Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash $ 2,012,965 $ 781,857
Restricted cash 778,579 275,611
Accounts receivable, net 1,507,824 360,475
Inventory 2,822,585 2,851,772
Prepaid expenses and other current assets 813,218 551,395
Total current assets 7,935,171 4,821,110
Accounts receivable 0 389,723
Inventory, net 5,667,101 6,478,727
Other assets 400,000 0
Property & equipment, net 2,083,433 242,702
Intangibles,net 3,836,200 3,871,600
Goodwill 2,788,300 2,788,300
Total other assets 14,775,034 13,771,052
Total assets 22,710,205 18,592,162
Current Liabilities:    
Accounts payable 678,271 523,581
Accrued expenses 1,931,920 378,218
Secured convertible promissory notes payable, net 609,926 1,897,976
Unsecured note payable 116,370 125,964
Derivative liability 0 222,800
Total current liabilities 3,336,487 3,148,539
Non-current liabilities:    
Unsecured note payable, net 850,000 679,174
Deferred rent 1,067,459 0
Deferred tax liability 1,074,800 1,556,300
Total liabilities 6,328,746 5,384,013
Stockholders' equity    
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; 90,512,563 and 57,617,545 shares issued and outstanding as of December 31, 2017 and 2016, respectively 9,051 5,762
Additional paid-in capital 51,400,336 43,333,176
Accumulated deficit (35,027,928) (30,130,789)
Total stockholders' equity 16,381,459 13,208,149
Total liabilities and stockholders' equity $ 22,710,205 $ 18,592,162