Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 9,289,831 $ 3,315,774
Accounts receivable, net 949,415 865,943
Inventory, net 2,314,184 1,768,382
Prepaid expenses and other current assets 192,727 134,996
Total current assets 12,746,157 6,085,095
Property and equipment, net 267,667 328,249
Software license inventory 871,900 976,900
Other assets 11,641 10,641
Total assets 13,897,365 7,400,885
Current liabilities:    
Accounts payable 759,445 1,546,926
Accrued compensation 806,445 666,060
Other accrued liabilities 480,159 450,424
Derivative liabilities 95,786 131,173
Deferred product and service revenues 256,178 223,117
Senior secured note payable 2,000,000
Total current liabilities 4,398,013 3,017,700
Accrued interest 752,500 647,500
Senior secured note payable 2,000,000
Junior secured notes payable
Total liabilities 8,068,625 8,156,954
Commitments and contingencies
Stockholders' equity (deficit):    
Preferred stock, $0.01 par value; 25,000,000 shares authorized at December 31, 2017 and 2016; none issued and outstanding at December 31, 2017 and 2016
Common stock, $0.01 par value; 200,000,000 shares authorized at December 31, 2017 and 2016; 10,693,851 and 3,622,032 shares issued and outstanding at December 31, 2017 and 2016, respectively 106,937 36,220
Additional paid-in capital 106,757,920 93,076,475
Accumulated deficit (101,036,117) (93,868,764)
Total stockholders' equity (deficit) 5,828,740 (756,069)
Total liabilities and stockholders' equity (deficit) 13,897,365 7,400,885
12% Junior Secured Notes Payable 2014 [Member]    
Current liabilities:    
Junior secured notes payable 1,874,570 1,794,226
Junior Secured Notes Payable 2010 [Member]    
Current liabilities:    
Junior secured notes payable $ 1,043,542 $ 697,528