The deadline set by the Egyptian President Mohammed Morsi to relinquish power passed on Wednesday afternoon with little sign of a resolution to the standoff, as both sides vowing to fight to the death, NBC News reported.

Thousands of people continue to flood into Tahrir Square in Cairo on Wednesday, as the military has reportedly waging a coup, according to Muslim Brotherhood officials. They also appeared to take control of state televisions. Protesters were waving flags, demanding the ouster of Morsi, the democratically elected Muslim Brotherhood leader.

The military issued a call to arms in a Facebook post called, 'The Final Hours,' quoting the military leader General Abdel Fattah al-Sisi, saying it would be an honor to die rather than subject the Egyptian people to terror threats.

'We swear to God to sacrifice with out blood for Egypt and its people against any terrorist, extremist or ignoramus," the statement read. "Love live Egypt and its proud people."

"I am prepared to sacrifice my blood for the sake of the security and stability of this homeland," Morsi said.

The government said that at least 16 people have been killed, with 200 injuries, as clashes erupted with security forces near Cairo University.

Tamarod, a protest movement, called for supporters to rally at the headquarters of the Republican Guard, where Morsi was believed to be staying.

Morsi's national security adviser said that a military coup was underway as of Wednesday afternoon. Morsi refuses to back down. "The price of preserving legitimacy is my life," Morsi said.