• Filing Date: 2014-08-14
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 1,730,903 $ 1,740,989
Accounts receivable, net of allowance for doubtful accounts of $30,000 and $30,000 as of 2014 and 2013, respectively 372,025 433,856
Inventory 205,213 109,073
Prepaid expenses and other current assets 136,153 141,921
Total Current Assets 2,444,294 2,425,839
Property and equipment, net of accumulated depreciation of $715,035 and $597,396 as of June 30, 2014 and December 31, 2013, respectively 366,740 466,772
Intangible assets, net of accumulated amortization of $198,936 and $153,416 as of 2014 and 2013, respectively 256,264 301,784
Other Assets 34,157 34,109
Total Assets 3,101,455 3,228,504
Current Liabilities:    
Accounts payable 513,302 485,401
Accrued expenses 124,718 177,943
Convertible Promissory Note 322,000 322,000
Total Current Liabilities 960,020 985,344
Commitments and Contingencies      
Stockholders' Equity:    
Preferred Stock, $.0001 par value; 5,000,000 shares authorized, zero and zero shares issued and outstanding at June 30, 2014 and December 31, 2013 respectively 0 0
Common stock, $.0001 par value; 200,000,000 and 100,000,000 shares authorized; 61,788,484 and 52,402,247 shares issued and outstanding at 2014 and 2013, respectively 6,179 5,240
Additional paid-in capital 25,938,975 21,948,920
Stock subscription receivable 0 (175,000)
Accumulated other comprehensive income (loss) 110 1,268
Accumulated deficit (23,772,328) (19,505,767)
Total 2,172,936 2,274,661
Less: Treasury Stock, at cost, 23,334 shares (31,501) (31,501)
Total Stockholders' Equity 2,141,435 2,243,160
Total Liabilities and Stockholders' Equity $ 3,101,455 $ 3,228,504