XML 16 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets:    
Cash $ 49,801 $ 5,745
Receivables, net of allowance of $317,659at December 31, 2015 and 2014 33,081 2,319
Inventory 4,028,220 4,118,220
Prepaid expenses and other current assets 58,034 253,102
Total current assets 4,169,136 4,379,386
Security Deposits 15,000 15,000
Property and equipment, net 23,726 35,640
TOTAL ASSETS 4,207,862 4,430,026
Current Liabilities:    
Accounts payable 1,895,382 1,346,138
Liabilities under claims purchase agreement 1,995,320 1,995,320
Accounts payable, GEOMC 4,182,380 4,182,380
Accrued expenses and other liabilities 2,248,024 1,590,182
Deferred revenue 6,400 19,686
Notes payable 3,785,063 2,536,830
Series C convertible preferred stock liability 375,000 375,000
Series C convertible preferred stock derivative liability 66,177 66,177
Total current liabilities 14,553,746 12,111,713
Long term notes payable $ 67,919 $ 56,659
Commitments and Contingencies
Shareholders' deficit:    
Common stock, $.01 par value, 100,000,000 shares authorized at December 31, 2015, 40,000,000 shares authorized at December 31, 2014, 28,515,888 shares issued and outstanding at December 31, 2015 and 25,908,978 shares issued and outstanding at December 31, 2014 $ 285,158 $ 259,089
Capital in excess of par value 48,611,413 47,634,857
Accumulated deficit (59,371,049) (55,692,967)
Total shareholders' deficit (10,413,803) (7,738,346)
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT 4,207,862 4,430,026
5% preferred stock [Member]    
Shareholders' deficit:    
Preferred stock $ 60,675 $ 60,675
Series B Preferred Stock [Member]    
Shareholders' deficit:    
Preferred stock
Series C Preferred Stock [Member]    
Shareholders' deficit:    
Preferred stock