Balance Sheet

v3.5.0.2
Condensed Balance Sheets - USD ($)
Sep. 30, 2016
Dec. 31, 2015
Current Assets    
Cash and cash equivalents $ 392,949 $ 8,295,310
Accounts receivable, net 527,408 426,265
Inventories 576,668 484,695
Prepaid expenses and other current assets 653,322 543,949
Total Current Assets 2,150,347 9,750,219
Property and Equipment, net 372,132 124,188
Capitalized Software, net 620,949 0
Investment 50,000 0
Total Assets 3,193,428 9,874,407
Current Liabilities    
Accounts payable and accrued expenses 2,154,283 2,486,529
Deferred revenues 1,789,336 2,028,120
Obligation under capital lease, current portion 44,904 9,010
Convertible notes payable, current portion net of original issue discount of $31,579 568,500 0
Three Year, 50% notes payable, net of $0 discount, current portion 40,500 40,500
Notes payable, current portion 276,788 126,260
Total Current Liabilities 4,874,311 4,690,419
LONG-TERM LIABILITIES    
Deferred revenues 1,218,677 1,091,838
Obligation under capital lease 128,820 19,118
Convertible notes payable 30,000 30,000
Three Year, 50% notes payable, net of $113,873 discount, non-current portion 35,444 66,000
Notes payable, non-current portion 41,101 219,963
Total Liabilities 6,328,353 6,117,338
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY (DEFICIT)    
Series A Preferred stock, par value $0.0001 per share, 1,000,000 shares authorized; 100,000 shares issued and outstanding, respectively 10 10
Common stock, par value $0.0001 per share, 50,000,000 shares authorized; 8,915,522 and 8,362,903 issued and outstanding, respectively 889 837
Common stock to be issued, 284,170 and 260,206 shares, respectively 341,756 700,121
Additional paid-in-capital 34,488,740 33,043,232
Accumulated deficit (37,966,320) (29,987,131)
Total Stockholders’ Equity (Deficit) (3,134,925) 3,757,069
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) $ 3,193,428 $ 9,874,407

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