Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 5,083,355 $ 10,448,921
Accounts receivables, net 21,115 15,608
Inventory, net 321,509 439,189
Prepaid expenses and other current assets 211,749 119,410
Total current assets 5,637,728 11,023,128
Property and equipment, net 140,651 109,292
Total assets 5,778,379 11,132,420
Current liabilities:    
Accounts payable and accrued expenses 969,787 710,210
Short-term notes payable 63,352 64,840
Deferred revenue 14,215 21,222
Total current liabilities $ 1,047,354 $ 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 as of December 31, 2015 and 2014 respectively; 39,858,540 and 36,178,944 shares issued and outstanding at December 31, 2015 and 2014, respectively $ 39,859 $ 36,179
Additional paid-in capital 92,347,134 86,244,604
Accumulated deficit (87,655,968) (75,944,635)
Total shareholders' equity 4,731,025 10,336,148
Total liabilities and shareholders' equity $ 5,778,379 $ 11,132,420