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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash and cash equivalents $ 13,726,482 $ 4,465,455
Accounts receivable, net 299,287 424,287
Inventories, net 602,881 439,533
Prepaid expenses and other current assets 937,218 820,206
Total Current Assets 15,565,868 6,149,481
Restricted cash 75,000 75,000
Deferred offering costs 131,976 219,240
Equipment, net 139,205 154,972
Total Assets 15,912,049 6,598,693
Current Liabilities:    
Current portion of long-term debt, net of discount of $298,542 and $676,703 at March 31 2020 and December 31, 2019, respectively 1,427,393 1,763,887
Accounts payable and accrued expenses 2,628,328 1,738,450
Derivative liabilities 40,605 378,239
Deferred revenue 4,131 2,913
Customer advance payments 27,340 40
Total Current Liabilities 4,127,797 3,883,529
Long-term debt, net of discount of $36,169 at December 31, 2019   888,961
Total Liabilities 4,129,292 4,773,985
Deferred revenue 1,495 1,495
Commitments and Contingencies
Stockholders’ Equity:    
Common stock, par value $0.0001 per share, 100,000,000 authorized; 2,814,734 and 574,524 shares issued at March 31, 2020 and December 31, 2019, respectively and 2,814,707 and 574,497 shares outstanding as of March 31, 2020 and December 31, 2019, respectively 281 57
Additional paid-in capital 71,716,915 57,957,097
Accumulated deficit (59,927,975) (56,125,982)
Treasury stock, 27 shares at cost (6,464) (6,464)
Total Stockholders’ Equity 11,782,757 1,824,708
Total Liabilities and Stockholders’ Equity $ 15,912,049 $ 6,598,693