| Balance Sheet Information |
Balance sheet information is as
follows:
| |
|
December 31, |
|
|
September 30, |
|
| |
|
2015 |
|
|
2015 |
|
| Receivables, current, net: |
|
|
|
|
|
|
|
|
| Accounts receivable,
current |
|
$ |
7,679,919 |
|
|
$ |
9,007,127 |
|
| Less:
Allowance for doubtful accounts |
|
|
(766,488 |
) |
|
|
(763,135 |
) |
| |
|
$ |
6,913,431 |
|
|
$ |
8,243,992 |
|
| |
|
|
|
|
|
|
|
|
| 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 |
|
$ |
8,024,491 |
|
|
$ |
9,351,699 |
|
| Less:
Allowance for doubtful accounts |
|
|
(1,111,060 |
) |
|
|
(1,107,707 |
) |
| |
|
$ |
6,913,431 |
|
|
$ |
8,243,992 |
|
| |
|
|
|
|
|
|
|
|
| Components of allowance for doubtful accounts are as follows: |
|
|
|
|
|
|
|
|
| Allowance for dilution and
fees on amounts due from billing aggregators |
|
$ |
1,063,617 |
|
|
$ |
1,063,617 |
|
| Allowance for customer refunds |
|
|
(733 |
) |
|
|
1,715 |
|
| Allowance
for other trade receivables |
|
|
48,176 |
|
|
|
42,375 |
|
| |
|
$ |
1,111,060 |
|
|
$ |
1,107,707 |
|
| |
|
|
|
|
|
|
|
|
| Inventory |
|
|
|
|
|
|
|
|
| Raw materials |
|
$ |
6,726,437 |
|
|
$ |
6,715,298 |
|
| Work in progress |
|
|
833,730 |
|
|
|
836,837 |
|
| Finished
goods |
|
|
5,995,439 |
|
|
|
6,185,741 |
|
| |
|
|
13,555,606 |
|
|
|
13,737,876 |
|
| Less: Obsolescence reserve |
|
|
(434,375 |
) |
|
|
(402,278 |
) |
| |
|
$ |
13,121,231 |
|
|
$ |
13,335,598 |
|
| |
|
|
|
|
|
|
|
|
| Property and equipment, net: |
|
|
|
|
|
|
|
|
| Land and improvements |
|
$ |
688,000 |
|
|
$ |
687,999 |
|
| Building and improvements |
|
|
4,202,000 |
|
|
|
4,202,000 |
|
| Transportation equipment |
|
|
77,419 |
|
|
|
77,419 |
|
| Machinery and equipment |
|
|
7,734,360 |
|
|
|
7,676,561 |
|
| Furnishings and fixtures |
|
|
211,700 |
|
|
|
211,701 |
|
| Office,
computer equipment and other |
|
|
251,313 |
|
|
|
244,674 |
|
| |
|
|
13,164,792 |
|
|
|
13,100,354 |
|
| Less: Accumulated depreciation |
|
|
(1,076,353 |
) |
|
|
(618,453 |
) |
| |
|
$ |
12,088,439 |
|
|
$ |
12,481,901 |
|
| |
|
|
|
|
|
|
|
|
| Intangible assets, net: |
|
|
|
|
|
|
|
|
| Domain name and marketing
related intangibles |
|
$ |
18,957 |
|
|
$ |
18,957 |
|
| Website and technology related
intangibles |
|
|
25,300 |
|
|
|
25,300 |
|
| Purchased
software |
|
|
1,500,000 |
|
|
|
1,500,000 |
|
| |
|
|
1,544,257 |
|
|
|
1,544,257 |
|
| Less: Accumulated amortization |
|
|
(85,258 |
) |
|
|
(27,327 |
) |
| |
|
$ |
1,458,999 |
|
|
$ |
1,516,930 |
|
| |
|
|
|
|
|
|
|
|
| Accrued liabilities: |
|
|
|
|
|
|
|
|
| Accrued payroll and bonuses |
|
$ |
734,534 |
|
|
$ |
731,782 |
|
| Deferred revenue |
|
|
243,082 |
|
|
|
243,082 |
|
| Accrued software costs |
|
|
1,500,000 |
|
|
|
1,500,000 |
|
| Accrued
expenses - other |
|
|
475,224 |
|
|
|
1,186,085 |
|
| |
|