Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 2,418,427  
Accounts receivable 2,931,353  
Inventory 659,579  
Prepaid expenses and other assets 210,535  
Total current assets 6,219,894  
Property and equipment, net 2,728,993 $ 2,569,354
Deferred tax asset 500,000
Intellectual property, net 2,934,862  
Customer acquisition costs, net 172,333 642,203
Total assets 12,056,082  
Current liabilities    
Accounts payable and accrued expenses 1,795,703  
Current portion of notes payable 2,500,000  
Current portion of convertible notes payable, net 1,461,417  
Current portion of equipment notes payable 61,177 39,499
Customer credits 167,000  
Accrued interest 77,500  
Deferred revenue 517,060  
Total current liabilities 6,579,857  
Notes payable, net of discount and issuance costs 9,733,361  
Convertible notes payable, net of discount and issuance costs  
Equipment notes payable 167,649 143,135
Total liabilities 16,480,868  
Stockholders' deficit    
Preferred stock, $.001 par value: 2,000,000 shares authorized  
Common stock; $.001 par value; 150,000,000 shares authorized; 76,246,113 shares issued and outstanding as of December 31, 2017 73,509,663 shares issued and outstanding as of December 31, 2016 76,246  
Additional paid-in capital 42,165,620  
Accumulated deficit (46,666,652)  
Total stockholders' deficit (4,424,786) (3,658,244)
Total liabilities and stockholders' deficit $ 12,056,082  
(Restated) [Member]    
Current assets    
Cash and cash equivalents   7,751,557
Accounts receivable   3,553,096
Inventory   609,072
Prepaid expenses and other assets   199,495
Total current assets   12,113,220
Property and equipment, net   2,569,354
Deferred tax asset   500,000
Intellectual property, net   52,945
Customer acquisition costs, net   642,203
Total assets   15,877,722
Current liabilities    
Accounts payable and accrued expenses   4,363,553
Current portion of notes payable   1,500,000
Current portion of convertible notes payable, net  
Current portion of equipment notes payable   39,499
Customer credits   590,206
Accrued interest   78,750
Deferred revenue  
Total current liabilities   6,572,008
Notes payable, net of discount and issuance costs   11,678,669
Convertible notes payable, net of discount and issuance costs   1,142,154
Equipment notes payable   143,135
Total liabilities   19,535,966
Stockholders' deficit    
Preferred stock, $.001 par value: 2,000,000 shares authorized  
Common stock; $.001 par value; 150,000,000 shares authorized; 76,246,113 shares issued and outstanding as of December 31, 2017 73,509,663 shares issued and outstanding as of December 31, 2016   73,510
Additional paid-in capital   40,031,625
Accumulated deficit   (43,763,379)
Total stockholders' deficit   (3,658,244)
Total liabilities and stockholders' deficit   $ 15,877,722