Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 133,562,319 $ 36,506,624
Accounts receivable, net of allowance for doubtful accounts of $404,000 and $461,000, respectively 12,358,984 11,064,720
Inventory 9,682,119 7,315,942
Prepaid expenses and other 1,307,028 853,381
Total current assets 156,910,450 55,740,667
Property and equipment, net 2,475,763 2,197,039
Intangible assets 1,157,521 936,992
Total assets 160,543,734 58,874,698
Current liabilities:    
Borrowings under revolving loan agreement   4,000,000
Accounts payable and accrued expenses 9,790,987 8,952,061
Current maturities of long term obligations 39,028 735,017
Contract liabilities, current 27,338 31,668
Total current liabilities 9,857,353 13,718,746
Long Term Obligations, net of current maturities and deferred financing fees 45,240 19,809,772
Other long-term liabilities 82,506 95,514
Contract liabilities 55,340 68,631
Total liabilities 10,040,439 33,692,663
Shareholders' equity:    
Common stock, $0.01 par value per share; 100,000,000 shares authorized; 38,310,884 and 34,350,329 shares issued and outstanding 383,109 343,503
Additional paid-in capital 291,515,330 153,167,817
Accumulated deficit (141,395,144) (128,329,285)
Total shareholders' equity 150,503,295 25,182,035
Total liabilities and shareholders' equity $ 160,543,734 $ 58,874,698