XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
COSTS AND EXPENSES        
Administrative and general $ 166,021 $ 367,969 $ 340,786 $ 624,557
Amortization 9,399 9,399 18,695 18,695
Other 17,447 15,667 33,105 37,159
Costs and Expenses 192,867 393,035 392,586 680,411
OTHER (EXPENSE) INCOME        
Amortization of debt discount (16,348) (7,920) (30,000) (25,780)
Net proceeds form litigation settlement 150,000   150,000  
Reversal of previously accrued DOL penalties 240,050   240,050  
Interest expense (99,877) (86,105) (199,980) (169,085)
Change in fair value of derivative liability (144,526) (477,308) (190,100) 875,972
Other (Expense) Income 129,299 (571,333) (30,030) 681,107
NET (LOSS) INCOME (63,568) (964,368) (422,616) 696
PREFERRED STOCK DIVIDENDS (25,400) (25,400) (50,800) (50,800)
NET LOSS APPLICABLE TO COMMON STOCKHOLDERS $ (88,968) $ (989,768) $ (473,416) $ (50,104)
Net loss per common share, basic and fully diluted $ (0.002) $ (0.027) $ (0.013) $ (0.001)
Weighted average number of common shares, basic and fully diluted 36,297,576 36,297,576 36,297,576 36,297,576