Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets    
Cash and Cash Equivalents $ 13,229,182 $ 10,606,091
Accounts Receivable, Net 1,021,069 1,371,913
Accrued Project Revenue 175,005  
Note Receivable 250,000 250,000
Inventories, Net 6,256,333 5,707,867
Licenses 471,809  
Manufacturing Vendor Prepayments 617,330 242,539
Prepaid Expenses and Other Assets 902,540 895,098
Total Current Assets 22,923,268 19,073,508
Long-Term Assets    
Fixed Assets, Net 3,501,971 4,327,676
Operating Lease Right-of-Use Asset 1,726,700 2,096,190
Patents and Trademarks, Net 1,370,180 1,294,675
Licenses, Net 254,051 314,416
Intangible Asset, Net 775,910 990,000
Other Assets, Net 550,000 350,000
Total Assets 31,102,080 28,446,465
Current Liabilities    
Accounts Payable 832,584 1,062,785
Unearned Revenue 65,216 142,463
Accrued Expenses 762,926 885,897
Taxes Payable 24,601 18,687
Operating Lease Right-of-Use Liability 444,495 524,825
Current Portion of Debt 684,286  
Total Current Liabilities 2,814,108 2,634,657
Long-Term Liabilities    
Operating Lease Right-of-Use Liability 1,282,205 1,571,365
Long-Term Portion of Debt 871,614  
Total Long-Term Liabilities 2,153,819 1,571,365
Total Liabilities 4,967,927 4,206,022
Stockholders' Equity    
Preferred Stock - $.001 Par Value, 5,000,000 Shares Authorized; 49,626 Shares Issued and Outstanding as of June 30, 2020 and December 31, 2019. 50 50
Common Stock - $.001 Par Value, 100,000,000 Shared Authorized; 39,004,106 and 33,128,620 Shares Issued and Outstanding as of June 30, 2020 and December 31, 2019. 39,004 33,128
Additional Paid-in Capital 180,438,200 168,950,076
Accumulated Deficit (154,343,101) (144,742,811)
Total Stockholders' Equity 26,134,153 24,240,443
Total Liabilities and Stockholders' Equity $ 31,102,080 $ 28,446,465