Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets    
Cash $ 1,800,716 $ 848,230
Accounts receivable, net of allowance for doubtful accounts of $28,696 and $90,869, respectively 766,329 378,934
Other current assets 192,843 109,846
Total current assets 2,759,888 1,337,010
Goodwill 1,921,072 1,921,072
Intangible assets, net 2,241,483 2,010,952
Other assets 176,254 99,476
TOTAL ASSETS 7,098,697 5,368,510
Current liabilities    
Accounts payable 500,165 412,551
Accrued and deferred personnel compensation 144,903 185,214
Deferred revenue and customer deposits 71,872 180,941
Derivative liabilities 7,679 42,659
Other current liabilities 189,945 43,525
Earn-out payable   840,000
Total current liabilities 914,564 1,704,890
Total liabilities $ 914,564 $ 1,704,890
Commitments and Contingencies (See Note 10)
Stockholders' equity    
Common stock, $0.001 par value; 50,000,000 shares authorized; 28,787,991 and 22,748,193 shares issued and outstanding $ 28,788 $ 22,748
Equity payable 100,862 100,862
Additional paid-in capital 69,462,344 62,565,974
Accumulated deficit (63,407,861) (59,025,964)
Total stockholders' equity (deficit) 6,184,133 3,663,620
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 7,098,697 $ 5,368,510