Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets    
Cash and cash equivalents $ 9,126,847 $ 185,717
Accounts receivable, net 5,213,551 5,192,730
Inventories, net 3,339,761 3,696,330
Prepaid expenses and other current assets 418,969 978,428
Total current assets 18,099,128 10,053,205
Property and equipment, net 1,824,422 1,581,814
Deposits and other 31,215 31,215
Deferred tax assets, net 1,102,465 1,318,447
Goodwill 3,324,128 3,324,128
Intangible assets, net 509,745 608,405
Total Assets 24,891,103 16,917,214
Current liabilities    
Accounts payable 1,101,298 3,904,613
Accrued expenses and other liabilities 1,460,160 1,933,977
Borrowings on bank line of credit   3,334,508
Current portion of related-party notes payable, net of debt discount of $0 and $13,905, respectively   136,303
Current portion of note payable, net of debt discount of $0 and $9,932, respectively   640,079
Total current liabilities 2,561,458 9,949,480
Related-party notes payable, net of current portion and debt discount of $0 and $579, respectively   12,696
Note payable, net of current portion and debt discount of $0 and $414, respectively   335,267
Total liabilities 2,561,458 10,297,443
Commitments and contingencies (Note 9)
Stockholders’ equity    
Common stock, $0.0001 par value; 50,000,000 shares authorized;12,773,289 and 5,514,917 shares, respectively issued and outstanding, respectively 1,277 551
Additional paid-in capital 22,517,107 3,484,428
Noncontrolling interest 324,257 436,842
Retained (deficit) earnings (512,996) 281,423
Total stockholders’ equity 22,329,645 6,619,771
Total liabilities and stockholders' equity $ 24,891,103 16,917,214
Series C Convertible Preferred Stock    
Stockholders’ equity    
Preferred stock   1,604,101
Series B Convertible Preferred Stock    
Stockholders’ equity    
Preferred stock   697,996
Series A Convertible Preferred Stock    
Stockholders’ equity    
Preferred stock   $ 114,430