v3.8.0.1

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash	$ 39,601	$ 66,118
Inventory	191,051	192,726
Prepaid expenses	10,042	4,012
Total current assets	240,694	262,856
Property, and equipment, net	7,980	9,033
In-process research and development	6,977,347	6,977,347
Total assets	7,226,021	7,249,236
Current liabilities:
Accounts payable	586,039	592,696
Accounts payable and accrued liabilities - related parties	360,042	337,091
Accrued liabilities	680,112	644,220
Notes payable	170,895	171,006
Short-term debt - related party	967,570	948,073
Total current liabilities	2,764,658	2,693,086
Long-term liabilities:
Notes payable - related party, net of debt discounts of $231,264 and $256,284, respectively	1,268,736	1,243,716
Convertible debentures, net of debt discounts of $974,291 and $687,556, respectively	502,241	332,209
Convertible debentures - related party, net of debt discounts of $424,315 and $245,407, respectively	160,685	89,593
Derivative liability		13,508
Royalty liabilities	2,723,043	2,128,916
Total long-term liabilities	4,654,705	3,807,942
Total liabilities	7,419,363	6,501,028
Equity (deficit):
Preferred stock
Common stock, $0.001 par value, 4,000,000,000 shares authorized, 34,365,907 and 34,290,934 shares issued and outstanding, respectively	34,365	34,291
Additional paid-in capital	39,990,873	39,949,116
Accumulated deficit	(42,424,699)	(41,539,533)
Total equity (deficit) attributable to Spotlight Innovation Inc.	(2,399,461)	(1,556,126)
Non-controlling interest	2,206,119	2,304,334
Total equity (deficit)	(193,342)	748,208
Total liabilities and equity (deficit)	7,226,021	7,249,236
Series A Preferred Stock [Member]
Equity (deficit):
Preferred stock
Series C Preferred Stock [Member]
Equity (deficit):
Preferred stock

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.

Spotlight Innovation Inc. 10-Q