Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 118,803 $ 132,311
Accounts receivable 291,846 154,746
Inventories, net of $342,496 reserve at March 31, 2022 and December 31, 2021 1,360,539 1,147,554
Prepaid expenses and other current assets 184,936 422,617
Total current assets 1,956,124 1,857,228
Investment in equity securities 79,114 59,976
Property and equipment, net 103,520 115,846
Right of use asset leases 369,006 395,565
Intangible assets, net 382,211 403,846
TOTAL ASSETS 2,889,975 2,832,461
CURRENT LIABILITIES    
Accounts payable 665,228 527,924
Accrued employee compensation 170,212 117,680
Accrued professional fees and other 2,133,392 1,955,672
Other current liabilities 8,304,648 7,757,217
Deferred revenue 45,806 37,124
Convertible debt, net of unamortized discounts of $813,478 and $1,536,649, respectively 14,290,657 12,839,813
Other debt, net of unamortized discounts of $11,670 and $0, respectively 1,311,495 1,256,840
Operating lease liability 135,810 132,996
Other related party debt 195,250
Total current liabilities 27,252,498 24,625,266
LONG TERM LIABILITIES    
Long term debt 150,000 150,000
Operating lease liability – long term 233,196 262,569
Deferred revenue 2,592 3,587
TOTAL LIABILITIES 27,638,286 25,041,422
COMMITMENTS AND CONTINGENCIES (Note 4)
STOCKHOLDERS’ DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 10,194,136 and 9,120,526 shares issued and outstanding on March 31, 2022 and December 31, 2021 respectively 101,942 91,206
Warrants to acquire common stock 31,974,888 31,715,154
Additional paid-in capital 63,867,846 64,261,048
Accumulated deficit (120,694,086) (118,277,468)
Total stockholders’ deficit (24,748,311) (22,208,961)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 2,889,975 2,832,461
Series D Convertible Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT    
Preferred Stock 3 3
Series G Convertible Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT    
Preferred Stock 806 806
Series H Convertible Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT    
Preferred Stock 100 100
Series H2 Convertible Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT    
Preferred Stock
Series J Convertible Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT    
Preferred Stock 35 35
Series K Convertible Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT    
Preferred Stock 68 68
Series AA Convertible Preferred Stock [Member]    
STOCKHOLDERS’ DEFICIT    
Preferred Stock $ 87 $ 87