Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash $ 1,320,874 $ 584,877
Accounts receivable 1,240,154 1,642,126
Inventory 571,552 509,416
Prepaid expenses and other assets 143,957 136,628
Customer acquisition costs, net 0 34,467
Total current assets 3,276,537 2,907,514
Property and equipment, net 2,234,656 2,397,691
Right of use asset 1,295,995
Intellectual property, net 2,633,062 2,733,662
Total assets 9,440,250 8,038,867
Current liabilities    
Accounts payable and accrued expenses 1,890,080 1,858,326
Current portion of equipment notes payable 64,924 63,424
Current portion of operating lease liability 381,245
Accrued interest 105,383 96,902
Customer credits 167,000 167,000
Deferred compensation 739,614 555,877
Total current liabilities 3,348,246 2,741,529
Equipment notes payable, less current portion 72,080 104,226
Operating lease liability 992,651
Convertible notes payable, net of discount and issuance costs 2,874,354 1,760,570
Secured note payable 271,686 271,686
Unsecured note payable, net of discount and issuance costs 9,095,119 11,781,952
Total liabilities 16,654,136 16,659,963
COMMITMENTS AND CONTINGENCIES (Note 11)  
Stockholders' deficit    
Preferred stock, $.001 par value: 2,000,000 shares authorized
Common stock; $.001 par value; 150,000,000 shares authorized; 76,710,630 shares issued and outstanding as of June 30, 2019 76,246,113 shares issued and outstanding as of December 31, 2018 76,710 76,246
Additional paid-in capital 44,745,926 42,785,990
Accumulated deficit (52,036,522) (51,483,332)
Total stockholders' deficit (7,213,886) (8,621,096)
Total liabilities and stockholders' deficit $ 9,440,250 $ 8,038,867