This is a promising excerpt from the recent 10-k release:
As of December 31, 2012, the Company had $10,839 in cash, $261 in accounts receivable, $100,147 in inventory, $14,785 in net fixed assets and $76,422 in pre-paid assets.
Total current liabilities were $8,410,498 as of December 31, 2012, consisting of convertible debt, net, of $730,742, derivative liabilities of $1,520,308, accounts payable and accrued liabilities of $2,210,579, notes payable of $25,778, settlement payable of $1,580,252, rescission liability of $2,183,544 and accounts payable assumed in recapitalization of $159,295.
We had a negative working capital of $8,222,829 as of December 31, 2012.
As a result, our independent registered public accounting firm, in its report dated February 13, 2015, has expressed substantial doubt about our ability to continue as a going concern.
Our average monthly operational expenses have been $370,588 per month for the year ended December 31, 2012.
