Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current Assets:    
Cash and cash equivalents $ 5,347,361 $ 4,434,292
Trade accounts receivable, less allowance for doubtful accounts of $61,931 and $56,931 6,068,738 1,306,600
Inventories 2,113,259 2,576,453
Other assets 799,077 390,977
Total current assets 14,328,435 8,708,322
Property and equipment 714,098 700,741
Accumulated depreciation and amortization (459,702) (381,237)
Net property and equipment 254,396 319,504
Goodwill 10,165,993 10,165,993
Intangible assets 11,674,311 12,052,876
Other assets, net 30,389 30,391
Total assets 36,453,524 31,277,086
Current Liabilities:    
Accounts payable 4,648,668 2,631,163
Accrued liabilities 662,484 865,995
Accrued compensation and benefits 454,653 219,117
Related party payable   8,237
Deferred revenue 41,520 29,626
Customer deposits 247,071 1,397,736
Seesmart purchase price obligations 662,786 1,949,996
Seesmart notes payable obligations   3,421,592
Total current liabilities 6,717,182 10,523,462
Deferred revenue - noncurrent 109,969 57,642
Dividends payable 533,334  
Total liabilities 7,360,485 10,581,104
Commitments and contingencies (Note 13)      
Stockholders' Equity:    
Common stock, $.001 par value, 150,000,000 shares authorized, 80,222,028 and 70,213,480 issued and outstanding at June 30, 2013 and December 31, 2012, respectively 80,223 70,214
Additional paid-in capital 74,219,774 60,035,719
Accumulated deficit (60,742,607) (50,289,966)
Total stockholders' equity 23,493,733 20,695,982
Total liabilities and stockholders' equity 36,453,524 31,277,086
Series E Convertible Redeemable Preferred Stock
    
Temporary Equity    
Series E convertible redeemable preferred stock, $.001 par value, aggregate liquidation preference of $5,599,306; 10,000 shares authorized, 5,000 shares issued and outstanding 5,599,306  
Series C Convertible Preferred Stock
    
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   $ 943,672