XML 12 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
ASSETS    
Cash $ 1,500,325 $ 1,598,749
Accounts receivable, net 592,686 747,704
Inventory 1,566,464 1,468,210
Prepaid expenses 260,002 234,994
Total Current Assets 3,965,900 4,255,446
Property, Plant and Equipment, net 4,008,179 4,277,223
Other Assets 8,193 8,193
License Fees, net of accumulated amortization 24,589 36,005
Total Assets 8,065,391 8,676,937
Liabilities and Stockholders' Deficit    
Accounts payable 172,304 557,199
Accrued expenses 77,526 382,806
Current portion of long term notes payable 602,240 439,594
Interest payable 69,931 101,083
Total Current Liabilities 931,825 1,480,682
Long Term Debt and Other Liabilities    
Long term notes payable 4,890,814 4,397,410
Interest payable and other liabilities
Other long term liabilities 17,944
Fair value of warrants and convertibility feature of long term debt 294,667 779,901
Total Long Term Debt and Other Liabilities 5,185,481 5,195,255
Commitments
Stockholders' Deficit    
Preferred stock: $0.001 par value; authorized 10,000,000 shares, Series A Nonvoting capital stock 6,000,000 shares authorized, -0- shares issued and outstanding
Common stock: $0.001 par value; authorized 90,000,000 shares; 4,916,285 shares issued; 4,649,383 outstanding 4,917 4,917
Nonvoting common stock: $0.001 par value; authorized 50,000,000 shares; 33,300,000 issued and outstanding 33,300 33,300
Additional paid in capital 30,564,008 30,532,427
Accumulated deficit (28,688,329) (28,548,833)
Treasury stock, 266,902 shares at cost (20,811) (20,811)
Total Stockholders' Equity 1,948,085 2,001,000
Total Liabilities and Stockholders' Equity $ 8,065,391 $ 8,676,937