Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS    
Cash and cash equivalents $ 132,311 $ 18,540
Accounts receivable 154,746 131,228
Inventories, net of $342,496 reserve at December 31, 2021 and December 31, 2020 1,147,554 592,767
Prepaid expenses and other current assets 422,617 314,936
Total current assets 1,857,228 1,057,471
Investment in equity securities 59,976 517,001
Property and equipment, net 115,846 16,490
Right of use asset leases 395,565 221,432
Intangible assets, net 403,846 490,385
TOTAL ASSETS 2,832,461 2,302,779
CURRENT LIABILITIES    
Accounts payable 527,924 771,945
Accrued employee compensation 117,680 417,578
Accrued professional fees and other 1,955,672 2,037,806
Other current liabilities 7,757,217 6,330,722
Deferred revenue 37,124 47,328
Convertible debt, net of unamortized discounts of $1,536,649 and $3,948,167, respectively 12,839,813 7,545,670
Other debt 1,256,840 1,135,469
Operating lease liability 132,996 65,193
Other related party debt 166,000
Total current liabilities 24,625,266 18,517,711
LONG TERM LIABILITIES    
Long term debt 150,000 527,039
Operating lease liability – long term 262,569 156,239
Deferred revenue 3,587 19,382
TOTAL LIABILITIES 25,041,422 19,220,371
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 9,120,526 and 4,168,324 shares issued and outstanding on December 31, 2021 and 2020 respectively 91,206 41,683
Warrants to acquire common stock 31,715,154 29,192,471
Additional paid-in capital 64,261,048 50,312,968
Accumulated deficit (118,277,468) (96,465,807)
Total stockholders’ deficit (22,208,961) (16,917,592)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 2,832,461 2,302,779
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 $ 87 $ 81