Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.20.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS    
Cash $ 51,191 $ 19,303
Accounts receivable 103,591 205,768
Inventories 1,116,560 1,177,831
Deposits and other assets 3,063 2,066
Prepaid expenses 168,252 181,093
Total current assets 1,442,657 1,586,061
INTANGIBLE ASSETS, net 420,912 420,373
RIGHT TO USE LEASED ASSETS 9,606 12,488
TOTAL ASSETS 1,873,175 2,018,922
CURRENT LIABILITIES    
Accrued payroll and payroll related expenses, current portion 3,788,788 3,687,376
Accounts payable and accrued expenses 1,570,898 1,544,402
Fees payable to directors 418,546 418,546
Accrued separation costs, current portion 9,750 9,000
Current portion of related party notes payable 575,000 575,000
Related party convertible notes payable 901,220 651,721
Convertible notes payable, net of discount 430,546 358,289
Employee settlement 50,000 50,000
Lease liability, current portion 9,606 11,527
Derivative liability on convertible notes payable 619,508 827,314
Total current liabilities 8,373,862 8,133,175
NON-CURRENT LIABILITIES    
Related party notes payable, less of current portion 1,000,000 1,000,000
Accrued separation costs, less current portion 80,635 83,635
Lease liability, less current portion 961
Total non-current liabilities 1,080,635 1,084,596
COMMITMENTS AND CONTINGENCIES
Total liabilities 9,454,497 9,217,771
STOCKHOLDERS' DEFICIT    
Preferred Stock - $0.001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding as of March 31, 2020, and December 31, 2019, respectively
Common stock - $0.001 par value; 400,000,000 shares authorized, 762,098 and 687,564 shares issued and outstanding as of March 31,2020, and December 31, 2019, respectively 762 688
Additional paid-in-capital 60,457,139 59,836,818
Accumulated deficit (68,039,223) (67,036,355)
Total stockholders' deficit (7,581,322) (7,198,849)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,873,175 $ 2,018,922