Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets:    
Cash, cash equivalents and restricted cash $ 6,311,563 $ 3,581,209
Accounts receivable, net of allowance for bad debts of $54,136 and $32,993, respectively 2,849,861 2,301,752
Inventory, net 531,814 524,126
Prepaid expense and other 513,606 363,102
Total current assets 10,206,844 6,770,189
Property and equipment, net 199,585 263,867
Assets deployed at client locations, net 471,562 373,650
Goodwill and other intangible assets, net 9,981,252 11,452,809
Deferred tax assets, net 334,482 230,648
Other assets, net   23,000
Total assets 21,193,725 19,114,163
Current liabilities:    
Accounts payable 681,936 1,035,383
Accrued expenses 1,295,570 887,796
Income taxes payable 82,091 519,610
Revenue contract liability 1,438,492 1,083,639
Deferred rent, current portion 14,025 23,679
Current portion of long-term debt and capital lease obligations 1,471,046 1,195,787
Other current liabilities 7,455 123,441
Total current liabilities 4,990,615 4,869,335
Deferred rent, net   14,025
Capital lease obligations, net   14,217
Common stock warrant liability   1,333,333
Interest rate swap liability 96,181  
Long-term debt, net 8,649,828 7,420,385
Total liabilities 13,736,624 13,651,295
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; 39,921,591 and 39,565,591 shares issued and outstanding, respectively 39,922 39,566
Additional paid-in capital 4,733,701 3,957,703
Accumulated earnings 2,683,478 1,465,599
Total stockholders’ equity 7,457,101 5,462,868
Total liabilities and stockholders’ equity $ 21,193,725 $ 19,114,163