| Balance Sheet Information |
Balance sheet information is
as follows:
| |
|
June 30, |
|
|
September 30, |
|
| |
|
2016 |
|
|
2015 |
|
| Receivables, current, net: |
|
|
|
|
|
|
|
|
| Accounts receivable, current |
|
$ |
9,433,871 |
|
|
$ |
9,007,127 |
|
| Less: Allowance for doubtful
accounts |
|
|
(793,208 |
) |
|
|
(763,135 |
) |
| |
|
$ |
8,640,663 |
|
|
$ |
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 |
|
$ |
9,778,443 |
|
|
$ |
9,351,699 |
|
| Less: Allowance for doubtful
accounts |
|
|
(1,137,780 |
) |
|
|
(1,107,707 |
) |
| |
|
$ |
8,640,663 |
|
|
$ |
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 |
|
|
1,225 |
|
|
|
1,715 |
|
| Allowance for other trade
receivables |
|
|
72,938 |
|
|
|
42,375 |
|
| |
|
$ |
1,137,780 |
|
|
$ |
1,107,707 |
|
| |
|
|
|
|
|
|
|
|
| Inventory |
|
|
|
|
|
|
|
|
| Raw materials |
|
$ |
6,543,795 |
|
|
$ |
6,715,298 |
|
| Work in progress |
|
|
900,054 |
|
|
|
836,837 |
|
| Finished goods |
|
|
4,425,684 |
|
|
|
6,185,741 |
|
| |
|
|
11,869,533 |
|
|
|
13,737,876 |
|
| Less: Obsolescence reserve |
|
|
(1,105,810 |
) |
|
|
(402,278 |
) |
| |
|
$ |
10,763,723 |
|
|
$ |
13,335,598 |
|
| |
|
|
|
|
|
|
|
|
| Property and equipment, net: |
|
|
|
|
|
|
|
|
| Land and improvements |
|
$ |
– |
|
|
$ |
687,999 |
|
| Building and improvements |
|
|
5,699,489 |
|
|
|
4,202,000 |
|
| Transportation equipment |
|
|
77,419 |
|
|
|
77,419 |
|
| Machinery and equipment |
|
|
9,483,125 |
|
|
|
7,676,561 |
|
| Furnishings and fixtures |
|
|
192,757 |
|
|
|
211,701 |
|
| Office, computer equipment
and other |
|
|
216,793 |
|
|
|
244,674 |
|
| |
|
|
15,669,583 |
|
|
|
13,100,354 |
|
| Less: Accumulated depreciation |
|
|
(2,018,437 |
) |
|
|
(618,453 |
) |
| |
|
$ |
13,651,146 |
|
|
$ |
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 |
|
|
(201,119 |
) |
|
|
(27,327 |
) |
| |
|
$ |
1,343,138 |
|
|
$ |
1,516,930 |
|
| |
|
|
|
|
|
|
|
|
| Accrued liabilities: |
|
|
|
|
|
|
|
|
| Accrued payroll and bonuses |
|
$ |
681,110 |
|
|
$ |
731,782 |
|
| Accrued software costs |
|
|
1,500,000 |
|
|
|
1,500,000 |
|
| Accrued expenses - other |
|
|
1,814,192 |
|
|
|
1,429,167 |
|
| |
|
$ |
3,995,302 |
|
|
$ |
3,660,949 |
|
|