v3.24.2.u1
Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash and cash equivalents $ 3,220 $ 81,279
Accounts receivable 144,639 151,234
Inventories, net of $1,583,190 and $1,021,812 reserve, respectively 596,863 304,909
Prepaid expenses and other current assets 211,354 222,633
UB Exchange Account 1,181
Total current assets 957,257 760,055
Investment in equity securities 66,031 61,876
Property and equipment, net 78,452 84,930
Right of use asset operating leases 565,409 142,815
Intangible assets, net 596,404
Goodwill 4,727,976
TOTAL ASSETS 6,991,529 1,049,676
CURRENT LIABILITIES    
Accounts payable 2,438,755 1,320,432
Accrued employee compensation 177,453 191,578
Accrued professional fees and other 3,539,910 2,860,509
Accrued interest and dividends payable 6,620,620 5,306,353
Deferred revenue 233,459 233,850
Convertible debt, net of unamortized debt discounts of $403,060 and $645,471, respectively 23,517,372 20,683,841
Other debt, net of unamortized discounts of $0 and $0, respectively 2,152,748 1,264,162
Related party, net of unamortized debt discount of $0 and $0, respectively 682,252 648,500
Right of use operating lease liability 204,886 66,895
Series BB Convertible Preferred Shares Liability 1,725,000 1,000,000
Series DD Convertible Preferred Shares Liability 1,066,800
Options Payable (Note 4) 2,210,060
Total current liabilities 44,569,315 33,576,120
LONG TERM LIABILITIES    
Long term debt 161,182 161,864
Right of use operating lease liability long term 379,661 60,961
Deferred revenue 8,167 4,560
TOTAL LIABILITIES 45,118,325 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) 103 102
Common stock, $.01 par value; 100,000,000 shares authorized; 47,073,892 and 35,367,663 shares issued and outstanding on March 31, 2024 and December 31, 2023, respectively 470,808 353,677
Warrants to acquire common stock 35,684,321 35,684,321
Additional paid-in capital 103,453,087 100,236,710
Accumulated deficit (177,735,115) (169,028,639)
TOTAL STOCKHOLDERS’ DEFICIT (38,126,796) (32,753,829)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 6,991,529 $ 1,049,676

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