Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

v3.19.2
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS    
Cash and cash equivalents $ 117,933 $ 103,118
Accounts receivable, net of $0 reserve at June 30, 2019 and December 31, 2018 410,613 474,830
Inventories, net of $273,547 reserve at June 30, 2019 and December 31, 2018 744,806 765,478
Prepaid expenses and other current assets 127,657 170,734
Total current assets 1,401,009 1,514,160
Investment in equity securities 16,643 16,643
Property and equipment, net 94,277 69,272
Right of use asset leases 108,332 136,385
Intangible assets, net 620,192 663,462
TOTAL ASSETS 2,240,453 2,399,922
CURRENT LIABILITIES    
Accounts payable 514,948 658,856
Accrued employee compensation 438,608 456,932
Accrued professional fees and other 1,435,210 1,112,995
Other current liabilities 1,909,514 1,233,325
Deferred revenue 25,702 20,623
Operating lease liability 67,674 59,799
Convertible debt, net of unamortized discounts of $360,297 and $156,180, respectively 4,835,066 4,000,805
Other debt, net of unamortized discounts of $13,833 and $9,118, respectively 1,107,667 852,315
Other related party debt 15,000 15,000
Total current liabilities 10,349,389 8,410,650
LONG TERM LIABILITIES    
Operating lease liability, net of current portion 40,658 76,586
Deferred revenue 32,506 37,757
TOTAL LIABILITIES 10,422,553 8,524,993
COMMITMENTS AND CONTINGENCIES (Note 5)
STOCKHOLDERS' DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 1,889,616 and 1,684,182 shares issued and outstanding on June 30, 2019 and December 31, 2018 respectively 18,896 16,842
Warrants to acquire common stock 21,446,642 19,807,247
Additional paid-in capital 41,676,926 39,777,301
Accumulated deficit (71,325,652) (65,727,538)
Total stockholders' deficit (8,182,100) (6,125,071)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 2,240,453 2,399,922
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 $ 76 $ 65