v3.20.1
Condensed Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash, cash equivalents and restricted cash $ 11,051,143 $ 9,686,698
Accounts receivable, net of allowance of $122,354 and $77,433, respectively 2,564,271 3,099,586
Inventory, net 726,483 665,654
Income tax receivable 224,385 260,347
Prepaid expense and other current assets 958,216 761,650
Total current assets 15,524,498 14,473,935
Property and equipment, net 123,363 144,909
Operating lease right-of-use assets 237,559 37,689
Assets deployed at client locations, net 367,266 405,522
Goodwill 1,091,000 1,091,000
Other intangible assets, net 7,048,144 7,430,643
Deferred tax assets, net 399,283 399,283
Total assets 24,791,113 23,982,981
Current liabilities:    
Accounts payable 775,088 766,305
Accrued expenses 1,085,368 1,450,879
Revenue contract liability 1,298,451 1,294,265
Current portion of long-term debt 1,599,103 1,634,527
Current portion of operating lease liabilities 214,012 19,140
Total current liabilities 4,972,022 5,165,116
Long-term operating lease liabilities 23,972 18,978
Long-term debt, net 46,929,382 46,291,014
Interest rate swap liability 216,658 140,495
Total liabilities 52,142,034 51,615,603
Commitments and Contingencies (See Note 11)
Stockholders’ equity (deficit)    
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; 18,106,277 and 18,017,944 shares issued and outstanding, respectively 18,106 18,018
Additional paid-in capital 5,960,644 5,795,636
Accumulated deficit (33,329,671) (33,446,276)
Total stockholders’ deficit (27,350,921) (27,632,622)
Total liabilities and stockholders’ deficit $ 24,791,113 $ 23,982,981

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