XML 13 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 22,592,099 $ 27,214,991
Due from merchant credit card processor, net of reserves of $2,355 and $2,355 for chargebacks, respectively 102,053 92,552
Accounts receivable, net allowance of $ 85,643 and $76,694, respectively 300,345 290,096
Inventories 1,473,975 1,529,806
Prepaid expenses and vendor deposits 295,167 438,925
TOTAL CURRENT ASSETS 24,763,639 29,566,370
Property and equipment, net of accumulated depreciation of $257,243 and $211,824 respectively 371,350 410,277
Intangible assets, net of accumulated amortization of $151,328 and $12,500, respectively 903,672 929,000
Goodwill 3,177,017 3,177,017
Other assets 151,417 165,198
TOTAL ASSETS 29,367,095 34,247,862
CURRENT LIABILITIES:    
Accounts payable 487,672 1,581,347
Accrued expenses 1,585,989 3,946,111
Current portion of capital lease 63,312 60,871
Customer deposits 29,025 95,588
Derivative liabilities 53,616,983 41,089,580
TOTAL CURRENT LIABILITIES 55,782,981 46,773,497
Capital lease, net of current portion 41,799 58,572
TOTAL LIABILITIES $ 55,824,780 $ 46,832,069
COMMITMENTS AND CONTINGENCIES (SEE NOTE 8)
STOCKHOLDERS' DEFICIT    
Series A convertible preferred stock, $.001 par value, 1,000,000 shares authorized and designated, 838 and 13,434 shares issued and outstanding, respectively, no liquidation value $ 1 $ 13
Common stock, $.0001 par value, 5,000,000,000 shares authorized, 45,146,438 and 147,943 shares issued and outstanding, respectively (See Note 6) 4,515 15
Additional paid-in capital 3,155,849 846,915
Accumulated deficit (29,618,050) (13,431,150)
TOTAL STOCKHOLDERS' DEFICIT (26,457,685) (12,584,207)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 29,367,095 $ 34,247,862