Quarterly report pursuant to Section 13 or 15(d)

4. Balance Sheet Detail Information

v3.8.0.1
4. Balance Sheet Detail Information
3 Months Ended
Dec. 31, 2016
Disclosure Text Block Supplement [Abstract]  
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