| Balance Sheet Information |
Balance sheet information is as
follows:
| |
|
September 30, |
|
|
September 30, |
|
| |
|
2015 |
|
|
2014 |
|
| |
|
|
|
|
|
|
|
|
| Receivables, current, net: |
|
|
|
|
|
|
|
|
| Accounts receivable, current |
|
$ |
9,007,127 |
|
|
$ |
1,611,269 |
|
| Less: Allowance for doubtful
accounts |
|
|
(763,135 |
) |
|
|
(756,686 |
) |
| |
|
$ |
8,243,992 |
|
|
$ |
854,583 |
|
| Receivables, long term, net: |
|
|
|
|
|
|
|
|
| Accounts receivable, long term |
|
$ |
344,572 |
|
|
$ |
344,572 |
|
| Less: Allowance for doubtful
accounts |
|
|
(344,572 |
) |
|
|
(344,572 |
) |
| |
|
$ |
– |
|
|
$ |
– |
|
| Total receivables, net: |
|
|
|
|
|
|
|
|
| Gross receivables |
|
$ |
9,351,699 |
|
|
$ |
1,955,841 |
|
| Less: Allowance for doubtful
accounts |
|
|
(1,107,707 |
) |
|
|
(1,101,258 |
) |
| |
|
$ |
8,243,992 |
|
|
$ |
854,583 |
|
| |
|
|
|
|
|
|
|
|
| Components of allowance for doubtful accounts are as follows: |
|
|
|
|
|
|
|
|
| Allowance for dilution and fees on amounts due
from billing aggregators |
|
$ |
1,063,617 |
|
|
$ |
1,063,633 |
|
| Allowance for customer refunds |
|
|
1,715 |
|
|
|
2,107 |
|
| Allowance for other trade
receivables |
|
|
42,375 |
|
|
|
35,518 |
|
| |
|
$ |
1,107,707 |
|
|
$ |
1,101,258 |
|
| |
|
|
|
|
|
|
|
|
| Inventory |
|
|
|
|
|
|
|
|
| Raw materials |
|
$ |
6,715,298 |
|
|
$ |
– |
|
| Work in progress |
|
|
836,837 |
|
|
|
– |
|
| Finished goods |
|
|
6,185,741 |
|
|
|
4,529,714 |
|
| |
|
|
13,737,876 |
|
|
|
4,529,714 |
|
| Less: Obsolescence reserve |
|
|
(402,278 |
) |
|
|
(252,569 |
) |
| |
|
$ |
13,335,598 |
|
|
$ |
4,277,145 |
|
| |
|
|
|
|
|
|
|
|
| Property and equipment, net: |
|
|
|
|
|
|
|
|
| Land and improvements |
|
$ |
687,999 |
|
|
$ |
– |
|
| Building and improvements |
|
|
4,202,000 |
|
|
|
– |
|
| Transportation equipment |
|
|
77,419 |
|
|
|
– |
|
| Machinery and equipment |
|
|
7,676,561 |
|
|
|
– |
|
| Furnishings and fixtures |
|
|
211,701 |
|
|
|
162,642 |
|
| Office, computer equipment
and other |
|
|
244,674 |
|
|
|
192,063 |
|
| |
|
|
13,100,354 |
|
|
|
354,705 |
|
| Less: Accumulated depreciation |
|
|
(618,453 |
) |
|
|
(201,591 |
) |
| |
|
$ |
12,481,901 |
|
|
$ |
153,114 |
|
| |
|
|
|
|
|
|
|
|
| Intangible assets, net: |
|
|
|
|
|
|
|
|
| Domain name and marketing related intangibles |
|
$ |
18,957 |
|
|
$ |
1,521,015 |
|
| Website and technology related intangibles |
|
|
25,300 |
|
|
|
2,863,509 |
|
| Purchased software |
|
|
1,500,000 |
|
|
|
– |
|
| Covenant not to compete |
|
|
– |
|
|
|
120,000 |
|
| |
|
|
1,544,257 |
|
|
|
4,504,524 |
|
| Less: Accumulated
amortization |
|
|
(27,327 |
) |
|
|
(1,433,314 |
) |
| |
|
$ |
1,516,930 |
|
|
$ |
3,071,210 |
|
| |
|
|
|
|
|
|
|
|
| Accrued liabilities: |
|
|
|
|
|
|
|
|
| Accrued payroll and bonuses |
|
$ |
731,782 |
|
|
$ |
107,224 |
|
| Deferred revenue |
|
|
243,082 |
|
|
|
548,004 |
|
| Accrued software costs |
|
|
1,500,000 |
|
|
|
– |
|
| Accrued expenses - other |
|
|
1,186,085 |
|
|
|
390,802 |
|
| |
|
$ |
3,660,949 |
|
|
$ |
1,046,030 |
|
|