Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.5.0.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 4,432,421 $ 5,408,523
Accounts receivable, net 803,537 1,218,043
Inventory, net 1,802,178 1,807,895
Prepaid expenses and other current assets 557,974 97,249
Total current assets 7,596,110 8,531,710
Property and equipment, net 430,705 440,606
Software license inventory 976,900 937,100
Other assets 10,640 27,306
Total assets 9,014,355 9,936,722
Current liabilities:    
Accounts payable 1,510,827 697,807
Accrued compensation 670,078 557,784
Other accrued liabilities 539,659 1,398,707
Derivative liabilities 449,028 658,286
Deferred product and service revenues 222,488 116,009
Senior secured note payable, net of unamortized discount of $64,835 at December 31, 2015 4,224,609
Total current liabilities 3,392,080 7,653,202
Accrued interest 657,351 542,500
Senior secured note payable 2,000,000
Total liabilities 8,439,770 11,917,861
Commitments and contingencies
Stockholders' equity (deficit):    
Common stock, $0.01 par value; 200,000,000 shares authorized; 3,610,524 shares issued and outstanding at September 30, 2016; and 2,284,537 shares issued and outstanding at December 31, 2015 36,105 22,845
Additional paid-in capital 92,726,362 83,722,596
Accumulated deficit (92,187,882) (85,726,580)
Total stockholders' equity (deficit) 574,585 (1,981,139)
Total liabilities and stockholders' equity (deficit) 9,014,355 9,936,722
12% Junior Secured Notes Payable 2014 [Member]    
Current liabilities:    
Junior secured notes payable 1,764,408 3,257,389
Junior Secured Notes Payable 2010 [Member]    
Current liabilities:    
Junior secured notes payable $ 625,931 $ 464,770