Annual report pursuant to Section 13 and 15(d)

Balance Sheets

v3.6.0.2
Balance Sheets - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 45,161,403 $ 5,335,913
Trade accounts receivable, net 5,154,996 3,731,998
Inventory 146,815 119,733
Prepaid expenses and other current assets 349,550 191,502
Total current assets 50,812,764 9,379,146
Property and equipment, net 807,086 1,026,784
Goodwill 1,249,956 1,249,956
Customer relationships, net 2,822,918 3,137,918
Intangible assets, net 286,719 345,069
Other assets 84,060 121,541
Total assets 56,063,503 15,260,414
Current liabilities:    
Accounts payable 3,949,005 2,873,471
Accrued bonus 1,748,551 1,335,500
Accrued liabilities 1,072,242 660,987
Deferred purchase price 1,000,000 1,000,000
Current portion of long-term notes payable 1,388,563 1,625,030
Current portion of deferred rent obligation under operating lease 81,332 81,332
Total current liabilities 9,239,693 7,576,320
Preferred stock warrant liability   709,504
Long-term notes payable 1,333,333 2,721,865
Deferred tax liability 6,166  
Deferred rent obligation under operating lease 451,909 558,641
Total liabilities 11,031,101 11,566,330
Stockholders’ equity (deficit):    
Common shares, par value $0.0001, 200,000,000 and 80,000,000 shares authorized at December 31, 2016 and December 31, 2015, respectively; 9,275,062 and 665,842 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively 928 1,094,375
Additional paid in capital 88,582,470  
Accumulated deficit (43,550,996) (46,475,746)
Total stockholders’ equity (deficit) 45,032,402 (39,412,822)
Commitments and contingencies (note 12)
Total liabilities, preferred redeemable convertible stock and stockholders’ equity (deficit) $ 56,063,503 15,260,414
Series E Preferred Redeemable Convertible Stock    
Preferred redeemable convertible stock:    
Preferred redeemable convertible stock, value   16,274,823
Series F Preferred Redeemable Convertible Stock    
Preferred redeemable convertible stock:    
Preferred redeemable convertible stock, value   10,517,081
Series G Preferred Redeemable Convertible Stock    
Preferred redeemable convertible stock:    
Preferred redeemable convertible stock, value   16,315,002
Series A Preferred Convertible Stock    
Stockholders’ equity (deficit):    
Preferred convertible stock, value   976,000
Series B Preferred Convertible Stock    
Stockholders’ equity (deficit):    
Preferred convertible stock, value   2,457,253
Series C Preferred Convertible Stock    
Stockholders’ equity (deficit):    
Preferred convertible stock, value   549,010
Series D Preferred Convertible Stock    
Stockholders’ equity (deficit):    
Preferred convertible stock, value   $ 1,986,286