• Filing Date: 2016-03-30
  • Form Type: 10-K
  • Description: Annual report
v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets:    
Cash and cash equivalents $ 2,044,662 $ 1,654,171
Accounts receivable, net 323,313 445,892
Inventory, net 117,893 190,854
Prepaid expenses and other current assets 634,372 152,502
Total Current Assets 3,120,240 2,443,419
Property and equipment, net 103,355 262,480
Intangible assets, net 65,717 94,328
Other Assets 41,858 33,741
Total Assets 3,331,170 2,833,968
Current Liabilities:    
Accounts payable 538,632 609,957
Accrued expenses 474,000 369,383
Derivative liability 576,557 0
Convertible promissory notes 4,276,194 322,000
Total Current Liabilities 5,865,383 1,301,340
Long-term portion of convertible promissory notes 1,571,773 2,573,979
Total Liabilities 7,437,156 3,875,319
Stockholders' Equity:    
Preferred Stock, $.0001 par value; 5,000,000 shares authorized, 200,000 and zero shares issued and outstanding at December 31, 2015 and December 31, 2014 respectively 20 0
Common stock, $.0001 par value; 200,000,000 and 200,000,000 shares authorized; 78,781,757 and 64,818,243 shares issued and outstanding at December 31, 2015, and December 31, 2014, respectively 7,887 6,482
Additional paid-in capital 36,356,626 28,966,269
Accumulated other comprehensive income (loss) 1,072 (2,236)
Accumulated deficit (40,471,590) (30,011,866)
Total Stockholders' Deficit (4,105,985) (1,041,351)
Total Liabilities and Stockholders' Deficit $ 3,331,170 $ 2,833,968