NEAH POWER SYSTEMS, INC
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(DRAFT)
ASSETS
"
" " September 30,
2017 " "September 30,
2016"
Current Assets
Cash & cash equivalents $135,035 $60,268
Restricted cash 10,000 10,000
Accounts receivable 3,600,000
Note receivable, net of allowance for uncollectable accounts
of $52,347 - -
Prepaid expenses and other current assets 52,597 39,762
Deferred loan fees - 29,474
Total current assets 3,797,632 139,504
Property and equipment, net 62,557 45,775
Total assets $3,860,189 $185,279
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable $1,120,849 $878,586
Accrued compensation and related expenses 922,746 747,947
Other liabilities 10,000 26,890
Notes payable and accrued interest, net of discount of $0 and $219,518 respectively 118,590 1,128,155
Total current liabilities 2,172,185 2,781,578
Long term liabilities
Notes payable - 94,000
Total liabilities 2,172,185 2,875,578
COMMITMENTS AND CONTINGENCIES (SEE NOTE 7)
Stockholders' deficit
Preferred stock
$0.001par value: 5,000,000 shares authorized
Series B convertible: 2,222,022 shares designated,
1,222,236 and 1,222,236 shares issued and outstanding, respectively
1,222 1,222
Common stock
$0.001 par value, 5,400,000,000 shares authorized
4,165,345,921 and 2,596,508,421 shares issued and outstanding, respectively 4,165,346 2,596,508
Additional paid-in-capital 68,615,626 63,862,010
Accumulated deficit (71,094,190) (69,150,039)
Total stockholders' deficit 1,688,004 (2,690,299)
Total liabilities and stockholders' deficit $3,860,189 $185,279
