XML 14 R3.htm IDEA: XBRL DOCUMENT v3.7.0.1
Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 1,622,345 $ 1,319,006
Accounts receivable, net 3,355,068 2,866,877
Inventories, net 1,842,112 1,537,439
Prepaid expenses and other current assets 327,853 259,464
Deferred cost on shipments to distributors 210,866 947,799
Total current assets 7,358,244 6,930,585
Property and equipment:    
Machinery and office equipment 2,116,181 2,063,221
Computer equipment 832,629 945,054
Property and equipment, gross 2,948,810 3,008,275
Accumulated depreciation (2,380,196) (2,444,392)
Property and equipment, net 568,614 563,883
Goodwill 4,427,000 4,427,000
Other assets 75,918 75,918
Deferred tax assets 9,016,762 9,589,408
Total assets 21,446,538 21,586,794
Current liabilities:    
Accounts payable and accrued expenses 1,934,462 1,581,226
Accrued payroll and related expenses 549,010 632,931
Deferred revenue on shipments to distributors 477,509 2,010,441
Related party convertible notes payable 752,625 752,625
Short term portion of deferred service revenue 41,507 47,776
Short term portion of capital leases and deferred rent 43,888 39,175
Total current liabilities 3,799,001 5,064,174
Long term portion of deferred service revenue 25,528 25,610
Long term portion of capital leases and deferred rent 314,881 327,078
Total liabilities 4,139,410 5,416,862
Stockholders’ equity:    
Common stock, $0.001 par value: Authorized – 20,000,000 shares, Issued and outstanding – 5,946,649 shares at March 31, 2017 and 5,878,405 shares at December 31, 2016 5,947 5,878
Additional paid-in capital 63,137,943 62,889,851
Accumulated deficit (45,836,762) (46,725,797)
Total stockholders’ equity 17,307,128 16,169,932
Total liabilities and stockholders’ equity $ 21,446,538 $ 21,586,794