Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues $ 0 $ 106,095 $ 1,256,608 $ 1,674,275
Operating Expenses        
Cost of revenues 0 35,736 370,492 356,750
Patent amortization expense 0 377,746 503,660 1,133,235
General and administrative 711,047 1,620,311 2,788,060 5,006,810
Total operating expenses 711,047 2,033,793 3,662,212 6,496,795
Loss from operations (711,047) (1,927,698) (2,405,604) (4,822,520)
Other income (expense)        
Gain on debt extinguishment 0 0 40,802,730 2,434,661
Decrease in fair value of derivative liabilities 0 330 0 948
Interest expense, net (97,385) (867,713) (2,070,927) (2,867,741)
Total other income (expense), net (97,385) (867,383) 38,731,803 (432,132)
Net income (loss) (808,432) (2,795,081) 36,326,199 (5,254,652)
Deemed dividend on preferred stock 0 0 0 (466,667)
Net income (loss) attributable to common shareholders $ (808,432) $ (2,795,081) $ 36,326,199 $ (5,721,319)
Basic income (loss) per share $ (0.05) $ (0.57) $ 2.61 $ (1.26)
Fully diluted income (loss) per share $ (0.05) $ (0.57) $ 0.67 $ (1.26)
Weighted average shares outstanding:        
Basic 16,868,702 4,910,740 13,911,880 4,529,568
Fully diluted 16,868,702 4,910,740 54,184,893 4,529,568