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Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
 [1]
Current asset:    
Cash and cash equivalents $ 2,010,325 $ 456,502
Accounts receivable – trade, net of allowances 3,089,932 2,943,954
Inventories, net of reserve 4,626,569 4,164,116
Prepaid expenses and other current assets 388,006 447,036
Total current assets 10,114,832 8,011,608
Property and equipment, net of accumulated depreciation 29,752 60,040
Intangible assets, net of accumulated amortization 6,126,558 6,833,477
Goodwill 4,181,991 4,181,991
Other assets 292 33,262
Total assets 20,453,425 19,120,378
Current liabilities:    
Accounts payable and accrued expenses 2,994,918 4,453,893
Accounts payable and accrued expenses – related parties 4,391,713 3,754,050
Short-term debt 752,449 2,791,582
Short-term debt – related parties 54,000 876,550
Convertible notes payable – related party 50,000 50,000
Deferred revenues – short-term 1,127,423 495,603
Other short-term liabilities 251,537
Total current liabilities 9,370,503 12,673,215
Long-term convertible note payable – related parties 4,060,785
Deferred revenues – long-term 175,294 272,123
Total liabilities 9,545,797 17,006,123
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.0001 par value, 50,000,000 shares authorized; 250,000 and 1,270,000 shares issued and outstanding, respectively 25 127
Common stock, $0.0001 par value, 200,000,000 shares authorized; 9,558,997 and 4,621,687 Class A shares issued and outstanding, respectively 956 461
Additional paid-in capital 23,740,751 7,615,732
Subscriptions receivable (325) (325)
Accumulated deficit (12,785,931) (5,488,822)
Other comprehensive loss (47,848) (12,918)
Total stockholders’ equity 10,907,628 2,114,255
Total liabilities and stockholders’ equity $ 20,453,425 $ 19,120,378
[1] Financial information has been retrospectively adjusted for the acquisitions of Mimio and Genesis