v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets    
Cash and Cash Equivalents $ 8,542,928 $ 9,914,867
Short-Term Investments 245,000 5,390,184
Accounts Receivable 839,938 1,018,027
Inventories 5,308,492 5,020,146
Prepaid Expenses 746,846 313,914
Total Current Assets 15,683,204 21,657,138
Property and Equipment at cost, Net 1,882,151 2,000,784
Other Assets    
Deposits 29,563 27,163
Total Other Assets 29,563 27,163
TOTAL ASSETS 17,594,918 23,685,085
Current Liabilities    
Accounts Payable 3,904,445 2,564,681
Accrued Expenses 2,224,719 2,385,356
Current Portion of Note Payable 6,666,667 6,111,111
Current Portion of Deferred Revenue 145,154 145,154
Current Portion of Leasehold Improvement Loan 16,935 16,559
Total Current Liabilities 12,957,920 11,222,861
Notes Payable, Net of Debt Discount 10,845,226 12,321,640
End of Term Liability, Note Payable 1,790,000 1,790,000
Deferred Revenue, Net of Current Portion 2,654,325 2,690,033
Deferred Rent Liability 90,476 98,116
Leasehold Improvement Loan, Net of Current Portion 15,319 19,697
TOTAL LIABILITIES 28,353,266 28,142,347
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIENCY    
Preferred Stock $0.0001 par value 10,000,000 shares authorized, and 0 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 0 0
Common Stock $0.0001 par value 75,000,000 shares authorized, and 12,886,741 shares issued and outstanding as of March 31, 2017 and December 31, 2016, respectively 1,289 1,289
Additional Paid-In Capital 102,712,144 102,476,267
Accumulated Deficit (113,471,781) (106,934,818)
TOTAL STOCKHOLDERS' DEFICIENCY (10,758,348) (4,457,262)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 17,594,918 $ 23,685,085

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