Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and Cash Equivalents $ 10,085,837 $ 17,263,643
Accounts Receivable, Net 199,759 772,336
Inventories, Net 8,110,226 7,281,802
Manufacturing Vendor Prepayments 386,561 755,219
Prepaid Expenses and Other Assets 872,148 1,310,095
Total Current Assets 19,654,531 27,383,095
Long-Term Assets    
Fixed Assets, Net 4,517,169 4,291,690
Operating Lease Right-of-Use Assets, Net 860,277 0
Patents and Trademarks, Net 1,206,018 1,164,543
Software Development Costs, Net 175,000 200,000
Licenses, Net 406,849 437,120
Intangible Asset, net 1,296,000 1,398,000
Other Assets 296,600 259,192
Total Assets 28,412,444 35,133,640
Current Liabilities    
Accounts Payable 1,715,744 2,668,241
Operating Lease Right-of-Use Liabilities 533,289 0
Customer Deposits 74,615 152,362
Unearned Revenue 230,344 211,726
Accrued Expenses 943,010 1,614,078
Taxes Payable 77,554 30,258
Total Current Liabilities 3,574,556 4,676,665
Long-Term Liabilities    
Operating Lease Right-of-Use Liabilities 326,988 0
Total Liabilities 3,901,544 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 March 31, 2019 and December 31, 2018. 50 50
Common Stock - $.001 Par Value, 100,000,000 Shared Authorized; 27,597,917 Shares Issued and Outstanding as of March 31, 2019 and 27,591,670 as of December 31, 2018. 27,598 27,591
Additional Paid-in Capital 149,109,454 148,695,775
Accumulated Deficit (124,626,202) (118,266,441)
Total Stockholders' Equity 24,510,900 30,456,975
Total Liabilities and Stockholders' Equity $ 28,412,444 $ 35,133,640