Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash $ 12,946,000 $ 1,815,000
Accounts receivable, net of allowance of $484,000 and $361,000, respectively 1,199,000 919,000
Inventory, net of allowance of $51,000 and $51,000, respectively 38,000 34,000
Prepaid expenses and other current assets 1,098,000 900,000
Total current assets 15,281,000 3,668,000
Right-of-use assets 2,590,000 2,730,000
Property and equipment, net of accumulated depreciation of $372,000 and $339,000, respectively 813,000 862,000
Intangible assets, net of amortization of $2,680,000 and $2,310,000, respectively (including provisional intangible assets of $982,000 and $1,042,000, respectively) 4,783,000 5,153,000
Goodwill (including provisional goodwill of $3,723,000, respectively 20,060,000 20,060,000
Other assets 67,000 69,000
Total assets 43,594,000 32,542,000
Current liabilities:    
Accounts payable and accrued expenses 5,148,000 5,097,000
Accrued officers' salary 937,000 822,000
Accrued interest (including $100,000 and $102,000 payable to related parties) 105,000 114,000
Advance on future receipts, net of discount of $725,000 and $67,000, respectively 3,170,000 110,000
Notes payable - related party 352,000 1,077,000
Deferred incentive compensation, current 664,000 521,000
Operating lease liability, current 591,000 596,000
Deferred revenue and customer deposits 298,000 272,000
Derivative liability 5,480,000 8,266,000
Total current liabilities 16,745,000 16,875,000
Long Term liabilities:    
Notes payable 240,000 1,458,000
Note payable - related party, non-current 725,000
Deferred incentive compensation to officers 521,000
Operating lease liability, non-current 2,786,000 2,943,000
Total liabilities 20,496,000 21,797,000
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; 1,706 and 2,006 issued and outstanding as of March 31, 2021 and December 31, 2020
Class A units, 100 issued and authorized as of March 31, 2021 and December 31, 2020
Class B units, 2,642,159 shares authorized, 0 and 2,642,159 issued and outstanding as of March 31, 2021 and December 31, 2020 3,065,000
Common stock, $0.0001 par value, 200,000,000 shares authorized, 62,633,282 and 47,795,009 shares issued and outstanding as of March 31, 2021 and December 31, 2020 6,000 5,000
Additional paid-in capital 112,978,000 89,216,000
Accumulated deficit (89,886,000) (81,541,000)
Total stockholders' equity 23,098,000 10,745,000
Total liabilities and stockholders' equity $ 43,594,000 $ 32,542,000