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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash $ 707,599 $ 1,532,550
Accounts receivable, net 5,217,809 2,684,567
Security deposits 25,448 26,077
Inventory 3,536,784 4,790,301
Note receivable, current portion 12,580 16,517
Prepaid income tax 77,000 152,000
Prepaid expenses and other current assets 297,012 334,483
Total current assets 9,874,232 9,536,494
PROPERTY AND EQUIPMENT, net 215,923 226,804
Note receivable, net of current portion 52,695 52,695
Deferred Taxes 689,000 812,879
Intangible assets, net 6,824,005 6,929,505
TOTAL ASSETS 17,655,856 17,558,378
CURRENT LIABILITIES:    
Accounts payable 2,310,397 3,363,906
Accrued expenses and other liabilities 901,610 1,003,832
Litigation Reserve 90,000 95,775
Income tax payable 0 0
Line of credit 2,010,305 1,490,305
Term loan agreement, current portion 530,333 525,589
Notes payable 49,546 54,036
Total current liabilities 5,892,190 6,533,443
LONG-TERM DEBT, net of current portion 779,718 914,138
TOTAL LIABILITIES $ 6,671,908 $ 7,447,581
CONTINGENCIES AND COMMITMENTS
STOCKHOLDERS' EQUITY:    
Common stock, $.01 par value, 150,000,000 shares authorized; 10,368,112 and 8,198,516 issued and outstanding as of March 31, 2016 and December 31, 2015, respectively $ 103,681 $ 104,443
Subscribed common stock 402 97
Treasury stock 0 (142,228)
Additional paid-in capital 30,880,348 30,963,122
Accumulated deficit (20,000,483) (20,814,637)
Total stockholders' equity 10,983,947 10,110,797
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 17,655,856 $ 17,558,378