Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash $ 41,301 $ 9,592
Accounts receivable 23,128 9,730
Inventory 721,396 726,140
Prepaid expenses 10,334 15,086
Total current assets 796,159 760,548
Equipment, net 22,122 25,278
Intangible assets, net 744,863 803,306
Goodwill 481,947 481,947
Total assets 2,045,091 2,071,079
Current liabilities:    
Accounts payable 201,904 194,023
Due to related party 762,756 721,434
Accrued compensation - related party 1,056,000 1,036,000
Deferred revenue 35,300 81,455
Common stock payable 156,656 79,625
Short term notes payable, less unamortized debt issuance costs of $108,000 and $70,000 at March 31, 2018 and December 31, 2017, respectively 84,601 19,051
Convertible notes payable, less unamortized debt discount of $181,370 and $224,904 at March 31, 2018 and December 31, 2016, respectively 1,550,134 1,212,600
Derivative liabilities 224,820 470,839
Estimated fair value of contingent payments, net 287,039 287,957
Other current liabilities 86,559 61,969
Total current liabilities 4,445,769 4,164,953
Total liabilities 4,445,769 4,164,953
Shareholders' deficit    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 1 and 1 share issued and outstanding at March 31, 2018 and December 31, 2017, respectively
Common stock, $0.0001 par value, 150,000,000 shares authorized; 59,505,658 and 53,276,676 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively 5,951 5,328
Additional paid-in-capital 8,713,758 8,281,793
Accumulated deficit (11,120,387) (10,380,995)
Total shareholders' deficit (2,400,678) (2,093,874)
Total liabilities and shareholders' deficit $ 2,045,091 $ 2,071,079