v3.3.1.900

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash	$ 19,839	$ 322,929
Prepaid expenses	3,625
Total current assets	23,464	$ 322,929
Property, plant and equipment, net of accumulated depreciation of $243,437 and $237,357 as of December 31, 2015 and 2014, respectively	29,617	8,887
Total assets	53,081	331,816
Current liabilities:
Accounts payable and accrued liabilities	$ 124,298	237,014
Convertible note payable		5,000
Advances, related party	$ 175,200	$ 200
Derivative liabilities	169,082
Total current liabilities	468,580	$ 242,214
Long term debt:
Convertible notes payable	26,000	26,000
Total debt	$ 494,580	$ 268,214
Commitments and contingencies
STOCKHOLDERS' EQUITY (DEFICIT)
Preferred stock, no par; 5,000,000 shares authorized; no shares issued and outstanding
Common stock, no par; 20,000,000 shares authorized; 19,607,177 and 15,194,436 shares issued and outstanding as of December 31, 2015 and 2014, respectively	$ 8,850,789	$ 8,355,741
Additional paid in capital	2,878,394	2,705,460
Common stock subscription receivable	(128,375)	(128,375)
Accumulated deficit	(12,042,307)	(10,869,224)
Total stockholders' (deficit) equity	(441,499)	63,602
Total liabilities and stockholders' (deficit) equity	$ 53,081	$ 331,816

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.

IRIS BIOTECHNOLOGIES INC 10-K