Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.4.0.3
Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash $ 1,741,943 $ 2,659,734
Accounts receivable - trade 469,933 83,288
Inventory, net 146,517 118,795
Prepaid expenses and deposits 54,593 55,624
Total current assets 2,412,986 2,917,441
PROPERTY AND EQUIPMENT, at cost: 168,932 163,291
Less - accumulated depreciation (35,122) (26,995)
Net property and equipment 133,810 136,296
OTHER ASSETS:    
Goodwill 99,799 99,799
Intangible assets 1,460,000 1,460,000
Total other assets 1,559,799 1,559,799
TOTAL ASSETS 4,106,595 4,613,536
CURRENT LIABILITIES:    
Accounts payable - trade and accrued liabilities $ 272,511 242,257
Accounts payable due to related party   6,000
Deferred revenue 7,896
Note Payable - Oklahoma Technology Commercialization Center- Current $ 110,000 110,000
Total current liabilities 382,511 366,153
TOTAL LIABILITIES $ 382,511 $ 366,153
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY (DEFICIT):    
Common stock, $.0001 par value; authorized 300,000,000 shares; 5,461,553 and 5,125,585 shares issued and outstanding, at March 31, 2016 and December 31, 2015, respectively $ 546 $ 513
Additional paid-in capital 16,103,314 15,385,523
Retained Earning (Deficit) (12,379,786) (11,139,270)
Total stockholders' equity 3,724,084 4,247,383
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 4,106,595 4,613,536
Series A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value $ 10 $ 10
Series B Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value
Series B-1 Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value
Series C Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value $ 7
Series D Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value $ 200
Series E Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value
Series F Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value $ 200
Series G Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Convertible Preferred stock, value $ 200