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v3.6.0.2

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | --- | ---
Sep. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014
REVENUE |  |  |  | $ 0 | $ 0 | $ 0 | $ 0
OPERATING AND ADMINISTRATIVE EXPENSES |  |  |  |  |  |  |
Research and development | 114,941 | 203,814 | 265,238 | 537,662 |  | 456,274 | 191,069
General and administrative expenses | 339,886 | 157,025 | 246,485 | 735,394 |  | 568,764 | 101,031
Goodwill impairment |  |  |  | 404,169 |  |  |
TOTAL OPERATING AND ADMINISTRATIVE EXPENSES | 454,827 | 360,839 | 511,723 | 1,677,225 |  | 1,025,038 | 292,100
LOSS FROM OPERATIONS | (454,827) | (360,839) | (511,723) | (1,677,225) |  | (1,025,038) | (292,100)
OTHER INCOME (EXPENSE) |  |  |  |  |  |  |
Interest income | 332 |  |  | 611 |  |  | 49
Interest expense - stockholder |  |  |  | (7,161) | (11,473) | (11,473) |
Foreign currency exchange gain (loss) | (43) | (78,638) | (74,664) | (6,642) |  | 13,089 | (10,430)
Change in fair value of derivative liability | (938) |  |  | (29,332) |  |  |
TOTAL OTHER INCOME (EXPENSE) | (649) | (78,638) | (74,664) | (42,524) |  | 1,616 | (10,381)
NET LOSS | (455,476) | (439,477) | (586,387) | (1,719,749) | $ (586,387) | (1,023,422) | (302,481)
COMPREHENSIVE LOSS |  |  |  |  |  |  |
Foreign exchange translation loss | (47,750) | (7,816) | (7,925) | (25,457) |  | (1,070) | (156,338)
TOTAL COMPREHENSIVE LOSS | $ (503,226) | $ (447,293) | $ (594,312) | $ (1,745,206) |  | $ (1,024,492) | $ (458,819)
Net loss per common share - basic and diluted (in dollars per share) | $ (0.06) | $ (0.07) | $ (0.09) | $ (0.45) |  | $ (0.15) | $ (0.05)
Weighted average common shares - basic and diluted (in shares) | 7,956,625 | 6,612,838 | 6,612,838 | 3,826,068 |  | 6,613,338 | 6,613,338

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