XML 46 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current assets    
Cash and cash equivalents $ 2,518,377 $ 3,307,822
Trade accounts receivable, net 7,108,011 7,242,603
Inventory 501,406 154,626
Current portion of deferred tax asset 1,533,280 1,632,280
Prepaid expenses and other current assets 439,721 361,813
Total current assets 12,100,795 12,699,144
Property and equipment, net 603,183 639,839
Intangibles, net 16,168,723 19,092,998
Goodwill 16,167,834 16,167,834
Deferred tax asset, net of current portion 5,617,565 5,844,980
Other assets, net 626,269 685,867
Total assets 51,284,369 55,130,662
Current liabilities    
Accounts payable 1,621,439 1,044,459
Accrued commissions 1,492,563 1,052,802
Accrued compensation 2,251,733 2,494,404
Accrued contingent consideration 2,868,734 3,792,505
Accrued expenses and other current liabilities 707,827 1,390,188
Deferred revenue and customer advances 3,378,824 1,929,377
Current portion of related party subordinated notes payable 2,000,000 1,500,000
Current portion of long-term debt, net of unamortized debt discount of $39,873 at September 30, 2013 and December 31, 2012 1,960,127 1,960,127
Total current liabilities 16,281,247 15,163,862
Long-term debt, net of unamortized debt discount of $59,809 at September 30, 2013 and $89,714 at December 31, 2012 2,940,191 4,410,286
Subordinated notes payable 4,000,000 4,000,000
Deferred revenue and customer advances, net of current portion 4,026,184 3,379,635
Accrued contingent consideration, net of current portion   966,752
Related party subordinated notes payable, net of current portion   500,000
Other liabilities 15,747  
Total liabilities 27,263,369 28,420,535
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; no shares issued or outstanding      
Common stock, $0.0001 par value; 30,000,000 shares authorized; 12,071,425 shares issued and 12,013,436 shares outstanding at September 30, 2013 and 11,998,313 shares issued and 11,949,376 shares outstanding at December 31, 2012 1,201 1,195
Additional paid-in capital 44,319,151 43,770,108
Accumulated deficit (20,040,161) (16,836,823)
Treasury stock, at cost; 57,989 shares at September 30, 2013 and 48,937 shares at December 31, 2012 (259,191) (224,353)
Total stockholders' equity 24,021,000 26,710,127
Total liabilities and stockholders' equity $ 51,284,369 $ 55,130,662