Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 5,216,940 $ 7,677,163
Accounts receivable $ 20,000
Inventory $ 78,917
Prepaid expenses and deposits $ 972,460 3,149,289
Current assets, Total 6,209,400 10,905,369
Property, plant and equipment, net 3,671,789 3,736,359
Assets, Total 9,881,189 14,641,728
Current liabilities:    
Accounts payable 2,402,879 1,606,695
Accounts payable, related parties $ 185,924 399,542
Notes payable 13,534,426
Shareholder advances $ 1,687,200 111,700
Current portion of long-term debt 50,000 2,772,500
Current liabilities, Total $ 4,326,003 $ 18,424,863
Stockholders' equity (deficit):    
Series A preferred stock, par value of $.001 per share 75,000,000 shares authorized, 0 shares shares issued and outstanding at March 31, 2016 and December 31, 2015
Common stock, par value of $.001 per share 50,000,000 shares authorized, 22,621,669 shares issued and outstanding at March 31, 2016 and 18,204,923 shares issued and outstanding at December 31, 2015 $ 22,621 $ 18,205
Additional paid-in capital 47,079,784 33,557,615
Stock based compensation 6,350,138 6,158,390
Accumulated deficit (47,897,357) (43,517,345)
Stockholders' equity (deficit), Total 5,555,186 (3,783,135)
Liabilities and Stockholders' Equity (Deficit), Total $ 9,881,189 $ 14,641,728