Annual report pursuant to section 13 and 15(d)

Balance Sheets

v2.4.0.6
Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
Current assets:    
Cash and cash equivalents $ 398,424 $ 182,907
Restricted cash 216,964 17,221
Accounts receivables, net allowance for bad debts of $44,223 and $41,306 1,026,768 843,328
Prepaid expenses 29,443 57,650
Inventory 217,772 217,162
Note receivable - related party, current portion 17,155 17,491
Deferred tax asset 341,823   
Other current assets 42,375 112,513
Total current assets 2,290,724 1,448,272
Property and equipment, net 43,399 42,637
Products leased and held for lease, net 47,433 32,800
Intangible assets, net 18,550,416 20,111,763
Goodwill 1,091,000 1,091,000
Note receivable - related party, net of current portion 371,106 374,449
Other assets, net 10,868 14,490
Total assets 22,404,946 23,115,411
Current liabilities:    
Accounts payable 286,983 274,576
Accrued expenses 251,734 337,979
Deferred revenue 440,342 336,048
Jackpot liabilities 222,109 21,350
Notes payable, current portion 2,360,930 2,091,827
Total current liabilities 3,562,098 3,061,780
Long-term debt    
Notes payable, net of debt discount, net of current portion 18,250,864 19,713,819
Total liabilities 21,812,962 22,775,599
Commitments and Contingencies      
Stockholders equity    
Preferred stock, 10,000,000 shares, $.001 par value preferred stock authorized; 0 shares issued and outstanding      
Common stock, 65,000,000 shares authorized; 38,310,591 shares issued and outstanding (2011 - 37,508,091) 38,311 37,507
Additional paid-in capital 2,113,097 1,915,311
Stock warrants 401,827 513,181
Stock subscription receivable    (3,916)
Accumulated deficit (1,565,505) (2,187,231)
Accumulated other comprehensive (loss) income (395,746) 64,960
Total stockholders equity 591,984 339,812
Total liabilities and stockholders equity $ 22,404,946 $ 23,115,411