Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,994,368 $ 4,069,477
Accounts receivable, less allowance for doubtful accounts of $52,800 and $0 at September 30, 2018 and December 31, 2017, respectively 1,708 1,013,423
Lease receivable 41,375 45,300
Inventory 4,938,353 4,621,942
Prepaid expenses and deposits 536,411 946,134
Current assets, Total 8,512,215 10,696,276
Property, plant and equipment, net of accumulated depreciation of $2,311,024 and $2,095,571 at September 30, 2018 and December 31, 2017, respectively 5,442,000 5,596,013
Lease receivable 211,013 212,004
Assets, Total 14,165,228 16,504,293
Current liabilities:    
Accounts payable 2,912,747 4,311,135
Accrued liabilities 2,060,811 1,718,397
Common stock warrant liability 2,013,128
Accounts payable, related parties 45,764 54,914
Customer deposits 364,000 54,405
Current portion of long-term debt 381,497
Current liabilities, other than notes payable 7,396,450 6,520,348
Arosa Loan 7,800,000
Unamortized discount and issuance costs (3,022,084)
Net Arosa Loan 4,777,916
Senior Secured Notes 5,750,000
Less: unamortized discount and debt issuance costs 987,500
Net Senior Secured Notes 4,762,500
Total current liabilities 12,174,366 11,282,848
Long-term debt   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 September 30, 2018 and December 31, 2017
Common stock, par value of $.001 per share 100,000,000 shares authorized, 56,270,934 shares issued and outstanding at September 30, 2018 and 41,529,181 shares issued and outstanding at December 31, 2017 56,271 41,529
Additional paid-in capital 125,802,427 107,760,036
Accumulated deficit (123,867,836) (104,290,001)
Stockholders' equity (deficit), Total 1,990,862 3,511,564
Liabilities and Stockholders' Equity (Deficit), Total $ 14,165,228 $ 16,504,293