Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheet

v3.7.0.1
Consolidated Balance Sheet - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash $ 1,324,221 $ 606,644
Accounts receivable, net of allowance for doubtful accounts of $47,829 at March 31, 2017 and December 31, 2016 507,582 391,235
Inventory 3,517,440 2,574,438
Prepaid expenses and other current assets 31,765 35,256
Total current assets 5,381,008 3,607,573
Property and equipment, net 653,260 549,854
Intangible assets, net 5,833
Goodwill 493,000 243,000
Other assets 65,704 42,526
TOTAL ASSETS 6,598,805 4,442,953
Current liabilities:    
Accounts payable 813,957 535,913
Payroll and payroll tax liabilities 97,333 77,068
Customer deposits 19,340 51,672
Sales tax payable 65,884 46,942
Short term borrowings 130,797 107,880
Current portion of long term debt 23,443 23,443
Total current liabilities 1,150,754 842,918
Long term debt, net of current portion 35,931 41,726
Total liabilities 1,186,685 884,644
Commitments and contingencies
Stockholders' Equity:    
Common stock; $.001 par value; 100,000,000 shares authorized; 13,386,406 and 11,742,834 shares issued and outstanding 2017 and 2016 13,386 11,743
Additional paid-in capital 6,831,698 4,696,221
Accumulated deficit (1,432,964) (1,149,655)
Total stockholders' equity 5,412,120 3,558,309
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,598,805 $ 4,442,953