Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 1,095,703 $ 1,128,072
Restricted cash on deposit 31,267 63,000
Accounts receivable, net 2,383,005 1,460,422
Inventories, net 898,354 1,027,250
Prepaid expenses and other current assets 276,628 95,282
Total current assets 4,684,957 3,774,026
Property and equipment, net 113,840 131,750
Other assets:    
Goodwill 5,796,430 5,796,430
Intangible assets, net 835,677 1,016,937
Deposits 34,000 34,238
Deferred financing costs, net 19,371 33,582
Total other assets 6,685,478 6,881,187
Total Assets 11,484,275 10,786,963
Current liabilities:    
Accounts payable 1,810,552 1,680,692
Accrued liabilities and expenses 1,276,261 1,090,025
Notes payable - current 151,848 279,740
Line of credit 961,771 628,204
Deferred revenues 150,596 120,754
Customer deposits 179,534 394,717
Total current liabilities 4,530,562 4,194,132
Long-term liabilities:    
Deferred lease liability 126,236 140,575
Notes payable - long term 13,161 114,212
Deferred income taxes 688,597 534,661
Total long-term liabilities 827,994 789,448
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 $ 127,054 $ 125,035
Additional paid-in-capital 126,132,312 125,908,476
Accumulated deficit (121,857,164) (121,906,017)
Total stockholders' equity 6,125,719 4,499,524
Total Liabilities and Stockholders' Equity 11,484,275 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