Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 89,119 $ 376,425
Accounts receivable - net 1,022,186 722,156
Inventory 998,440 998,440
Prepaid expenses and other assets 125,012 87,630
Total current assets 2,234,757 2,184,651
Fixed assets - net 5,473 76,156
Goodwill 8,366,467 8,366,467
Total assets 10,606,697 10,627,274
Current liabilities:    
Accounts payable and accrued liabilities 1,718,668 1,570,115
Accounts payable and accrued liabilities - related party 153,838 153,838
Shareholder advance 475,000 475,000
Deferred revenue 1,963,833 2,025,333
Equity financing 125,000 375,000
Total current liabilities 4,436,339 4,599,286
Long-term liabilities:    
Loans payable 433,567 293,972
Total long-term liabilities 433,567 293,972
Total liabilities 4,869,906 4,893,258
Commitments and contingencies
Stockholders’ equity:    
Series A Convertible Preferred stock, $0.001 par value; 900,000 shares authorized; 64,872 and 84,872 shares issued and outstanding, respectively 65 85
Common stock, $0.001 par value; 45,000,000 shares authorized; 10,029,433 and 9,895,600 shares issued and outstanding, respectively 10,030 9,896
Additional paid-in capital 26,671,462 25,920,858
Accumulated deficit (20,944,766) (20,196,823)
Total stockholders’ equity 5,736,791 5,734,016
Total liabilities and stockholders’ equity $ 10,606,697 $ 10,627,274