Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.21.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 376,425 $ 487,953
Accounts receivable - net 722,159 799,246
Inventory 998,440
Prepaid expenses and other assets 87,630 11,160
Total current assets 2,184,651 1,298,359
Fixed assets - net 76,156 105,199
Goodwill 8,366,467 8,366,467
Intangible assets - net   205,219
Other assets 17,561
Total assets 10,627,274 9,992,805
Current liabilities:    
Accounts payable and accrued liabilities 1,570,115 2,010,556
Accounts payable and accrued liabilities – related party 153,838  
Shareholder advance 475,000  
Deferred revenue 2,025,333 1,056,637
Equity financing 375,000
Total current liabilities 4,599,286 3,067,193
Long-term liabilities:    
Loan payable 293,972
Total long-term liabilities 293,972  
Total liabilities 4,893,258 3,067,193
Commitments and contingencies
Stockholders’ equity:    
Series A Convertible Preferred stock, $0.001 par value; 900,000 shares authorized; 84,872 and 578,567 shares issued and outstanding, respectively 85 579
Common stock, $0.001 par value; 45,000,000 shares authorized; 9,895,600 and 7,390,261 shares issued and outstanding, respectively 9,896 7,391
Additional paid-in capital 25,920,858 19,712,115
Accumulated deficit (20,196,823) (12,794,473)
Total stockholders’ equity 5,734,016 6,925,612
Total liabilities and stockholders’ equity $ 10,627,274 $ 9,992,805