Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 135,364 $ 103,118
Accounts receivable, net of $0 reserve at September 30, 2019 and December 31, 2018 411,442 474,830
Inventories, net of $273,547 reserve at September 30, 2019 and December 31, 2018 713,886 765,478
Prepaid expenses and other current assets 239,216 170,734
Total current assets 1,499,908 1,514,160
Investment in equity securities 16,643 16,643
Property and equipment, net 94,242 69,272
Other assets 201,534 136,385
Intangible assets, net 598,558 663,462
TOTAL ASSETS 2,410,885 2,399,922
CURRENT LIABILITIES    
Accounts payable 612,839 658,856
Accrued employee compensation 393,498 456,932
Accrued professional fees and other 1,573,872 1,112,995
Other current liabilities 2,536,812 1,233,325
Deferred revenue 27,495 20,623
Operating lease liability 92,950 59,799
Convertible debt, net of unamortized discounts of $326,380 and $156,180, respectively 4,888,935 4,000,805
Other debt, net of unamortized discounts of $7,036 and $9,118, respectively 1,808,237 852,315
Other related party debt 79,000 15,000
Total current liabilities 12,013,638 8,410,650
LONG TERM LIABILITIES    
Operating lease liability, net of current portion 76,586
Deferred revenue 21,776 37,757
TOTAL LIABILITIES 12,035,414 8,524,993
COMMITMENTS AND CONTINGENCIES (Note 5)
STOCKHOLDERS' DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 1,889,616 and 1,684,182 shares issued and outstanding on September 30, 2019 and December 31, 2018 respectively 21,722 16,842
Warrants to acquire common stock 22,064,307 19,807,247
Additional paid-in capital 43,263,325 39,777,301
Accumulated deficit (74,974,975) (65,727,538)
Total stockholders' deficit (9,624,529) (6,125,071)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 2,410,885 2,399,922
Series D Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 3 3
Series G Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 806 806
Series H Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 100 100
Series H2 Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value
Series J Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 35 35
Series K Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 68 68
Series AA Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value $ 80 $ 65