v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 281,444 $ 323,407
Accounts receivable, net 68,426 79,697
Inventory 74,072 77,200
Prepaid expenses and other current assets 41,632 50,723
Due from related party 12,567 5,526
Total Current Assets 478,141 536,553
OTHER ASSETS:    
Property and equipment, net 13,739 18,683
Right of use asset, net 21,772
Security deposit 7,132 7,132
Total Other Assets 20,871 47,587
TOTAL ASSETS 499,012 584,140
CURRENT LIABILITIES:    
Note payable, current portion 556,200 521,138
Accounts payable 747,503 794,905
Accrued expenses 223,143 186,765
Accrued compensation (See Note 8) 399,671 425,797
Lease liability 22,216
Total Current Liabilities 1,926,517 1,950,821
LONG-TERM LIABILITIES:    
Note payable, net of current portion 500,000 35,062
Total Long-term Liabilities 500,000 35,062
Total Liabilities 2,426,517 1,985,883
Commitments and Contingencies (See Note 8)
Series B convertible preferred stock: $0.10 par value, 100,000 shares designated; 722 and 427 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively ($731,332 redemption and liquidation value at June 30, 2021) 731,332 429,446
Series C convertible preferred stock: $0.10 par value, 100,000 shares designated; 15,800 and 13,300 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively ($2,401,443 liquidation value at June 30, 2021) 1,600,962 1,336,031
SHAREHOLDERS’ DEFICIT:    
Preferred stock: $0.10 par value, 2,000,000 shares authorized; 100,000 Series B and 100,000 Series C designated
Common stock: $0.001 par value, 4,998,000,000 shares authorized; 241,050,965 and 228,346,974 issued and outstanding at June 30, 2021 and December 31, 2020, respectively 241,051 228,347
Additional paid-in capital 49,778,041 42,573,272
Accumulated deficit (54,278,891) (45,968,839)
Total Shareholders’ Deficit (4,259,799) (3,167,220)
Total Liabilities and Shareholders’ Deficit $ 499,012 $ 584,140

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