Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.23.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS    
Cash and cash equivalents $ 3,865 $ 132,311
Accounts receivable 295,374 154,746
Inventories, net of $982,973 and $342,496 reserve, respectively 686,383 1,147,554
Prepaid expenses and other current assets 257,527 422,617
Total current assets 1,243,149 1,857,228
Investment in equity securities 63,638 59,976
Property and equipment, net 103,351 115,846
Right of use asset operating leases 282,095 395,565
Intangible assets, net 317,308 403,846
TOTAL ASSETS 2,009,541 2,832,461
CURRENT LIABILITIES    
Accounts payable 637,238 527,924
Accrued employee compensation 167,247 117,680
Accrued professional fees and other 2,497,762 1,955,672
Accrued interest and dividends payable 10,803,983 7,757,217
Deferred revenue 58,242 37,124
Convertible debt, net of unamortized debt discounts of $455,517 and $1,536,649, respectively 17,823,669 12,839,813
Other debt, net of unamortized discounts of $0 and $0, respectively 1,638,969 1,256,840
Related party debt, net of unamortized debt discount of $7,915 and $0, respectively 634,885
Right of use operating lease liability 142,171 132,996
Total current liabilities 34,404,166 24,625,266
LONG TERM LIABILITIES    
Long term debt 150,000 150,000
Right of use operating lease liability long term 139,924 262,569
Deferred revenue 1,822 3,587
TOTAL LIABILITIES 34,695,912 25,041,422
COMMITMENTS AND CONTINGENCIES (Note 8)
STOCKHOLDERS’ DEFICIT    
Series D, G, H, H2, J, K, AA Convertible Preferred Stock, $.01 par value (Note 10) 1,098 1,099
Common stock, $.01 par value; 100,000,000 shares authorized; 13,682,910 and 9,120,526 shares issued and outstanding on December 31, 2022 and December 31, 2021, respectively 136,829 91,206
Warrants to acquire common stock 31,995,762 31,715,154
Additional paid-in capital 69,006,145 64,261,048
Accumulated deficit (133,826,205) (118,277,468)
TOTAL STOCKHOLDERS’ DEFICIT (32,686,371) (22,208,961)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 2,009,541 $ 2,832,461