Quarterly report pursuant to Section 13 or 15(d)

Management???s Liquidity Plans (Details)

v3.19.1
Management’s Liquidity Plans (Details) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Management's Plan (Textual)      
Net loss $ (1,103,174) $ (1,678,290)  
Accumulated deficit $ (39,575,264)   $ (38,472,090)
Working capital   $ 1,111,496  
Going concern, description The Company made a strategic decision to focus on its aerostats, WASP and WASP Lite, and opportunities for those products with military and government customers, resulting in an order valued in excess of $3.7 million which was announced in December 2018 and expected to be delivered by the end of 2019. In December 2018 and January 2019, the Company raised over $4,000,000 through stock sales which will provide ample working capital to produce WASP systems. In December 2018, the holders of $5,000,000 in convertible notes exercised their rights to convert to equity, leaving only $2,000,000 in bank debt on the books. As of March 31, 2019, the Company has $1,111,496 in positive working capital, an improvement of more than $800,000 over the working capital balance at the end of 2018.