XML 25 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash and cash equivalents $ 17,353,866 $ 3,338,979
Prepaid expenses and other current assets 81,099 182,930
Deferred finance costs   745,039
TOTAL CURRENT ASSETS 17,434,965 4,266,948
PROPERTY AND EQUIPMENT    
Fixed assets 771,807 231,120
Less: Accumulated depreciation and amortization (73,581) (7,360)
PROPERTY AND EQUIPMENT NET 698,226 223,760
NONCURRENT ASSETS    
Patents and domain names, net 435,396 379,703
Other assets 11,782 11,782
TOTAL NONCURRENT ASSETS 447,178 391,485
TOTAL ASSETS 18,580,369 4,882,193
CURRENT LIABILITIES    
Accounts payable 640,064 91,974
Accrued expenses 24,360 163,375
Accrued salaries and payroll related expenses 98,193 13,504
Derivative liabilities   5,056,502
Convertible notes   7,740,843
TOTAL CURRENT LIABILITIES 762,617 13,066,198
LONG-TERM LIABILITIES    
Warrants 4,838,199 3,276,084
Other liabilities 67,783 3,876
TOTAL LIABILITIES 5,668,599 16,346,158
Commitments and contingencies (Note 7)      
STOCKHOLDERS EQUITY (DEFICIT)    
Common stock, $0.001 par value, 10,000,000 authorized and 999,999 outstanding as of December 31, 2013, and 47,000,000 authorized and 6,897,695 outstanding as of June 30, 2014 6,897 1,000
Preferred stock, $0.001 par value, none authorized or outstanding as of December 31, 2013, and 3,000,000 authorized and none outstanding as of June 30, 2014      
Additional paid-in capital 31,664,479 1,000
Accumulated deficit (18,759,606) (11,465,965)
TOTAL STOCKHOLDERS EQUITY (DEFICIT) 12,911,770 (11,463,965)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 18,580,369 $ 4,882,193