v3.10.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash and cash equivalents $ 18,491 $ 81,033
Accounts receivable 526,090 206,848
Inventories, net of $139,700 reserve at June 30, 2018 and $179,600 at December 31, 2017 900,063 857,662
Prepaid expenses and other current assets 202,736 222,158
Total current assets 1,647,380 1,367,701
Intangible assets, net of amortization of $43,269 and $0, respectively 707,611 750,000
Investment in available-for-sale equity securities 17,991 19,825
Property and equipment, net 19,177 22,662
TOTAL ASSETS 2,392,159 2,160,188
CURRENT LIABILITIES    
Accounts payable 697,961 589,263
Accrued employee compensation 427,625 368,700
Accrued professional fees and other 917,498 800,620
Other current liabilities 912,402 1,536,507
Deferred revenue 208,857 263,106
Revolving note payable 3,500,000
Related party convertible debt, net of debt discount of $0 and $31,372, respectively 259,762
Convertible debt, net of unamortized debt discounts of $547,582 and $401,856, respectively 3,222,167 8,028,014
Other debt, net of unamortized discounts of $25,982 and $48,194, respectively 703,130 1,379,863
Total current liabilities 7,089,640 16,725,835
LONG TERM LIABILITIES    
Deferred revenue 45,990 57,149
TOTAL LIABILITIES 7,135,630 16,782,984
COMMITMENTS AND CONTINGENCIES (Note 5)
STOCKHOLDERS' DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 1,537,094 and 1,342,858 shares issued and outstanding on June 30, 2018 and December 31, 2017, respectively 15,371 13,429
Warrants to acquire common stock 17,450,717 9,878,513
Additional paid-in capital 37,747,441 30,833,549
Accumulated deficit (59,958,064) (55,349,299)
Total stockholders' deficit (4,743,471) (14,622,796)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 2,392,159 2,160,188
Series D Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock 3 3
Series G Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock 806 806
Series H Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock 100 100
Series H2 Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock
Series J Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock 35 35
Series K Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock 68 68
Series AA Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock $ 52

Source