Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets    
Cash and cash equivalents $ 8,440,837 $ 509,605
Accounts receivable 718,111 383,859
Inventory 3,575,656   
Prepaid expenses and other assets 73,837 63,132
Total current assets 12,808,441 956,596
Property and Equipment, net 175,399 173,072
License, net 66,177 70,589
Prepaid expenses and other assets 16,234 23,539
Customer acquisition costs 1,038,638   
Debt issuance costs, net 2,455,358 700,011
Total assets 16,560,247 1,923,807
Current liabilities    
Accounts payable and accrued expenses 1,115,243 275,145
Accrued legal and consulting fees 94,502 365,348
Accrued salaries and benefits 382,987 377,213
Deferred revenue 3,603,840   
Convertible promissory notes payable 1,770,955   
Customer credits 769,500   
Other Current liabilities 250,000 261,036
Accrued interest - related party 31,318 247,696
Advances payable - related party    4,167
Convertible note payable    50,000
Notes payable    300,000
Total current liabilities 8,018,345 1,880,605
Convertible promissory notes payable, net 5,154,284 4,675,673
Warrant liability 9,801,200   
Accrued interest 162,214 273,877
Total liabilities 23,136,043 6,830,155
Stockholders' deficit    
Preferred stock, $.001 par value: 2,000,000 shares authorized      
Common stock; $.001 par value; 100,000,000 shares authorized; 40,024,165 shares issued and outstanding at September 30, 2014 35,299,429 shares issued and outstanding at December 31, 2013 40,024 35,299
Additional paid-in capital 18,879,663 13,789,473
Deficit accumulated during development stage (25,495,483) (18,731,120)
Total stockholders' deficit (6,575,796) (4,906,348)
Total liabilities and stockholders' deficit $ 16,560,247 $ 1,923,807