Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets    
Cash and Cash Equivalents $ 310,140 $ 66,554
Accounts Receivable, Net (Note 7) 214,920 170,600
Inventories (Note 8) 953,627 687,181
Deferred Offering Costs (Note 9) 0 199,571
Prepaid Expenses and Other Assets 200,936 85,768
Total Current Assets 1,679,623 1,209,674
Tooling and Equipment, Net (Note 10) 446,329 664,967
Patents and Trademarks, Net (Note 11) 495,608 551,307
Software Development, Net (Note 12) 240,561 0
Total Assets 2,862,121 2,425,948
Current Liabilities    
Accounts Payable 2,420,571 2,896,567
Lines of Credit (Note 13) 0 112,500
Notes Payable (Note 14) 278,467 258,209
Current Portion of Long-term Debt, net of discount (Note 20) 99,320 1,060,188
Current Portion of Capital Leases 24,670 57,244
Customer Deposits (Note 15) 170,777 63,079
Accrued Interest 36,935 161,703
Accrued Expenses (Note 16) 554,264 519,672
Income and Other Taxes Payable 75,851 21,486
Total Current Liabilities 3,660,855 5,150,648
Long-Term Liabilities    
Long Term Derivative Liability (Note 17) 12,035,816 0
Accrued Compensation (Note 18) 0 1,010,096
Long Term Portion of Term Debt, net of discount (Note 19) 170,496 1,715,253
Long Term Portion of Capital Leases (Note 20) 16,882 40,041
Long Term Portion of Accrued Interest 16,365 719,475
Total Long-Term Liabilities 12,239,559 3,484,865
Total Liabilities 15,900,414 8,635,513
Stockholders' Equity (Deficit)    
Preferred Stock — $.001 Par Value, 5,000,000 Shares Authorized; 0 Shares Issued and Outstanding in Each Period 0 0
Common Stock — $.001 Par Value, 700,000,000 Shares Authorized; 9,600,453 Shares Issued and Outstanding December 30, 2013 and 3,536,865 on December 31, 2012 9,600 3,537
Additional Paid-in Capital 23,244,639 19,933,202
Accumulated (Deficit) (36,292,532) (26,146,304)
Total Stockholders’ Equity (Deficit) (13,038,293) (6,209,565)
Total Liabilities and Stockholders’ Deficit $ 2,862,121 $ 2,425,948