Balance Sheet

v3.21.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 3,011,811 $ 3,300,600
Accounts receivable, net 865,174 2,283,587
Inventories, net 1,388,262 1,373,074
Contract assets 104,989 188,120
Prepaid expenses 142,733 251,619
Income taxes receivable 105,745 85,070
Total current assets 5,618,714 7,482,070
Property and equipment, net 127,672 186,525
Other assets:    
Deposits 7,000 17,130
Operating lease right of use assets 737,551 892,170
Deferred tax asset 0 28,021
Total other assets 744,551 937,321
Total Assets 6,490,937 8,605,916
Current liabilities:    
Accounts payable 1,043,007 1,265,560
Accrued liabilities 563,312 527,826
Line of credit 267,289 624,347
Contract liabilities - current 888,060 653,053
Operating lease liabilities - current 242,299 223,835
Note payable - current 913,063 0
Total current liabilities 3,917,030 3,294,621
Long-term liabilities:    
Contract liabilities - long-term 164,307 111,131
Operating lease liabilities - long-term 592,341 758,315
Accrued royalties - long-term 500,000 0
Total long-term liabilities 1,256,648 869,446
Total Liabilities 5,173,678 4,164,067
Commitments and contingencies
Stockholders' Equity    
Common Stock, par value $.001 per share; 190,000,000 shares authorized; 136,311,335 and 135,990,491 shares issued and outstanding at December 31, 2020 and 2019, respectively. 136,311 135,990
Additional paid-in-capital 127,733,714 127,708,773
Accumulated deficit (128,255,391) (125,105,539)
Total stockholders' equity 1,317,259 4,441,849
Total Liabilities and Stockholders' Equity 6,490,937 8,605,916
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

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