2015 WSTI Annual Financials filed today
December 31, 2014 December 31, 2013
ASSETS
CURRENT ASSETS
Cash $ 594,508 $ 203,534
Accounts receivable, net 1,017,522 401,549
Inventories 1,184,957 946,805
Prepaid expenses 77,349 187,341
Investor notes receivable 2,175,260 —
Deferred financing costs — 37,529
TOTAL CURRENT ASSETS 5,049,596 1,776,758
Property and equipment, net 253,640 352,430
OTHER ASSETS
Deposits 62,059 7,500
TOTAL ASSETS $ 5,365,295 $ 2,136,688
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
CURRENT LIABILITIES
Accounts payable $ 1,154,283 $ 742,482
Accrued liabilities 1,052,891 789,338
Short term debt - third parties 2,476,605 900,000
Current maturities of note payable 107,838 224,087
Convertible notes payable, net of unamortized debt discount of $166,668 and $219,979, respectively
3,041,332
330,021
Derivative liabilities 1,939,292 -
Short term debt - related parties 221,000 187,500
TOTAL CURRENT LIABILITIES 9,993,241 3,173,428
LONG TERM LIABILITY
Note payable, non-current 1,217,162 1,175,913
TOTAL LIABILITIES 11,210,403 4,349,341
STOCKHOLDERS’ EQUITY (DEFICIT)
Common stock; $0.001 par value; unlimited shares authorized; 88,617,154 and 83,461,899 shares issued and outstanding, respectively 87,283 83,462
Additional paid in capital 15,881,419 8,184,557
Accumulated deficit (21,750,309 ) (10,480,672 )
Deficit attributable to Windstream Technologies, Inc. (5,781,606 ) (2,212,653 )
Noncontrolling interest (63,501 ) —
TOTAL STOCKHOLDERS’ DEFICIT (5,845,108 ) (2,212,653 )
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 5,365,295 $ 2,136,688
