Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 3,662,162 $ 7,677,163
Accounts receivable 476,100
Inventory 1,863,213 78,917
Prepaid expenses and deposits 698,349 3,149,289
Current assets, Total 6,699,824 10,905,369
Property, plant and equipment, net 3,636,998 3,736,359
Assets, Total 10,336,822 14,641,728
Current liabilities:    
Accounts payable 1,490,865 1,606,695
Accounts payable, related parties 23,955 399,542
Notes payable   13,534,426
Shareholder advances 1,922,996 111,700
Current portion of long-term debt 50,000 2,772,500
Current liabilities, Total 3,487,816 18,424,863
Long-term debt
Stockholders' equity (deficit):    
Series A preferred stock, par value of $.001 per share 75,000,000 shares authorized, 0 shares issued and outstanding at June 30, 2016 and December 31, 2015
Common stock, par value of $.001 per share 50,000,000 shares authorized, 24,235,509 shares issued and outstanding at June 30, 2016 and 18,204,923 shares issued and outstanding at December 31, 2015 24,237 18,205
Additional paid-in capital 51,555,885 33,557,615
Stock based compensation 6,102,071 6,158,390
Accumulated deficit (50,833,187) (43,517,345)
Stockholders' equity (deficit), Total 6,849,006 (3,783,135)
Liabilities and Stockholders' Equity (Deficit), Total $ 10,336,822 $ 14,641,728