v3.7.0.1
Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS    
Cash and cash equivalents $ 201,333 $ 138,363
Accounts receivable, net of $28,169 reserve at June 30, 2017 and December 31, 2016 564,048 281,320
Inventories, net of $20,000 reserve at June 30, 2017 and December 31, 2016 1,131,488 905,284
Prepaid income taxes 7,405 7,405
Prepaid expenses and other current assets 175,910 258,103
Total current assets 2,080,184 1,590,475
Investment in available-for-sale equity securities 25,986 25,865
Property and equipment, net 21,314 9,413
TOTAL ASSETS 2,127,484 1,625,753
CURRENT LIABILITIES    
Accounts payable 746,087 407,249
Accrued employee compensation 337,480 249,596
Accrued professional fees and other 1,354,615 956,884
Deferred revenue 180,397 159,654
Revolving note payable, net of unamortized debt discounts of $909,017 and $637,030, respectively 2,090,983 612,970
Related party convertible debt, net of debt discount of $99,065 and $0, respectively 192,069
Convertible debt, net of unamortized debt discounts of $1,037,619 and $2,235,839, respectively 7,916,803 4,005,702
Other debt, net of unamortized discounts of $111,771 and $380, respectively 1,769,376 238,157
Warrant derivative liability 1,950,681 1,685,108
Conversion option liability 907,386 951,059
Total current liabilities 15,162,825 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 $0 and $740,628, respectively 529,742
Deferred revenue 71,499 87,527
TOTAL LIABILITIES 15,234,324 10,009,171
COMMITMENTS AND CONTINGENCIES (Note 5)  
STOCKHOLDERS’ DEFICIT    
Common stock, $.01 par value; 100,000,000 shares authorized; 1,101,884 and 1,033,328 shares issued and outstanding on June 30, 2017 and December 31, 2016, respectively 11,019 10,333
Warrants to acquire common stock 7,082,460 6,325,102
Additional paid-in capital 28,234,884 27,544,265
Accumulated other comprehensive income 6,190
Accumulated deficit (48,442,465) (42,264,190)
Total stockholders’ deficit (13,106,840) (8,383,418)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 2,127,484 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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