Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.8.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 22,041,097 $ 30,014,405
Accounts receivable, net of allowance for doubtful accounts of approximately $335,000 and $272,000, respectively 10,200,560 8,052,203
Inventory 6,698,943 5,458,840
Prepaid expenses and other 571,912 511,804
Total current assets 39,512,512 44,037,252
Property and equipment, net 1,763,840 1,494,247
Intangible assets 951,473 828,979
Total Assets 42,227,825 46,360,478
Current liabilities:    
Borrowings under revolving loan agreement 4,000,000 4,025,023
Accounts payable and accrued expenses 7,072,530 7,002,165
Current maturities of long term obligations 21,596 20,899
Deferred revenue, current 43,576 33,282
Total current liabilities 11,137,702 11,081,369
Long Term Obligations, net of current maturities and deferred financing fees 20,356,698 20,265,745
Deferred lease 105,261  
Deferred revenue, noncurrent 76,027 92,215
Total liabilities 31,675,688 31,439,329
Shareholders' equity:    
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 33,393,804 and 33,008,865 shares issued and outstanding 333,938 330,088
Additional paid-in capital 136,048,305 132,474,884
Accumulated deficit (125,830,106) (117,883,823)
Total shareholders' equity 10,552,137 14,921,149
Total Liabilities and Shareholders' equity $ 42,227,825 $ 46,360,478