Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 29,625 $ 103,118
Accounts receivable, net of $0 reserve at December 31, 2019 and December 31, 2018 229,402 474,830
Inventories, net of $342,496 reserve at December 31, 2019 and $273,547 December 31, 2018 617,716 765,478
Prepaid expenses and other current assets 213,549 170,734
Total current assets 1,090,292 1,514,160
Investment in equity securities 16,643 16,643
Property and equipment, net 55,590 69,272
Right of use asset leases 76,586 136,385
Intangible assets, net 576,923 663,462
TOTAL ASSETS 1,816,034 2,399,922
CURRENT LIABILITIES    
Accounts payable 815,764 658,856
Accrued employee compensation 451,200 456,932
Accrued professional fees and other 1,658,452 1,112,995
Other current liabilities 2,949,621 1,233,325
Deferred revenue 23,248 20,623
Convertible debt, net of unamortized discounts of $619,227 and $156,180, respectively 6,121,338 4,000,805
Other debt, net of unamortized discounts of $1,769 and $9,118, respectively 1,675,667 852,315
Operating lease liability 76,586
Other related party debt 81,500 15,000
Total current liabilities 13,853,376 8,350,851
LONG TERM LIABILITIES    
Operating lease liability 136,385
Deferred revenue 18,065 37,757
TOTAL LIABILITIES 13,871,441 8,524,993
COMMITMENTS AND CONTINGENCIES (Note 7)
STOCKHOLDERS' DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 2,549,620 and 1,684,182 shares issued and outstanding on December 31, 2019 and 2018 respectively 25,496 16,842
Warrants to acquire common stock 22,599,177 19,807,247
Additional paid-in capital 44,261,105 39,777,301
Accumulated deficit (78,942,277) (65,727,538)
Total stockholders' deficit (12,055,407) (6,125,071)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 1,816,034 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