Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 14,253 $ 81,279
Accounts receivable 183,979 151,234
Inventories, net of $2,142,617 and $1,021,812 reserve, respectively 541,930 304,909
Prepaid expenses and other current assets 133,637 222,633
UB Exchange Account
Total current assets 873,799 760,055
Investment in equity securities 63,775 61,876
Property and equipment, net 71,973 84,930
Right of use asset operating leases 582,364 142,815
Intangible assets, net 513,185
Goodwill 4,774,211
TOTAL ASSETS 6,879,307 1,049,676
CURRENT LIABILITIES    
Accounts payable 2,493,607 1,320,432
Accrued employee compensation 443,827 191,578
Accrued professional fees and other 3,619,903 2,860,509
Accrued interest and dividends payable 8,113,601 5,306,353
Deferred revenue 229,847 233,850
Convertible debt, net of unamortized debt discounts of $381,624 and $645,471, respectively 25,034,264 20,683,841
Other debt, net of unamortized discounts of $0 and $0, respectively 2,550,352 1,264,162
Related party, net of unamortized debt discount of $0 and $0, respectively 882,152 648,500
Right of use operating lease liability 207,508 66,895
Series BB Convertible Preferred Shares Liability 1,000,000
Total current liabilities 43,575,061 33,576,120
LONG TERM LIABILITIES    
Long term debt 160,485 161,864
Right of use operating lease liability long term 358,834 60,961
Deferred revenue 13,041 4,560
TOTAL LIABILITIES 44,107,421 33,803,505
COMMITMENTS AND CONTINGENCIES (Note 5)
STOCKHOLDERS’ DEFICIT    
Series D, G, H, H2, J, K, AA, BB, CC and DD Convertible Preferred Stock, $.01 par value (Note 7) 121 102
Common stock, $.01 par value; 100,000,000 shares authorized; 54,039,890 and 35,367,663 shares issued and outstanding on June 30, 2024 and December 31, 2023, respectively 540,468 353,677
Warrants to acquire common stock 35,893,568 35,684,321
Additional paid-in capital 112,530,625 100,236,710
Accumulated deficit (186,192,896) (169,028,639)
TOTAL STOCKHOLDERS’ DEFICIT (37,228,114) (32,753,829)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 6,879,307 $ 1,049,676