Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

v3.22.2.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 121,569 $ 132,311
Accounts receivable 316,796 154,746
Inventories, net of $342,496 reserve at June 30, 2022 and December 31, 2021 1,355,676 1,147,554
Prepaid expenses and other current assets 228,254 422,617
Total current assets 2,022,295 1,857,228
Investment in equity securities 60,604 59,976
Property and equipment, net 101,798 115,846
Right of use asset leases 341,681 395,565
Intangible assets, net 360,577 403,846
TOTAL ASSETS 2,886,955 2,832,461
CURRENT LIABILITIES    
Accounts payable 552,691 527,924
Accrued employee compensation 237,102 117,680
Accrued professional fees and other 2,157,575 1,955,672
Other current liabilities 9,036,299 7,757,217
Deferred revenue 31,851 37,124
Convertible debt, net of unamortized discounts of $381,223 and $1,536,649, respectively 15,686,451 12,839,813
Other debt, net of unamortized discounts of $16,900 and $0, respectively 1,621,854 1,256,840
Operating lease liability 138,691 132,996
Other related party debt, net of unamortized discounts of $23,646 and $0, respectively 283,804
Total current liabilities 29,746,318 24,625,266
LONG TERM LIABILITIES    
Long term debt 150,000 150,000
Operating lease liability – long term 202,990 262,569
Deferred revenue 3,587
TOTAL LIABILITIES 30,099,308 25,041,422
COMMITMENTS AND CONTINGENCIES (Note 4)
STOCKHOLDERS’ DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 10,703,179 and 9,120,526 shares issued and outstanding on June 30, 2022 and December 31, 2021, respectively 107,033 91,206
Warrants to acquire common stock 31,974,888 31,715,154
Additional paid-in capital 64,746,760 64,261,048
Accumulated deficit (124,042,132) (118,277,468)
Total stockholders’ deficit (27,212,353) (22,208,961)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 2,886,955 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 $ 86 $ 87