Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.19.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 3,101,133 $ 9,289,831
Accounts receivable, net 1,233,896 949,415
Inventory, net 2,105,976 2,314,184
Prepaid expenses and other current assets 213,684 192,727
Total current assets 6,654,689 12,746,157
Property and equipment, net 377,706 267,667
Software license inventory 801,900 871,900
Other assets 22,538 11,641
Total assets 7,856,833 13,897,365
Current liabilities:    
Accounts payable 500,929 759,445
Accrued compensation 764,960 806,445
Other accrued liabilities 390,838 480,159
Derivative liabilities 95,786
Deferred product and service revenues 350,963 256,178
Senior secured note payable 2,000,000
Total current liabilities 2,007,690 4,398,013
Accrued interest 857,500 752,500
Total liabilities 6,345,831 8,068,625
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized at December 31, 2018 and 2017; none issued and outstanding at December 31, 2018 and 2017
Common stock, $0.01 par value; 200,000,000 shares authorized at December 31, 2018 and 2017; 11,018,364 and 10,693,851 shares issued and outstanding at December 31, 2018 and 2017, respectively 110,183 106,937
Additional paid-in capital 108,600,405 106,757,920
Accumulated deficit (107,199,586) (101,036,117)
Total stockholders' equity 1,511,002 5,828,740
Total liabilities and stockholders' equity 7,856,833 13,897,365
Junior Secured Notes Payable 2014 [Member]    
Current liabilities:    
Junior secured notes payable, net 1,939,850 1,874,570
Junior Secured Notes Payable 2010 [Member]    
Current liabilities:    
Junior secured notes payable, net $ 1,540,791 $ 1,043,542