Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 861,647 $ 1,128,072
Restricted cash on deposit 63,550 63,000
Accounts receivable, net 2,117,489 1,460,422
Inventories, net 937,125 1,027,250
Prepaid expenses and other current assets 146,919 95,282
Total current assets 4,126,730 3,774,026
Property and equipment, net 120,914 131,750
Other assets:    
Goodwill 5,796,430 5,796,430
Intangible assets, net 896,097 1,016,937
Deposits 34,000 34,238
Deferred financing costs, net 24,108 33,582
Total other assets 6,750,635 6,881,187
Total Assets 10,998,279 10,786,963
Current liabilities:    
Accounts payable 1,719,049 1,680,692
Accrued liabilities and expenses 1,227,741 1,090,025
Notes payable - current 209,507 279,740
Line of credit 1,034,856 628,204
Deferred revenues 166,644 120,754
Customer deposits 252,998 394,717
Total current liabilities 4,610,795 4,194,132
Long-term liabilities:    
Deferred lease liability 133,454 140,575
Notes payable - long term 26,336 114,212
Deferred income taxes 637,285 534,661
Total long-term liabilities 797,075 789,448
Redeemable preferred stock: 15,000,000 shares authorized, par value $.001 per share Series A; 215 shares issued, 185 shares outstanding at December 31, 2014, preference in liquidation of $1,303,859 as of December 31, 2014 0 1,303,859
Total redeemable preferred stock $ 0 $ 1,303,859
Commitments and contingencies    
Stockholders' Equity    
Common stock, par value $.001 per share; 190,000,000 shares authorized; 125,035,612 shares issued and outstanding at June 30, 2015 and December 31, 2014 $ 125,035 $ 125,035
Additional paid-in-capital 125,868,441 125,908,476
Accumulated deficit (122,126,584) (121,906,017)
Total stockholders' equity 5,590,409 4,499,524
Total Liabilities and Stockholders' Equity 10,998,279 10,786,963
Series A Preferred Stock    
Stockholders' Equity    
Preferred stock 1,340,566 0
Series B Preferred Stock    
Stockholders' Equity    
Preferred stock $ 382,951 $ 372,030