Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 1,630,847 $ 4,536,601
Inventory - raw materials 137,500  
Prepaid expenses and other current assets 166,221 $ 11,906
Total current assets 1,934,568 4,548,507
Non-current assets    
Property and equipment, net 1,427,848 245,641
Intellectual property, net 980,960 1,028,554
Total non-current assets 2,408,808 1,274,195
Total assets 4,343,376 5,822,702
Current liabilities    
Accounts payable 176,861 40,306
Accrued expenses 62,492 12,292
Accrued interest 244,110 65,589
Convertible notes, net 5,545,295 5,090,589
Total current liabilities 6,028,758 5,208,776
Derivative liabilities 6,884,100 1,384,782
Total liabilities $ 12,912,858 $ 6,593,558
Commitments and contingencies    
Stockholders' equity (deficit)    
Common stock; $0.001 par; 50,000,000 shares authorized; 4,363,641 shares issued and outstanding $ 4,364 $ 4,364
Additional paid-in capital 1,680,133 1,598,531
Accumulated deficit (10,253,979) (2,373,751)
Total stockholders' deficit (8,569,482) (770,856)
Total liabilities and stockholders' deficit $ 4,343,376 $ 5,822,702