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Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 2,121,763 $ 958,860
Accounts receivable, net 2,112,514 2,837,006
Inventories, net 3,195,842 3,178,908
Prepaid expenses and other current assets 335,386 312,127
Deferred cost on shipments to distributors 170,016 233,823
Total current assets 7,935,521 7,520,724
Property and equipment:    
Machinery and office equipment 2,286,268 2,195,405
Computer equipment 1,412,030 1,336,445
Property and equipment, gross 3,698,298 3,531,850
Accumulated depreciation (2,850,635) (2,667,340)
Property and equipment, net 847,663 864,510
Goodwill 4,427,000
Other long-term assets 159,039 202,611
Deferred tax assets 5,506,934 5,506,934
Operating lease right-of-use asset 609,331 936,708
Total assets 15,058,488 19,458,487
Current liabilities:    
Accounts payable and accrued expenses 1,372,701 2,084,848
Accrued payroll and related expenses 375,511 566,350
Deferred revenue on shipments to distributors 450,591 611,029
Short term portion of deferred service revenue 25,522 32,900
Bank lines of credit 1,412,449
Notes payable – current portion 333,333
Subordinated convertible notes payable, net of discount 169,619
Subordinated convertible notes payable, net of discount-related party 1,272,138
Operating lease – current portion 483,254 419,288
Finance lease – current portion 8,291
Total current liabilities 4,149,336 5,468,488
Long term portion of operating lease 258,097 715,062
Long-term portion of deferred service revenue 28,794 40,711
Total liabilities 4,436,227 6,224,261
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value: Authorized – 20,000,000 shares, Issued and outstanding – 6,102,630 shares at December 31, 2020 and 6,017,674 shares at December 31, 2019 6,103 6,018
Additional paid-in capital 61,733,522 61,066,971
Accumulated deficit (51,117,364) (47,838,763)
Total stockholders’ equity 10,622,261 13,234,226
Total liabilities and stockholders’ equity $ 15,058,488 $ 19,458,487