Prepaid Expenses And Other Current Assets

12 Months Ended

Dec. 31, 2012

Prepaid Expenses And Other Current Assets [Abstract]

Prepaid Expenses And Other Current Assets

4. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	December 31, 2012	December 31, 2011
Prepaid expenses	$ 330,756	$ 460,297
Deferred cost of revenue	527,725	289,312
Derivative asset	1,736	-
Deferred Financing	1,590,916	1,647,435
Other assets	1,040,934	684,440
Total prepaid expenses and other current assets	$ 3,492,067	$ 3,081,484

Deferred cost of revenue represents the cost of systems for which title has transferred from the Company but for which revenue has not been recognized.

The derivative asset represents the fair value of a debt conversion feature that is part of the subordinated convertible debentures agreement.  Refer to Notes 9 and 12 for discussion of the debentures and fair value measurement, respectively.