v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 2,307,497 $ 3,602,229
Accounts receivable, net of allowance for doubtful accounts of $10,000 as of September 30, 2017 and $5,000 as of December 31, 2016 1,999,636 802,384
Accounts receivable from related party 712,800 2,714,600
Other receivable 10,000
Notes receivable from financing transaction, short term 500,000
Inventories 4,165,721 4,602,719
Advances on contracts 992,242 700,900
Deferred Cost 362,718 620,041
Prepaid expenses and other current assets 552,010 291,929
Total current assets 11,592,624 13,344,802
Furniture, fixtures & equipment net of accumulated depreciation of $703,191 as of September 30, 2017 and $659,144 as of December 31, 2016 119,729 159,026
Patents, net of accumulated amortization of $904,295 as of September 30, 2017 and $717,086 as of December 31, 2016 3,152,415 660,457
Notes receivable from financing transaction long term 650,000
Other assets 26,878 17,355
Total assets 15,541,646 14,181,640
Current Liabilities:    
Accounts payable 616,036 1,341,207
Accounts payable related party 902,341 1,235,052
Accrued expenses and other payables 2,162,786 1,436,262
Deferred profit, related party 659,931 630,990
Deferred from financing transaction 712,800 1,001,800
Total current liabilities 5,053,894 5,645,311
Deferral from financing transaction 1,400,000
Total liabilities 6,453,894 5,645,311
Commitments and Contingencies
Stockholders’ Equity    
Series A convertible preferred stock, par value $.001, authorized 5,000,000 shares, 33,333 shares held in the treasury, and 7,000 shares issued and outstanding as September 30, 2017 and December 31, 2016 7 7
Common stock, par value $.001; authorized 50,000,000 shares;33,023,057 shares issued, 1,404,405 shares to be issued and 32,989,724 shares outstanding as of September 30, 2017; 30,457,224 shares issued, 1,270,481 shares to be issued and 30,423,891 shares outstanding as of December 31, 2016 34,426 31,720
Additional paid-in capital 86,442,802 82,761,503
Accumulated deficit (76,778,556) (73,381,491)
Treasury stock, at cost, 33,333 shares (911,516) (911,516)
Total stockholders' equity 8,787,163 8,500,223
Noncontrolling interest 300,589 36,106
Total Equity 9,087,752 8,536,329
Total liabilities and stockholders’ equity $ 15,541,646 $ 14,181,640

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