Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash $ 128,567 $ 46,448
Accounts receivable, net 91,319 35,225
Inventory 8,977 10,493
Prepaid expenses and other current assets 31,199 771
Total Current Assets 260,062 92,937
OTHER ASSETS:    
Property, plant and equipment, net 57,405 91,123
Security deposit 8,977 8,977
Total Other Assets 66,382 100,100
TOTAL ASSETS 326,444 193,037
CURRENT LIABILITIES:    
Notes payable - related party 400,000
Accounts payable 507,058 164,906
Accrued expenses 46,278 104,402
Accrued compensation 188,231 511,855
Total Current Liabilities 1,141,567 781,163
LONG-TERM LIABILITIES:    
Convertible note payable, net of discount 92,917
Total Long-term Liabilities 92,917
Total Liabilities 1,141,567 874,080
Commitments and Contingencies (See Note 9)
SHAREHOLDERS' DEFICIT:    
Preferred stock: $0.10 par value, 1,000,000 shares authorized; none issued and outstanding at December 31, 2018 and 2017, respectively
Common stock: $0.001 par value, 500,000,000 shares authorized; 80,459,006 and 45,717,635 issued and outstanding at December 31, 2018 and 2017, respectively 80,459 45,717
Additional paid-in capital 31,863,693 22,127,796
Accumulated deficit (32,759,275) (22,854,556)
Total Shareholders’ Deficit (815,123) (681,043)
Total Liabilities and Shareholders’ Deficit $ 326,444 $ 193,037