Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 586,441 $ 4,069,477
Accounts receivable, less allowance for doubtful accounts of $0 at June 30, 2018 and December 31, 2017, respectively 165,197 1,013,423
Lease receivable 41,375 45,300
Inventory 4,964,669 4,621,942
Prepaid expenses and deposits 181,091 946,134
Current assets, Total 5,938,773 10,696,276
Property, plant and equipment, net of accumulated depreciation of $2,248,107 and $2,095,571 at June 30, 2018 and December 31, 2017, respectively 5,443,488 5,596,013
Lease receivable 221,357 212,004
Assets, Total 11,603,618 16,504,293
Current liabilities:    
Accounts payable 5,844,614 4,311,135
Accrued liabilities 2,061,308 1,718,397
Notes payable, related parties 550,000
Accounts payable, related parties 158,957 54,914
Customer deposits 320,000 54,405
Current portion of long-term debt 382,264 381,497
Current liabilities, other than notes payable 9,317,143 6,520,348
Principal amount of notes payable 5,750,000 5,750,000
Less: unamortized discount and debt issuance costs 987,500
Notes payable 5,750,000 4,762,500
Total current liabilities 15,067,143 11,282,848
Long-term debt 1,692,344 1,709,881
Stockholders' equity (deficit):    
Series A preferred stock, par value of $.001 per share 75,000,000 shares authorized, no shares issued and outstanding at June 30, 2018 and December 31, 2017
Common stock, par value of $.001 per share 100,000,000 shares authorized, 45,003,219 shares issued and outstanding at June 30, 2018 and 41,529,181 shares issued and outstanding at December 31, 2017 45,003 41,529
Additional paid-in capital 113,181,411 107,760,036
Accumulated deficit (118,382,283) (104,290,001)
Stockholders' equity (deficit), Total (5,155,869) 3,511,564
Liabilities and Stockholders' Equity (Deficit), Total $ 11,603,618 $ 16,504,293