Financials

v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Cash $ 149,292 $ 43,888
Accounts receivable trade, net 184,360 77,700
Inventories 959,388 1,434,411
Prepaid expenses and other current assets 114,434 133,361
Total current assets 1,407,474 1,689,360
Furniture, fixtures and equipment, net 165,855 185,433
Operating lease right of use assets 48,217
Inventory not expected to be realized within one year 960,960 479,486
Deposits 18,336 16,086
Total assets 2,600,842 2,370,365
LIABILITIES AND STOCKHOLDERS' DEFICIT    
Accounts payable 191,607 133,303
Accrued expenses 754,031 634,791
Customer deposit 14,970
Operating lease liability - current portion 24,216
Insurance premium finance contract 34,181 63,364
Total current liabilities 1,019,005 831,458
Operating lease liability 23,846
Convertible notes - related party, net of discounts 971,717 969,186
Convertible line of credit - related party, net of discounts 5,375,046 5,328,530
Total liabilities 7,389,614 7,129,174
Commitments and contingencies (Note 6)
Stockholders' deficit    
Preferred stock: $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding
Common stock: $0.001 par value; 150,000,000 shares authorized; 80,994,920 and 74,914,703 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively. 80,995 74,915
Additional paid in capital 48,266,467 47,285,967
Accumulated deficit (53,136,234) (52,119,691)
Total stockholders' deficit (4,788,772) (4,758,809)
Total liabilities and stockholders' deficit $ 2,600,842 $ 2,370,365
v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Income Statement [Abstract]    
Sales $ 262,879 $ 389,036
Cost of goods sold 81,198 131,230
Gross profit 181,681 257,806
Operating expenses:    
Selling, general and administrative expenses 1,004,891 1,006,634
Research and development 15,826 12,591
Total operating expenses 1,020,717 1,019,225
Loss from operations (839,036) (761,419)
Other income (expense)    
Interest income 5
Interest expense (177,507) (212,532)
Total other income (expense) (177,507) (212,527)
Net loss $ (1,016,543) $ (973,946)
Net loss per common share - basic and diluted $ (0.01) $ (0.02)
Weighted average shares outstanding - basic and diluted 78,179,403 54,701,836
v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Reconciliation of net loss to net cash used in operating activities:    
Net loss $ (1,016,543) $ (973,946)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 25,316 22,189
Amortization of debt discounts 49,047 48,574
Stock issued for services 2,900
Warrants issued for services 15,572 30,703
Employee stock option compensation expense 48,108 64,208
Changes in assets and liabilities:    
Accounts receivable (106,660) (100,276)
Inventories (6,451) (99,863)
Prepaid expenses and other current assets 16,677 13,237
Accounts payable 38,304 48,622
Accrued expenses 139,240 152,764
Settlement accrual (26,789)
Operating lease liability (2,251)
Customer deposits 14,970
Deferred revenue (4,000)
Net cash used in operating activities (781,771) (824,577)
Cash flows from Investing Activities    
Purchases of equipment (3,642) (1,257)
Net cash used in investing activities (3,642) (1,257)
Cash flows from Financing Activities    
Proceeds from sale of stock under stock purchase agreement 123,620
Proceeds from sale of stock and warrants 900,000 500,000
Proceeds from sale of stock 20,000
Proceeds from advances on convertible line of credit with related parties 200,000
Payments on insurance finance contract (29,183) (24,323)
Net cash provided by financing activities 890,817 799,297
Net increase (decrease) in cash and cash equivalents 105,404 (26,537)
Cash and cash equivalents - beginning 43,888 151,184
Cash and cash equivalents - ending 146,292 124,647
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 949 773
Cash paid for income taxes
Supplementary Disclosure of Non-cash Investing and Financing Activities:    
Beneficial conversion feature of convertible notes 9,661
Loan discount from warrants 9,661
Operating lease right of use assets and lease obligation 50,313
Options issued for services $ 15,572 $ 30,703