Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets    
Cash $ 3,173,639 $ 848,230
Accounts receivable, net of allowance for doubtful accounts of $75,674 and $90,869, respectively 329,676 378,934
Other current assets 167,605 109,846
Total current assets 3,670,920 1,337,010
Goodwill 1,921,072 1,921,072
Intangible assets, net 2,278,881 2,010,952
Other assets 170,787 99,476
TOTAL ASSETS 8,041,660 5,368,510
Current liabilities    
Accounts payable 537,685 412,551
Accrued and deferred personnel compensation 157,408 185,214
Deferred revenue and customer deposits 68,494 180,941
Derivative liabilities 49,474 42,659
Other current liabilities 86,463 43,525
Earn-out payable 838,000 840,000
Total current liabilities 1,737,524 1,704,890
Total Liabilities 1,737,524 1,704,890
Stockholders' equity    
Common stock, $0.001 par value; 50,000,000 shares authorized; 27,864,063 and 22,748,193 shares issued and outstanding 27,864 22,748
Equity payable 100,862 100,862
Additional paid-in capital 68,260,823 62,565,974
Accumulated deficit (62,085,413) (59,025,964)
Total stockholders' equity 6,304,136 3,663,620
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 8,041,660 $ 5,368,510