Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.5.0.2
Consolidated Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 3,049,253 $ 7,677,163
Accounts receivable 536,600
Inventory 3,568,972 78,917
Prepaid expenses and deposits 144,183 3,149,289
Current assets, Total 7,299,008 10,905,369
Property, plant and equipment, net 3,598,138 3,736,359
Assets, Total 10,897,146 14,641,728
Current liabilities:    
Accounts payable 3,232,126 1,606,695
Accounts payable, related parties 55,904 399,542
Notes payable 13,534,426
Shareholder advances 1,420,773 111,700
Current portion of long-term debt 50,000 2,772,500
Current liabilities, Total 4,758,803 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 September 30, 2016 and December 31, 2015
Common stock, par value of $.001 per share 50,000,000 shares authorized, 26,369,003 shares issued and outstanding at September 30, 2016 and 18,204,923 shares issued and outstanding at December 31, 2015 26,369 18,205
Additional paid-in capital 55,599,550 33,557,615
Stock based compensation 6,608,470 6,158,390
Accumulated deficit (56,096,046) (43,517,345)
Stockholders' equity (deficit), Total 6,138,343 (3,783,135)
Liabilities and Stockholders' Equity (Deficit), Total $ 10,897,146 $ 14,641,728