Balance Sheet

v3.20.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 3,300,600 $ 4,678,891
Accounts receivable, net 2,283,587 1,081,291
Inventories 1,373,074 1,790,919
Contract assets 188,120 314,749
Prepaid expenses 251,619 577,386
Income taxes receivable 85,070 19,695
Total current assets 7,482,070 8,462,931
Property and equipment, net 186,525 247,289
Other assets:    
Deposits 17,130 17,130
Operating lease right of use assets 892,170 0
Deferred tax asset 28,021 0
Total other assets 937,321 17,130
Total Assets 8,605,916 8,727,350
Current liabilities:    
Accounts payable 1,265,560 408,045
Accrued liabilities 527,826 656,611
Line of credit 624,347 121,474
Contract liabilities - current 653,053 1,070,502
Operating lease liabilities - current 223,835 0
Total current liabilities 3,294,621 2,256,632
Long-term liabilities:    
Contract liabilties - long-term 111,131 162,121
Operating lease liabilities - long-term 758,315 0
Deferred lease liability - long-term 0 71,877
Total long-term liabilities 869,446 233,998
Total Liabilities 4,164,067 2,490,630
Commitments and contingencies 0 0
Stockholders' Equity    
Common stock, par value $.001 per share; 190,000,000 shares authorized; 135,990,491 and 134,793,211 shares issued and outstanding at December 31, 2019 and 2018, respectively 135,990 134,792
Additional paid-in-capital 127,708,773 127,570,709
Accumulated deficit (125,105,539) (123,171,406)
Total stockholders' equity 4,441,849 6,236,720
Total Liabilities and Stockholders' Equity 8,605,916 8,727,350
Series A Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock value 1,340,566 1,340,566
Series B Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock value $ 362,059 $ 362,059

Source