Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash $ 32,939,026 $ 9,118,564
Accounts receivable 1,150,626 17,605
Inventory 2,232,436 297,500
Prepaid expenses and other 1,009,094 1,183,714
Total current assets 37,331,182 10,617,383
Property and equipment 3,609,059 2,026,895
Less accumulated depreciation and amortization 1,483,676 1,092,317
Property and equipment, net 2,125,383 934,578
Patents and trademarks 163,302 115,053
Patents and trademarks, net 136,854 92,482
Less accumulated amortization 26,448 22,571
Deferred debt issuance costs and other 723,098 327,954
Total assets 40,316,517 11,972,397
Current liabilities:    
Accounts payable 2,422,349 1,417,463
Accrued liabilities and other 4,772,963 2,016,358
Notes payable, current, net of discounts of $743,062 and $202,287, respectively 4,095,650 2,756,718
Total current liabilities 11,290,962 6,190,539
Notes payable, net of discounts of $856,746 and $93,038, respectively 23,572,603 6,930,112
Derivative liabilities 7,692,087  
Other liabilities 1,770,452 257,122
Total liabilities 44,326,104 13,377,773
Stockholders' deficit:    
Preferred stock; $.001 par value; 5,000,000 shares authorized; 7,565 and 6,938 Series B shares issued and outstanding at December 31, 2013 and 2012, respectively 8 7
Common stock; $.001 par value; 200,000,000 shares authorized; 135,919,423 and 113,018,772 shares issued and outstanding at December 31, 2013 and 2012, respectively 135,919 113,019
Additional paid-in capital 313,111,788 273,039,442
Accumulated deficit (317,257,302) (274,557,844)
Total stockholders’ deficit (4,009,587) (1,405,376)
Total liabilities and stockholders’ deficit $ 40,316,517 $ 11,972,397