XML 11 R2.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 886,667 $ 864,343
Accounts receivable, net 5,507,836 4,753,291
Accounts receivable - related party 247,815 189,760
Other investments 212,829 217,361
Inventory 3,623,796 3,202,767
Equity investment 960,000 2,500,000
Prepaid expenses and other current assets 1,206,899 1,662,579
Prepaid expenses and other current assets - related party 5,740,957 4,957,061
Operating lease right-of-use asset 540,843
Financing lease right-of-use asset 108,603
TOTAL CURRENT ASSETS 19,036,245 18,347,162
Property and equipment, net 1,710,178 1,425,632
Goodwill and intangible assets, net 282,944 296,767
Deferred tax assets 2,812 913
Other assets 798,249 624,479
TOTAL ASSETS 21,830,428 20,694,953
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 6,605,112 5,933,464
Accounts payable and accrued expenses - related party 280,696 139,556
Customer advances 96,686 1,067,200
Convertible notes payable, net of unamortized discount of $0 and $276,841, respectively 1,414,796 135,800
Notes payable 10,537,227 9,803,733
Notes payable - related party 1,751,596 1,793,437
Lines of credit 2,599,229 1,514,583
Loans payable - related party 980,691 1,775,251
Operating lease liability, current portion 165,033
Financing lease liability, current portion 31,707
Other current liabilities 79,680 111,212
TOTAL CURRENT LIABILITIES 24,542,453 22,274,236
Share settled debt obligation 1,554,590 1,554,590
Operating lease liability, net of current portion 349,471
Other liabilities 167,635 183,577
TOTAL LIABILITIES 26,614,149 24,012,403
Commitments and Contingencies (see Note 14)
STOCKHOLDERS' DEFICIT:    
Preferred stock, $0.001 par value; 100,000,000 shares authorized; 0 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively
Common stock, $0.001 par value; 300,000,000 shares authorized; 13,225,387 and 13,878,757 shares issued and 12,879,099 and 13,685,067 outstanding as of June 30, 2019 and December 31, 2018, respectively 13,225 13,879
Additional paid-in capital 13,525,749 13,133,982
Treasury Stock, 346,288 and 193,690 shares as of June 30, 2019 and December 31, 2018, respectively (354,734) (225,494)
Accumulated deficit (18,029,851) (16,272,645)
Accumulated other comprehensive income 61,890 32,828
TOTAL STOCKHOLDERS’ DEFICIT (4,783,721) (3,317,450)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 21,830,428 $ 20,694,953