Financials

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Assets    
Cash $ 2,256 $ 5,047
Prepaid expenses 37,336 65,073
Total Current Assets 39,592 70,120
Other Assets    
Fixed assets, net 35,929 54,113
Total Assets 75,521 124,233
Current Liabilities    
Accounts payable and accrued liabilities 2,011,697 1,885,977
Notes payable 50,000 50,000
Derivative liabilities 175,577 280,316
Total Current Liabilities 2,237,274 2,216,293
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; 135,463,171 and 127,463,171 shares issued and outstanding, respectively 135,463 127,463
Additional paid in capital 9,994,963 9,664,168
Accumulated deficit (12,292,179) (11,883,691)
Total stockholders' deficit (2,161,753) (2,092,060)
Total Liabilities and Stockholders' Deficit $ 75,521 $ 124,233
v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenue    
Copyright settlement revenue $ 79,904 $ 68,283
Consulting revenue 81,666
Total revenue 161,570 68,283
Operating expenses:    
Copyright holder fees 39,952 49,142
Sales and marketing 991 1,347
General and administrative 614,586 961,105
Depreciation and amortization 18,184 22,816
Total operating expenses 673,713 1,034,410
Loss from operations (512,143) (966,127)
Other income (expenses):    
Interest expense (1,084)
Change in fair value of derivative liabilities 104,739 181,947
Total other income (expenses) 103,655 181,947
Net loss $ (408,488) $ (784,180)
Net loss per share – basic and diluted $ (0.00) $ (0.01)
Weighted average common shares – basic 132,529,838 113,808,721
v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities    
Net loss $ (408,488) $ (784,180)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and Amortization 18,184 22,816
Fair value of shares issued for services 268,000
Fair value of stock-based compensation 70,795 368,570
Change in fair value of derivative liabilities (104,739) (181,947)
Prepaid expense 27,737 29,336
Accounts payable and accrued liabilities 125,720 32,735
Net cash used in operating activities (2,791) (512,670)
Cash Flows from Financing Activities    
Proceeds from issuance of common stock 500,000
Net cash provided by financing activities 500,000
Net increase (decrease) in cash (2,791) (12,670)
Cash, beginning of period 5,047 193,014
Cash, end of period 2,256 180,344
Supplemental disclosure of cash flow information:    
Advances applied to accrued settlement $ 200,000