Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

v3.20.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash and cash equivalents $ 94,752 $ 29,625
Accounts receivable 330,459 229,402
Inventories, net of $342,496 reserve at September 30, 2020 and December 31, 2019 516,205 617,716
Loan receivable 801,250
Prepaid expenses and other current assets 159,739 213,549
Total current assets 1,902,405 1,090,292
Investment in equity securities 503,366 16,643
Property and equipment, net 18,733 55,590
Right of use asset leases 20,958 76,586
Intangible assets, net 512,019 576,923
TOTAL ASSETS 2,957,481 1,816,034
CURRENT LIABILITIES    
Accounts payable 706,319 815,764
Accrued employee compensation 450,591 451,200
Accrued professional fees and other 2,035,252 1,658,452
Accrued interest 5,593,508 2,949,621
Deferred revenue 47,623 23,248
Operating lease liability 20,958 76,586
Convertible debt, net of unamortized discounts o $4,738,724 and $619,227, respectively 7,095,113 6,121,338
Other debt, net of unamortized discounts of $0 and $1,769, respectively 886,501 1,675,667
Other related party debt 105,000 81,500
Total current liabilities 16,940,865 13,853,376
LONG TERM LIABILITIES    
Long term debt 527,039
Deferred revenue 25,957 18,065
TOTAL LIABILITIES 17,493,861 13,871,441
COMMITMENTS AND CONTINGENCIES (Note 4)
STOCKHOLDERS' DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 3,839,256 and 2,549,620 shares issued and outstanding on September 30, 2020 and December 31, 2019 respectively 38,392 25,496
Warrants to acquire common stock 28,207,172 22,599,177
Additional paid-in capital 49,079,182 44,261,105
Accumulated deficit (91,862,218) (78,942,277)
Total stockholders' deficit (14,536,380) (12,055,407)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 2,957,481 1,816,034
Series D Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 3 3
Series G Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 806 806
Series H Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 100 100
Series H2 Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value
Series J Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 35 35
Series K Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 68 68
Series AA Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value $ 80 $ 80