Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.21.1
Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets:    
Cash $ 3,700,814 $ 86,919
Accounts Receivable, net 331,562 55,540
Inventory 659,651 598,718
Prepaid Assets 90,735 199,727
Total Current Assets 4,782,762 940,904
Other Assets:    
Property and Equipment, net 138,626 128,723
Intangible Assets, net 753,122 569,341
Investment in Joint Venture 500
Long-Term Prepaid Asset 26,000 52,000
Total Other Assets 917,748 750,564
TOTAL ASSETS 5,700,510 1,691,468
Current Liabilities:    
Accounts Payable 128,937 727,114
Note Payable 50,000
Deferred Revenue 77,957 139,447
Accrued Expenses 243,815 122,658
Total Current Liabilities 450,709 1,039,219
Long-Term Liabilities    
Stock Appreciation Rights 48,341
CARES Act Deferred Payroll Taxes 37,728
Total Long-Term Liabilities 86,069
TOTAL LIABILITIES 536,778 1,039,219
Stockholders' Equity    
Preferred Stock, $0.001 par;10,000,000 shares authorized; 715 and 0 issued and outstanding, respectively 1
Common Stock, $0.001 par; 12,000,000 shares authorized; 5,995,320 and 1,403,759 issued and outstanding, respectively 5,995 1,404
Additional Paid-In Capital 38,262,744 26,746,439
Accumulated Deficit (33,105,008) (26,095,594)
Total Stockholders' Equity 5,163,732 652,249
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 5,700,510 $ 1,691,468