XML 14 R2.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
Apr. 30, 2016
Jan. 31, 2016
Current assets:    
Cash and cash equivalents $ 6,516,222 $ 9,882,136
Accounts receivable, net of allowance for doubtful accounts of $191,306 and $155,407, respectively 4,053,983 4,199,315
Contract receivables 93,831 119,697
Prepaid hardware and third-party software for future delivery 7,595 5,858
Prepaid client maintenance contracts 983,787 956,913
Other prepaid assets 997,397 941,532
Other current assets 28,265 97,986
Total current assets 12,681,080 16,203,437
Property and equipment:    
Computer equipment 2,645,851 2,647,135
Computer software 811,460 801,895
Office furniture, fixtures and equipment 683,443 683,443
Leasehold improvements 729,348 729,348
Property and equipment, gross 4,870,102 4,861,821
Accumulated depreciation and amortization (2,725,612) (2,407,746)
Property and equipment, net 2,144,490 2,454,075
Contract receivables, less current portion 0 8,711
Capitalized software development costs, net of accumulated amortization of $15,635,713 and $14,919,948, respectively 5,905,861 6,123,638
Intangible assets, net of accumulated amortization of $4,997,121 and $4,671,675, respectively 7,829,879 8,155,325
Deferred financing costs, net of accumulated amortization of zero and $84,531, respectively 0 270,147
Goodwill 16,184,667 16,184,667
Other 726,895 746,018
Total non-current assets 32,791,792 33,942,581
Total assets 45,472,872 50,146,018
Current liabilities:    
Accounts payable 569,276 1,136,779
Accrued compensation 407,088 935,324
Accrued other expenses 536,233 328,551
Current portion of term loan 2,468,227 673,807
Deferred revenues 8,397,555 10,447,280
Current portion of capital lease obligations 411,263 592,642
Total current liabilities 12,789,642 14,114,383
Non-current liabilities:    
Term loan 5,645,800 7,861,084
Warrants liability 165,710 205,113
Royalty liability 2,327,136 2,291,888
Lease incentive liability 371,788 369,406
Capital lease obligations 57,526 93,257
Deferred revenues, less current portion 1,078,729 1,212,709
Total non-current liabilities 9,646,689 12,033,457
Total liabilities 22,436,331 26,147,840
Series A 0% Convertible Redeemable Preferred Stock, $.01 par value per share, $8,849,985 redemption value, 4,000,000 shares authorized, 2,949,995 shares issued and outstanding, net of unamortized preferred stock discount of $491,216 and $875,935, respectively 8,358,769 7,974,050
Stockholders’ equity:    
Common stock, $.01 par value per share, 45,000,000 shares authorized; 19,411,549 and 18,783,540 shares issued and outstanding, respectively 194,115 187,836
Additional paid in capital 79,825,549 79,700,577
Accumulated deficit (65,341,892) (63,864,285)
Total stockholders’ equity 14,677,772 16,024,128
Total liability and stockholders' equity $ 45,472,872 $ 50,146,018