Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 3,367,647 $ 5,083,355
Accounts receivables, net 32,748 21,115
Inventory, net 241,482 321,509
Prepaid expenses and other current assets 192,891 211,749
Total current assets 3,834,768 5,637,728
Property and equipment, net 122,364 140,651
Total assets 3,957,132 5,778,379
Current liabilities:    
Accounts payable and accrued expenses 986,744 969,787
Short-term notes payable 78,800 63,352
Deferred revenue 17,687 14,215
Total current liabilities $ 1,083,231 $ 1,047,354
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 40,058,540 and 39,858,540 shares issued and outstanding at March 31, 2016 and December 31, 2015 $ 40,059 $ 39,859
Additional paid-in capital 92,552,695 92,347,134
Accumulated deficit (89,718,853) (87,655,968)
Total shareholders' equity 2,873,901 4,731,025
Total liabilities and shareholders' equity $ 3,957,132 $ 5,778,379