XML 20 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Condensed Balance Sheets - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Dec. 31, 2016
[1]
Current asset:      
Cash and cash equivalents $ 1,799,024 $ 2,010,325 $ 456,502
Accounts receivable - trade, net of allowances 5,019,988 3,089,932 2,943,954
Inventories, net of reserve 3,487,210 4,626,569 4,164,116
Prepaid expenses and other current assets 1,978,291 388,006 447,036
Total current assets 12,284,513 10,114,832 8,011,608
Property and equipment, net of accumulated depreciation 323,777 29,752 60,040
Intangible assets, net of accumulated amortization 6,850,135 6,126,558 6,833,477
Goodwill 4,404,658 4,181,991 4,181,991
Other assets 295 292 33,262
Total assets 23,863,378 20,453,425 19,120,378
Current liabilities:      
Accounts payable and accrued expenses 3,057,354 2,502,962 4,453,893
Accounts payable and accrued expenses - related parties 5,110,792 4,391,713 3,754,050
Warranty reserve 627,177 491,956  
Short-term debt 1,581,754 752,449 2,791,582
Short-term debt - related party 163,333 54,000 876,550
Current portion of earn-out payable - related party 136,667  
Convertible notes payable - related party 50,000 50,000 50,000
Deferred revenues - short-term 1,726,717 1,127,423 495,603
Derivative liabilities 1,891,704 1,857,252
Other short-term liabilities   251,537
Total current liabilities 14,345,498 11,227,755 12,673,215
Long-term debt - related party 546,667 4,060,785
Earn-out payable - related party 273,333  
Deferred revenues - long-term 167,573 175,294 272,123
Total liabilities 15,333,071 11,403,049 17,006,123
Commitments and contingencies  
Stockholders' equity:      
Preferred stock, $0.0001 par value, 50,000,000 shares authorized; 250,000 shares issued and outstanding for December 2016 1,270,000 25 25 127
Common stock, $0.0001 par value, 200,000,000 shares authorized; 10,056,094 and 9,558,997 Class A shares issued and outstanding and December 2016 4,621,687, respectively 1,006 956 461
Additional paid-in capital 25,993,583 21,125,956 7,615,732
Subscriptions receivable (325) (325) (325)
Accumulated deficit (17,390,448) (12,028,388) (5,488,822)
Other comprehensive loss (73,534) (47,848) (12,918)
Total stockholders' equity 8,530,307 9,050,376 2,114,255
Total liabilities and stockholders' equity $ 23,863,378 $ 20,453,425 $ 19,120,378
[1] Financial information has been retrospectively adjusted for the acquisitions of Mimio and Genesis