XML 14 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 1,296,314 $ 3,379,508
Accounts receivable, net 2,308,223 2,687,325
Inventories, net 2,212,940 2,198,266
Prepaid expenses and other current assets 297,653 385,508
Deferred cost on shipments to distributors 181,181 204,405
Total current assets 6,296,311 8,855,012
Property and equipment:    
Machinery and office equipment 2,180,742 2,052,091
Computer equipment 968,184 851,823
Property and equipment, gross 3,148,926 2,903,914
Accumulated depreciation (2,399,774) (2,241,010)
Property and equipment, net 749,152 662,904
Goodwill 4,427,000 4,427,000
Other long-term assets 257,355 271,650
Deferred tax assets 5,771,114 5,637,480
Total assets 17,500,932 19,854,046
Current liabilities:    
Accounts payable and accrued expenses 1,293,016 1,112,234
Accrued payroll and related expenses 513,948 630,999
Deferred revenue on shipments to distributors 441,258 492,611
Current portion of deferred service revenue 31,477 31,536
Lines of credit 1,535,062
Term loan-current portion 547,222
Current portion of capital leases and deferred rent 58,270 55,382
Total current liabilities 4,420,253 2,322,762
Long term portion of deferred service revenue 28,567 29,447
Long term portion of capital leases and deferred rent 243,859 271,414
Term loan-long-term portion 452,778
Total liabilities 5,145,457 2,623,623
Commitments and contingencies
StockholdersÂ’ equity:    
Common stock, $0.001 par value: Authorized – 20,000,000 shares, Issued and outstanding – 5,883,109 shares at June 30, 2018 and 7,011,128 shares at December 31, 2017 5,883 7,011
Additional paid-in capital 60,267,071 64,777,620
Accumulated deficit (47,917,479) (47,554,208)
Total stockholdersÂ’ equity 12,355,475 17,230,423
Total liabilities and stockholdersÂ’ equity $ 17,500,932 $ 19,854,046