Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.20.1
Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 86,919 $ 1,279,782
Accounts Receivable, net 55,540 38,800
Note Receivable, net 121,913
Inventory 598,718 240,086
Prepaid Assets 199,727 67,255
Total Current Assets 940,904 1,747,836
Other Assets:    
Property and Equipment, net 128,723 277,944
Intangible Assets, net 569,341 404,978
Investment in Joint Venture 500 500
Long-Term Prepaid Asset 52,000
Total Other Assets 750,564 683,422
TOTAL ASSETS 1,691,468 2,431,258
Current Liabilities:    
Accounts Payable 727,114 217,488
Note Payable 50,000 50,000
Deferred Revenue 139,447 51,498
Accrued Expenses 122,658 376,833
Total Current Liabilities 1,039,219 695,819
Long-Term Liabilities
TOTAL LIABILITIES 1,039,219 695,819
Commitments & Contingencies
Stockholders' Equity    
Preferred Stock, $0.001 par; 10,000,000 shares authorized; none issued and outstanding
Common Stock, $0.001 par; 2,250,000 shares authorized; 1,403,759 and 877,663 issued and outstanding, respectively 1,404 878
Additional Paid-In Capital 26,746,439 21,509,306
Accumulated Deficit (26,095,594) (19,774,745)
Total Stockholders' Equity 652,249 1,735,439
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,691,468 $ 2,431,258