Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 81,279 $ 3,865
Accounts receivable 151,234 295,374
Inventories, net of $1,021,812 and $982,973 reserve, respectively 304,909 686,383
Prepaid expenses and other current assets 222,633 257,527
Total current assets 760,055 1,243,149
Investment in equity securities 61,876 63,638
Property and equipment, net 84,930 103,351
Right of use asset leases 142,815 282,095
Intangible assets, net 317,308
TOTAL ASSETS 1,049,676 2,009,541
CURRENT LIABILITIES    
Accounts payable 1,320,432 637,238
Accrued employee compensation 191,578 167,247
Accrued professional fees and other 2,860,509 2,497,762
Accrued interest and dividends payable 5,306,353 10,803,983
Deferred revenue 233,850 58,242
Convertible debt, net of unamortized debt discounts of $645,471 and $455,517, respectively 20,683,841 17,823,669
Other debt, net of unamortized discounts of $0 and $0, respectively 1,264,162 1,638,969
Right of use operating lease liability 66,895 142,171
Series BB convertible preferred stock liability 1,000,000
Total current liabilities 33,576,120 34,404,166
LONG TERM LIABILITIES    
Long term debt 161,864 150,000
Right of use operating lease liability long term 60,961 139,924
Deferred revenue 4,560 1,822
TOTAL LIABILITIES 33,803,505 34,695,912
COMMITMENTS AND CONTINGENCIES (Notes 8)
STOCKHOLDERS’ DEFICIT    
Series D, G, H, H2, J, K, AA, BB and CC Convertible Preferred Stock, $.01 par value (Note 10) 102 1,098
Common stock, $.01 par value; 100,000,000 shares authorized; 35,367,663 and 13,682,910 shares issued and outstanding on December 31, 2023 and December 31, 2022, respectively 353,677 136,829
Warrants to acquire common stock 35,684,321 31,995,762
Additional paid-in capital 100,236,710 69,006,145
Accumulated deficit (169,028,639) (133,826,205)
TOTAL STOCKHOLDERS’ DEFICIT (32,753,829) (32,686,371)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 1,049,676 2,009,541
Related Party [Member]    
CURRENT LIABILITIES    
Related party, net of unamortized debt discount of $0 and $7,915, respectively $ 648,500 $ 634,885