Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 15,350,915 $ 4,204,916
Accounts receivable, net 565,467 378,658
Inventories, net 851,863 1,245,147
Prepayments and other current assets 304,813 312,593
Total current assets 17,073,058 6,141,314
Property and equipment, net 835,137 936,486
Intangible assets, net 1,959,498 1,905,556
Other assets 17,920 17,920
Total Assets 19,885,613 9,001,276
Current liabilities:    
Accounts payable 363,333 346,767
Accrued expenses 1,030,961 1,149,129
Total current liabilities 1,394,294 1,495,896
Other long-term liabilities 266,938 265,418
Total liabilities 1,661,232 1,761,314
Commitments
Stockholders’ equity:    
Preferred stock, $0.001 par value; 10,000,000 shares authorized; 1,518,430 shares issued and outstanding at March 31, 2017 1,518 0
Common stock, $0.001 par value; 50,000,000 shares authorized; 13,998,465 shares issued and 13,996,782 shares outstanding at March 31, 2017 and 9,560,896 shares issued and 9,559,213 shares outstanding at December 31, 2016, respectively 13,998 9,561
Additional paid-in capital 66,357,329 52,310,481
Treasury stock, at cost, 1,683 shares at March 31, 2017 and December 31, 2016, respectively (5,915) (5,915)
Accumulated deficit (48,142,549) (45,074,165)
Total stockholders’ equity 18,224,381 7,239,962
Total Liabilities and Stockholders’ Equity $ 19,885,613 $ 9,001,276