v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 285,000 $ 3,204,000
Accounts receivable, net 12,000 31,000
Other receivable 200,000
Prepaid expenses 56,000 25,000
Trading securities, at market value 22,000 59,000
Current assets of discontinued operations 50,000
Total Current Assets 375,000 3,569,000
Property and equipment, net 146,000 181,000
Intangible assets, net 13,000 18,000
Capitalized licensing rights, net 265,000 40,000
Other assets 16,000 5,000
Non-current assets of discontinued operations 8,000 47,000
TOTAL ASSETS 823,000 3,860,000
Current Liabilities:    
Accounts payable and accrued liabilities 186,000 118,000
Minimum Guaranteed Royalties Payable 75,000
Loan Payable - Related Party 200,000
Current liabilities of discontinued operations 35,000 58,000
Total Current Liabilities 496,000 176,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of September 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of September 30, 2017 and December 31, 2016 13 13
Common Stock, $0.0001 par value, 750,000,000 shares authorized 171,991,859 and 157,637,026 shares issued and outstanding as of September 30, 2017 and December 31, 2016 17,199 15,763
Additional paid-in capital 40,260,788 34,752,224
Accumulated deficit (39,951,000) (31,084,000)
Total Stockholders' Equity 327,000 3,684,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 823,000 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 September 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of September 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 September 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of September 30, 2017 and December 31, 2016 2 2
Total Stockholders' Equity 2 2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2 $ 2

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v3.8.0.1
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Income Statement [Abstract]        
Revenues $ 26,000 $ 23,000 $ 110,000 $ 88,000
Expenses        
Labor and related expenses 387,000 293,000 2,065,000 949,000
Rent 51,000 37,000 138,000 104,000
Depreciation and amortization 44,000 20,000 89,000 59,000
Professional fees 2,000,000 950,000 4,892,000 1,488,000
Software development costs 542,000 390,000 1,202,000 760,000
Other general and administrative 118,000 176,000 426,000 463,000
Total Operating Expenses 3,142,000 1,866,000 8,812,000 3,823,000
Operating Loss (3,116,000) (1,843,000) (8,702,000) (3,735,000)
Other Income (Expense)        
Interest and dividend income 4,000 4,000 14,000
Unrealized loss on trading securities (10,000) (211,000) (37,000) (295,000)
Gain on sale of marketable securities 1,000 75,000
Total Other Expense (10,000) (206,000) (33,000) (206,000)
Loss from continuing operations (3,126,000) (2,049,000) (8,735,000) (3,941,000)
Income (Loss) on discontinued operations (28,000) 26,000 (132,000) (34,000)
Net Loss $ (3,154,000) $ (2,023,000) $ (8,867,000) $ (3,975,000)
Loss from continuing operations        
Basic and Diluted earnings per share $ (0.02) $ (0.01) $ (0.05) $ (0.03)
Loss on discontinued operations        
Basic and Diluted earnings per share
Net Loss        
Basic and Diluted earnings per share $ (0.02) $ (0.01) $ (0.05) $ (0.03)
Weighted Average Common Shares        
Basic and Diluted 166,052,129 154,466,661 162,287,753 153,202,982

Source

v3.8.0.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities:    
Net loss for the period $ (8,867,000) $ (3,975,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 90,000 59,000
Fair value of vesting warrants and options 647,000 25,000
Common stock issued for employee compensation 999,000 253,000
Common stock issued for compensation 3,518,000 538,000
Vesting of shares of common stock issued for services 46,000 226,000
Unrealized loss on trading securities (37,000) (295,000)
Gain on sale of trading securities 75,000
(Increase) decrease in accounts receivables (19,000) 11,000
Decrease in other receivables (100,000)
Increase in prepaid expenses 31,000 21,000
Increase in other assets 11,000
Increase in accounts payable and accrued liabilities 68,000 82,000
Decrease in related party accounts payable (7,000)
Net Cash Used in Operating Activities from Continuing Operations (3,385,000) (2,611,000)
Net Cash Provided by Operating Activities from Discontinued Operations 66,000 42,000
Net Cash Used in Operating Activities (3,319,000) (2,569,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 100,000 210,000
Purchases of trading securities 510,000
Proceeds from sale of trading securities 283,000
Purchase of property and equipment 48,000
Net Cash Used in Investing Activities (100,000) (485,000)
Cash Flows From Financing Activities:    
Proceeds from short-term loan payable - related party 200,000
Proceeds from sale of common stock 300,000 15,000
Net Cash Provided by Financing Activities 500,000 15,000
Net decrease in Cash (2,919,000) (3,039,000)
Cash and cash equivalents at beginning of period 3,204,000 6,904,000
Cash and cash equivalents at end of period 285,000 3,865,000
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 $ 75,000

Source