XML 42 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEET (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 706,350 $ 73,424
Cash - Restricted (Note 6) 70,124   
Accounts Receivable 805,809 215,657
Inventories (Note 2) 407,549   
Prepaids Expenses 7,980 5,400
Total Current Assets 1,997,812 294,481
Property & Equipment - net (Note 3) 164,068 47,906
Other Assets:    
Intangible Assets - net (Note 4) 3,026,564   
Deferred Financing Costs - net (Note 6) 542,116   
Security Deposits 2,543 500
Total Other Assets 3,571,223 500
TOTAL ASSETS 5,733,103 342,887
Current Liabilities:    
Accounts Payable and Accrued Expenses 383,349 225,487
Accrued Interest on Convertible Notes (Note 6) 211,194   
Accrued Officers Compensation (Note 9) 25,000 5,000
Common Stock to be Issued (Note 13) 150,871   
Loan Payable - Officer    3,988
Customer Deposits 14,105   
Derivative Liability (Note 7) 7,665,502   
Total Current Liabilities 8,450,021 234,475
Convertible Notes Payable, net of discount of $5,003,558 (Note 6) 70,442   
Total Long-term Liabilities 70,442   
Total Liabilities 8,520,463 234,475
Commitments and Contingencies      
Stockholders' Equity ( Deficiency):    
Cumulative Convertible Series A Preferred Stock; par value $0.01, 1,000,000 shares authorized; 510,000 shares issued and outstanding at December 31, 2013 and 2012 5,100 5,100
Cumulative Convertible Series B Preferred Stock; $1,000 stated value; 7.5% Cumulative dividend; 4,000 shares authorized; none issued and outstanding at December 31, 2013 and 2012      
Common stock; par value $0.01, 200,000,000 shares authorized; 79,867,217 and 75,455,585 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively. 798,672 754,555
Additional Paid-in Capital 15,674,958 12,956,535
Accumulated Deficit (19,266,090) (13,607,778)
Total Stockholders' Equity (Deficiency) (2,787,360) 108,412
Total Liabilities and Stockholders' Equity (Deficiency) $ 5,733,103 $ 342,887