Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 2,015,982 $ 5,408,523
Accounts receivable 769,723 1,218,043
Inventory, net 1,644,095 1,807,895
Prepaid expenses and other current assets 258,801 97,249
Total current assets 4,688,601 8,531,710
Property and equipment, net 539,747 440,606
Software license inventory 976,900 937,100
Other assets 238,210 27,306
Total assets 6,443,458 9,936,722
Current liabilities:    
Accounts payable 1,097,503 697,807
Accrued compensation 516,913 557,784
Other accrued liabilities 718,223 1,398,707
Derivative liabilities 1,085,414 658,286
Deferred product and service revenues 222,637 116,009
Senior secured note payable, net of unamortized discount of $64,835 at December 31, 2015 4,224,609
Total current liabilities 3,640,690 7,537,416
Accrued interest 715,125 542,500
Senior secured note payable 2,000,000
Junior secured notes payable
Total liabilities 10,408,082 11,917,861
Commitments and contingencies
Stockholders' deficit:    
Common stock, $0.01 par value; 200,000,000 shares authorized; 2,401,401 shares issued and outstanding at June 30, 2016; and 2,284,537 issued and outstanding at December 31, 2015 24,014 22,845
Additional paid-in capital 85,636,016 83,722,596
Accumulated deficit (89,624,654) (85,726,580)
Total stockholders' deficit (3,964,624) (1,981,139)
Total liabilities and stockholders' deficit 6,443,458 9,936,722
12% Junior Secured Notes Payable 2014 [Member]    
Current liabilities:    
Junior secured notes payable 3,480,056 3,257,389
Junior Secured Notes Payable 2010 [Member]    
Current liabilities:    
Junior secured notes payable $ 572,211 $ 464,770