Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash (Note 2) $ 1,572,125 $ 781,857
Restricted cash (Note 2) 750,185 275,611
Accounts receivable, net (Note 2) 1,124,236 360,475
Inventory (Note 3) 3,364,266 2,851,772
Prepaid expenses and other current assets 1,324,962 551,395
Total current assets 8,135,774 4,821,110
Accounts receivable (Note 2) 0 389,723
Inventory, net (Note 3) 5,110,004 6,478,727
Other asset 400,000 0
Property & equipment, net (Note 2) 131,368 242,702
Intangibles, net (Note 5) 3,845,050 3,871,600
Goodwill (Note 2) 2,788,300 2,788,300
Total other assets 12,274,722 13,771,052
Total assets 20,410,496 18,592,162
Current Liabilities:    
Accounts payable 1,053,794 523,581
Accrued expenses (Note 4) 583,622 378,218
Secured convertible promissory notes payable, net (Note 7) 1,138,691 1,897,976
Unsecured note payable (Note 7) 0 125,964
Unsecured note payable, net (Note 7) 797,437 0
Derivative liabilities (Note 7) 3,225 222,800
Total current liabilities 3,576,769 3,148,539
Non-current liabilities    
Unsecured note payable, net (Note 7) 0 679,174
Deferred tax liability 1,556,300 1,556,300
Total liabilities 5,133,069 5,384,013
Commitments and contingencies (Note 10)
Stockholders' equity (Notes 8 and 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; 89,418,427 and 57,617,545 shares issued and outstanding as of September 30,2017 and December 31, 2016, respectively 8,942 5,762
Additional paid-in capital 50,766,220 43,333,176
Accumulated deficit (35,497,735) (30,130,789)
Total stockholders' equity 15,277,427 13,208,149
Total liabilities and stockholders' equity $ 20,410,496 $ 18,592,162