Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 2,878 $ 1,476,774
Accounts receivable 5,994 20,818
Prepaid expenses and other current assets 509,377 978,371
Deferred expenses, current 0 97,409
Total current assets 518,249 2,573,372
Property and equipment, net 0 8,260
Patents, net 0 7,158,941
Intangible assets, net 0 273,083
Investment in INVT SPE LLC 42,962,899 0
Goodwill 0 8,858,504
Deposits and other assets 20,858 18,993
Total assets 43,502,006 18,891,153
Current liabilities    
Accounts payable 2,007,288 1,639,630
Accrued expenses and other current liabilities 566,986 172,441
Short-term loan payable, related parties 530,000 0
Guaranteed payments, current 2,200,000 2,200,000
Senior notes payable, current 0 8,144,306
Deferred revenue 0 400,000
Total current liabilities 5,304,274 12,556,377
Deferred revenue, non-current 0 846,429
Senior revenue share, net of discount 0 3,948,153
Total liabilities 5,304,274 17,350,959
Commitments and Contingencies (Note 7)
Stockholders' equity    
Common stock, $0.001 par value; 100,000,000 shares authorized, 18,607,779 shares and 11,532,235 shares issued and outstanding at September 30, 2017 and December 31, 2016 18,608 11,532
Additional paid-in capital 64,856,587 64,532,323
Accumulated deficit (26,677,465) (63,003,664)
Total stockholders' equity 38,197,732 1,540,194
Total liabilities and stockholders' equity 43,502,006 18,891,153
Series C Convertible Preferred Stock [Member]    
Stockholders' equity    
Preferred stock, $0.001 par value, 10,000,000 shares authorized 0 0
Series D Convertible Preferred Stock [Member]    
Stockholders' equity    
Preferred stock, $0.001 par value, 10,000,000 shares authorized 0 0
Series E Convertible Preferred Stock [Member]    
Stockholders' equity    
Preferred stock, $0.001 par value, 10,000,000 shares authorized $ 2 $ 3