Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets    
Cash and cash equivalents $ 912,762 $ 7,212,114
Accounts receivable 1,112,942 410,950
Inventory 5,593,806 5,784,905
Prepaid expenses and other assets 117,955 140,559
Total current assets 7,737,465 13,548,528
Property and Equipment, net 942,168 255,330
License, net 60,295 64,707
Prepaid expenses and other assets 6,494 13,799
Debt issuance costs, net 1,781,606 2,285,696
Customer acquisition costs 967,420 1,156,521
Total assets 11,495,448 17,324,581
Current liabilities    
Accounts payable and accrued expenses 648,453 775,034
Accrued salaries and benefits 455,651 399,487
Deferred revenue 5,342,400 5,808,301
Convertible notes payable 1,682,860 3,080,376
Customer credits $ 936,500 936,500
Other Current liabilities 250,000
Total current liabilities $ 9,065,864 11,249,698
Convertible notes payable, net of discount 4,629,145 4,724,598
Warrant liability 4,135,687 5,597,011
Accrued interest 87,532 $ 337,999
Equipment note payable 57,007
Total liabilities $ 17,975,235 $ 21,909,306
Stockholders' deficit    
Preferred stock, $.001 par value: 2,000,000 shares authorized
Common stock; $.001 par value; 150,000,000 shares authorized; 47,194,118 shares issued and outstanding as of September 30, 2015 40,228,123 shares issued and outstanding as of December 31, 2014 $ 47,194 $ 40,228
Additional paid-in capital 24,334,708 19,113,724
Accumulated deficit (30,861,689) (23,738,677)
Total stockholders' deficit (6,479,787) (4,584,725)
Total liabilities and stockholders' deficit $ 11,495,448 $ 17,324,581