Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

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Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash, cash equivalents and restricted cash $ 8,171,751 $ 6,311,563
Accounts receivable, net of allowance of $82,121 and $54,136, respectively 3,114,968 2,849,861
Inventory, net 735,426 531,814
Income tax receivable 43,352  
Prepaid expense 523,789 510,254
Other current assets 5,258 3,352
Total current assets 12,594,544 10,206,844
Property and equipment, net 141,776 199,585
Operating lease right-of-use assets 162,303  
Assets deployed at client locations, net 441,703 471,562
Goodwill 1,091,000 1,091,000
Other intangible assets, net 8,162,392 8,890,252
Deferred tax assets, net 334,482 334,482
Total assets 22,928,200 21,193,725
Current liabilities:    
Accounts payable 1,334,830 681,936
Accrued expenses 1,022,693 1,295,570
Income taxes payable   82,091
Revenue contract liability 1,322,770 1,438,492
Deferred rent, current portion   14,025
Current portion of long-term debt 1,437,851 1,456,847
Current portion of operating lease liabilities 142,130  
Other current liabilities 146 21,654
Total current liabilities 5,260,420 4,990,615
Long-term operating lease liabilities 27,114  
Long-term debt, net 47,043,788 8,649,828
Interest rate swap liability 187,782 96,181
Total liabilities 52,519,104 13,736,624
Commitments and Contingencies (See Note 11)
Stockholders’ equity    
Preferred stock, 10,000,000 shares authorized, $0.001 par value; 0 shares issued and outstanding, respectively
Common stock, 65,000,000 shares authorized; $0.001 par value; 17,752,744 and 39,921,591 shares issued and outstanding, respectively 17,753 39,922
Additional paid-in capital 5,265,388 4,733,701
Accumulated earnings (deficit) (34,874,045) 2,683,478
Total stockholders’ equity (deficit) (29,590,904) 7,457,101
Total liabilities and stockholders’ equity (deficit) $ 22,928,200 $ 21,193,725