Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current Assets    
Cash $ 642,515 $ 103,634
Marketable Securities 10,206,992 0
Trade Receivables (net) 1,076,530 118,404
Trade Receivables - Related Party 1,475,767 1,209,388
Other Receivables 60,117 748,962
Inventories (net) 784,900 1,025,104
Other Current Assets 66,128 163,890
Total Current Assets 14,312,949 3,369,382
Non-Current Assets    
Property, plant and equipment, net 224,715 267,321
Intangible assets, net 2,240,707 2,434,637
Other Assets 4,282 4,282
Total Non-Current Assets 2,469,704 2,706,240
Total Assets 16,782,653 6,075,622
Current Liabilities    
Trade and Other Payables 666,055 1,000,413
Trade and Other Payables - Related Party 0 6,586
Short-Term Notes Payable - Related Party 0 307,500
Deferred Revenue - Related Party 333,333 333,333
Total Current Liabilities 999,388 1,647,832
Non-Current Liabilities    
Deferred Revenue - Related Party 55,556 305,556
Total Non-Current Liabilities 55,556 305,556
Total Liabilities 1,054,944 1,953,388
EQUITY    
Convertible Preferred Stock, No par value, 50,000,000 shares authorized, no shares issued and outstanding as of September 30, 2014 and December 31, 2013 0 0
Common Stock, No par value, 500,000,000 shares authorized, 4,954,837 and 2,167,837 issued and outstanding as of September 30, 2014 and December 31, 2013 99,691,096 85,843,360
Accumulated Deficit (83,951,834) (81,721,126)
Accumulated Comprehensive Gains/(Losses) (11,553) 0
Total Equity 15,727,709 4,122,234
Total Liabilities and Equity $ 16,782,653 $ 6,075,622