Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.7.0.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 1,969,597 $ 3,315,774
Accounts receivable 1,009,775 865,943
Inventory, net 1,809,020 1,768,382
Prepaid expenses and other current assets 95,625 134,996
Total current assets 4,884,017 6,085,095
Property and equipment, net 383,534 328,249
Software license inventory 906,900 976,900
Other assets 16,300 10,641
Total assets 6,190,751 7,400,885
Current liabilities:    
Accounts payable 1,308,056 1,546,926
Accrued compensation 811,951 666,060
Other accrued liabilities 618,839 450,424
Derivative liabilities 224,219 131,173
Deferred product and service revenues 263,097 223,117
Total current liabilities 3,226,162 3,017,700
Accrued interest 577,125 647,500
Senior secured note payable 2,000,000 2,000,000
Total liabilities 8,395,663 8,156,954
Commitments and contingencies
Stockholders' deficit:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized at March 31, 2017 and December 31, 2016; none issued and outstanding at March 31, 2017 and December 31, 2016
Common stock, $0.01 par value; 200,000,000 shares authorized at March 31, 2017 and December 31, 2016; 3,622,032 shares issued and outstanding at March 31, 2017 and December 31, 2016 36,220 36,220
Additional paid-in capital 93,283,370 93,076,475
Accumulated deficit (95,524,502)  
Total stockholders' deficit (2,204,912) (756,069)
Total liabilities and stockholders' deficit 6,190,751 7,400,885
12% Junior Secured Notes Payable 2014 [Member]    
Current liabilities:    
Junior secured notes payable 1,814,312 1,794,226
Junior Secured Notes Payable 2010 [Member]    
Current liabilities:    
Junior secured notes payable $ 778,064 $ 697,528