Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 5,695,722 $ 3,101,133
Accounts receivable, net 1,089,917 1,233,896
Inventory, net 3,240,218 2,105,976
Prepaid expenses and other current assets 357,227 213,684
Total current assets 10,383,084 6,654,689
Property and equipment, net 447,162 377,706
Operating lease rights of use 374,218
Software license inventory 504,400 801,900
Other assets 217,573 22,538
Total assets 11,926,437 7,856,833
Current liabilities:    
Accounts payable 965,783 500,929
Accrued compensation 1,408,292 764,960
Other accrued liabilities 328,460 390,838
Operating lease liabilities, current portion 113,520
Deferred product and service revenues 1,016,892 210,768
Total current liabilities 3,832,947 1,867,495
Accrued interest 959,659 857,500
Operating lease liabilities, net of current portion 276,669
Deferred product and service revenues, net of current portion 197,862 140,195
Total liabilities 7,339,720 6,345,831
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized at December 31, 2019 and 2018; none issued and outstanding at December 31, 2019 and 2018
Common stock, $0.01 par value; 200,000,000 shares authorized at December 31, 2019 and 2018; 15,235,308 and 11,018,364 shares issued and outstanding at December 31, 2019 and 2018, respectively 152,353 110,183
Additional paid-in capital 117,173,984 108,600,405
Accumulated deficit (112,739,620) (107,199,586)
Total stockholders' equity 4,586,717 1,511,002
Total liabilities and stockholders' equity 11,926,437 7,856,833
Secured Notes Payable 2010 Net of Unamortized Discount [Member]    
Current liabilities:    
Secured notes payable, net of amortized discount 2,072,583 1,540,791
Junior Secured Notes Payable 2014 Net of Aggregate Unamortized Discount and Deferred Issuance Costs [Member]    
Current liabilities:    
Secured notes payable, net of amortized discount $ 1,939,850