Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current Assets    
Cash and Cash Equivalents $ 6,142,658 $ 10,606,091
Accounts Receivable, Net 376,570 1,371,913
Accrued Project Revenue 160,206 0
Note Receivable 250,000 250,000
Inventories, Net 5,668,376 5,707,867
Licenses, Net 527,249 0
Manufacturing Vendor Prepayments 474,518 242,539
Prepaid Expenses and Other Assets 707,286 895,098
Total Current Assets 14,306,863 19,073,508
Long-Term Assets    
Fixed Assets, Net 3,880,275 4,327,676
Operating Lease Right-of-Use Asset 1,964,984 2,096,190
Patents and Trademarks, Net 1,261,841 1,294,675
Licenses, Net 284,234 314,416
Intangible Asset, Net 888,000 990,000
Other Assets, Net 441,430 350,000
Total Assets 23,027,627 28,446,465
Current Liabilities    
Accounts Payable 1,297,924 1,062,785
Unearned Revenue 99,714 142,463
Accrued Expenses 555,021 885,897
Taxes Payable 21,200 18,687
Operating Lease Right-of-Use Liability 524,825 524,825
Total Current Liabilities 2,498,684 2,634,657
Long-Term Liabilities    
Operating Lease Right-of-Use Liability 1,440,159 1,571,365
Total Liabilities 3,938,843 4,206,022
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, 2020 and December 31, 2019. 50 50
Common Stock - $.001 Par Value, 100,000,000 Shared Authorized; 33,128,620 Shares Issued and Outstanding as of March 31, 2020 and December 31, 2019. 33,128 33,128
Additional Paid-in Capital 169,160,041 168,950,076
Accumulated Deficit (150,104,435) (144,742,811)
Total Stockholders' Equity 19,088,784 24,240,443
Total Liabilities and Stockholders' Equity $ 23,027,627 $ 28,446,465