Restatement: Restatement (Tables)

12 Months Ended

Dec. 31, 2019

	December 31, 2018									December 31, 2017
	As Previously Reported			As Restated			Increase (Decrease)			As Previously Reported			As Restated			Increase (Decrease)
CONSOLIDATED BALANCE SHEETS
Derivative liability, short-term		––			23,925			23,925			––			––			––
Debentures, convertible		755,627			724,903			(30,724	)		––			––			––
Debentures, convertible, related party		428,132			411,006			(17,126	)		––			––			––
Notes payable, convertible, net of discount		296,000			296,000			––			741,000			1,706			(739,294	)
Total current liabilities		5,139,617			5,115,692			(23,925	)		4,418,915			3,679,621			(739,294	)
Derivative liability, long-term		––			34,000			34,000			––			––			––
Debentures, convertible, net of unamortized discount		226,050			184,870			(41,180	)		––			––			––
Total liabilities		7,345,916			7,314,811			(31,105	)		28,930,119			28,190,825			(739,294	)
Additional paid in capital - preferred		1,415,653			1,699,000			283,347			665,803			665,803			––
Additional paid in capital - common		9,715,921			11,382,341			1,666,420			5,580,668			6,449,768			869,100
Accumulated deficit		(17,272,260	)		(19,190,922	)		1,918,662	[1]		(33,561,580	)		(33,691,386	)		129,806
Total stockholders' deficit		(5,981,559	)		(5,950,454	)		(31,105	)		(27,178,083	)		(26,438,789	)		(739,294	)

CONSOLIDATED STATEMENTS OF OPERATIONS
General and administrative expenses	$	6,552,693		$	6,626,063		$	73,370		$	3,997,512		$	4,125,612		$	128,100
Operating loss		(6,561,293	)		(6,634,663	)		73,370			(4,044,619	)		(4,172,719	)		128,100
Gain on extinguishment of debt		23,215,862			22,858,009			(357,853	)		––			––			––
Loss on fair value adjustments		––			(123,875	)		123,875			––			––			––
Discount amortization		(2,806,050	)		(2,805,000	)		(1,050	)		––			––			––
Interest expense, net of income		(1,213,069	)		(2,164,530	)		951,461			(1,016,773	)		(1,018,479	)		(1,706	)
Total other income (expenses)		23,675,011			22,242,872			(1,432,139	)		(6,466,773	)		(6,468,479	)		(1,706	)
Net income (loss) - continuing operations		17,113,718			15,608,209			(1,505,509	)		(10,511,392	)		(10,641,198	)		129,806
Net income (loss)		16,289,320			14,783,811			(1,505,509	)		(13,664,945	)		(13,794,751	)		129,806
Net income (loss) per common share - continuing operations - basic	$	0.115		$	0.105		$	(0.010	)	$	(0.087	)	$	(0.088	)	$	(0.001	)
Net income (loss) per common share - continuing operations - diluted	$	0.079		$	0.072		$	(0.007	)	$	(0.059	)	$	(0.060	)	$	0.001

CONSOLIDATED STATEMENTS OF CASH FLOWS
Net income (loss)	$	17,113,718		$	15,608,209		$	(1,505,509	)	$	(10,511,392	)	$	(10,641,198	)	$	129,806
Stock compensation/stock option expense		3,440,340			3,513,710			73,370			2,473,510			2,601,608			128,098
Discount amortization		2,806,050			2,805,000			(1,050	)		––			––			––
Gain on extinguishment of debt		(23,215,862	)		(22,858,009	)		357,853			––			––			––
Loss on fair value adjustments		––			123,875			123,875			––			––			––
Debt accretion		––			1,107,753			1,107,753			––			1,706			1,706
Increase in accounts payable and accrued expenses		2,137,271			1,980,979			(156,292	)		1,731,757			1,731,759			2
Non-Cash Activities:
Discounts on long-term liabilities	$	2,806,050		$	2,805,000		$	(1,050	)	$	5,450,000		$	5,450,000		$	––
Beneficial conversion feature of convertible promissory notes		––			347,487			347,487			––			592,582			592,582
Fair value of stock warrants		––			1,393			1,393			––			148,418			148,418
Embedded conversion option of convertible promissory notes		––			60,350			60,350			––			––			––
Supplemental Information:
Interest paid-continuing operations		342,230			185,937			(156,293	)		52,566			52,566			––

[1]Includes 2018 and 2017 net increase in accumulated deficit of $1,505,509 and $129,806, respectively, and deemed dividends of $283,347 and $0, respectively.

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