v3.19.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Current assets    
Cash $ 228,956 $ 4,084,686
Accounts receivable, net of allowance for doubtful accounts of $63,727 and $83,789, respectively 6,711,595 10,759,250
Unbilled revenue 11,754 4,330
Prepaid expenses and other current assets 259,712 395,861
Total current assets 7,212,017 15,244,127
Property and equipment, net 2,123,672 2,306,279
Other assets    
Goodwill 9,853,342 9,853,342
Intangible assets, net of accumulated amortization 9,441,681 10,808,018
Other assets 35,170 36,070
Total other assets 19,330,193 20,697,430
Total assets 28,665,882 38,247,836
Current liabilities    
Accounts payable 9,499,541 13,614,053
Accrued expenses and other current liabilities 2,489,834 2,887,816
Financed receivables 1,859,853 0
Notes payable 250,000 0
Revolving line of credit 0 4,900,000
Total current liabilities 14,099,228 21,401,869
Long-term liabilities    
Deferred tax liability 2,339,832 2,331,900
Convertible promissory note 1,000,000 0
Other long-term liabilities 193,007 426,725
Total long-term liabilities 3,532,839 2,758,625
Stockholders’ equity    
Preferred stock, $.001 par value: Authorized shares - 500,000 - none issued and outstanding 0 0
Common stock, $.001 par value: Authorized shares - 40,000,000, issued shares 28,897,616 and 25,300,189, respectively; outstanding shares 28,618,454 and 24,923,662, respectively 32,759 28,996
Additional paid-in capital 138,867,509 136,033,967
Accumulated deficit (126,469,894) (120,579,062)
Treasury stock, at cost - 376,527 shares (1,396,559) (1,396,559)
Total stockholders' equity 11,033,815 14,087,342
Total liabilities and stockholders' equity $ 28,665,882 $ 38,247,836

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