Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.8.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current Assets:    
Cash and cash equivalents $ 7,513,634 $ 9,289,831
Accounts receivable, net 910,109 949,415
Inventory, net 2,532,763 2,314,184
Prepaid expenses and other current assets 153,171 192,727
Total current assets 11,109,677 12,746,157
Property and equipment, net 387,892 267,667
Software license inventory 819,400 871,900
Other assets 31,116 11,641
Total assets 12,348,085 13,897,365
Current liabilities:    
Accounts payable 654,820 759,445
Accrued compensation 496,436 806,445
Other accrued liabilities 359,270 480,159
Derivative liabilities 29,875 95,786
Deferred service revenue 216,632 256,178
Senior secured note payable 2,000,000 2,000,000
2014 junior secured notes payable, net of unamortized discount and deferred issuance costs of $80,344 at March 31, 2018 1,894,656
Total current liabilities 5,651,689 4,398,013
Accrued interest 787,125 752,500
Total liabilities 7,598,699 8,068,625
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized at March 31, 2018 and December 31, 2017; none issued and outstanding at March 31, 2018 and December 31, 2017
Common stock, $0.01 par value; 200,000,000 shares authorized; 10,825,896 shares issued and outstanding at March 31, 2018; and 10,693,851 issued and outstanding at December 31, 2017 108,258 106,937
Additional paid-in capital 107,318,162 106,757,920
Accumulated deficit (102,677,034) (101,036,117)
Total stockholders' equity 4,749,386 5,828,740
Total liabilities and stockholders' equity 12,348,085 13,897,365
12% Junior Secured Notes Payable 2014 [Member]    
Current liabilities:    
Junior secured notes payable 1,874,570
Junior Secured Notes Payable 2010 [Member]    
Current liabilities:    
Junior secured notes payable $ 1,159,885 $ 1,043,542