Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash $ 165,855 $ 294,561
Inventories 193,829 167,059
Prepaid expenses and deposits 211,178 119,061
Other receivables 266,992 1,326
TOTAL CURRENT ASSETS 837,854 582,007
FIXED ASSETS:    
Furniture and equipment, net 191,617 143,967
OTHER ASSETS:    
Intangible assets, net 2,390,170 2,753,585
Goodwill 1,140,246 1,140,246
TOTAL OTHER ASSETS 3,530,416 3,893,831
TOTAL ASSETS 4,559,887 4,619,805
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 5,706,957 4,997,218
Derivative liabilities 3,154,068 1,868,439
Notes payable, net of debt discount 1,580,281 2,883,264
TOTAL CURRENT LIABILITIES 10,441,306 9,748,921
COMMITMENTS AND CONTINGENCIES  
STOCKHOLDERS' DEFICIT    
Common stock, $.001 par value, 600,000,000 shares authorized; 408,412,567 and 298,097,334 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively 408,413 298,096
Capital in excess of par value 23,305,884 19,265,220
Accumulated deficit (30,158,656) (25,260,274)
Accumulated other comprehensive income 35,225 30,275
Non-controlling interest 527,715 537,567
TOTAL STOCKHOLDERS' DEFICIT (5,881,419) (5,129,116)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 4,559,887 $ 4,619,805