Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash $ 385,360 $ 349,186
Prepaid expenses and other current assets 35,389 50,596
Total current assets 420,749 399,782
Property and equipment, net of accumulated depreciation of $30,627 and $60,242 at September 30, 2016 and December 31, 2015, respectively 18,490 21,798
Other assets 7,180 6,480
Total assets 446,419 428,060
Current liabilities:    
Accounts payable-license agreements 730,626 590,001
Accounts payable and accrued expenses 209,888 182,334
Accrued expenses and accounts payable-related parties 143,151 190,750
Deposits and other current liabilities 4,500 25,000
Convertible debentures, net of discounts of $254,116 and $100,833 at September 30, 2016 and December 31, 2015, respectively 304,744 222,195
Total current liabilities 1,392,909 1,210,280
Commitments and contingencies
Stockholders' deficit    
Common stock, $.001 par value: 300,000,000 shares authorized 197,802,026 and 183,831,577 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively 197,802 183,832
Additional paid-in capital 103,509,548 100,308,100
Accumulated deficit (104,653,840) (101,274,152)
Total stockholders' deficit (946,490) (782,220)
Total liabilities and stockholders' deficit $ 446,419 $ 428,060