Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.19.1
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Sales    
Product revenue $ 238,090 $ 398,401
Product service revenue 22,168 13,384
Licensing revenue 8,654 8,829
Total sales 268,912 420,614
Cost of goods sold    
Product costs 131,653 114,616
Total cost of sales 131,653 114,616
Gross profit 137,259 305,998
Operating Expenses    
Research and development 285,395 170,385
Sales and marketing 153,626 968,687
General and administrative 1,375,480 1,589,485
Total operating expenses 1,814,501 2,728,557
Loss from operations (1,677,242) (2,422,559)
Other income (expense)    
Interest expense, net (164,485) (341,068)
Change in fair value of derivative liability 1,504,006 (196,545)
Change in fair value of warrant liability (344,898)
Derivative expense (284,343) (1,987,888)
Gain (loss) on settlement of debt 179,276
Gain on forfeiture of technology transfer deposit 135,000
Gain on extinguishment of debt 4,581  
Loss on settlement of vendor liability (7,369,504) (599,735)
Total Other income (expense) (6,654,643) (2,810,960)
Loss before provision for income taxes (8,331,885) (5,233,519)
Provision for income taxes 374
Net loss (8,332,259) (5,233,519)
Dividends (61,770) (119,670)
Net loss attributable to common shareholders $ (8,394,029) $ (5,353,189)
Loss per share    
Basic and diluted $ 0.00 $ 0.00
Weighted average common shares outstanding - basic and diluted 3,170,425,601 1,539,192,898