Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash $ 178,781 $ 615,375
Accounts receivable - trade 65,760 110,065
Inventory, net 1,761,663 991,697
Prepaid expenses and deposits 99,770 103,008
Total current assets 2,105,974 1,820,145
PROPERTY AND EQUIPMENT, at cost: 176,955 253,444
Less - accumulated depreciation (114,979) (97,507)
Net property and equipment 61,976 155,937
OTHER ASSETS:    
Goodwill 99,799 99,799
Intangible assets, net 778,667 997,667
Total other assets 878,466 1,097,466
TOTAL ASSETS 3,046,416 3,073,548
CURRENT LIABILITIES:    
Accounts payable - trade and accrued liabilities 653,302 205,359
Accounts payable due to related party 183,918 171,981
Unearned revenue 9,800
Bank Line of Credit 1,900,000 1,000,000
Related party convertible note payable 1,900,000 1,000,000
Total current liabilities 4,647,020 2,377,340
LONG TERM LIABILITIES:    
Related party convertible note payable 3,000,000 3,000,000
TOTAL LIABILITIES 7,647,020 5,377,340
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' DEFICIT:    
Common stock, $.0001 par value; authorized 300,000,000 shares; 9,182,470 and 9,182,470 shares issued and outstanding, at September 30, 2018 and December 31, 2017, respectively 918 918
Additional paid-in capital 29,339,511 27,692,067
Retained Deficit (33,941,033) (29,996,777)
Total stockholders' deficit (4,600,604) (2,303,792)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 3,046,416 $ 3,073,548