Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 8,043,503 $ 10,448,921
Accounts receivables, net 26,798 15,608
Inventory, net 364,074 439,189
Prepaid expenses and other current assets 90,389 119,410
Total current assets 8,524,764 11,023,128
Property and equipment, net 170,724 109,292
Total assets 8,695,488 11,132,420
Current liabilities:    
Accounts payable and accrued expenses 548,686 710,210
Short-term notes payable 34,767 64,840
Convertible note payable to shareholder 5,000,000  
Deferred revenue 17,855 21,222
Total current liabilities $ 5,601,308 $ 796,272
Shareholders' equity:    
Preferred stock, no par value; 20,000,000 shares authorized; none issued and outstanding    
Common stock, $0.001 par value; 100,000,000 shares authorized 36,378,944 and 36,178,944 shares issued and outstanding at June 30, 2015 and December 31, 2014 $ 36,379 $ 36,179
Additional paid-in capital 86,630,684 86,244,604
Accumulated deficit (83,572,883) (75,944,635)
Total shareholders' equity 3,094,180 10,336,148
Total liabilities and shareholders' equity $ 8,695,488 $ 11,132,420