Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.19.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 2,491,670 $ 3,101,133
Accounts receivable, net 1,266,797 1,233,896
Inventory, net 2,024,935 2,105,976
Operating lease rights of use, current portion 98,668
Prepaid expenses and other current assets 199,576 213,684
Total current assets 6,081,646 6,654,689
Property and equipment, net 498,783 377,706
Software license inventory 679,400 801,900
Operating lease rights of use 355,176
Other assets 10,639 22,538
Total assets 7,625,644 7,856,833
Current liabilities:    
Accounts payable 502,986 500,929
Accrued compensation 667,768 764,960
Operating lease liabilities, current portion 104,127
Other accrued liabilities 319,654 390,838
Deferred revenue 679,485 350,963
Total current liabilities 2,274,020 2,007,690
Accrued interest 892,125 857,500
Junior secured notes payable, net
Operating lease liabilities 367,061
Total liabilities 7,183,025 6,345,831
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued and outstanding at March 31, 2019 and December 31, 2018
Common stock, $0.01 par value; 200,000,000 shares authorized; 11,067,207 shares issued and outstanding at March 31, 2019; and 11,018,364 issued and outstanding at December 31, 2018 110,672 110,183
Additional paid-in capital 108,752,502 108,600,405
Accumulated deficit (108,420,555) (107,199,586)
Total stockholders' equity 442,619 1,511,002
Total liabilities and stockholders' equity 7,625,644 7,856,833
Junior Secured Notes Payable 2014 [Member]    
Current liabilities:    
Junior secured notes payable, net 1,944,871 1,939,850
Junior Secured Notes Payable 2010 [Member]    
Current liabilities:    
Junior secured notes payable, net $ 1,704,948 $ 1,540,791