Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash $ 1,950 $ 66,118
Accounts receivable 360
Inventory 189,820 192,726
Prepaid expenses 1,798 4,012
Other assets 6,000
Total current assets 199,928 262,856
Property, and equipment, net 8,361 9,033
In-process research and development 6,977,347 6,977,347
Total assets 7,185,636 7,249,236
Current liabilities:    
Accounts payable 858,852 592,696
Accounts payable and accrued liabilities - related parties 383,026 337,091
Accrued liabilities 730,309 644,220
Notes payable 170,669 171,006
Short-term debt - related party 1,291,235 948,073
Stock payable 4,080
Total current liabilities 3,438,171 2,693,086
Long-term liabilities:    
Notes payable - related parties, net of debt discounts of $206,244 and $256,284, respectively 1,293,756 1,243,716
Convertible debentures, net of debt discounts of $876,778 and $687,556, respectively 599,754 332,209
Convertible debentures - related party, net of debt discounts of $412,928 and $245,407, respectively 197,072 89,593
Derivative liability 13,508
Royalty liabilities 2,818,347 2,128,916
Total long-term liabilities 4,908,929 3,807,942
Total liabilities 8,344,040 6,501,028
Equity (deficit):    
Preferred stock value
Common stock, $0.001 par value, 4,000,000,000 shares authorized, 35,762,157 and 34,290,934 shares issued and outstanding, respectively 35,762 34,291
Additional paid-in capital 40,046,891 39,949,116
Accumulated deficit (43,373,268) (41,539,533)
Total equity (deficit) attributable to Spotlight Innovation Inc. (3,287,555) (1,556,126)
Non-controlling interest 2,129,151 2,304,334
Total equity (deficit) (1,158,404) 748,208
Total liabilities and equity (deficit) 7,185,636 7,249,236
Series A Preferred Stock [Member]    
Equity (deficit):    
Preferred stock value
Series C Preferred Stock [Member]    
Equity (deficit):    
Preferred stock value