Financials

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Assets    
Cash $ 6,653 $ 193,014
Prepaid expenses 36,065 100,230
Total Current Assets 42,718 293,244
Other Assets    
Fixed assets, net 74,878 142,520
Total Assets 117,596 435,764
Current Liabilities    
Accounts payable and accrued liabilities 1,876,453 1,407,864
Notes payable 50,000
Derivative liabilities 348,005 1,210,430
Total Current Liabilities 2,274,458 2,618,294
Stockholders’ Deficit    
Preferred stock, $.001 par value; 10,000,000 shares authorized; null shares issued and outstanding
Common stock, $.001 par value; 250,000,000 shares authorized; 123,795,314 and 107,215,314 shares issued and outstanding, respectively 123,795 107,215
Additional paid in capital 9,627,985 8,238,199
Accumulated deficit (11,908,642) (10,527,944)
Total stockholders’ deficit (2,156,862) (2,182,530)
Total Liabilities and Stockholders’ Deficit $ 117,596 $ 435,764
v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Revenue $ 139,834 $ 215,196 $ 354,160 $ 756,916
Operating expenses:        
Copyright holder fees 69,143 107,598 174,878 378,458
Sales and marketing 337 5,396 2,371 19,640
General and administrative 386,865 1,116,589 1,939,982 3,967,527
Depreciation and amortization 22,337 28,537 67,643 86,490
Total operating expenses 478,682 1,258,120 2,184,874 4,452,115
Loss from operations (338,848) (1,042,924) (1,830,714) (3,695,199)
Other income (expenses):        
Interest expense (17,789) (4,948) (17,789) (5,490)
Change in fair value of derivative liabilities (28,796) 623,704 467,805 580,492
Total other income (expenses) (46,585) 618,756 450,016 575,002
Net loss $ (385,433) $ (424,168) $ (1,380,698) $ (3,120,197)
Net loss per share – basic and diluted $ 0 $ 0 $ (0.01) $ (0.03)
Weighted average common shares – basic and diluted 123,034,444 91,947,241 118,761,080 91,271,146
v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operating Activities    
Net loss $ (1,380,698) $ (3,120,197)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and Amortization 67,643 86,490
Fair value of stock-based compensation 429,255 714,882
Change in fair value of derivative liabilities (467,805) (580,492)
Fair value of warrants issued with note payable 16,691
Prepaid expense 64,165 112,874
Accounts payable and accrued liabilities 468,589 1,002,864
Net cash used in operating activities (802,161) (1,783,579)
Cash Flows from Financing Activities    
Repayment of convertible notes (10,000)
Payments on note payable (43,988)
Proceeds from issuance of common stock for cash 500,000 1,032,000
Proceeds from issuance of notes payable 50,000
Exercise of warrant 65,800
Net cash provided by financing activities 615,800 978,012
Net decrease in cash (186,361) (805,567)
Cash, beginning of period 193,014 1,666,914
Cash, end of period $ 6,653 $ 861,347