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v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 175,504 $ 102,698
Inventory 157,956 114,031
Total current assets 333,460 216,729
Tooling in process 173,854 173,854
Property and equipment, net 20,589 26,748
Other assets 18,983 18,983
Total assets 546,886 436,314
Current liabilities:    
Accounts payable 1,168,852 1,101,853
Customer deposits 155,752 69,330
Accrued liabilities 734,179 692,071
Current portion of leases payable 2,756 2,756
Due to related party 1,075 1,075
Convertible notes payable, current, net of debt discount 595,499 436,177
Derivative liability 1,253,732 1,222,186
Preferred shares liability 2,850,401 2,850,401
Warrant liability 4,851,348 6,267,426
Total current liabilities 11,613,594 12,643,275
Total liabilities 11,613,594 12,643,275
Redeemable Series B Preferred stock, $0.001 par value; 10,000,000 shares authorized 107,000 and 107,000 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively 2,033,000 2,033,000
Commitments and contingencies
Stockholders' deficit:    
Series A Preferred stock, $0.001 par value; 51 shares authorized 51 and 51 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively
Common stock, $0.001 par value, 10,000,000,000 shares authorized; 4,070,747,508 and 3,905,200,946 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively 4,070,747 3,905,201
Additional paid-in capital 22,500,405 21,820,069
Accumulated deficit (39,670,860) (39,965,231)
Total stockholders' deficit (13,099,708) (14,239,961)
Total liabilities and stockholders' deficit $ 546,886 $ 436,314

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v3.19.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Sales    
Product revenue $ 1,251 $ 66,844
Product service revenue 288 5,455
Licensing revenue 4,130
Total sales 1,539 76,429
Cost of goods sold    
Product costs 16,883 26,338
Total cost of sales 16,883 26,338
Gross profit (15,344) 50,091
Operating Expenses    
Research and development 13,935 233,090
Sales and marketing 54,290 52,253
General and administrative 426,922 245,647
Total operating expenses 495,147 530,990
Loss from operations (510,491) (480,899)
Other income (expense)    
Interest expense, net (146,353) (8,751)
Change in fair value of derivative liability 135,244 1,519,057
Change in fair value of warrant liability 815,970
Derivative expense (154,002)
Gain on settlement of debt 4,500
Total Other income (expense) 804,861 1,360,804
Income before provision for income taxes 294,370 879,905
Provision for income taxes
Net Income 294,370 879,905
Dividends 10,700
Net Income attributable to common shareholders $ 879,905 $ 283,670
Loss per share    
Basic $ (0.00) $ 0
Diluted $ (0.00) $ 0
Weighted average common shares outstanding - basic 4,043,156,414 1,878,730,874
Weighted average common shares outstanding - diluted 7,797,250,837 5,320,872,536

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v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 294,370 $ 879,905
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 6,159 18,893
Common stock issued in exchange for services 150,000
Change in fair value of derivative liability (135,244) (1,519,057)
Change in fair value of warrant liability (815,970)
Derivative expense 154,002
Gain on settlement of vendor liabilities (4,500)
Stock based compensation 245,775 151,971
Interest expense related to amortization of debt issuance costs and debt discount 126,112
Changes in assets and liabilities:    
Inventory (43,925) 10,071
Prepaid expenses and other assets 6,918
Tooling in process (137,641)
Accounts payable and accrued liabilities 109,107 358,431
Customer deposits 86,422 (431)
Net cash used in operating activities (127,194) (81,438)
Cash flows from financing activities    
Proceeds from note payable, net of issuance costs 200,000
Net cash provided by financing activities 200,000
Net change in cash 72,806 (81,438)
Cash, beginning of period 102,698 119,028
Cash, end of period 175,504 37,590
Supplemental cash flow information:    
Interest paid 13,755
Taxes paid
Supplemental disclosure of non-cash investing and financing activities:    
Stock issued for settlement of vendor liabilities 25,500
Reclassification of warrant liability to additional paid-in capital upon exercise of warrant $ 845,883

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