Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Mar. 31, 2014
Dec. 31, 2013
Current Assets    
Cash $ 305,809 $ 103,634
Marketable Securities 12,498,110 0
Trade Receivables (net) 138,601 118,404
Trade Receivables - Related Party 1,475,767 1,209,388
Other Receivables 34,635 748,962
Inventories (net) 665,108 1,025,104
Other Current Assets 45,192 163,890
Total Current Assets 15,163,222 3,369,382
Non-Current Assets    
Property, plant and equipment, net 245,140 267,321
Intangible assets, net 2,369,993 2,434,637
Other Assets 4,282 4,282
Total Non-Current Assets 2,619,415 2,706,240
Total Assets 17,782,637 6,075,622
Current Liabilities    
Trade and Other Payables 609,985 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 943,318 1,647,832
Non-Current Liabilities    
Deferred Revenue - Related Party 222,223 305,556
Total Non-Current Liabilities 222,223 305,556
Total Liabilities 1,165,541 1,953,388
EQUITY    
Convertible Preferred Stock, No par value, 50,000,000 shares authorized, no shares issued and outstanding as of March 31, 2014 and December 31, 2013 0 0
Common Stock, No par value, 500,000,000 shares authorized, 4,894,837 and 2,167,837 issued and outstanding as of March 31, 2014 and December 31, 2013 98,944,696 85,843,360
Accumulated Deficit (82,316,726) (81,721,126)
Accumulated Comprehensive Losses (10,874) 0
Total Equity 16,617,096 4,122,234
Total Liabilities and Equity $ 17,782,637 $ 6,075,622