Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.2.0.727
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 15,193 $ 21,234
Accounts receivable 15,060 4,095
Prepaid expenses and other current assets 32,501 131,862
Inventory 203,230 222,018
Consigned inventory 124,448  
Note receivable 88,763  
Total current assets 479,195 379,209
Other assets:    
Equipment, net of depreciation 398,519 466,413
Intangible assets, net of amortization   1,696,430
Total other assets 398,519 2,162,843
Total assets 877,714 2,542,052
Current liabilities:    
Accounts payable 218,791 190,168
Accrued liabilities 72,462 105,613
Deferred revenue 165,629 58,165
Interest payable 51,161 19,541
Income taxes payable 150 100
Loan payable, current 57,340 56,486
Senior secured notes payable 908,361 160,000
Revolving line of credit 229,980 229,980
Current portion of unsecured notes payable 389,391 20,000
Total current liabilities 2,093,265 840,053
Long-term liabilities:    
Loan payable 104,948 133,834
Unsecured notes payable   360,232
Total long-term liabilities 104,948 494,066
Total liabilities $ 2,198,213 $ 1,334,119
Commitments and contingencies    
Stockholders' equity:    
Preferred stock value $ 18 $ 18
Common stock value 1,102 1,095
Additional paid-in capital 14,300,514 14,111,944
Accumulated deficit (15,622,133) (12,905,124)
Total stockholders' equity (1,320,499) 1,207,933
Total liabilities and stockholders' equity $ 877,714 $ 2,542,052