Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 121,000 $ 1,310,000
Restricted cash 50,000
Accounts receivable 216,000 87,000
Inventory 3,065,000 2,764,000
Prepaid expenses and other current assets 189,000 302,000
Total current assets 3,591,000 4,513,000
Property and equipment, net 2,830,000 3,247,000
Intangibles, net 17,000 20,000
Deposits and other long-term assets 44,000 28,000
Total assets 6,482,000 7,808,000
Current liabilities:    
Accounts payable 1,783,000 1,665,000
Accrued expenses 766,000 573,000
Deferred revenues and customer advances 5,177,000 3,876,000
Accrued contract loss 760,000 724,000
Convertible unsecured notes payable, net of discounts 1,055,000 554,000
Capital leases payable-short term 15,000 10,000
Total current liabilities 9,556,000 7,402,000
Long term liabilities:    
Convertible secured notes payable, net of discounts 2,754,000 630,000
Capital lease payable 18,000 4,000
Total liabilities 12,328,000 8,036,000
Stockholders' deficit:    
Preferred stock, $0.0001 par value. Authorized 50,000,000 shares; no shares issued and outstanding at June 30, 2017 and December 31, 2016
Common stock, $0.0001 par value. Authorized 200,000,000 shares; 4,063,660 and 3,829,660 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively
Additional paid-in capital 41,786,000 40,944,000
Accumulated deficit (47,632,000) (41,172,000)
Total stockholders' (deficit) (5,846,000) (228,000)
Total liabilities and stockholders' deficit $ 6,482,000 $ 7,808,000