XML 15 R2.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 27,214,991 $ 471,194
Due from merchant credit card processor, net of reserves of $2,355 and $2,500 for chargebacks, respectively 92,552 111,968
Accounts receivable, net allowance of $ 76,694 and $369,731, respectively 290,096 239,652
Inventories 1,529,806 2,048,883
Prepaid expenses and vendor deposits 438,925 664,103
Loans receivable, net   467,095
Deferred financing costs, net   122,209
TOTAL CURRENT ASSETS 29,566,370 4,125,104
Property and equipment, net of accumulated depreciation of $211,824 and $84,314 respectively 410,277 $ 712,019
Intangible assets, net of accumulated amortization and impairment 929,000  
Goodwill, net of impairment 3,177,017
Other assets 165,198 $ 91,360
TOTAL ASSETS 34,247,862 4,928,483
CURRENT LIABILITIES:    
Accounts payable 1,581,347 1,920,135
Accrued expenses 3,946,111 975,112
Senior convertible notes payable - related parties, net of debt discount of $0 and $1,093,750, respectively   156,250
Current portion of capital lease 60,871 52,015
Term loan   750,000
Customer deposits 95,588 143,718
Derivative liabilities 41,089,580  
TOTAL CURRENT LIABILITIES 46,773,497 3,997,230
Capital lease, net of current portion 58,572 119,443
TOTAL LIABILITIES $ 46,832,069 $ 4,116,673
COMMITMENTS AND CONTINGENCIES (SEE NOTE 14)
STOCKHOLDERS' (DEFICIT) EQUITY    
Series A convertible preferred stock, $.001 par value, 1,000,000 shares authorized and designated, 13,434 and 0 shares issued and outstanding, respectively, no liquidation value $ 13
Common stock, $.0001 par value, 5,000,000,000 shares authorized 147,943 and 47,891 shares issued and outstanding, respectively (See Note 9) 15 $ 5
Additional paid-in capital 846,915 16,043,708
Accumulated deficit (13,431,150) (15,231,903)
TOTAL STOCKHOLDERS' (DEFICIT) EQUITY (12,584,207) 811,810
TOTAL LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY $ 34,247,862 $ 4,928,483