Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 1,139,404 $ 1,308,337
Accounts receivable, net of allowance of $125,000 2,345,593 2,097,454
Unbilled services 941,051 230,000
Prepaid expenses and other current assets 422,006 195,779
Deferred tax asset – current 38,000 38,000
Total current assets 4,886,054 3,869,570
Property and equipment, net 378,192 295,054
Intangible assets, net 2,008,773 809,481
Goodwill 56,000 56,000
Deferred tax asset 171,500 0
Deposits and other assets 27,759 26,725
Total assets 7,528,278 5,056,830
Current liabilities:    
Accounts payable 1,292,533 1,393,541
Accrued expenses 508,437 794,157
Accrued interest 14,514 14,716
Income taxes payable 272,791 76,000
Long term debt – current portion 241,315 174,578
Capital lease obligations – current portion 79,404 65,269
Deferred revenue 2,542,803 2,215,114
Total current liabilities 4,951,797 4,733,375
Long term debt, net of current portion 746,309 242,926
Capital lease obligations, net of current portion 77,832 66,922
Total liabilities $ 5,775,938 $ 5,043,223
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, value $ 0 $ 0
Common stock:    
Par value $.00001; authorized 75,000,000 shares; 4,410,736 and 3,959,064 shares issued and outstanding 45 40
Additional paid-in capital 12,186,540 11,030,043
Accumulated deficit (10,434,245) (11,016,477)
Total stockholders’ equity 1,752,340 13,607
Total liabilities and stockholders’ equity 7,528,278 5,056,830
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value 0 0
Series B Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock, value $ 0 $ 1