 September 30, 2016 and 2015; 20,000 Class E shares issued and outstanding as of September 30, 2016 and 2015 2 2
Total Stockholders' Equity 2 2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2 $ 2

Source

v3.5.0.2
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Revenues $ 431,242 $ 450,547 $ 1,137,974 $ 1,223,675
Cost of sales 131,210 155,083 323,830 358,248
Gross Margin 300,032 295,464 814,144 865,427
Expenses        
Labor and related expenses 411,639 270,583 1,301,897 1,303,417
Rent 98,938 101,327 295,169 242,504
Depreciation and amortization 34,872 24,828 110,617 66,812
Professional fees 952,222 166,474 1,493,006 2,288,397
Other general and administrative 619,778 238,781 1,378,023 608,661
Total Operating Expenses 2,117,449 801,993 4,578,712 4,509,791
Operating Loss (1,817,417) (506,529) (3,764,568) (3,644,364)
Other Income (Expense)        
Interest and dividend income 4,442 5,712 14,257 16,699
Unrealized gain (loss) on trading securities (210,877) (227,554) (295,270) (1,314,931)
Gain (loss) on sale of marketable securities 302 (485,928) 74,712 (971,257)
Total Other Expense (206,133) (707,770) (206,301) (2,269,489)
Loss from continuing operations (2,023,550) (1,214,299) (3,970,869) (5,913,853)
Loss from discontinued operations (377,222) (4,494) (603,309)
Net Loss $ (2,023,550) $ (1,591,521) $ (3,975,363) $ (6,517,162)
Loss from continuing operations        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.03) $ (0.04)
Loss on discontinued operations        
Basic and Diluted earnings per share
Net Loss        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.03) $ (0.04)
Weighted Average Common Shares        
Basic and Diluted 154,466,661 153,241,052 153,202,982 151,840,448

Source

v3.5.0.2
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows From Operating Activities:    
Net loss for the period $ (3,975,363) $ (6,517,162)
Adjustments to reconcile net loss to net cash used in operating activities:    
Loss on discontinued operations (4,494) (603,309)
Depreciation and amortization 110,618 66,812
Fair value of vesting warrants and options 25,020 16,564
Common stock issued for employee compensation 253,595 879,183
Common stock issued for professional fees 537,833 1,280,550
Vesting of shares of common stock issued for services 225,917 47,850
Unrealized loss on trading securities (295,270) (1,314,931)
(Gain) loss on sale of trading securities 74,712 (971,257)
(Increase) decrease in accounts receivables 14,317 2,614
Decrease in inventory (2,729) (3,414)
(Increase) decrease in prepaid expenses 26,488 553
Increase in other assets 7,299
Increase (decrease) in accounts payable and accrued liabilities 78,157 84,702
Decrease in related party accounts payable (7,506) (270,000)
Net Cash Used in Operating Activities from Continuing Operations (2,564,753) (1,529,056)
Net Cash Used in Operating Activities from Discontinued Operations (4,494) (601,157)
Net Cash Used in Operating Activities (2,569,247) (2,130,213)
Cash Flows From Investing Activities:    
Purchase of licensing rights 210,000
Purchases of trading securities 510,000
Proceeds from sale of trading securities 283,255 2,576,667
Purchase of property and equipment 47,821 163,995
Purchase of intangible assets 20,202
Net Cash (Used in) Provided by Investing Activities (484,566) 2,392,470
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 15,000
Net Cash Provided by Financing Activities 15,000
Net increase (decrease) in Cash (3,038,813) 262,257
Cash and cash equivalents at beginning of period 6,903,887 6,994,180
Cash and cash equivalents at end of period 3,865,074 7,256,437
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:    
Common stock options granted for acquisition option 471,574
Common stock issued for acquisition of Franklin Networks, Inc. $ 1,700,000

Source