Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets    
Cash $ 1,773,122 $ 2,572,685
Accounts receivable, net of allowance for doubtful accounts of $125,048 and $65,975, respectively 353,459 280,667
Other current assets 119,336 140,114
Total current assets 2,245,917 2,993,466
Goodwill 5,999,765 3,108,964
Intangible assets, net 3,086,620 935,316
Other assets 98,142 63,944
TOTAL ASSETS 11,430,444 7,101,690
Current liabilities    
Accounts payable 487,852 543,648
Accrued interest 19,505 16,943
Accrued and deferred personnel compensation 230,716 191,041
Deferred revenue and customer deposits 188,574 136,523
Notes payable 20,000 20,000
Derivative liabilities 50,738 106,176
Other current liabilities 22,447 36,372
Earn-out payable 2,332,000 34,755
Total current liabilities 3,351,832 1,085,458
Earn-out payable    24,245
Total non-current liabilities    24,245
Total liabilities 3,351,832 1,109,703
Stockholders' equity    
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 307,745 108,170
Additional paid-in capital 60,965,807 54,452,697
Accumulated deficit (53,217,178) (48,585,200)
Total stockholders' equity 8,078,612 5,991,987
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 11,430,444 $ 7,101,690