Balance Sheet

v3.23.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 3,243,594 $ 2,361,059
Accounts receivable, net 1,958,103 1,010,554
Inventories, net 1,306,186 825,559
Contract assets 94,840 266,014
Prepaid expenses 702,500 735,092
Total current assets 7,305,223 5,198,278
Property and equipment, net 126,096 84,201
Other assets:    
Deposits 4,595 7,595
Operating lease right of use assets 442,903 570,512
Total other assets 447,498 578,107
Total Assets 7,878,817 5,860,586
Current liabilities:    
Accounts payable 1,145,658 1,865,535
Accrued liabilities 702,583 718,721
Line of credit 0 403,089
Contract liabilities - current 650,340 800,965
Lease Liabilities - current 157,334 195,176
Income taxes payable 6,297 5,431
Total current liabilities 2,662,212 3,988,917
Long-term liabilities:    
Lease liabilities 350,694 459,668
Contract liabilities - long term 49,213 140,265
Accrued royalties - long-term 220,000 360,000
Total long-term liabilities 619,907 959,933
Total liabilities 3,282,119 4,948,850
Stockholders’ Equity    
Common Stock, par value $.001 per share; 475,000,000 shares authorized; 299,212,282 and 136,311,335 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively. 299,212 136,311
Additional paid-in-capital 132,578,075 127,740,976
Accumulated deficit (129,953,413) (128,668,176)
Total stockholders’ equity 4,596,698 911,736
Total Liabilities and Stockholders’ Equity 7,878,817 5,860,586
Series A Preferred Stock [Member]    
Stockholders’ Equity    
Preferred Stock, Value 1,310,765 1,340,566
Series B Preferred Stock [Member]    
Stockholders’ Equity    
Preferred Stock, Value $ 362,059 $ 362,059

Source