Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES:    
Net loss $ (1,240,516) $ (934,151)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation $ 8,127 1,966
Amortization 11,978
Stock based compensation $ 717,217 308,500
Changes in current assets and liabilities:    
Accounts receivable (386,645) 28,714
Inventory (27,722) (13,670)
Prepaid expenses and deposits 1,031 (18,609)
Accounts payable and accrued expense 30,254 54,150
Accounts payable due to related party (6,000) $ (2,181)
Deferred revenue (7,896)
Net cash used in operating activities (912,150) $ (563,303)
INVESTING ACTIVITIES:    
Cash paid on furniture and equipment (5,641) (12,966)
Net cash used in investing activities (5,641) (12,966)
NET DECREASE IN CASH (917,791) (576,269)
CASH, beginning of period 2,659,734 1,369,896
CASH, end of period 1,741,943 793,627
Cash paid during the quarters ended March 31:    
Interest $ 140 133
Noncash investing and financing activities for the quarters ended March 31:    
Leasehold improvements addtion in accounts payable 10,348
Conversion of Series A preferred stock to common stock $ 22
Conversion of Series C preferred stock to common stock $ 18
Conversion of Series D preferred stock to common stock 5
Conversion of Series F preferred stock to common stock 5
Conversion of Series G preferred stock to common stock $ 5