Financials

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current Assets    
Cash $ 47,290 $ 245,026
Accounts receivable 145,757 157,069
Other receivables 86,888
Inventory 131,455 294,714
Prepaid expenses 46,153 204,532
Short-term receivable 150,000
Total Current Assets 370,655 1,138,229
Property and Equipment, net of accumulated depreciation 30,393 87,173
Deposits 2,751 2,751
Total Assets 403,799 1,228,153
Current Liabilities    
Interest payable 103,709 69,222
Accounts payable 750,958 196,171
Other payables 37,377
Accounts payable to related parties 91,302 12,319
Accrued payroll 451,207
Accrued liabilities 210,846 64,000
Notes payable, current portion 99,017 132,294
Short-term note payable, net of debt discount 598,119
Dividend payable 57,813
Unearned revenue 1,048
Total Current Liabilities 2,400,348 475,054
Long-Term Liabilities    
Notes payable, net of current portion 38,990
Deferred rent 267 688
Total Long-Term Liabilities 267 39,678
Total Liabilities 2,400,615 514,732
Stockholders' (Deficit) Equity    
Common stock - $.001 par value: 49,500,000 shares authorized, 24,717,270 and 21,163,013 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively 24,717 21,163
Additional paid-in capital 35,812,202 33,509,648
Accumulated deficit (37,833,744) (32,817,403)
Total Stockholders' (Deficit) Equity (1,996,816) 713,421
Total Liabilities and Stockholders' Equity (Deficit) 403,799 1,228,153
Series A Preferred Stock [Member]    
Stockholders' (Deficit) Equity    
Preferred stock value 13
Series B Preferred Stock [Member]    
Stockholders' (Deficit) Equity    
Preferred stock value $ 9

Source

v3.19.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]    
Revenues, net of discount of $9,484 and $52, respectively $ 818,211 $ 207,344
Cost of Goods Sold (502,789) (162,837)
Gross Profit 315,422 44,507
Operating Expenses    
General and administrative 3,972,446 4,721,893
Sales & Marketing 808,223 865,377
Research and development 204,690 491,076
Loss on asset disposal 32,865
Depreciation and amortization 23,915 27,100
Total Operating Expenses 5,042,139 6,105,446
Operating Loss (4,726,717) (6,060,939)
Other Income 957
Other Expenses    
Foreign currency transaction loss 19,727
Interest expense 162,200 395,332
Total Other Expenses 181,927 395,322
Loss from Continuing Operations (4,908,644) (6,455,314)
Discontinued Operations    
Loss from discontinued operations 1,163
Total Loss from Discontinued Operations (1,163)
Net Loss (4,908,644) (6,456,477)
Deemed dividend on outstanding Series B Preferred Stock (57,813)
Deemed dividend on adjustment to exercise price on certain warrants (107,697)
Deemed dividend on beneficial conversion features (403,719)
Net loss attributable to common shareholders $ (5,477,873)
Loss per share - Basic and Diluted    
Continued Operations $ (0.23) $ (0.34)
Discontinued Operations
Net Loss per share $ (0.23) $ (0.34)
Weighted average outstanding shares used to compute basic and diluted net loss per share 23,458,305 19,142,795

Source

v3.19.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities    
Net loss $ (4,908,644) $ (6,456,477)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 23,915 27,100
Disposal loss 32,865
Amortization of debt discount 118,340 31,773
Debt conversion expense 355,985
Stock based compensation 120,326 683,169
Straight-line rent adjustment (421) (491)
Common stock issued for consulting services 24,000 114,500
Common stock issued for bonuses 209,978
Equity-based severance payments 136,000
Equity-based directors fees 180,000
Changes in operating assets and liabilities, net of effects of disposition:    
Accounts receivable 11,312 (157,069)
Other receivables 86,888 (86,888)
Prepaid expenses 158,379 229,632
Inventory 163,259 (294,714)
Unearned revenue (1,048) 1,048
Accounts payable 554,787 (29,554)
Other payables 37,377
Interest payable 34,487
Accounts payable to related parties 78,983 12,319
Accrued payroll 451,207
Accrued liabilities 146,846 (20,800)
Net Cash Used in Operating Activities (2,341,164) (5,590,467)
Cash Flows from Investing Activities    
Proceeds from disposition of, net assets of Streamline Inc. 150,000
Expenditures for property and equipment (16,682)
Net Cash (Used in) Provided by Investing Activities 150,000 (16,682)
Cash Flows from Financing Activities    
Principal payments under note payable obligation (171,072) (127,885)
Proceeds from issuance of common stock and preferred stock, net of offering costs 774,502 3,838,671
Proceeds from issuance of warrants, net of offering costs 610,220 1,248,575
Proceeds from issuance of promissory notes 174,354
Proceeds from issuance of convertible notes 605,424
Net Cash Provided by Financing Activities 1,993,428 4,959,361
Net Decrease in Cash (197,736) (647,788)
Cash - Beginning of period 245,026 892,814
Cash - End of period 47,290 245,026
Cash paid for interest 6,020 7,161
Non-cash investing and financing activities    
Finance agreement for insurance policy 74,672 69,343
Conversion of note and accrued interest to common stock and preferred stock 101,194 826,874
Conversion of short-term loan to common stock 145,919
Issuance of warrants for conversion of note 177,207
Issuance of common stock for consulting services 24,000 114,500
Common stock issued for board of director fees 180,000 375,000
Common stock issued for bonus compensation 209,978
Common stock issued for severance 136,000
Issuance of common stock for preferred stock conversion 940
Issuance of common stock warrants for placement agent fees 153,688
Issuance of warrants for promissory note 25,646
Dividends accrued $ 57,813

Source

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