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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net loss $ (270,274) $ (1,179,148)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 1,333 657
Amortization 30,000 35,294
Provision for bad debt expense 8,030 140,152
Provision for inventory losses 0 110,000
Change in estimated fair value of derivative (2,243,518) (1,139,365)
Fair value of common stock issued for services 360,500 18,000
Stock based compensation 83,227 61,555
Change in operating assets and liabilities:    
Accounts receivable (460,491) 1,470,994
Inventory (474,019) (51,614)
Prepaid expenses and other current assets (261,817) (201,063)
Accounts payable and accrued expenses 1,143,852 (141,493)
Net cash used in operating activities (2,083,177) (876,031)
Cash flows from investing activities:    
Restricted cash (52) (53)
Net cash used in investing activities (52) (53)
Cash flow from financing activities:    
Proceeds from warrants exercised for cash 0 30,000
Proceeds from issuance of Series C Preferred Stock 0 1,000,000
Proceeds from issuance of Series D Preferred Stock 3,675,000 0
Net borrowings on line-of-credit facility 68,120 0
Repayments on debt 0 (403,778)
Net cash provided by financing activities 3,743,120 626,222
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,659,891 (249,862)
CASH AND CASH EQUIVALENTS - beginning of period 15,306 376,840
CASH AND CASH EQUIVALENTS - end of period 1,675,197 126,978
SUPPLEMENTAL DISCLOSURES    
Interest paid in cash 20,538 13,119
Non-cash transactions:    
Conversion of preferred stock to common stock 2,766 698
Dividend paid in common stock 66,080 68,441
Dividends declared 64,644 66,626
Conversion of notes payable and accrued interest to Series C preferred stock 0 500,000
Warrants issued in connection with Series C Preferred Offering $ 0 $ 303,043
Warrants issued in connection with Series D Preferred Offering 2,262,334 0
Warrants issued for services $ 29,000 $ 0
Warrants exchanged for common stock $ 5,743,681 $ 0