Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and Cash Equivalents $ 14,889,636 $ 14,533,944
Accounts Receivable, Net 974,172 103,314
Accrued Project Revenue 497,784 0
Inventories, Net 3,852,317 2,651,218
Manufacturing Vendor Prepayments 154,717 144,168
Prepaid Expenses and Other Assets 873,947 797,409
Total Current Assets 21,242,573 18,230,053
Long-Term Assets    
Fixed Assets, Net 4,124,466 3,364,908
Patents and Trademarks, Net 813,774 535,461
Software Development Costs, Net 408,723 214,838
Licenses, Net 243,717 0
Total Assets 26,833,253 22,345,260
Current Liabilities    
Accounts Payable 3,726,056 1,085,472
Current Portion of Long-term Debt, Net of discounts 0 1,416,480
Customer Deposits 73,462 66,162
Unearned Revenue 107,824 509,572
Accrued Expenses 1,371,440 1,331,983
Derivative Liability 152,927 0
Income and Other Taxes Payable 3,500 12,290
Total Current Liabilities 5,435,209 4,421,959
Long-Term Liabilities    
Derivative Liability 0 173,131
Accrued Expenses 18,331 28,333
Total Long-Term Liabilities 18,331 201,464
Total Liabilities 5,453,540 4,623,423
Stockholders' Equity    
Preferred Stock — $.001 Par Value, 5,000,000 Shares Authorized; 49,626 and 49,626 Shares Issued and Outstanding December 31, 2017 and 2016. 50 50
Common Stock — $.001 Par Value, 100,000,000 Shares Authorized December 31, 2017 and 2016; 24,276,275 and 19,569,247 Shares Issued and Outstanding December 31, 2017 and 2016, respectively. 24,276 19,569
Additional Paid-in Capital 117,827,839 94,541,168
Accumulated Deficit (96,472,452) (76,838,950)
Total Stockholders' Equity 21,379,713 17,721,837
Total Liabilities and Stockholders' Equity $ 26,833,253 $ 22,345,260