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CONDENSED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 645,985 $ 632,331
Accounts receivable, net 147,009 87,718
Prepaid expenses and other current assets 91,654 110,028
Total current assets 884,648 830,077
Property and equipment, net 93,065 90,843
Other intangible assets, net 4,278,083 4,290,773
Operating lease right-of-use assets 81,773 0
Total assets 5,337,569 5,211,693
Current liabilities:    
Accounts payable 869,090 758,365
Note payable 0 14,954
Finance leases - current portion 9,776 8,580
Accrued expenses 1,317,860 1,268,633
Contract liabilities 100,784 144,221
Operating lease obligations - current portion 15,665 0
Total current liabilities 2,313,175 2,194,753
Long term liabilities:    
Finance leases - net of current portion 9,263 12,116
Operating lease obligations – net of current portion 66,282 0
Deferred tax liability 1,112,332 1,088,306
Total liabilities 3,501,052 3,295,175
Commitments and contingencies
Shareholders’ deficit    
Series A Preferred stock, $0.001 par value, 5,000,000 shares authorized; 3,784,712 shares issued and outstanding at March 31, 2019 and December 31, 2018; liquidation value of $11,843,287 and $11,800,316 at March 31, 2019 and December 31, 2018, respectively 3,785 3,785
Common stock, $0.001 par value, 25,000,000 shares authorized; 1,648,657 shares issued and 1,614,817 shares outstanding at March 31, 2019 and December 31, 2018 1,649 1,649
Additional paid-in capital 68,810,711 68,751,871
Accumulated other comprehensive income 417,327 344,182
Accumulated deficit (67,339,108) (67,127,122)
Common stock in treasury, at cost; 33,840 shares at March 31, 2019 and December 31, 2018 (57,847) (57,847)
Total shareholders' equity 1,836,517 1,916,518
Total liabilities and shareholders' equity $ 5,337,569 $ 5,211,693