Prepaid Expenses And Other Current Assets

12 Months Ended

Dec. 31, 2013

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, 2013	December 31, 2012
Prepaid expenses	$        591,305	$       330,756
Deferred cost of revenue	72,699	527,725
Derivative asset	—	1,736
Deferred financing costs	622,949	1,590,916
Deposits	658,253	1,040,934
Total prepaid expenses and other current assets	$     1,945,206	$    3,492,067

Deferred cost of revenue represents the cost of systems for which risk of loss and or 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.