Financials

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v3.7.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 133,751 $ 38,203
Accounts receivable 27,851 27,851
Inventory 147,012 155,233
Prepaid expenses and other current assets 78,448 79,965
Total current assets 387,062 301,252
Property and equipment, net 117,836 138,883
Other assets 49,845 49,845
Total assets 554,743 489,980
Current liabilities:    
Asset based loans 65,975 120,460
Accounts payable 1,237,457 1,082,384
Customer deposits 178,319 16,767
Accrued liabilities 106,494 131,563
Current portion of leases payable 3,283 3,480
Due to related party 26,075 1,075
Convertible notes payable, current, net of debt discount 13,452 233,147
Derivative liability 4,811,419 1,812,441
Warrant liability 247,203
Total current liabilities 6,442,474 3,648,520
Convertible note payable - related party 200,000
Notes payable 200,000
Total liabilities 6,642,474 3,848,520
Commitments and contingencies (Note 11)
Stockholders' deficit:    
Common stock, $0.001 par value, 10,000,000,000 shares authorized; 1,546,329,348 and 645,060,704 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 1,546,329 645,061
Additional paid-in capital 24,371,942 22,395,552
Accumulated deficit (32,006,302) (26,399,453)
Total stockholders' deficit (6,087,731) (3,358,540)
Total liabilities and stockholders' deficit 554,743 489,980
Series A Preferred stock    
Stockholders' deficit:    
Preferred stock
Series B Preferred stock    
Stockholders' deficit:    
Preferred stock $ 300 $ 300

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v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Sales    
Product revenue $ 85,391 $ 161,258
Total sales 85,391 161,258
Cost of goods sold
Product costs 33,848 91,326
Total cost of sales 33,848 91,326
Gross profit 51,543 69,932
Operating Expenses    
Research and development 20,283 95,207
Sales and marketing 197,046 145,293
General and administrative 561,027 354,312
Total operating expenses 778,356 594,812
Loss from operations (726,813) (524,880)
Other expense    
Interest expense, net (270,006) 18,830
Change in fair value of derivative liability (4,005,242)
Derivative expense (731,347)
Gain on settlement of liabilities 126,559
Loss before provision for income taxes (5,606,849) (543,710)
Provision for income taxes 800
Net loss $ (5,606,849) $ (544,510)
Basic and diluted loss per common share $ (0.01) $ (0.02)
Weighted average shares used in computing net loss per common share basic and diluted 1,120,023,451 22,182,752

Source

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (5,606,849) $ (544,510)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 21,047 21,346
Common stock issued in exchange for services 76,300 65,550
Change in fair value of derivative liability 4,005,242
Derivative expense 731,347
Gain on settlement of accrued payroll (44,005)
Gain on settlement of vendor liabilities (82,554)
Stock based compensation 245,225 148,316
Interest expense related to amortization of debt issuance costs and debt discount 251,670 11,654
Changes in assets and liabilities:    
Accounts receivable (14,421)
Inventory 8,221 78,387
Prepaid expenses and other assets 1,517 42,219
Accounts payable and accrued liabilities 261,017 (16,728)
Long term obligations 161,552 (725)
Current portion leases payable (197)
Net cash used in operating activities 29,533 (208,912)
Cash flows from financing activities    
Proceeds from the issuance of common stock 95,500
Proceeds from related party 25,000
Proceeds from the issuance of convertible notes payable, net of issuance costs 100,000
Repayments on asset based loans (54,485)
Net cash provided by financing activities 66,015 100,000
Net increase / (decrease) in cash 95,548 (108,912)
Cash, beginning of period 38,203 143,680
Cash, end of period 133,751 34,768
Supplemental cash flow information:    
Interest paid 8,400 18,831
Taxes paid 800
Supplemental disclosure of non-cash investing and financing activities:    
Settlement of debt with convertible note 525,538
Derivative cease to exist upon conversion of notes $ 1,852,888

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