Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 3,486,147 $ 2,304,761
Restricted cash 95,062 84,577
Accounts receivable, net of allowance for bad debts of $32,993 and $31,125, respectively 2,301,752 2,137,245
Inventory, net 524,126 427,105
Prepaid expense and other 363,102 194,747
Total current assets 6,770,189 5,148,435
Property and equipment, net 263,867 356,253
Assets deployed at client locations, net 373,650 212,131
Goodwill and other intangible assets, net 11,452,809 12,846,019
Deferred tax assets, net 230,648 367,057
Other assets, net 23,000 82,050
Total assets 19,114,163 19,011,945
Current liabilities:    
Accounts payable 1,035,383 461,913
Accrued expenses 887,796 1,109,428
Income taxes payable 519,610 786,430
Deferred revenue 1,083,639 1,014,731
Deferred rent, current portion 23,679 14,938
Current portion of long-term debt and capital lease obligations 1,195,787 1,230,285
Other current liabilities 123,441 90,960
Total current liabilities 4,869,335 4,708,685
Deferred rent, net 14,025 37,704
Capital lease obligations, net 14,217 46,978
Common stock warrant liability 1,333,333 923,616
Long-term debt, net 7,420,385 8,669,151
Total liabilities 13,651,295 14,386,134
Commitments and Contingencies (See Note 10)
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; 39,565,591 and 39,315,591 shares issued and outstanding, respectively 39,566 39,316
Additional paid-in capital 3,957,703 3,109,473
Accumulated earnings 1,465,599 1,477,022
Total stockholders’ equity 5,462,868 4,625,811
Total liabilities and stockholders’ equity $ 19,114,163 $ 19,011,945