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Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 824,572 $ 456,502
Accounts receivable – trade, net of allowances 3,164,139 2,943,954
Inventories, net of reserve 2,517,235 4,164,116
Prepaid expenses and other current assets 1,200,868 447,036
Total current assets 7,706,814 8,011,608
Property and equipment, net of accumulated depreciation 39,092 60,040
Intangible assets, net of accumulated amortization 6,482,683 6,833,477
Goodwill 4,181,991 4,181,991
Other assets 320 33,262
Total assets 18,410,900 19,120,378
Current liabilities:    
Accounts payable and accrued expenses 4,345,711 4,453,893
Accounts payable and accrued expenses – related parties 3,742,529 3,754,050
Short-term debt 2,071,291 2,791,582
Short-term debt – related parties 681,550 876,550
Convertible notes payable – related parties 1,050,000 50,000
Deferred revenues – short-term 607,342 495,603
Other short-term liabilities 250,000 251,537
Total current liabilities 12,748,423 12,673,215
Long-term convertible note payable – related parties 4,139,469 4,060,785
Deferred revenues – long-term 216,230 272,123
Total liabilities 17,104,122 17,006,123
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 50,000,000 shares authorized, 1,270,000 shares issued and outstanding 127 127
Common stock, $0.0001 par value, 200,000,000 shares authorized; 4,859,782 and 4,621,687 Class A shares issued and outstanding, respectively 486 461
Additional paid-in capital 9,200,239 7,615,732
Subscription receivable (325) (325)
Accumulated deficit (7,864,305) (5,488,822)
Other comprehensive loss (29,444) (12,918)
Total stockholders’ equity 1,306,778 2,114,255
Total liabilities and stockholders’ equity $ 18,410,900 $ 19,120,378