Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets    
Cash $ 508,614 $ 1,388,307
Accounts receivable 2,963,012 1,015,053
Inventory 847,675 1,075,401
Prepaid expenses and other current assets (related party of $0 and $70,000) 611,105 312,008
Total current assets 4,930,406 3,790,769
Security deposits 10,175 10,175
Property and equipment, net 1,818,682 1,829,544
Right of use asset - operating lease 188,464 390,098
Intellectual property, net 2,011,897 2,114,197
Total assets 8,959,624 8,134,783
Current liabilities    
Accounts payable and accrued expenses (related party of $231,250 and $206,554) 2,859,133 2,267,711
Current portion of equipment notes payable 0 2,677
Current portion of operating lease liability 158,899 340,207
Customer credits 167,000 167,000
Accrued salaries 470,899 562,430
Short term debt - related party 250,000 0
Secured note payable - related party 271,686 271,686
Unsecured note payable, net of discount and issuance costs - related party 12,851,615 11,871,254
Total current liabilities 17,029,232 15,482,965
Operating lease liability 33,189 54,551
Profit share liability - related party 3,144,160 2,836,743
Total liabilities 20,206,581 18,374,259
COMMITMENTS AND CONTINGENCIES 0 0
Stockholders' deficit    
Preferred stock, $0.001 par value: 2,000,000 shares authorized, no shares issued 0 0
Common stock; $0.001 par value; 150,000,000 shares authorized; 89,871,132 and 89,115,951 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively 89,871 89,116
Additional paid-in capital 57,284,933 56,788,321
Accumulated deficit (68,621,761) (67,116,913)
Total stockholders' deficit (11,246,957) (10,239,476)
Total liabilities and stockholders' deficit $ 8,959,624 $ 8,134,783