Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $) (USD $)
Mar. 31, 2014
Dec. 31, 2013
ASSETS    
Cash and cash equivalents $ 894,295 $ 572,672
Restricted cash on deposit 0 382,000
Accounts receivable, net 1,380,465 1,659,756
Inventories 887,612 939,382
Prepaid expenses 149,599 171,216
Total current assets 3,311,971 3,725,026
Property and equipment, net 159,064 44,638
Goodwill 5,796,430 5,796,430
Intangible assets, net 1,198,197 1,258,617
Deposits 34,238 34,238
Total other assets 7,028,865 7,089,285
Total Assets 10,499,900 10,858,949
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable 1,508,460 1,843,589
Notes payable - current 268,931 265,985
Line of credit 201,275 0
Accrued liabilities and expenses 1,830,019 1,997,157
Deferred revenues 563,537 111,291
Customer deposits 342,302 77,405
Total current liabilities 4,714,524 4,295,427
Deferred lease liability 145,791 130,920
Notes payable - long term 326,357 394,502
Deferred income taxes 386,587 335,275
Total long-term liabilities 858,735 860,697
Redeemable preferred stock 1,201,386 1,165,625
Commitments and contingencies 0 0
Stockholders' Equity    
Preferred stock - Series B preferred stock; 538 shares issued, 55 shares outstanding at March 31, 2014 and December 31, 2013, preference in liquidation of $355,435 and $350,005 as of March 31, 2014 and December 31, 2013, respectively 336,513 324,063
Common stock, par value $.001 per share; 190,000,000 shares authorized; 125,035,612 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively 125,035 125,035
Additional paid-in-capital 125,990,762 126,036,949
Accumulated deficit (122,727,055) (121,948,847)
Total stockholders' equity 3,725,255 4,537,200
Total Liabilities and Stockholders' Equity $ 10,499,900 $ 10,858,949