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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current Assets    
Cash and cash equivalents $ 18,414,542 $ 8,100,288
Investment in debt securities 459,295 7,389,407
Accounts receivable, net 1,086,258 14,011,180
Inventories 5,462,996 2,997,120
Prepaid and other current assets 1,683,976 1,505,175
Total Current Assets 27,107,067 34,003,170
Property and Equipment, Net 979,022 1,082,428
Patent Rights, Net 289,158 337,351
Deposits 101,988 101,561
Operating Lease Right-of-Use Assets, Net 1,232,568 1,400,037
Total Assets 29,709,803 36,924,547
Current Liabilities    
Accounts payable and accrued expenses 2,860,885 4,779,435
Deferred revenue, current portion 1,518,255 1,191,898
Operating lease liabilities, current portion 301,217 309,524
Product warranties 119,692 187,454
Total Current Liabilities 4,800,049 6,468,311
Loan Payable 1,022,785
Operating Lease Liabilities 965,718 1,115,529
Deferred Revenue, Net of Current Portion 851,515 1,339,285
Total Liabilities 7,640,067 8,923,125
Commitments and Contingencies
Stockholders' Equity    
Preferred stock, 5,000,000 shares authorized and none issued and outstanding
Common stock, $0.01 par value – 50,000,000 authorized; 16,575,561 issued and 16,502,353 outstanding at June 30, 2020; 16,540,478 issued and 16,485,780 outstanding at December 31, 2019 165,755 165,404
Additional paid-in capital 43,601,105 43,314,123
Treasury stock, 73,208 and 54,698 shares at cost, at June 30, 2020 and December 31, 2019, respectively (309,901) (252,570)
Accumulated deficit (21,387,223) (15,225,535)
Total Stockholders' Equity 22,069,736 28,001,422
Total Liabilities and Stockholders' Equity $ 29,709,803 $ 36,924,547