Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 16,032,082 $ 5,695,722
Accounts receivable, net 1,163,663 1,089,917
Inventory, net 3,598,980 3,240,218
Prepaid expenses and other current assets 537,940 357,227
Total current assets 21,332,665 10,383,084
Property and equipment, net 342,584 447,162
Operating lease rights of use 321,155 374,218
Software license inventory 506,800 504,400
Licensing rights 517,207 135,000
Other assets 12,438 82,573
Total assets 23,032,849 11,926,437
Current liabilities:    
Accounts payable 1,491,377 965,783
Accrued compensation 969,877 1,408,292
Other accrued liabilities 334,627 328,460
Operating lease liabilities, current portion 110,914 113,520
Deferred product and service revenue 620,126 1,016,892
Paycheck Protection Program loan payable, current portion 296,677  
Total current liabilities 3,823,598 3,832,947
Accrued interest   959,659
Operating lease liabilities, net of current portion 227,714 276,669
Deferred product and service revenue, net of current portion 228,286 197,862
Paycheck Protection Program loan payable, net of current portion 599,323  
Total liabilities 21,693,020 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 155,127 152,353
Additional paid-in capital 117,640,195 117,173,984
Accumulated deficit (116,455,493) (112,739,620)
Total stockholders' equity 1,339,829 4,586,717
Total liabilities and stockholders' equity 23,032,849 11,926,437
2010 Senior Secured Convertible Notes Payable Net    
Current liabilities:    
Secured notes payable, net $ 16,814,099  
2014 Junior Secured Notes Payable Net    
Current liabilities:    
Secured notes payable, net   $ 2,072,583