Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 16,976,329 $ 5,695,722
Accounts receivable, net 984,866 1,089,917
Inventory, net 3,650,282 3,240,218
Prepaid expenses and other current assets 188,429 357,227
Total current assets 21,799,906 10,383,084
Property and equipment, net 389,223 447,162
Operating lease rights of use 347,685 374,218
Software license inventory 489,300 504,400
Licensing rights 546,744 135,000
Other assets 12,469 82,573
Total assets 23,585,327 11,926,437
Current liabilities:    
Accounts payable 1,435,613 965,783
Accrued compensation 826,486 1,408,292
Other accrued liabilities 411,491 328,460
Operating lease liabilities, current portion 110,349 113,520
Deferred product and service revenue 857,813 1,016,892
Total current liabilities 3,641,752 3,832,947
Accrued interest 959,659
Operating lease liabilities, net of current portion 255,364 276,669
Deferred product and service revenue, net of current portion 148,150 197,862
Total liabilities 20,825,467 7,339,720
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued and outstanding at March 31, 2020 and December 31, 2019
Common stock, $0.01 par value; 200,000,000 shares authorized; 15,507,149 shares issued and outstanding at Mach 31, 2020; and 15,235,308 shares issued and outstanding at December 31, 2019 155,071 152,353
Additional paid-in capital 117,399,234 117,173,984
Accumulated deficit (114,794,445) (112,739,620)
Total stockholders' equity 2,759,860 4,586,717
Total liabilities and stockholders' equity 23,585,327 11,926,437
2010 Senior Secured Convertible Notes Payable Net    
Current liabilities:    
Secured notes payable, net 16,780,201
2014 Junior Secured Notes Payable Net    
Current liabilities:    
Secured notes payable, net $ 2,072,583