v3.20.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 243,265 $ 77,211
Accounts receivable, net 29,023 151,989
Inventory 174,928 14,820
Prepaid expenses and other current assets 21,605 18,577
Total Current Assets 468,821 262,597
OTHER ASSETS:    
Property, plant and equipment, net 24,289 32,776
Right of use asset, net 46,498 69,808
Security deposit 7,132 7,132
Total Other Assets 77,919 109,716
TOTAL ASSETS 546,740 372,313
CURRENT LIABILITIES:    
Notes payable - related party 400,000 400,000
Convertible notes payable, net 356,938 135,833
Note payable, current portion 71,200
Accounts payable 867,346 746,663
Accrued expenses 160,696 126,986
Accrued compensation 785,968 351,708
Deferred revenue 2,275
Lease liability 46,809 47,636
Derivative liability 1,571,077 890,410
Total Current Liabilities 4,262,309 2,699,236
LONG-TERM LIABILITIES:    
Note payable 85,000
Lease liability, net of current portion 22,216
Mandatorily redeemable convertible Series A preferred stock; $0.10 par value, 800,000 shares designated; 154,800 and 159,600 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively ($1.00 per share redemption and liquidation value) 176,543 159,798
Total Long-term Liabilities 261,543 182,014
Total Liabilities 4,523,852 2,881,250
Commitments and Contingencies (See Note 10)
Series B convertible preferred stock: $0.10 par value, 100,000 shares designated; 108 and 108 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively ($1,000 per share redemption and liquidation value) 109,195 108,000
SHAREHOLDERS' DEFICIT:    
Preferred stock: $0.10 par value, 2,000,000 shares authorized; 800,000 Series A and 100,000 Series B designated
Common stock: $0.001 par value, 4,998,000,000 shares authorized; 163,061,830 and 116,749,633 issued and outstanding at June 30, 2020 and December 31, 2019, respectively 163,062 116,750
Additional paid-in capital 38,850,794 37,266,328
Accumulated deficit (43,100,163) (40,000,015)
Total Shareholders' Deficit (4,086,307) (2,616,937)
Total Liabilities and Shareholders' Deficit $ 546,740 $ 372,313

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