Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.7.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets    
Cash and Cash Equivalents $ 6,129,342 $ 14,533,944
Accounts Receivable 142,530 103,314
Accrued Revenue 420,314 0
Inventories, Net 3,407,141 2,651,218
Manufacturing Vendor Prepayments 206,148 144,168
Prepaid Expenses and Other Assets 517,512 797,409
Total Current Assets 10,822,987 18,230,053
Long-Term Assets    
Fixed Assets, Net 3,586,193 3,364,908
Patents and Trademarks, Net 587,127 535,461
Software Development Costs, Net 171,611 214,838
Total Assets 15,167,918 22,345,260
Current Liabilities    
Accounts Payable 1,809,146 1,085,472
Current Portion of Long-Term Debt, net of discount 0 1,416,480
Customer Deposits 47,409 66,162
Unearned Revenue 139,038 509,572
Accrued Expenses 1,064,451 1,331,983
Income and Other Taxes Payable 2,594 12,290
Total Current Liabilities 3,062,638 4,421,959
Long-Term Liabilities    
Derivative Liability 163,987 173,131
Accrued Expenses 23,333 28,333
Total Long-Term Liabilities 187,320 201,464
Total Liabilities 3,249,958 4,623,423
Stockholders’ Equity    
Preferred Stock — $.001 Par Value, 5,000,000 Shares Authorized; 49,626 Shares Issued and Outstanding June 30, 2017, and December 31, 2016 50 50
Common Stock — $.001 Par Value, 100,000,000 Shares Authorized; 20,609,182 Shares Issued and Outstanding June 30, 2017 and 19,569,247 on December 31, 2016 20,609 19,569
Additional Paid-in Capital 96,988,013 94,541,168
Accumulated Deficit (85,090,712) (76,838,950)
Total Stockholders’ Equity 11,917,960 17,721,837
Total Liabilities and Stockholders’ Equity $ 15,167,918 $ 22,345,260