XML 39 R2.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED BALANCE SHEETS - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 525,201 $ 632,331
Accounts receivable, net 133,938 87,718
Prepaid expenses and other current assets 88,593 110,028
Total current assets 747,732 830,077
Property and equipment, net 93,371 90,843
Other intangible assets, net 4,079,558 4,290,773
Operating lease right-of-use assets 125,702 0
Total assets 5,046,363 5,211,693
Current liabilities:    
Accounts payable 841,926 758,365
Note payable 0 14,954
Finance leases - current portion 9,511 8,580
Accrued expenses 195,119 1,268,633
Contract liabilities 101,872 144,221
Operating lease - current portion 28,816 0
Total current liabilities 1,177,244 2,194,753
Long term liabilities:    
Finance leases - net of current portion 5,261 12,116
Operating lease obligations - net of current portion 99,651 0
Deferred tax liability, net 1,121,152 1,088,306
Total liabilities 2,403,308 3,295,175
Commitments and contingencies  
Shareholders' deficit    
Series A Preferred stock, $0.001 par value, 5,000,000 shares authorized; 4,438,578 and 3,784,712 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively; liquidation value of $13,758,085 and $11,800,316 at September 30, 2019 and December 31, 2018, respectively 4,439 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 September 30, 2019 and December 31, 2018 1,649 1,649
Additional paid-in capital 69,196,136 68,751,871
Accumulated other comprehensive income 442,635 344,182
Accumulated deficit (66,943,957) (67,127,122)
Common stock in treasury, at cost; 33,840 shares at September 30, 2019 and December 31, 2018 (57,847) (57,847)
Total shareholders' equity 2,643,055 1,916,518
Total liabilities and shareholders' equity $ 5,046,363 $ 5,211,693