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Unaudited Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Series 1 [Member]    
Stockholders’ deficit:    
Preferred stock $ 707,000 $ 707,000
Series 2 [Member]    
Stockholders’ deficit:    
Preferred stock 724,000 724,000
Series 3 [Member]    
Stockholders’ deficit:    
Preferred stock 412,000 412,000
Cash and cash equivalents 566,000 102,000
Accounts receivable 559,000 580,000
Inventories 53,000 45,000
Prepaid expenses 56,000 69,000
Total current assets 1,234,000 796,000
Property and equipment, net 367,000 486,000
Other assets 41,000 43,000
TOTAL ASSETS 1,642,000 1,325,000
Accounts payable and accrued expenses 912,000 840,000
Dividends payable 231,000 160,000
Obligations under capital lease, current portion 160,000 197,000
Deferred revenue 965,000 386,000
Total current liabilities 2,268,000 1,583,000
Loan payable to officer 2,055,000 1,530,000
Obligations under capital lease, noncurrent portion 77,000 139,000
Commitments and contingencies
Common stock, $0.01 par value: Authorized shares — 80,000; Issued shares — 12,758 as of June 30, 2016 and 12,622 as of December 31, 2015 Outstanding shares — 12,748 as of June 30, 2016 and 12,612 as of December 31, 2015 127,000 126,000
Common stock held in treasury, at cost – 10 shares (362,000) (362,000)
Additional paid-in capital 56,619,000 56,520,000
Accumulated deficit (60,878,000) (59,947,000)
Accumulated other comprehensive loss (107,000) (107,000)
Total stockholders’ deficit (2,758,000) (1,927,000)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 1,642,000 $ 1,325,000