Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Dec. 31, 2013
Current assets    
Cash $ 2,628,437 $ 2,572,685
Accounts receivable, net of allowance for doubtful accounts of $120,083 and $65,975, respectively 504,055 280,667
Other current assets 126,359 140,114
Total current assets 3,258,851 2,993,466
Goodwill 5,999,765 3,108,964
Intangible assets, net 3,200,852 935,316
Other assets 86,216 63,944
TOTAL ASSETS 12,545,684 7,101,690
Current liabilities    
Accounts payable 626,338 543,648
Accrued interest 18,623 16,943
Accrued and deferred personnel compensation 208,200 191,041
Deferred revenue and customer deposits 240,201 136,523
Notes payable 20,000 20,000
Derivative liabilities 48,384 106,176
Other current liabilities 26,356 36,372
Earn-out payable 2,332,000 34,755
Total current liabilities 3,520,102 1,085,458
Earn-out payable    24,245
Total non-current liabilities    24,245
Total liabilities 3,520,102 1,109,703
Stockholders' equity (deficit)    
Common stock, $0.001 par value; 50,000,000 shares authorized;16,319,878 and 3,869,688 shares issued and outstanding 22,238 16,320
Equity payable 108,170 108,170
Additional paid-in capital 60,674,285 54,452,697
Accumulated deficit (51,779,111) (48,585,200)
Total stockholders' equity (deficit) 9,025,582 5,991,987
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 12,545,684 $ 7,101,690