Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.5.0.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 18,273,203 $ 25,909,500
Accounts receivable, net of allowance for doubtful accounts of approximately $241,000 and $192,000 respectively 6,072,121 4,782,989
Inventory 4,786,322 3,933,960
Prepaid expenses and other 615,511 424,925
Total current assets 29,747,157 35,051,374
Property and equipment, net 1,260,190 970,870
Intangible assets 743,390 678,082
Total Assets 31,750,737 36,700,326
Current liabilities:    
Accounts payable and accrued expenses 3,893,834 3,695,127
Current deferred revenue 28,593 14,118
Total current liabilities 3,922,427 3,709,245
Note Payable - Revenue Interest Purchase Agreement 24,952,201 24,701,693
Long Term Deferred Revenue 83,006 93,797
Total liabilities 28,957,634 28,504,735
Shareholders' equity:    
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 30,128,099 and 29,984,591 shares issued and outstanding 301,281 299,846
Additional paid-in capital 112,443,288 111,368,424
Accumulated deficit (109,951,466) (103,472,679)
Total shareholders' equity (deficit) 2,793,103 8,195,591
Total Liabilities and Shareholders' equity $ 31,750,737 $ 36,700,326