Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 208,000 $ 1,310,000
Restricted cash 50,000
Accounts receivable, net 14,000 87,000
Inventory 3,028,000 2,764,000
Prepaid expenses and other current assets 333,000 302,000
Total current assets 3,583,000 4,513,000
Property and equipment, net 2,660,000 3,247,000
Intangibles, net 13,000 20,000
Deposits and other long term assets 32,000 28,000
Total assets 6,288,000 7,808,000
Current liabilities:    
Accounts payable 1,749,000 1,545,000
Accrued expenses 1,380,000 693,000
Deferred revenues and customer advances 5,270,000 3,876,000
Accrued contract loss 617,000 724,000
Convertible unsecured notes payable, net of discounts 1,250,000 554,000
Convertible secured notes payable, short term, net of discounts 5,994,000
Capital leases payable - short term 13,000 10,000
Total current liabilities 16,273,000 7,402,000
Long term liabilities:    
Convertible secured notes payable, long term, net of discounts 630,000
Capital lease payable - long term 12,000 4,000
Total liabilities 16,285,000 8,036,000
Stockholders' deficit:    
Preferred stock, $0.0001 par value; authorized 50,000,000 shares; no shares outstanding at December 31, 2017 and December 31, 2016
Common stock, $0.0001 par value; authorized 200,000,000 shares; 4,081,393 and 3,829,660 shares outstanding at December 31, 2017 and December 31, 2016 respectively
Additional paid-in capital 42,342,000 40,944,000
Accumulated deficit (52,339,000) (41,172,000)
Total stockholders' deficit (9,997,000) (228,000)
Total liabilities and stockholders' deficit $ 6,288,000 $ 7,808,000