Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 14,665,597 $ 5,695,722
Accounts receivable, net 1,449,333 1,089,917
Inventory, net 3,534,643 3,240,218
Prepaid expenses and other current assets 492,886 357,227
Total current assets 20,142,459 10,383,084
Property and equipment, net 327,055 447,162
Operating lease rights of use 294,583 374,218
Software license inventory 571,800 504,400
Licensing rights 487,640 135,000
Other assets 23,380 82,573
Total assets 21,846,917 11,926,437
Current liabilities:    
Accounts payable 1,064,121 965,783
Accrued compensation 1,210,356 1,408,292
Other accrued liabilities 487,768 328,460
Operating lease liabilities, current portion 108,923 113,520
Deferred product and service revenue 767,969 1,016,892
Paycheck Protection Program loan payable, current portion 73,985  
Total current liabilities 3,713,122 3,832,947
Accrued interest 959,659
Operating lease liabilities, net of current portion 205,468 276,669
Deferred product and service revenue, net of current portion 108,816 197,862
Paycheck Protection Program loan payable, net of current portion 822,015
Total liabilities 21,697,817 7,339,720
Stockholders' equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued and outstanding at September 30, 2020 and December 31, 2019
Common stock, $0.01 par value; 200,000,000 shares authorized; 15,881,404 shares issued and outstanding at September 30, 2020; and 15,235,308 issued and outstanding at December 31, 2019 158,814 152,353
Additional paid-in capital 117,930,011 117,173,984
Accumulated deficit (117,939,725) (112,739,620)
Total stockholders' equity 149,100 4,586,717
Total liabilities and stockholders' equity 21,846,917 11,926,437
2010 Senior Secured Convertible Notes Payable Net    
Current liabilities:    
Secured notes payable, net 16,848,396
2014 Junior Secured Notes Payable Net    
Current liabilities:    
Secured notes payable, net $ 2,072,583