Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Mar. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash $ 2,760,447 $ 2,282,365
Accounts receivable - trade 6,929 18,000
Subscription note receivable – related party 17,858
Inventory, net 604,570 307,925
Prepaid expenses and deposits 259,466 89,613
Total current assets 3,649,270 2,697,903
PROPERTY AND EQUIPMENT, at cost: 207,716 176,955
Less - accumulated depreciation (132,528) (123,725)
Net property and equipment 75,188 53,230
OTHER ASSETS:    
Right of use leased assets 170,162
Goodwill 99,799 99,799
Intangible assets, net 632,667 705,667
Total other assets 902,628 805,466
TOTAL ASSETS 4,627,086 3,556,599
CURRENT LIABILITIES:    
Accounts payable - trade and accrued liabilities 442,241 485,024
Bank line of credit 2,000,000 2,000,000
Operating lease liability 95,533
Total current liabilities 2,537,774 2,485,024
LONG TERM LIABILITIES:    
Operating lease liability 74,956
TOTAL LIABILITIES 2,612,730 2,485,024
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Common stock, $.0001 par value; authorized 300,000,000 shares; 27,656,121 and 23,640,621 shares issued and outstanding, at March 31, 2019 and December 31, 2018, respectively 2,766 2,364
Additional paid-in capital 41,586,854 39,541,301
Retained deficit (39,575,264) (38,472,090)
Total stockholders' equity 2,014,356 1,071,575
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,627,086 $ 3,556,599