Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.20.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of Inventory

The Company’s inventory at March 31, 2020 and December 31, 2019 was comprised of:


 

 

March 31,
2020

 

 

December 31, 2019

 

 

 

(Unaudited)

 

 

 

 

Finished goods               

 

$

46,892

 

 

$

47,462

 

Raw materials

 

 

111,383

 

 

 

112,010

 

Total inventory

 

$

158,275

 

 

$

159,472

Schedule of Fixed Assets

Fixed assets consist of the following:


 

 

March 31,
2020

 

 

December 31, 2019

 

 

 

(Unaudited)

 

 

 

 

Computer equipment

 

$

7,268

 

 

$

7,268

 

Machinery

 

 

639,155

 

 

 

578,347

 

Leasehold improvements

 

 

161,579

 

 

 

137,217

 

Office furniture and equipment

 

 

62,926

 

 

 

62,926

 

Land improvements

 

 

7,270

 

 

 

7,270

 

Website development                  

 

 

27,275

 

 

 

27,275

 

 

 

 

905,473

 

 

 

820,303

 

Accumulated depreciation

 

 

(74,135

)

 

 

(48,307

)

 

 

$

831,338

 

 

$

771,996

Schedule of Dilutive Shares Not Included in Loss Per Share Computation

The following are dilutive shares not included in the loss per share computation:


 

 

March 31,
2020

 

 

December 31, 2019

 

 

 

(Unaudited)

 

 

 

 

Options

 

 

5,042,500

 

 

 

5,042,500

 

Warrants

 

 

29,849,761

 

 

 

29,849,761

 

Convertible shares

 

 

998,666

 

 

 

984,014

 

     

 

 

35,890,927

 

 

 

35,876,275