XML 13 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
Current Assets    
Cash and cash equivalents $ 17,121,319 $ 10,085,468
Accounts receivable, net 10,658,661 4,958,255
Inventories 1,972,046 1,171,383
Investment in debt securities 1,104,635
Prepaid and other current assets 1,349,635 566,972
Total Current Assets 31,101,661 17,886,713
Property and Equipment, Net 959,332 394,078
Patent Rights, Net 457,833 530,123
Deposits 24,272 24,272
Total Assets 32,543,098 18,835,186
Current Liabilities    
Accounts payable and accrued expenses 4,889,874 4,067,894
Deferred revenue, current portion 808,374 652,242
Product warranties 111,915 146,722
Total Current Liabilities 5,810,163 4,866,858
Revolving credit facility 2,214,970
Deferred Revenue, Net of Current Portion 533,960 73,083
Total Liabilities 6,344,123 7,154,911
Stockholders' Equity    
Preferred stock, 5,000,000 shares authorized and none issued and outstanding
Common stock, $0.01 par value - 50,000,000 authorized; 16,118,915 issued and 16,085,461 outstanding at September 30, 2018; 13,522,168 issued and 13,488,714 outstanding at December 31, 2017 161,189 135,221
Additional paid-in capital 39,799,045 23,181,641
Treasury stock, 33,454 shares at cost, at September 30, 2018 and December 31, 2017, respectively (133,816) (133,816)
Accumulated deficit (13,627,443) (11,502,771)
Total Stockholders' Equity 26,198,975 11,680,275
Total Liabilities and Stockholders' Equity $ 32,543,098 $ 18,835,186