Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheet

v3.20.1
Condensed Consolidated Balance Sheet - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets:    
Cash $ 1,615,000 $ 983,000
Accounts receivable, net of allowance of $280,000 and $230,000, respectively 1,212,000 1,271,000
Inventory, net of allowance of $0 and $2,000, respectively 74,000 103,000
Prepaid expenses 249,000 236,000
Total current assets 3,150,000 2,593,000
Right-of-use assets, net of accumulated amortization of $484,000 and $349,000 respectively 3,140,000 3,275,000
Property and equipment, net of accumulated depreciation of $202,000 and $164,000, respectively 803,000 720,000
Intangible assets, net of accumulated amortization of $1,300,000 and $975,000 respectively 5,040,000 5,365,000
Goodwill 16,337,000 16,337,000
Other assets 115,000 69,000
Total assets 28,585,000 28,359,000
Current liabilities:    
Accounts payable and accrued expenses 4,569,000 4,338,000
Accrued officers' salary 207,000 207,000
Accrued interest - related parties 107,000 82,000
Advance on future receipts, net of discount of $137,000 and $274,000, respectively 457,000 732,000
Notes payable - related party 937,000 112,000
Operating lease liability, current 505,000 391,000
Deferred incentive compensation, current 521,000
Deferred revenue and customer deposits 261,000 306,000
Derivative liability 6,907,000 5,048,000
Total current liabilities 14,471,000 11,216,000
Long Term liabilities:    
Note payable - related party, non-current 240,000 1,065,000
Deferred incentive compensation to officers, non-current 521,000 1,042,000
Operating lease liability, non-current 3,432,000 3,591,000
Total liabilities 18,664,000 16,914,000
Commitments and contingencies  
Stockholders' equity    
Preferred stock, $0.0001 par value, 15,000,000 shares authorized: Series A Convertible Preferred Stock, 6,000 shares authorized; 3,246 and 4,396 issued and outstanding as of March 31, 2020 and December 31, 2019
Common stock, $0.0001 par value, 200,000,000 shares authorized, 28,962,589 and 24,496,197 shares issued and outstanding as of March 31, 2020 and December 31, 2019 3,000 2,000
Additional paid-in capital 68,449,000 68,028,000
Accumulated deficit (58,531,000) (56,585,000)
Total stockholders' equity 9,921,000 11,445,000
Total liabilities and stockholders' equity $ 28,585,000 $ 28,359,000