Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash $ 733,319 $ 222,410
Inventory 958,575 986,674
Deposits and other assets 92,231 94,220
Prepaid expenses 64,574 14,380
Total current assets 1,848,699 1,317,684
PROPERTY AND EQUIPMENT, net 22,434 26,041
INTANGIBLE ASSETS, net 422,221 424,757
TOTAL ASSETS 2,293,354 1,768,482
CURRENT LIABILITIES    
Accrued payroll and payroll related expenses 3,575,591 3,774,580
Notes payable, current portion, net of discount of $0 and $4,592 as of September 30, 2014 and December 31, 2013, respectively    9,039,444
Accounts payable 528,809 682,319
Accrued interest    657,092
Fees payable to directors 418,546 468,546
Employee settlement 50,000 50,000
Patent license payable, current 10,000 10,000
Other current liabilities    12,613
Total current liabilities 4,582,946 14,694,594
NON-CURRENT LIABILITIES    
Patent license payable, less current portion    10,000
Total non-current liabilities    10,000
COMMITMENTS AND CONTINGENCIES      
Total liabilities 4,582,946 14,704,594
STOCKHOLDERS' DEFICIT    
Common stock - $0.001 par value; 400,000,000 shares authorized, 63,635,930 and 33,229,093 shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively 63,636 33,229 [1]
Additional paid in capital 46,201,645 19,867,961 [1]
Deferred compensation (470,823)   
Accumulated deficit (48,084,050) (32,897,657)
Total stockholders' deficit (2,289,592) (12,936,112)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT 2,293,354 1,768,482
Preferred Series A [Member]
    
STOCKHOLDERS' DEFICIT    
Preferred stock    40,118
Preferred Series B [Member]
    
STOCKHOLDERS' DEFICIT    
Preferred stock    $ 20,237
[1] December 31, 2013 retroactively adjusted to reflect effects of the reverse acquisition transaction.