CYCLONE POWER TECHNOLOGIES INC

CIK:0001442711|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2018

Jun. 30, 2017

Jun. 30, 2018

Jun. 30, 2017

Income Statement [Abstract]

REVENUES

COST OF GOODS SOLD

Gross profit

OPERATING EXPENSES

Advertising and promotion

7,460

6,472

11,270

6,652

General and administrative

237,700

219,828

400,662

537,383

Research and development

84,546

56,242

166,489

96,918

Total operating expenses

329,706

282,542

578,421

640,953

Operating loss

(329,706)

(282,542)

(578,421)

(640,953)

OTHER (EXPENSE) INCOME

Other income (expense)

136,000

138,419

(70,934)

Derivative (expense) -notes payable

(468,000)

(84,000)

(892,968)

(407,467)

Interest (expense)

(35,845)

(136,049)

(104,201)

(186,023)

Total other (expense)

(367,845)

(220,049)

(858,750)

(664,424)

Loss before income taxes

(697,551)

(502,591)

(1,437,171)

(1,305,377)

Income taxes

Net loss

$ (697,551)

$ (502,591)

$ (1,437,171)

$ (1,305,377)

Net loss per common share, basic and diluted

$ (0.00)

^[1]

$ (0.00)

^[1]

$ (0.00)

^[1]

Weighted average number of common shares outstanding

5,292,794,585

1,669,513,344

4,072,426,766

1,589,583,513

[1]	Net loss per share less than $0.00

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,437,171)	$ (1,305,377)
Adjustments to reconcile net loss to net cash used by operating activities:
Depreciation and amortization	14,429	26,784
Issuance of restricted common stock, options and warrants for services	549	6,829
Amortization of derivative debt discount	30,764	92,382
Loss on debt paid with common stock		70,934
Loss from derivative liability conversion-notes payable	892,968	400,701
Changes in operating assets and liabilities:
(Increase) in inventory		(488)
Increase in accounts payable and accrued expenses	143,468	414,086
Increase in accounts payable and accrued expenses-related parties	166,495	167,500
Increase in contract liability	5,000
Net cash used in operating activities	(183,498)	(126,649)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from notes and loans payable	5,000	124,650
Payment of notes and loans payable	(5,000)
(Decrease) increase in cash overdraft	(52)	16,883
Payment of related party notes and loans payable	(52,200)	(32,693)
Increase in related party notes and loans payable	15,992	17,218
Proceeds from series A preferred stock subscription	249,500
Net cash provided by financing activities	213,240	126,058
Net increase (decrease) in cash	29,742	(591)
Cash, beginning of period		591
Cash, end of period	29,742
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Payment of interest in cash
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Issuance of 571,047,619 shares of Common stock for accrued liability settlement	134,754
Issuance of 1,862,101,668 shares of Common stock for debt and interest settlement	222,143
Issuance of 100,000,000 shares of Common stock for liability settlement		49,066
Issuance of 44,476,071 shares of Common stock for debt and interest settlement		34,246
Issuance of 70,000,000 shares of Common stock for liability settlement		123,000
Issuance of 6,637,000 shares of Common stock for services		$ 5,096

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash	$ 29,742
Other current assets	193	193
Total current assets	29,935	193
PROPERTY AND EQUIPMENT
Furniture, fixtures, and equipment	302,770	302,770
Accumulated depreciation	(243,439)	(236,938)
Net property and equipment	59,331	65,832
OTHER ASSETS
Patents, trademarks and copyrights	394,980	394,980
Accumulated amortization	(312,735)	(304,807)
Net patents, trademarks and copyrights	82,245	90,173
Other assets	7,660	7,660
Total other assets	89,905	97,833
Total Assets	179,171	163,858
CURRENT LIABILITIES
Bank overdraft		52
Accounts payable and accrued expenses	1,731,688	2,057,068
Accounts payable and accrued expenses-related parties	1,046,720	880,225
Notes and other loans payable-current portion	428,793	494,795
Derivative liabilities	2,049,000	1,424,001
Notes and other loans payable-related parties	363,665	399,873
Capitalized lease obligations-current portion	5,522	5,522
Contract Liability and license deposits	178,826	173,826
Total current liabilities	5,804,214	5,435,362
NON-CURRENT LIABILITIES
Notes and other loans payable-net of current portion	1,500	1,500
Total non-current liabilities	1,500	1,500
Total Liabilities	5,805,714	5,436,862
Commitments and contingencies (See Note 13)
STOCKHOLDERS' DEFICIT
Common stock, $.0001 par value, 6,000,000,000 shares authorized, 5,292,794,585 and 2,859,645,298 shares, issued and outstanding June 30, 2018 and December 31, 2017, respectively.	529,278	285,963
Additional paid-in capital	57,968,309	57,377,491
Treasury Stock, 317,000 shares, at June 30, 2018 and December 31, 2017, respectively, at cost.	(3,000)	(3,000)
Series A preferred stock subscription	249,500
Accumulated deficit	(64,399,662)	(62,962,497)
Total stockholders' deficit-Cyclone Power Technologies Inc.	(5,655,575)	(5,302,043)
Non-controlling interest in consolidated subsidiary	29,032	29,039
Total Stockholders' Deficit	(5,626,543)	(5,273,004)
Total Liabilities and Stockholders' Deficit	179,171	163,858
Series A Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Preferred stock, value
Series B Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Preferred stock, value