Consolidated Statements of Cash Flows - USD ($)
|
12 Months Ended |
Dec. 31, 2017 |
Dec. 31, 2016 |
| Cash Flows From Operating Activities |
|
|
| Net loss |
$ (15,215,659)
|
$ (10,447,589)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
| Bad debt expense |
923,609
|
192,634
|
| Depreciation and amortization expense |
142,884
|
162,500
|
| Deferred rent |
8,154
|
(2,841)
|
| Loss on sale of securities |
37,882
|
|
| Severance expense charged against accounts receivable |
50,000
|
|
| Warrants issued to distributor |
271,713
|
|
| Stock-based compensation |
1,474,399
|
1,175,672
|
| Stock issued to directors |
70,150
|
|
| Impairment of intangible asset |
150,000
|
|
| Loss on disposal of property and equipment |
|
233
|
| Amortization of debt discount |
236,709
|
|
| Amortization of deferred financing costs |
842,533
|
995,549
|
| Paid-in-kind interest |
|
77,805
|
| Inducement expense |
|
1,587,954
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(122,397)
|
(1,456,596)
|
| Inventory |
(460,261)
|
(475,383)
|
| Prepaid expenses and other current assets |
101,145
|
(42,835)
|
| Other assets |
(100,871)
|
14,968
|
| Accounts payable |
1,888,402
|
1,194,997
|
| Accrued expenses |
361,647
|
550,728
|
| Other current liabilities |
(52,343)
|
|
| Total adjustments |
5,823,355
|
3,975,385
|
| Net cash used in operating activities |
(9,392,304)
|
(6,472,204)
|
| Cash Flows From Investing Activities |
|
|
| Proceeds from sale of short term investments |
2,408,632
|
|
| Purchases of property and equipment |
(59,419)
|
(14,622)
|
| Investment in restricted cash |
|
(103,603)
|
| Release of restricted cash |
103,603
|
127,580
|
| Purchase of short term investments |
(26,747)
|
(2,419,767)
|
| Net cash provided by (used in) investing activities |
2,426,069
|
(2,410,412)
|
| Cash Flows From Financing Activities |
|
|
| Repayment of automobile loans |
(11,446)
|
(27,069)
|
| Repayment of equipment loans |
(39,979)
|
(36,630)
|
| Proceeds from Loan Agreement |
650,000
|
|
| Proceeds from line of credit |
|
1,280,275
|
| Repayment of line of credit |
(1,280,275)
|
|
| Proceeds from line of credit, related party |
|
500,000
|
| Proceeds from Radium |
697,500
|
|
| Repayments to Radium |
(56,898)
|
|
| Proceeds from the Public Offering, net of costs |
|
5,867,217
|
| Advances from a related party |
230,000
|
|
| Repayments to a related party |
(160,000)
|
|
| Advances from a stockholder |
|
199,900
|
| Repayments to a stockholder |
|
(199,900)
|
| Proceeds from disgorgement of short swing profit |
|
56,250
|
| Proceeds from the sale of common stock, net of costs |
|
1,423,141
|
| Proceeds from the sale of common stock and warrants, net of costs |
|
861,790
|
| Proceeds from Bass Properties LLC loan |
|
96,123
|
| Repayments to Bass Properties LLC |
|
(96,123)
|
| Net cash provided by financing activities |
6,087,632
|
9,924,974
|
| Net (decrease) increase in cash |
(878,603)
|
1,042,358
|
| Cash, beginning of period |
1,249,550
|
207,192
|
| Cash, end of period |
370,947
|
1,249,550
|
| Cash paid for interest |
8,089
|
22,247
|
| Non-cash investing and financing activities: |
|
|
| Conversion of loans payable and accrued interest to stockholders' equity |
|
3,257,330
|
| Issuance of common stock to consultants, vendors and customers |
1,276,197
|
970,362
|
| Issuance of insurance obligation in other current liabilities |
75,150
|
|
| Issuance of common stock to directors to satisfy accrued compensation |
175,000
|
|
| Purchase of IP applied against outstanding accounts receivable |
150,000
|
|
| Finished goods inventory received and applied against outstanding accounts receivable |
49,587
|
|
| Conversion of Loan Agreement and accrued interest to stockholders' equity |
750,700
|
|
| Beneficial conversion feature under the Loan Agreement |
94,636
|
|
| Issuance of warrant under the Loan Agreement |
152,363
|
|
| Cashless option exercise |
1
|
|
| January Public Offering [Member] |
|
|
| Cash Flows From Financing Activities |
|
|
| Proceeds from the Public Offering, net of costs |
1,429,740
|
|
| June Public Offering [Member] |
|
|
| Cash Flows From Financing Activities |
|
|
| Proceeds from the Public Offering, net of costs |
1,259,415
|
|
| July Public Offering [Member] |
|
|
| Cash Flows From Financing Activities |
|
|
| Proceeds from the Public Offering, net of costs |
2,134,487
|
|
| October Public Offering [Member] |
|
|
| Cash Flows From Financing Activities |
|
|
| Proceeds from the Public Offering, net of costs |
$ 1,235,088
|
|