Annual report pursuant to section 13 and 15(d)

Balance Sheets

v2.4.0.8
Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 3,516,244 $ 1,620,005
Accounts receivable 770,352 445,432
Inventory 1,477,161 899,702
Prepaid expenses and other current assets 174,870 110,873
Total current assets 5,938,627 3,076,012
Property and equipment, net 903,160 1,287,115
Software license inventory 927,500 1,137,500
Other assets 103,783 51,119
Total assets 7,873,070 5,551,746
Current liabilities:    
Accounts payable 1,376,627 1,961,195
Accrued compensation 210,359 278,124
Other accrued liabilities 310,317 1,177,142
Derivative liabilites 3,747,858 2,129,091
Related party deferred revenues   650,000
Deferred product and service revenues 106,859 112,725
Total current liabilities 10,090,621 6,308,277
Other accrued liabilities 531,830 574,722
Note payable, net of unamortized discount of $437,261 and $0 at December 31, 2013 and 2012, respectively 3,852,183 2,000,000
Junior secured notes payable, net of unamortized discount of $2,767,595 and $2,804,451 at December 31, 2013 and 2012, respectively 232,405 195,549
Total liabilities 14,707,039 13,417,149
Commitments and contingencies (Notes 5, 8, 10, 11 and 12)      
Stockholders' deficit:    
Common stock, $0.01 par value; 100,000,000 shares authorized; 58,536,972 shares issued and outstanding at December 31, 2013; and 48,418,830 and 48,093,000 issued and outstanding, respectively, at December 31, 2012 585,369 484,187
Additional paid-in capital 65,333,264 58,995,972
Treasury stock, at cost, 325,830 common shares at December 31, 2012   (1,679,234)
Accumulated deficit (72,752,602) (65,666,328)
Total stockholders' deficit (6,833,969) (7,865,403)
Total liabilities and stockholders' deficit 7,873,070 5,551,746
Current Related Party Convertible Notes Payable [Member]
    
Current liabilities:    
Related party convertible notes payable 4,338,601  
Noncurrent Related Party Convertible Notes Payable [Member]
    
Current liabilities:    
Related party convertible notes payable   $ 4,338,601