Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.20.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of Inventory

The Company’s inventory at September 30, 2020 and December 31, 2019 was comprised of:


 

 

September 30,
2020

 

 

December 31, 2019

 

 

 

(Unaudited)

 

 

 

 

Finished goods               

 

$

116,134

 

 

$

47,462

 

Work in process

 

 

11,793

 

 

 

—

 

Raw materials

 

 

77,718

 

 

 

112,010

 

Total inventory

 

$

205,645

 

 

$

159,472

Schedule of Fixed Assets

Fixed assets consist of the following:


 

 

September 30,
2020

 

 

December 31, 2019

 

 

 

(Unaudited)

 

 

 

 

Computer equipment

 

$

7,268

 

 

$

7,268

 

Machinery

 

 

657,368

 

 

 

578,347

 

Leasehold improvements

 

 

161,579

 

 

 

137,217

 

Office furniture and equipment

 

 

71,292

 

 

 

62,926

 

Land improvements

 

 

7,270

 

 

 

7,270

 

Website development

 

 

27,275

 

 

 

27,275

 

Construction in process                  

 

 

30,000

 

 

 

—

 

 

 

 

962,052

 

 

 

820,303

 

Accumulated depreciation

 

 

(134,182

)

 

 

(48,307

)

 

 

$

827,870

 

 

$

771,996

Schedule of Dilutive Shares Not Included in Loss Per Share Computation

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


 

 

September 30,
2020

 

 

December 31, 2019

 

 

 

(Unaudited)

 

 

 

 

Options

 

 

4,542,500

 

 

 

5,042,500

 

Warrants

 

 

40,489,050

 

 

 

29,849,761

 

Convertible shares

 

 

108,853,912

 

 

 

984,014

 

     

 

 

153,885,462

 

 

 

35,876,275