Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Mar. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 5,959,847 $ 4,434,292
Trade accounts receivable, less allowance for doubtful accounts of $56,931 5,441,369 1,306,600
Inventories 2,411,493 2,576,453
Other assets 1,040,375 390,977
Total current assets 14,853,084 8,708,322
Property and equipment 705,023 700,741
Accumulated depreciation and amortization (419,592) (381,237)
Net property and equipment 285,431 319,504
Goodwill 10,158,702 11,456,593
Intangible assets, less accumulated amortization of $1,823,120 and $873,045 12,701,801 12,052,876
Other assets, net 30,388 30,391
Total assets 38,029,406 32,567,686
Current Liabilities:    
Accounts payable 3,647,518 2,631,164
Accrued liabilities 1,833,738 865,995
Accrued compensation and benefits 693,070 219,117
Related party payable 51,340 8,237
Deferred revenue 33,520 29,626
Customer deposits 153,700 1,397,736
Seesmart purchase price obligations 1,366,856 3,240,595
Seesmart notes payable obligations   3,421,592
Total current liabilities 7,779,742 11,814,062
Deferred revenue - noncurrent 87,351 57,642
Dividend payable 280,556  
Embedded conversion liability 4,804,850  
Total liabilities 12,952,499 11,871,704
Commitments and contingencies      
Stockholders' Equity:    
Common stock, $.001 par value, 120,000,000 shares authorized, 76,351,391 and 70,213,480 issued and outstanding at March 31, 2013 and December 31, 2012, respectively 76,352 70,214
Additional paid-in capital 64,136,067 60,035,719
Accumulated deficit (55,608,049) (50,289,966)
Total stockholders' equity 19,547,115 20,695,982
Total liabilities and stockholders' equity 38,029,406 32,567,686
Series E Convertible Redeemable Preferred Stock
    
Temporary Equity    
Series E convertible redeemable preferred stock, $.001 par value, aggregate liquidation preference of $5,529,792; 10,000 shares authorized, 5,000 shares issued and outstanding 5,529,792  
Series C Convertible Preferred Stock
    
Current Liabilities:    
Dividend payable 250,000  
Stockholders' Equity:    
Preferred stock 9,936,326 9,936,326
Series B Convertible Preferred Stock
    
Stockholders' Equity:    
Preferred stock 17 17
Series D Convertible Preferred Stock
    
Stockholders' Equity:    
Preferred stock $ 1,006,402 $ 943,672