Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash (Note 2) $ 956,917 $ 781,857
Restricted cash (Note 2) 940,653 275,611
Accounts receivable, net (Note 2) 648,082 360,475
Inventory (Note 3) 3,263,965 2,851,772
Prepaid expenses and other current assets 1,445,376 551,395
Total current assets 7,254,993 4,821,110
Accounts receivable (Note 2) 0 389,723
Inventory, net (Note 3) 5,193,952 6,478,727
Property & equipment, net (Note 2) 162,265 242,702
Intangibles, net (Note 5) 3,853,900 3,871,600
Goodwill 2,788,300 2,788,300
Total other assets 11,998,417 13,771,052
Total assets 19,253,410 18,592,162
Current Liabilities:    
Accounts payable 831,742 523,581
Accrued expenses (Note 4) 515,148 378,218
Secured convertible promissory notes payable, net (Note 7) 1,350,480 1,897,976
Unsecured note payable (Note 7) 18,197 125,964
Unsecured note payable, net (Note 7) 758,016 0
Derivative liabilities (Note 7) 14,213 222,800
Total current liabilities 3,487,796 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 5,044,096 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; 86,311,336 and 57,617,545 shares issued and outstanding as of June 30, 2017 and December 31, 2016, respectively 8,631 5,762
Additional paid-in capital 49,108,435 43,333,176
Accumulated deficit (34,907,752) (30,130,789)
Total stockholders' equity 14,209,314 13,208,149
Total liabilities and stockholders' equity $ 19,253,410 $ 18,592,162