Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Mar. 31, 2014
Dec. 31, 2013
CURRENT ASSETS    
Cash and cash equivalents $ 41,314,995 $ 49,459,564
Accounts receivable, net of allowance for doubtful accounts of $36,000 1,818,096 1,567,039
Other current assets 929,460 864,616
Total current assets 44,062,551 51,891,219
FIXED ASSETS, net of accumulated depreciation 1,311,842 1,264,624
OTHER ASSETS    
Security deposits 1,564 1,564
Restricted cash 6,300,000 300,000
Loan guarantee and financing fees, net of accumulated amortization of $517,500 in 2013   310,500
Patents 431,816 401,709
Investment in joint venture 975,902 987,657
Total other assets 7,709,282 2,001,430
Total Assets 53,083,675 55,157,273
CURRENT LIABILITIES    
Accounts payable and accrued expenses 2,327,442 2,346,240
Obligations under capital leases, current portion 43,910 51,400
Deferred revenue 86,559 199,560
Notes Payable, Current Portion   22,298
Line of credit   6,000,000
Total current liabilities 2,457,911 8,619,498
Obligations under capital leases 309,777 309,777
Deferred rent payable 167,579 170,789
Line of credit 6,000,000  
Warrant liability 513,000 594,000
Total liabilities 9,448,267 9,694,064
STOCKHOLDERS' EQUITY    
Preferred stock, authorized 9,764,000 shares, $0.0001 par value      
Common stock, authorized 100,000,000 shares, $0.0001 par value, 9,282,610 and 9,275,384 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively 928 927
Additional paid-in capital 107,444,953 106,786,862
Accumulated deficit (63,810,473) (61,324,580)
Total Stockholders' Equity 43,635,408 45,463,209
Total Liabilities and Stockholders' Equity $ 53,083,675 $ 55,157,273