Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets (Unaudited)

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Condensed Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 3,161,666 $ 2,304,761
Restricted cash 93,270 84,577
Accounts receivable, net of allowance for bad debts of $38,015 and $31,125, respectively 2,396,087 2,137,245
Inventory, net 525,543 427,105
Prepaid expense and other 307,157 194,747
Total current assets 6,483,723 5,148,435
Goodwill and other intangible assets, net 11,825,005 12,846,019
Deferred tax assets, net 367,057 367,057
Other assets, net 23,000 82,050
Total assets 19,292,441 19,011,945
Current liabilities:    
Accounts payable 329,193 461,913
Accrued expenses 1,722,039 1,109,428
Income taxes payable 662,159 786,430
Deferred revenue 1,050,416 1,014,731
Deferred rent, current portion 21,494 14,938
Current portion of long-term debt and capital lease obligations 1,121,289 1,230,285
Other current liabilities 119,960 90,960
Total current liabilities 5,026,550 4,708,685
Deferred rent, net 21,037 37,704
Capital lease obligations, net 22,589 46,978
Common stock warrant liability 1,333,333 923,616
Long-term debt, net 7,620,230 8,669,151
Total liabilities 14,023,739 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 3,697,536 3,109,473
Accumulated earnings 1,531,600 1,477,022
Total stockholders’ equity 5,268,702 4,625,811
Total liabilities and stockholders’ equity 19,292,441 19,011,945
Property Plant and Equipment Excluding Assets Leased to Others    
Current assets:    
Property and equipment, net 293,488 356,253
Products Leased and Held for Lease, Net    
Current assets:    
Property and equipment, net $ 300,168 $ 212,131