Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 2,363,728 $ 7,751,557
Accounts receivable 4,083,478 3,553,096
Inventory 805,576 609,072
Prepaid expenses and other assets 174,822 199,495
Total current assets 7,427,604 12,113,220
Property and Equipment, net 2,772,078 2,569,354
Deferred tax asset 500,000 500,000
Intellectual Property/Patents, net 2,985,162 52,945
Customer acquisition costs, net 334,591 642,203
Total assets 14,019,435 15,877,722
Current liabilities    
Accounts payable and accrued expenses 2,039,911 4,363,553
Current portion of notes payable 2,375,000 1,500,000
Current portion of equipment notes payable 60,467 39,499
Customer credits 167,000 590,206
Total current liabilities 4,642,378 6,493,258
Notes payable, net of discount and issuance costs 10,271,604 11,678,669
Convertible notes payable, net of discount and issuance costs 1,323,146 1,142,154
Warrant liability 163,000 1,313,000
Accrued interest 38,750 78,750
Equipment notes payable 183,048 143,135
Total liabilities 16,621,926 20,848,966
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 September 30, 2017 73,509,663 shares issued and outstanding as of December 31, 2016 76,246 73,510
Additional paid-in capital 52,109,076 49,838,469
Accumulated deficit (54,787,813) (54,883,223)
Total stockholders' deficit (2,602,491) (4,971,244)
Total liabilities and stockholders' deficit $ 14,019,435 $ 15,877,722