v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash $ 77,211 $ 128,567
Accounts receivable, net 151,989 91,319
Inventory 14,820 8,977
Prepaid expenses and other current assets 18,577 31,199
Total Current Assets 262,597 260,062
OTHER ASSETS:    
Property, plant and equipment, net 32,776 57,405
Right of use asset, net 69,808  
Security deposit 7,132 8,977
Total Other Assets 109,716 66,382
TOTAL ASSETS 372,313 326,444
CURRENT LIABILITIES:    
Notes payable - related party 400,000 400,000
Convertible notes payable, net 135,833
Accounts payable 746,663 507,058
Accrued expenses 126,986 46,278
Accrued compensation 351,708 188,231
Lease liability 47,636
Derivative liability 890,410
Total Current Liabilities 2,699,236 1,141,567
LONG-TERM LIABILITIES:    
Lease liability, net of current portion 22,216  
Mandatorily redeemable convertible Series A preferred stock; $0.10 par value, 800,000 shares designated; 159,600 and no shares issued and outstanding at December 31, 2019 and 2018, respectively ($1.00 per share redemption and liquidation value) 159,798
Total Long-term Liabilities 182,014
Total Liabilities 2,881,250 1,141,567
Commitments and Contingencies (See Note 10)
Series B convertible preferred stock: $0.10 par value, 100,000 shares designated; 108 and no shares issued and outstanding at December 31, 2019 and 2018, respectively ($1,000 per share redemption and liquidation value) 108,000
SHAREHOLDERS' DEFICIT:    
Preferred stock: $0.10 par value, 1,000,000 shares authorized; 800,000 Series A and 100,000 Series B designated
Common stock: $0.001 par value, 500,000,000 shares authorized; 116,749,633 and 80,459,006 issued and outstanding at December 31, 2019 and 2018, respectively 116,750 80,459
Additional paid-in capital 37,266,328 31,863,693
Accumulated deficit (40,000,015) (32,759,275)
Total Shareholders' Deficit (2,616,937) (815,123)
Total Liabilities and Shareholders' Deficit $ 372,313 $ 326,444

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