v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash $ 160,674 $ 323,407
Accounts receivable, net 67,056 79,697
Inventory 77,452 77,200
Prepaid expenses and other current assets 75,644 50,723
Due from related party 12,352 5,526
Total Current Assets 393,178 536,553
OTHER ASSETS:    
Property and equipment, net 16,211 18,683
Right of use asset, net 8,841 21,772
Security deposit 7,132 7,132
Total Other Assets 32,184 47,587
TOTAL ASSETS 425,362 584,140
CURRENT LIABILITIES:    
Note payable, current portion 547,424 521,138
Accounts payable 922,348 794,905
Accrued expenses 204,134 186,765
Accrued compensation 392,172 425,797
Lease liability 9,019 22,216
Total Current Liabilities 2,075,097 1,950,821
LONG-TERM LIABILITIES:    
Note payable, net of current portion 8,776 35,062
Total Long-term Liabilities 8,776 35,062
Total Liabilities 2,083,873 1,985,883
Commitments and Contingencies (See Note 9)
Series B convertible preferred stock: $0.10 par value, 100,000 shares designated; 722 and 427 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively ($727,732 redemption and liquidation value at March 31, 2021) 727,732 429,446
Series C convertible preferred stock: $0.10 par value, 100,000 shares designated; 15,800 and 13,300 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively ($2,389,625 liquidation value at March 31, 2021) 1,593,083 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; 234,549,741 and 228,346,974 issued and outstanding at March 31, 2021 and December 31, 2020, respectively 234,550 228,347
Additional paid-in capital 49,474,512 42,573,272
Accumulated deficit (53,688,388) (45,968,839)
Total Shareholders’ Deficit (3,979,326) (3,167,220)
Total Liabilities and Shareholders’ Deficit $ 425,362 $ 584,140

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