Financials

v3.10.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2018
Dec. 31, 2017
ASSETS    
Cash $ 18,076 $ 43,888
Accounts receivable trade, net 356,729 77,700
Inventories 561,107 1,434,411
Prepaid expenses and other current assets 103,317 133,361
Total current assets 1,039,229 1,689,360
Furniture, fixtures and equipment, net 137,156 185,433
Operating right of use asset, net 35,638
Inventory not expected to be realized within one year 1,316,418 479,486
Deposits 18,336 16,086
Total assets 2,546,777 2,370,365
LIABILITIES AND STOCKHOLDERS' DEFICIT    
Accounts payable 236,384 133,303
Accrued expenses 221,076 634,791
Customer deposit 721
Operating lease liability - current portion 27,320
Insurance premium finance contract 49,543 63,364
Total current liabilities 535,044 831,458
Operating lease liability 8,861
Convertible notes - related party, net of discounts 976,862 969,186
Convertible line of credit - related party, net of discounts 3,088,055 5,328,530
Total liabilities 4,608,822 7,129,174
Commitments (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; 200,000,000 shares authorized; 98,808,163 and 74,914,703 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively. 98,808 74,915
Additional paid in capital 52,922,272 47,285,967
Accumulated deficit (55,083,125) (52,119,691)
Total stockholders' deficit (2,062,045) (4,758,809)
Total liabilities and stockholders' deficit $ 2,546,777 $ 2,370,365

Source

v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
Sales $ 607,596 $ 383,595 $ 1,268,032 $ 954,100
Cost of goods sold 209,090 112,386 414,687 297,027
Gross profit 398,506 271,209 853,345 657,073
Operating expenses:        
Selling, general and administrative expenses 1,042,127 1,028,948 3,183,426 3,046,871
Research and development 8,587 15,135 42,148 37,965
Total operating expenses 1,050,714 1,044,083 3,225,574 3,084,836
Loss from operations (652,208) (772,874) (2,372,229) (2,427,763)
Other income (expense)        
Interest income 4 1 7 9
Loss on conversion of debt (129,936) (129,936)
Interest expense (103,953) (213,091) (461,276) (636,839)
Total other income (expense) (233,885) (213,090) (591,205) (636,830)
Net loss $ (886,093) $ (985,964) $ (2,963,434) $ (3,064,593)
Net loss per common share - basic and diluted $ (0.01) $ (0.02) $ (0.03) $ (0.05)
Weighted average shares outstanding - basic and diluted 96,687,944 63,397,615 86,819,775 58,816,056

Source

v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Reconciliation of net loss to net cash used in operating activities:    
Net loss $ (2,963,434) $ (3,064,593)
Adjustments to reconcile net loss to net cash used in operating activities:    
Bad debt expense 10,653 11,116
Depreciation 63,344 68,229
Amortization of right of use assets 14,675
Amortization of debt discounts 137,265 148,306
Loss on conversion of debt 129,936
Options issued for services 30,703
Common stock issued for services 7,038
Stock option compensation expense 138,362 254,246
Changes in assets and liabilities:    
Accounts receivable (289,682) (181,543)
Inventories 36,372 (210,762)
Prepaid expenses and other current assets 105,972 49,952
Accounts payable 83,081 114,038
Deferred revenue 1,583
Lease liability (14,132)
Customer deposits 721
Other assets (2,250)
Settlement accrual (26,789)
Accrued expenses 325,915 461,270
Net cash used in operating activities (2,216,164) (2,344,244)
Cash flows from Investing Activities    
Purchases of equipment (15,067) (17,209)
Net cash used in investing activities (15,067) (17,209)
Cash flows from Financing Activities    
Proceeds from sale of stock under stock purchase agreement 210,555
Proceeds from sale of stock and warrants 2,180,000 1,921,000
Proceeds from issuance of stock 96,000
Proceeds from option exercise 3,596
Proceeds from advances on convertible line of credit with related parties 200,000
Payments on insurance finance contract (74,177) (63,877)
Net cash provided by financing activities 2,205,419 2,267,678
Net (decrease) in cash (25,812) (93,775)
Cash - beginning 43,888 151,184
Cash - ending 18,076 57,409
Supplemental Disclosure of Cash Flow Information:    
Cash paid for interest 2,207 2,315
Cash paid for income taxes
Supplementary Disclosure of Non-cash Investing and Financing Activities:    
Beneficial conversion feature of convertible notes 9,662
Loan discount from warrants 9,662
Options issued for legal services, recorded as prepaid expense 15,572 30,703
Recording right of use asset and related lease liability 50,313
Stock issued for accrued interest 719,630 506,874
Stock issued to convert debt 2,500,000 1,997,483
Prepaid insurance and related premium finance contracts $ 60,356 $ 53,666

Source