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Condensed Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,074,854 $ 3,379,508
Accounts receivable, net 2,925,056 2,687,325
Inventories, net 2,279,248 2,198,266
Prepaid expenses and other current assets 309,689 385,508
Deferred cost on shipments to distributors 168,279 204,405
Total current assets 7,757,126 8,855,012
Property and equipment:    
Machinery and office equipment 2,100,794 2,052,091
Computer equipment 942,389 851,823
Property and equipment, gross 3,043,183 2,903,914
Accumulated depreciation (2,304,011) (2,241,010)
Property and equipment, net 739,172 662,904
Goodwill 4,427,000 4,427,000
Other long-term assets 267,750 271,650
Deferred tax assets 5,717,407 5,637,480
Total assets 18,908,455 19,854,046
Current liabilities:    
Accounts payable and accrued expenses 1,217,121 1,112,234
Accrued payroll and related expenses 539,401 630,999
Deferred revenue on shipments to distributors 398,837 492,611
Current portion of deferred service revenue 32,704 31,536
Term loan – current portion 3,375,000
Current portion of capital leases and deferred rent 56,845 55,382
Total current liabilities 5,619,908 2,322,762
Long-term portion of deferred service revenue 32,974 29,447
Long-term portion of capital leases and deferred rent 257,649 271,414
Term loan - long-term portion 625,000
Total liabilities 6,535,531 2,623,623
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value: Authorized – 20,000,000 shares, Issued and outstanding – 5,878,980 shares at March 31, 2018 and 7,011,128 shares at December 31, 2017 5,879 7,011
Additional paid-in capital 60,146,282 64,777,620
Accumulated deficit (47,779,237) (47,554,208)
Total stockholders’ equity 12,372,924 17,230,423
Total liabilities and stockholders’ equity $ 18,908,455 $ 19,854,046