Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v2.4.1.9
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents $ 7,029,612us-gaap_CashAndCashEquivalentsAtCarryingValue $ 9,422,627us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 55,000us-gaap_RestrictedCashAndCashEquivalents 55,000us-gaap_RestrictedCashAndCashEquivalents
Prepaid expenses and other current assets 171,025us-gaap_PrepaidExpenseAndOtherAssetsCurrent 220,611us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Total current assets 7,255,637us-gaap_AssetsCurrent 9,698,238us-gaap_AssetsCurrent
FIXED ASSETS, NET 1,968,508us-gaap_PropertyPlantAndEquipmentNet 2,033,944us-gaap_PropertyPlantAndEquipmentNet
GOODWILL 1,675,462us-gaap_Goodwill 1,675,462us-gaap_Goodwill
OTHER ASSETS 11,872us-gaap_OtherAssetsNoncurrent 11,872us-gaap_OtherAssetsNoncurrent
TOTAL ASSETS 10,911,479us-gaap_Assets 13,419,516us-gaap_Assets
CURRENT LIABILITIES:    
Current maturities of notes payable 180,370us-gaap_NotesPayableCurrent 119,923us-gaap_NotesPayableCurrent
Accounts payable and accrued liabilities 824,240us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent 933,988us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent
Derivative liability 4,888,664us-gaap_DerivativeLiabilitiesCurrent 5,176,915us-gaap_DerivativeLiabilitiesCurrent
Capital lease obligations 2,259us-gaap_CapitalLeaseObligationsCurrent 2,180us-gaap_CapitalLeaseObligationsCurrent
Total current liabilities 5,895,533us-gaap_LiabilitiesCurrent 6,233,006us-gaap_LiabilitiesCurrent
LONG-TERM LIABILITIES:    
Notes payable, less current maturities 269,630us-gaap_LongTermNotesPayable 330,077us-gaap_LongTermNotesPayable
Deferred rent 148,313us-gaap_DeferredRentCreditNoncurrent 147,774us-gaap_DeferredRentCreditNoncurrent
Capital lease obligation, less current portion 9,836us-gaap_CapitalLeaseObligationsNoncurrent 11,126us-gaap_CapitalLeaseObligationsNoncurrent
Total long-term liabilities 427,779us-gaap_LiabilitiesNoncurrent 488,977us-gaap_LiabilitiesNoncurrent
Total liabilities 6,323,312us-gaap_Liabilities 6,721,983us-gaap_Liabilities
COMMITMENTS AND CONTINGENCIES (Note 8)      
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.00001 par value; 7,000 shares authorized; none issued and outstanding as of March 31, 2015 and December 31, 2014 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock, $0.00001 par value; 20,000,000 shares authorized; 7,562,762 shares issued and outstanding as of March 31, 2015 and December 31, 2014 76us-gaap_CommonStockValue 76us-gaap_CommonStockValue
Additional paid-in capital 66,000,917us-gaap_AdditionalPaidInCapital 65,809,127us-gaap_AdditionalPaidInCapital
Deficit accumulated (61,412,826)us-gaap_RetainedEarningsAccumulatedDeficit (59,111,670)us-gaap_RetainedEarningsAccumulatedDeficit
Total stockholders’ equity 4,588,167us-gaap_StockholdersEquity 6,697,533us-gaap_StockholdersEquity
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 10,911,479us-gaap_LiabilitiesAndStockholdersEquity $ 13,419,516us-gaap_LiabilitiesAndStockholdersEquity