Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current Assets    
Cash $ 402,059 $ 455,841
Marketable Securities 4,025,104 9,264,961
Trade Receivables (net) 609,195 1,154,290
Trade Receivables - Related Party, net $ 31,512 864,000
Notes Receivable - Related Party, net 266,457
Other Receivables $ 95,577 41,435
Inventories (net) 1,131,654 905,116
Other Current Assets 185,967 107,633
Total Current Assets $ 6,481,068 13,059,733
Non-Current Assets    
Notes Receivable - Related Party, net 1,209,309
Property, plant and equipment, net $ 251,145 201,483
Intangible assets, net 1,472,883 2,176,065
Other Assets 66,813 4,282
Total Non-Current Assets 1,790,841 3,591,139
Total Assets 8,271,909 16,650,872
Current Liabilities    
Trade and Other Payables $ 1,668,731 1,538,430
Deferred Revenue - Related Party 305,556
Total Current Liabilities $ 1,668,731 1,843,986
Total Liabilities $ 1,668,731 $ 1,843,986
STOCKHOLDERS' EQUITY    
Convertible Preferred Stock, No par value, 50,000,000 shares authorized, no shares issued and outstanding as of December 31, 2015 and 2014
Common Stock, No par value, 500,000,000 shares authorized, 5,425,045 and 4,954,837 issued and outstanding as of December 31, 2015 and 2014 $ 100,785,408 $ 99,691,096
Accumulated Deficit (94,175,999) (84,864,086)
Accumulated Other Comprehensive Loss (6,231) (20,124)
Total Stockholders' Equity 6,603,178 14,806,886
Total Liabilities and Stockholders' Equity $ 8,271,909 $ 16,650,872