• Filing Date: 2015-04-09
  • Form Type: 10-K
  • Description: Annual report
v2.4.1.9
Statement - CONDENSED CONSOLIDATED BALANCE SHEET (USD $)
Dec. 31, 2014
Dec. 31, 2013
CURRENT ASSETS:    
Cash $ 523,441us-gaap_CashAndCashEquivalentsAtCarryingValue $ 44,553us-gaap_CashAndCashEquivalentsAtCarryingValue
Accounts Receivable, net of allowance for bad debt of $18,462 and $13,014 278,261us-gaap_AccountsAndOtherReceivablesNetCurrent 221,549us-gaap_AccountsAndOtherReceivablesNetCurrent
Inventory, net of allowance for obsolescence of $46,007 and $114,404 402,530us-gaap_InventoryNet 307,502us-gaap_InventoryNet
Employee Advances 0us-gaap_DueFromEmployeesCurrent 3,620us-gaap_DueFromEmployeesCurrent
Deferred Loan Costs 0us-gaap_DeferredFinanceCostsCurrentGross 1,032us-gaap_DeferredFinanceCostsCurrentGross
Prepaid and Other Assets 6,295us-gaap_PrepaidExpenseAndOtherAssetsCurrent 76,203us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Total Current Assets 1,210,527us-gaap_AssetsCurrent 654,459us-gaap_AssetsCurrent
LONG-TERM ASSETS:    
Property Plant and Equipment, net of accumulated depreciation of $22,477 and $17,062 45,428us-gaap_PropertyPlantAndEquipmentNet 29,259us-gaap_PropertyPlantAndEquipmentNet
Intangible Assets, net of accumulated depreciation of $267,913 and $216,882 242,397us-gaap_IntangibleAssetsNetExcludingGoodwill 293,428us-gaap_IntangibleAssetsNetExcludingGoodwill
Total Long-Term Assets 287,825us-gaap_AssetsNoncurrent 322,687us-gaap_AssetsNoncurrent
TOTAL ASSETS 1,498,352us-gaap_Assets 977,146us-gaap_Assets
CURRENT LIABILITIES:    
Accounts Payable 210,266us-gaap_AccountsPayableCurrent 192,166us-gaap_AccountsPayableCurrent
Accrued Royalties and Dividends 324,286us-gaap_AccruedRoyaltiesCurrent 375,000us-gaap_AccruedRoyaltiesCurrent
Capital Lease Obligation 4,504us-gaap_CapitalLeaseObligationsCurrent 0us-gaap_CapitalLeaseObligationsCurrent
Accrued Liabilities 0us-gaap_AccruedLiabilitiesCurrent 260us-gaap_AccruedLiabilitiesCurrent
Accrued Interest - Related Parties 0fil_InterestPayableRelatedPartiesCurrent 29,255fil_InterestPayableRelatedPartiesCurrent
Accrued Interest 181,431us-gaap_InterestPayableCurrent 107,582us-gaap_InterestPayableCurrent
Derivative Liabilities 1,708us-gaap_DerivativeLiabilitiesCurrent 1,040,850us-gaap_DerivativeLiabilitiesCurrent
Convertible Notes Payable - Related Parties 0fil_ConvertibleNotesPayableRelatedParties 115,620fil_ConvertibleNotesPayableRelatedParties
Notes Payable - Related Parties 392,920us-gaap_NotesPayableRelatedPartiesClassifiedCurrent 300,900us-gaap_NotesPayableRelatedPartiesClassifiedCurrent
Convertible Notes Payable, net of unamortized discounts of $0 and $50,837 1,200,000us-gaap_ConvertibleNotesPayableCurrent 1,284,063us-gaap_ConvertibleNotesPayableCurrent
Total Current Liabilities 2,315,115us-gaap_LiabilitiesCurrent 3,445,696us-gaap_LiabilitiesCurrent
LONG-TERM LIABILITIES    
Capital Lease Obligation 8,633us-gaap_CapitalLeaseObligationsNoncurrent 0us-gaap_CapitalLeaseObligationsNoncurrent
Total Long-Term Liabilities 8,633us-gaap_LiabilitiesNoncurrent 0us-gaap_LiabilitiesNoncurrent
TOTAL LIABILITIES 2,323,748us-gaap_Liabilities 3,445,696us-gaap_Liabilities
STOCKHOLDERS' EQUITY (DEFICIT)    
Series A Preferred Stock, $10 par value, 5,000,000 shares authorized; none issued and outstanding 0fil_SeriesAPreferredStock 0fil_SeriesAPreferredStock
Series B Preferred Stock, $10 par value, 75,000 shares authorized; none issued and outstanding 0fil_SeriesBPreferredStockValue 0fil_SeriesBPreferredStockValue
Series C Convertible Preferred Stock, $10 par value,100,000 shares authorized; 70,411 issued and outstanding as of December 31, 2014 and 38,232 issued and outstanding as of December 31, 2013 704,110fil_SeriesCConvertiblePreferredStock10ParValue100000SharesAuthorized38232IssuedAndOutstandingAsOfDecember312013. 382,320fil_SeriesCConvertiblePreferredStock10ParValue100000SharesAuthorized38232IssuedAndOutstandingAsOfDecember312013.
Series D Convertible Preferred Stock, $10 par value,25,000 shares authorized; 12,545 issued and outstanding as of December 31, 2014 15,000 issued and outstanding as of December 31, 2013 125,450fil_SeriesDConvertiblePreferredStock10ParValue25000SharesAuthorized15000IssuedAndOutstandingAsOfDecember312013. 150,000fil_SeriesDConvertiblePreferredStock10ParValue25000SharesAuthorized15000IssuedAndOutstandingAsOfDecember312013.
Series E Convertible Preferred Stock, $10 par value, 5,000 shares authorized; none issued and outstanding 0fil_SeriesEConvertiblePreferredStock10ParValue5000SharesAuthorizedNoneIssuedAndOutstanding 0fil_SeriesEConvertiblePreferredStock10ParValue5000SharesAuthorizedNoneIssuedAndOutstanding
Common Stock: $.001 par value;250,000,000 shares authorized; 92,902,320 issued and 92,898,231 outstanding as of December 31, 2014 85,664,558 issued and 85,660,469 outstanding as of December 31, 2013 92,902us-gaap_CommonStockValue 85,664us-gaap_CommonStockValue
Additional Paid-in Capital 43,707,731us-gaap_AdditionalPaidInCapital 40,090,878us-gaap_AdditionalPaidInCapital
Treasury Stock (12,039)us-gaap_TreasuryStockValue (12,039)us-gaap_TreasuryStockValue
Accumulated Deficit (45,443,550)us-gaap_RetainedEarningsAccumulatedDeficit (43,165,373)us-gaap_RetainedEarningsAccumulatedDeficit
Total Stockholders' Deficit (825,396)us-gaap_StockholdersEquity (2,468,550)us-gaap_StockholdersEquity
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,498,352us-gaap_LiabilitiesAndStockholdersEquity $ 977,146us-gaap_LiabilitiesAndStockholdersEquity