v3.7.0.1
CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 1,244,126 $ 1,055,895
Prepaid expenses 161,777 134,263
Total current assets 1,405,903 1,190,158
Property and equipment, net 22,739 24,188
Other assets:    
Deposits 27,612 27,612
Total assets 1,456,254 1,241,958
Current liabilities:    
Accounts payable and accrued expenses, including $15,755 and $12,716 to related parties as of December 31, 2016 and 2015, respectively 582,048 373,103
Dividends payable 383,636 359,891
Warrant liability 2,302,275 1,937,234
Derivative liability 297,504 288,934
Total current liabilities 3,565,463 2,959,162
Convertible Preferred Stock 1,070,000 1,070,000
Stockholders’ deficit    
Preferred stock, $0.001 par value, authorized 1,000,000 shares, designated 200 shares of Series A, 600 shares of Series B and 4,200 shares of Series C Preferred Stock 0 0
Common stock, $0.001 par value, authorized 200,000 and 50,000,000 shares, 22,588,184 and 16,825,703 issued and outstanding as of December 31, 2016 and 2015, respectively 24,406 22,588
Additional paid in capital 43,898,053 41,019,251
Accumulated deficit (47,101,668) (43,829,043)
Total stockholders’ deficit (3,179,209) (2,787,204)
Total liabilities and stockholders’ deficit $ 1,456,254 $ 1,241,958

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