Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current Assets    
Cash and Cash Equivalents $ 17,263,643 $ 14,889,636
Accounts Receivable, Net 772,336 974,172
Accrued Project Revenue 0 497,784
Inventories, Net 7,281,802 3,852,317
Manufacturing Vendor Prepayments 755,219 154,717
Prepaid Expenses and Other Assets 1,310,095 873,947
Total Current Assets 27,383,095 21,242,573
Long-Term Assets    
Fixed Assets, Net 4,291,690 4,124,466
Patents and Trademarks, Net 1,164,543 813,774
Software Development Costs, Net 200,000 408,723
Licenses, Net 437,120 243,717
Intangible Asset, Net 1,398,000 0
Other Assets 259,192 0
Total Assets 35,133,640 26,833,253
Current Liabilities    
Accounts Payable 2,668,241 3,726,056
Customer Deposits 152,362 73,462
Unearned Revenue 211,726 107,824
Accrued Expenses 1,614,078 1,389,771
Derivative Liability 0 152,927
Taxes Payable 30,258 3,500
Total Current Liabilities 4,676,665 5,453,540
Total Liabilities 4,676,665 5,453,540
Stockholders' Equity    
Preferred Stock - $.001 Par Value, 5,000,000 Shares Authorized; 49,626 and 49,626 Shares Issued and Outstanding as of December 31, 2018 and December 31, 2017. 50 50
Common Stock - $.001 Par Value, 100,000,000 Shared Authorized; 27,591,670 Shares Issued and Outstanding as of December 31, 2018 and 24,276,275 as of December 31, 2017. 27,591 24,276
Additional Paid-in Capital 148,695,775 117,827,839
Accumulated Deficit (118,266,441) (96,472,452)
Total Stockholders' Equity 30,456,975 21,379,713
Total Liabilities and Stockholders' Equity $ 35,133,640 $ 26,833,253