Balance Sheet

v3.7.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 121,438 $ 138,363
Accounts receivable, net of $28,169 reserve at March 31, 2017 and December 31, 2016 518,727 281,320
Inventories, net of $20,000 reserve at March 31, 2017 and December 31, 2016 940,383 905,284
Prepaid income taxes 7,405 7,405
Prepaid expenses and other current assets 207,745 258,103
Total current assets 1,795,698 1,590,475
Investment in available-for-sale equity securities 19,796 25,865
Property and equipment, net 22,571 9,413
TOTAL ASSETS 1,838,065 1,625,753
CURRENT LIABILITIES    
Accounts payable 672,729 407,249
Accrued employee compensation 250,039 249,596
Accrued professional fees and other 990,425 956,884
Deferred revenue 145,918 159,654
Revolving note payable, net of unamortized debt discounts of $839,969 and $637,030, respectively 1,410,031 612,970
Related party convertible debt, net of debt discount of $132,522 and $0, respectively 158,612
Convertible debt, net of unamortized debt discounts of $1,987,382 and $2,235,839, respectively 5,213,529 4,005,702
Other debt, net of unamortized discounts of $167,263 and $380, respectively 683,116 238,157
Warrant derivative liability 3,018,515 1,685,108
Conversion option liability 2,679,404 951,059
Total current liabilities 15,222,318 9,266,379
LONG TERM LIABILITIES    
Related party convertible debt, net of debt discount of $0 and $165,611, respectively 125,523
Convertible debt, net of debt discount of $5,575and $740,628, respectively 5,425 529,742
Deferred revenue 74,805 87,527
TOTAL LIABILITIES 15,302,548 10,009,171
COMMITMENTS AND CONTINGENCIES (Note 5)
STOCKHOLDERS' DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 31,809,839 and 30,999,839 shares issued and outstanding on March 31, 2017 and December 31, 2016, respectively 318,098 309,998
Warrants to acquire common stock 6,624,950 6,325,102
Additional paid-in capital 27,450,102 27,244,600
Accumulated deficit (47,858,705) (42,264,190)
Total stockholders' deficit (13,464,483) (8,383,418)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT 1,838,065 1,625,753
Series D Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 3 3
Series G Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 866 866
Series H Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 100 100
Series H2 Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value
Series J Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value 35 35
Series K Convertible Preferred Stock [Member]    
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, value $ 68 $ 68

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