Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and Cash Equivalents $ 10,606,091 $ 17,263,643
Accounts Receivable, Net 1,371,913 772,336
Note Receivable 250,000  
Inventories, Net 5,707,867 7,281,802
Manufacturing Vendor Prepayments 242,539 755,219
Prepaid Expenses and Other Assets 895,098 1,310,095
Total Current Assets 19,073,508 27,383,095
Long-Term Assets    
Fixed Assets, Net 4,327,676 4,291,690
Operating Lease Right-of-Use Asset 2,096,190  
Patents and Trademarks, Net 1,294,675 1,164,543
Licenses, Net 314,416 437,120
Intangible Asset, Net 990,000 1,398,000
Other Assets 350,000 459,192
Total Assets 28,446,465 35,133,640
Current Liabilities    
Accounts Payable 1,062,785 2,668,241
Customer Deposits   152,362
Unearned Revenue 142,463 211,726
Accrued Expenses 885,897 1,614,078
Taxes Payable 18,687 30,258
Operating Lease Right-of-Use Liability 524,825  
Total Current Liabilities 2,634,657 4,676,665
Long-Term Liabilities    
Operating Lease Right-of-Use Liability 1,571,365  
Total Liabilities 4,206,022 4,676,665
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, 2019 and December 31, 2018. 50 50
Common Stock - $.001 Par Value, 100,000,000 Shared Authorized; 33,128,620 Shares Issued and Outstanding as of December 31, 2019 and 27,591,670 as of December 31, 2018. 33,128 27,591
Additional Paid-in Capital 168,950,076 148,695,775
Accumulated Deficit (144,742,811) (118,266,441)
Total Stockholders' Equity 24,240,443 30,456,975
Total Liabilities and Stockholders' Equity $ 28,446,465 $ 35,133,640