Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS    
Cash $ 243,753 $ 2,236,837
Accounts receivable 157,082 37,243
Inventories 1,480,380 340,425
Deposits and other assets 119,066 90,831
Prepaid expenses 24,083 22,838
Total current assets 2,024,364 2,728,174
PROPERTY AND EQUIPMENT, net 1,901
INTANGIBLE ASSETS, net 434,534 426,610
TOTAL ASSETS 2,458,898 3,156,685
CURRENT LIABILITIES    
Accrued payroll and payroll related expenses 3,428,011 3,404,610
Accounts payable and accrued expenses 1,996,097 603,391
Fees payable to directors 418,546 418,546
Accrued separation costs, current portion 9,000
Employee settlement 50,000 50,000
Total current liabilities 5,901,654 4,476,547
ACCRUED SEPERATION COSTS, net of current portion 92,635 85,615
COMMITMENTS AND CONTINGENCIES
Total liabilities 5,994,289 4,562,162
STOCKHOLDERS' DEFICIT    
Preferred Stock - $0.001 par value; 50,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2018 and 2017, respectively
Common stock - $0.001 par value; 400,000,000 shares authorized, 133,888,573 and 122,674,516 shares issued and outstanding as of December 31, 2018 and 2017, respectively 133,889 122,675
Additional paid-in-capital 58,274,038 56,401,069
Deferred compensation (10,125)
Accumulated deficit (61,943,318) (57,919,096)
Total stockholders' deficit (3,535,391) (1,405,477)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,458,898 $ 3,156,685