Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED CONDENSED BALANCE SHEETS

v2.4.1.9
CONSOLIDATED CONDENSED BALANCE SHEETS (USD $)
Dec. 31, 2014
Dec. 31, 2013
ASSETS    
Cash and cash equivalents $ 473,948us-gaap_CashAndCashEquivalentsAtCarryingValue $ 31,417us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts receivable 272,022us-gaap_AccountsReceivableNetCurrent 147,635us-gaap_AccountsReceivableNetCurrent
Inventories, net of reserves of $50,000 at December 31, 2014 and December 31, 2013 850,552us-gaap_InventoryNet 736,676us-gaap_InventoryNet
Prepaid income taxes 7,381us-gaap_PrepaidTaxes 7,381us-gaap_PrepaidTaxes
Prepaid expenses and other current assets 104,204us-gaap_PrepaidExpenseAndOtherAssetsCurrent 85,573us-gaap_PrepaidExpenseAndOtherAssetsCurrent
TOTAL CURRENT ASSETS 1,708,107us-gaap_AssetsCurrent 1,008,682us-gaap_AssetsCurrent
Property and equipment, net 36,025us-gaap_PropertyPlantAndEquipmentNet 58,102us-gaap_PropertyPlantAndEquipmentNet
Intangible assets, net 0us-gaap_IntangibleAssetsNetExcludingGoodwill 36,498us-gaap_IntangibleAssetsNetExcludingGoodwill
TOTAL ASSETS 1,744,132us-gaap_Assets 1,103,282us-gaap_Assets
LIABILITIES AND STOCKHOLDERS' DEFICIT    
Accounts payable 1,035,781us-gaap_AccountsPayableCurrent 1,102,772us-gaap_AccountsPayableCurrent
Accrued employee compensation 157,347us-gaap_EmployeeRelatedLiabilitiesCurrent 149,333us-gaap_EmployeeRelatedLiabilitiesCurrent
Accrued professional fees and other 719,432us-gaap_AccruedLiabilitiesCurrent 615,244us-gaap_AccruedLiabilitiesCurrent
Deferred revenue 27,117us-gaap_DeferredRevenueCurrent 28,189us-gaap_DeferredRevenueCurrent
Promissory note 0us-gaap_NotesPayableCurrent 75,000us-gaap_NotesPayableCurrent
Related party debt 0pbio_RelatedPartyDebt 25,182pbio_RelatedPartyDebt
Convertible debt, net of debt discount of $328,681 at December 31, 2014 and $331,306 at December 31, 2013 1,004,513us-gaap_ShortTermBorrowings 281,796us-gaap_ShortTermBorrowings
Other debt 80,480pbio_OtherDebt 89,989pbio_OtherDebt
Warrant derivative liability 159,875us-gaap_DerivativeInstrumentsAndHedgesLiabilities 344,570us-gaap_DerivativeInstrumentsAndHedgesLiabilities
Conversion option liability 590,341pbio_ConversionOptionLiability1 356,197pbio_ConversionOptionLiability1
TOTAL CURRENT LIABILITIES 3,774,886us-gaap_LiabilitiesCurrent 3,068,272us-gaap_LiabilitiesCurrent
Deferred revenue - noncurrent 28,977us-gaap_DeferredRevenueNoncurrent 2,785us-gaap_DeferredRevenueNoncurrent
TOTAL LIABILITIES 3,803,863us-gaap_Liabilities 3,071,057us-gaap_Liabilities
STOCKHOLDERS' DEFICIT    
Series D convertible preferred stock, $.01 par value; 850 shares authorized; 300 shares issued and outstanding on December 31, 2014 and 2013 respectively (Liquidation value of $300,000) 3pbio_SeriesDConvertiblePreferredStock.01ParValue850SharesAuthorized300SharesIssuedAndOutstandingOnDecember312013AndDecember312012LiquidationValueOf300000 3pbio_SeriesDConvertiblePreferredStock.01ParValue850SharesAuthorized300SharesIssuedAndOutstandingOnDecember312013AndDecember312012LiquidationValueOf300000
Series G convertible preferred stock, $.01 par value; 240,000 shares authorized; 86,570 and 145,320 shares issued and outstanding on December 31, 2014 and 2013, respectively 866pbio_SeriesGConvertiblePreferredStock.01ParValue240000SharesAuthorized145320SharesIssuedAndOutstandingOnDecember312013AndDecember312012 1,453pbio_SeriesGConvertiblePreferredStock.01ParValue240000SharesAuthorized145320SharesIssuedAndOutstandingOnDecember312013AndDecember312012
Series H convertible preferred stock $.01 par value 10,000 shares authorized; 10,000 shares issued and outstanding on December 31, 2014 and 2013 respectively 100pbio_SeriesHConvertiblePreferredStock.01ParValue10000SharesAuthorized10000SharesIssuedAndOutstandingOnDecember312013And0AtDecember312012 100pbio_SeriesHConvertiblePreferredStock.01ParValue10000SharesAuthorized10000SharesIssuedAndOutstandingOnDecember312013And0AtDecember312012
Series H2 convertible preferred stock $.01 par value 21 shares authorized; 21 shares issued and outstanding on December 31, 2014 and 0 at December 31, 2013 0pbio_SeriesH2ConvertiblePreferredStock 0pbio_SeriesH2ConvertiblePreferredStock
Series J convertible preferred stock $.01 par value 6,250 shares authorized; 3,546 and 5,088 shares issued and outstanding on December 31, 2014 and 2013, respectively 36pbio_SeriesEConvertiblePreferredStock 51pbio_SeriesEConvertiblePreferredStock
Series K convertible preferred stock $.01 par value 15,000 shares authorized; 11,416 and 4,000 shares issued and outstanding on December 31, 2014 and 2013, respectively 114pbio_SeriesKConvertiblePreferredStock.01ParValue15000SharesAuthorized4000SharesIssuedAndOutstandingOnDecember312013And0AtDecember312012 40pbio_SeriesKConvertiblePreferredStock.01ParValue15000SharesAuthorized4000SharesIssuedAndOutstandingOnDecember312013And0AtDecember312012
Common stock, $.01 par value; 65,000,000 and 50,000,000 shares authorized; and 18,673,390 shares issued and 17,161,390 outstanding on December 31, 2014 and 12,024,267 issued and outstanding on December 31, 2013 186,734us-gaap_CommonStockValue 120,243us-gaap_CommonStockValue
Warrants to acquire common stock 5,253,566us-gaap_WarrantsAndRightsOutstanding 4,267,402us-gaap_WarrantsAndRightsOutstanding
Additional paid-in capital 24,617,564us-gaap_AdditionalPaidInCapital 19,509,921us-gaap_AdditionalPaidInCapital
Accumulated deficit (32,118,714)us-gaap_RetainedEarningsAccumulatedDeficit (25,866,988)us-gaap_RetainedEarningsAccumulatedDeficit
Total stockholders' deficit (2,059,731)us-gaap_StockholdersEquity (1,967,775)us-gaap_StockholdersEquity
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,744,132us-gaap_LiabilitiesAndStockholdersEquity $ 1,103,282us-gaap_LiabilitiesAndStockholdersEquity