| Balance Sheet Detail Information |
Balance Sheet information is as
follows:
| |
|
December 31, |
|
|
September 30, |
|
| |
|
2016 |
|
|
2016 |
|
| |
|
(Restated) |
|
|
|
|
| Trade receivables, current, net: |
|
|
|
|
|
|
|
|
| Accounts receivable, current |
|
$ |
8,403,667 |
|
|
$ |
8,419,626 |
|
| Less: Reserve for doubtful
accounts |
|
|
(816,928 |
) |
|
|
(816,862 |
) |
| |
|
$ |
7,586,739 |
|
|
$ |
7,602,764 |
|
| Trade receivables , long term, net: |
|
|
|
|
|
|
|
|
| Accounts receivable, long term |
|
$ |
344,572 |
|
|
$ |
344,572 |
|
| Less: Reserve for doubtful
accounts |
|
|
(344,572 |
) |
|
|
(344,572 |
) |
| |
|
$ |
– |
|
|
$ |
– |
|
| Total trade receivables, net: |
|
|
|
|
|
|
|
|
| Gross trade and other receivables |
|
$ |
8,748,239 |
|
|
$ |
8,764,198 |
|
| Less: Reserve for doubtful
accounts |
|
|
(1,161,500 |
) |
|
|
(1,161,434 |
) |
| |
|
$ |
7,586,739 |
|
|
$ |
7,602,764 |
|
| |
|
|
|
|
|
|
|
|
| Components of reserve for doubtful accounts are as follows: |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Reserve for dilution and
fees on amounts due from billing aggregators |
|
$ |
1,063,617 |
|
|
$ |
1,063,617 |
|
| Reserve for customer refunds |
|
|
1,230 |
|
|
|
1,230 |
|
| Reserve for other trade
receivables |
|
|
96,653 |
|
|
|
96,587 |
|
| |
|
$ |
1,161,500 |
|
|
$ |
1,161,434 |
|
| |
|
|
|
|
|
|
|
|
| Inventory |
|
|
|
|
|
|
|
|
| Raw materials |
|
$ |
6,314,767 |
|
|
$ |
6,664,286 |
|
| Work in progress |
|
|
932,267 |
|
|
|
773,238 |
|
| Finished goods, includes
merchandise |
|
|
27,783,437 |
|
|
|
4,721,371 |
|
| |
|
|
35,030,471 |
|
|
|
12,158,895 |
|
| Less: Inventory reserves |
|
|
(2,582,345 |
) |
|
|
(1,105,810 |
) |
| |
|
$ |
32,448,126 |
|
|
$ |
11,053,085 |
|
| |
|
|
|
|
|
|
|
|
| Property and equipment, net: |
|
|
|
|
|
|
|
|
| Land and improvements |
|
$ |
– |
|
|
$ |
0 |
|
| Building and improvements |
|
|
6,780,959 |
|
|
|
6,780,959 |
|
| Transportation equipment |
|
|
77,419 |
|
|
|
77,419 |
|
| Machinery and equipment |
|
|
14,788,368 |
|
|
|
10,211,565 |
|
| Furnishings and fixtures |
|
|
1,817,153 |
|
|
|
192,701 |
|
| Office, computer equipment
and other |
|
|
965,903 |
|
|
|
216,793 |
|
| |
|
|
24,429,802 |
|
|
|
17,479,437 |
|
| Less: Accumulated depreciation |
|
|
(4,335,452 |
) |
|
|
(3,464,936 |
) |
| |
|
$ |
20,094,350 |
|
|
$ |
14,014,501 |
|
| |
|
|
|
|
|
|
|
|
| Intangible assets, net: |
|
|
|
|
|
|
|
|
| Domain name and marketing
related intangibles |
|
$ |
18,957 |
|
|
$ |
18,957 |
|
| Website and software related
intangibles |
|
|
1,401,078 |
|
|
|
– |
|
| Customer Relationships intangible |
|
|
439,039 |
|
|
|
439,039 |
|
| Purchased software |
|
|
1,500,000 |
|
|
|
1,500,000 |
|
| |
|
|
3,359,074 |
|
|
|
1,957,996 |
|
| Less: Accumulated
amortization |
|
|
(329,703 |
) |
|
|
(268,206 |
) |
| |
|
$ |
3,029,371 |
|
|
$ |
1,689,790 |
|
| |
|
|
|
|
|
|
|
|
| Accrued liabilities: |
|
|
|
|
|
|
|
|
| Accrued payroll and bonuses |
|
$ |
756,539 |
|
|
$ |
685,410 |
|
| Accrued software costs |
|
|
– |
|
|
|
584,500 |
|
| Accrued fee due Kingston
Diversified Holdings LLC |
|
|
– |
|
|
|
2,800,000 |
|
| Accrued expenses - other |
|
|
6,033,279 |
|
|
|
2,326,862 |
|
| |
|
$ |
6,789,818 |
|
|
$ |
6,396,772 |
|
|