XML 61 R2.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED BALANCE SHEET - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash and Cash Equivalents $ 897,223 $ 2,004,938
Accounts Receivable - net 1,494,658 2,145,622
Inventories (Note 3) 2,315,214 2,682,014
Deposits 141,052 109,441
Prepaid Expenses 187,664 301,797
Total Current Assets 5,035,811 7,243,812
Property & Equipment - net (Note 4) 1,367,864 1,588,591
Other Assets:    
Intangible Assets - net (Note 5) 939,010 1,235,816
Operating Lease - Right of Use Asset (Note - 6) 674,471 0
Capitalized Software Development Costs (Note 7) 94,278 0
Other Assets 114,033 11,395
Total Other Assets 1,821,792 1,247,211
Total Assets 8,225,467 10,079,614
Current Liabilities:    
Accounts Payable 713,222 1,133,649
Accrued Expenses and Other Current Liabilities (Note 11) 450,112 415,199
Accrued Officers Compensation 0 70,000
Accrued Interest (Note 6) 66,667 66,667
Customer Deposits 0 1,486
Current Portion of Long-Term Operating Lease 71,510 0
Deferred Rent 0 13,215
Convertible Notes Payable, net of discount of $0 at December 31, 2019 (Note 8) 5,000,000 0
Total Current Liabilities 6,301,511 1,700,216
Long-Term Operating Lease, Net of Current Portion (Note 6) 1,034,413 0
Deferred Rent and Tenant Improvement Allowances 0 401,734
Convertible Notes Payable, net of discount of $17,534 at December 31, 2018 (Note 8) 0 4,982,466
Total Long-Term Liabilities 1,034,413 5,384,200
Total Liabilities 7,335,924 7,084,416
Commitments and Contingencies 0 0
Stockholders' Equity:    
Common stock; par value $0.01 per share, 250,000,000 and 200,000,000 shares authorized at December 31, 2019 and December 31, 2018, respectively; 124,700,418 and 124,290,418 shares issued and outstanding at December 31, 2019 and December 31, 2018, respectively. 1,247,004 1,242,904
Additional Paid-in Capital 43,136,683 42,948,705
Accumulated Deficit (43,499,244) (41,201,511)
Total Stockholders' Equity 889,543 2,995,198
Total Liabilities and Stockholders' Equity 8,225,467 10,079,614
Series A Preferred Stock    
Stockholders' Equity:    
Cumulative Convertible Preferred Stock 5,100 5,100
Series B Preferred Stock    
Stockholders' Equity:    
Cumulative Convertible Preferred Stock $ 0 $ 0