Balance Sheet

v3.22.1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 5,878,897 $ 2,361,059
Accounts receivable, net 1,965,244 1,010,554
Inventories, net 1,074,952 825,559
Contract assets 128,872 266,014
Prepaid expenses 464,165 735,092
Total current assets 9,512,130 5,198,278
Property and equipment, net 74,749 84,201
Other assets:    
Deposits 7,595 7,595
Operating lease right of use assets 536,114 570,512
Total other assets 543,709 578,107
Total Assets 10,130,588 5,860,586
Current liabilities:    
Accounts payable 1,623,486 1,865,535
Accrued liabilities 817,511 718,721
Line of credit 436,136 403,089
Contract liabilities – current 815,478 800,965
Operating lease liabilities – current 145,409 195,176
Income taxes payable 5,431 5,431
Total current liabilities 3,843,451 3,988,917
Long-term liabilities:    
Contract liabilities – long-term 125,624 140,265
Operating lease liabilities – long-term 470,591 459,668
Accrued royalties – long-term 325,000 360,000
Total long-term liabilities 921,215 959,933
Total liabilities 4,764,666 4,948,850
Commitments and contingencies
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 March 31, 2022 and December 31, 2021, respectively. 299,212 136,311
Additional paid-in-capital 132,579,890 127,740,976
Accumulated deficit (129,186,004) (128,668,176)
Total stockholders’ equity 5,365,922 911,736
Total Liabilities and Stockholders’ Equity 10,130,588 5,860,586
Series A Preferred Stock [Member]    
Stockholders’ Equity    
Preferred Stock, Value, Issued 1,310,765 1,340,566
Series B Preferred Stock [Member]    
Stockholders’ Equity    
Preferred Stock, Value, Issued $ 362,059 $ 362,059

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