Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 964,825 $ 951,249
Restricted cash on deposit 31,277 31,277
Accounts receivable, net 2,798,776 2,263,347
Inventories 702,144 812,052
Prepaid expenses and other current assets 235,563 157,500
Total current assets 4,732,585 4,215,425
Property and equipment, net 136,333 142,004
Other assets:    
Goodwill 5,796,430 5,796,430
Intangible assets, net 714,837 775,257
Deposits 34,001 34,001
Deferred financing costs, net 9,896 14,633
Total other assets 6,555,164 6,620,321
Total Assets 11,424,082 10,977,750
Current liabilities:    
Accounts payable 1,688,473 1,754,566
Accrued liabilities and expenses 1,203,260 882,041
Notes payable - current 39,746 93,340
Line of credit 1,061,771 901,771
Deferred revenues 242,716 291,965
Deferred lease liability - current 16,804 15,214
Customer deposits 271,602 309,840
Total current liabilities 4,524,372 4,248,737
Long-term liabilities:    
Deferred lease liability - long term 99,316 103,804
Deferred income taxes 785,359 734,047
Total long-term liabilities $ 884,675 $ 837,851
Commitments and contingencies
Stockholders' Equity    
Common stock, par value $.001 per share; 190,000,000 shares authorized; 127,054,848 shares issued and outstanding at March 31, 2016 and at December 31, 2015 $ 127,054 $ 127,054
Additional paid-in-capital 126,139,463 126,135,712
Accumulated deficit (121,974,999) (122,095,121)
Total stockholders' equity 6,015,035 5,891,162
Total Liabilities and Stockholders' Equity 11,424,082 10,977,750
Series B Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock value 1,340,566 1,340,566
Series A Preferred Stock [Member]    
Stockholders' Equity    
Preferred stock value $ 382,951 $ 382,951