XML 41 R2.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Balance Sheets - USD ($)
Jun. 30, 2019
Jun. 30, 2018
Current Assets:    
Cash $ 18,609,423 $ 14,892,439
Receivables, net of allowance for doubtful accounts of $145,825 and $153,220 at June 30, 2019 and 2018, respectively 3,878,658 4,222,348
Contract asset - unbilled current portion 3,023,694 3,502,287
Prepaid expense and other current assets 1,037,099 1,116,387
Total current assets 26,548,874 23,733,461
Property and equipment, net 2,972,257 1,896,348
Other Assets:    
Deposits, and other assets 17,146 18,691
Contract asset - unbilled long-term portion 1,659,110 1,194,574
Investments 0 477,884
Customer relationships 788,400 919,800
Goodwill 20,883,886 20,883,886
Capitalized software costs, net 70,864 168,926
Total other assets 23,419,406 23,663,761
Total assets 52,940,537 49,293,570
Current liabilities:    
Accounts payable 530,294 1,490,434
Accrued liabilities 1,399,368 745,694
Contract liability - deferred revenue 1,917,787 2,335,286
Line of credit 4,660,000 3,230,000
Current portion of notes payable 295,168 188,478
Total current liabilities 8,802,617 7,989,892
Long-term liabilities:    
Notes payable, less current portion 920,754 1,592,077
Other long-term liabilities 0 7,275
Total liabilities 9,723,371 9,589,244
Commitments and contingencies
Stockholders' equity:    
Common Stock, $0.01 par value, 50,000,000 shares authorized; 19,793,372 and 19,773,549 issued and outstanding at June 30, 2019 and 2018, respectively 197,936 197,738
Additional paid-in capital 76,908,566 76,711,887
Accumulated deficit (33,897,714) (37,213,677)
Total stockholders' equity 43,217,166 39,704,326
Total liabilities and stockholders' equity 52,940,537 49,293,570
Series B Preferred    
Stockholders' equity:    
Preferred stock 6,254 6,254
Series B-1 Preferred    
Stockholders' equity:    
Preferred stock $ 2,124 $ 2,124