Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current assets    
Cash $ 2,053,013 $ 634,129
Accounts receivable, net of allowance for doubtful accounts of $240,973 and $237,383, respectively 791,221 700,356
Other current assets 188,965 131,345
Total current assets 3,033,199 1,465,830
Goodwill 3,058,307 1,921,072
Intangible assets, net 2,292,709 2,373,689
Other assets 193,201 173,022
TOTAL ASSETS 8,577,416 5,933,613
Current liabilities    
Accounts payable 871,811 375,363
Accrued and deferred personnel compensation 299,115 414,314
Deferred revenue and customer deposits 278,528 72,624
Notes payable 96,903  
Other current liabilities 169,595 197,145
Total current liabilities 1,715,952 1,059,446
Non-current liabilities    
Notes payable 318,796  
Total non-current liabilities 318,796  
Total liabilities $ 2,034,748 $ 1,059,446
Commitments and Contingencies (See Note 9)
Stockholders' equity    
Common stock, $0.001 par value; 50,000,000 shares authorized; 32,642,324 and 28,787,991, shares issued and outstanding $ 32,642 $ 28,788
Equity payable 350,862 100,862
Additional paid-in capital 72,670,382 69,903,527
Accumulated other comprehensive loss (63,219)  
Accumulated deficit (66,447,999) (65,159,010)
Total stockholders' equity 6,542,668 4,874,167
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 8,577,416 $ 5,933,613