Annual report pursuant to section 13 and 15(d)

Balance Sheets

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Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 14,137,097 $ 1,972,301
Accounts receivable, net 252,406 485,674
Inventories, net 519,657 217,867
Prepayments and other current assets 231,495 28,468
Total current assets 15,140,655 2,704,310
Property and equipment, net 85,718 27,903
Patents, net 608,913 474,790
Total Assets 15,835,286 3,207,003
Current liabilities:    
Current portion of long-term debt, net of debt discount of $0 and $3,828,711 at December 31, 2013 and 2012, respectively 0 1,313,146
Accounts payable 539,145 684,558
Accrued expenses 461,193 178,003
Total current liabilities 1,000,338 2,175,707
Long-term debt 0 1,132,690
Commitments      
Stockholders’ equity (deficit):    
Common stock, $0.001 par value; 50,000,000 shares authorized; 6,931,968 and 1,480,262 shares issued and outstanding at December 31, 2013 and 2012, respectively 6,932 1,480
Common stock to be issued 151,665 0
Additional paid-in capital 31,431,220 7,100,297
Treasury stock (2,657) (2,657)
Accumulated deficit (16,752,212) (7,200,514)
Total stockholders’ equity (deficit) 14,834,948 (101,394)
Total Liabilities and Stockholders’ Equity (Deficit) $ 15,835,286 $ 3,207,003