Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 1,449,773 $ 762,892
Accounts receivable, net of allowance of $90,000 and $80,000 1,924,428 1,574,996
Unbilled services 488,000 90,000
Deferred tax asset – current 40,000 40,000
Prepaid expenses and other current assets 132,421 69,276
Total current assets 4,034,622 2,537,164
Property and equipment, net 179,295 241,895
Intangible assets, net 860,507 687,880
Deferred tax asset 29,000 80,000
Deposits and other assets 26,575 22,836
Total assets 5,129,999 3,569,775
Current liabilities:    
Note payable to related party 0 20,000
Current portion of long-term debt 218,805 175,000
Accounts payable and accrued expenses 2,234,039 1,836,229
Accrued interest 14,692 13,291
Due to related party 0 2,672
Capital lease obligations 46,199 53,726
Deferred revenue 2,092,852 1,715,555
Total current liabilities 4,606,587 3,816,473
Capital lease obligations – long-term 24,943 48,624
Long-term debt 260,059 104,517
Total liabilities 4,891,589 3,969,614
Commitments and contingencies      
Stockholders’ equity (deficit):    
Additional paid-in capital 11,017,803 10,808,361
Accumulated deficit (10,780,582) (11,209,378)
Total stockholders’ equity (deficit) 238,410 (399,839)
Total liabilities and stockholders’ equity (deficit) 5,129,999 3,569,775
Preferred Stock [Member]
   
Stockholders’ equity (deficit):    
Preferred stock, value 0 0
Series A Preferred Stock [Member]
   
Stockholders’ equity (deficit):    
Preferred stock, value 0 0
Series B Preferred Stock [Member]
   
Stockholders’ equity (deficit):    
Preferred stock, value 1 1
Common Class A [Member]
   
Stockholders’ equity (deficit):    
Common stock, value 1,188 1,177
Common Class B [Member]
   
Stockholders’ equity (deficit):    
Common stock, value $ 0 $ 0