Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash (Note 2) $ 1,408,322 $ 518,462
Accounts receivable, net (Note 2) 847,113 870,552
Notes receivable (Note 3) 540,351 617,681
Inventory (Note 4) 13,566,412 14,133,920
Prepaid expenses and other current assets 406,062 451,127
Total current assets 16,768,260 16,591,742
Property and equipment, net (Note 2) 341,900 439,615
Intangibles, net (Note 6) 5,191,300 5,620,000
Goodwill 4,643,812 4,643,812
Total other assets 10,177,012 10,703,427
Total assets 26,945,272 27,295,169
Current Liabilities:    
Accounts payable 896,002 659,408
Accrued expenses (Note 5) 339,445 522,719
Secured convertible promissory notes payable, net (Note 8) 1,711,550 881,803
Unsecured note payable 20,065 138,975
Contingent consideration 0 250,000
Total current liabilities 2,967,062 2,452,905
Non-current liabilities    
Unsecured note payable, net (Note 8) 600,332 0
Deferred tax liability 1,556,300 1,556,300
Total liabilities 5,123,694 4,009,205
Commitments and contingencies (Note 11)
Stockholders' equity (Note 9)    
Preferred stock, par value $0.0001; 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock, par value $0.0001; 190,000,000 shares authorized; 52,038,924 and 45,451,389 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively 5,203 4,544
Additional paid-in capital 41,565,885 39,270,911
Accumulated Deficit (19,749,510) (15,989,491)
Total stockholders' equity 21,821,578 23,285,964
Total liabilities and stockholders' equity $ 26,945,272 $ 27,295,169