Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2023
Dec. 31, 2022
CURRENT ASSETS    
Cash and cash equivalents $ 239,023 $ 3,865
Accounts receivable 392,154 295,374
Inventories, net of $982,973 and $982,973 reserve, respectively 666,045 686,383
Prepaid expenses and other current assets 257,552 257,527
Total current assets 1,554,774 1,243,149
Investment in equity securities 71,699 63,638
Property and equipment, net 99,872 103,351
Right of use asset operating leases 191,816 282,095
Intangible assets, net 295,673 317,308
TOTAL ASSETS 2,213,834 2,009,541
CURRENT LIABILITIES    
Accounts payable 768,967 637,238
Accrued employee compensation 268,546 167,247
Accrued professional fees and other 2,453,995 2,497,762
Accrued interest and dividends payable 10,811,069 10,803,983
Deferred revenue 475,987 58,242
Convertible debt, net of unamortized debt discounts of $1,673,288 and $455,517, respectively 17,741,416 17,823,669
Other debt, net of unamortized discounts of $485,672 and $0, respectively 1,185,028 1,638,969
Related party, net of unamortized debt discount of $4,715 and $7,915, respectively 632,085 634,885
Right of use operating lease liability 65,029 142,171
Total current liabilities 34,402,122 34,404,166
LONG TERM LIABILITIES    
Long term debt 163,838 150,000
Right of use operating lease liability long term 90,052 139,924
Deferred revenue 7,143 1,822
TOTAL LIABILITIES 34,663,155 34,695,912
COMMITMENTS AND CONTINGENCIES (Note 4)
STOCKHOLDERS’ DEFICIT    
Series D, G, H, H2, J, K, AA Convertible Preferred Stock, $.01 par value (Note 6) 86 1,098
Common stock, $.01 par value; 100,000,000 shares authorized; 18,064,240 and 13,682,910 shares issued and outstanding on March 31, 2023 and December 31, 2022, respectively 180,643 136,829
Warrants to acquire common stock 32,057,371 31,995,762
Additional paid-in capital 76,428,425 69,006,145
Accumulated deficit (141,115,846) (133,826,205)
TOTAL STOCKHOLDERS’ DEFICIT (32,449,321) (32,686,371)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 2,213,834 $ 2,009,541