Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS (Unaudited)

v3.8.0.1
BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents $ 2,236,937 $ 2,731,510
Accounts receivable, net 653,836 610,182
Prepaid expenses and other current assets 222,359 368,626
Contract assets 32,626 5,532
Note receivable, current 0 1,719
Total current assets 3,145,758 3,717,569
Property and equipment, net of accumulated depreciation and amortization of $287,613 and $284,667 10,940 11,133
Other assets 6,281 6,281
Total assets 3,162,979 3,734,983
Current liabilities:    
Accounts payable 76,401 47,658
Commissions payable 659,805 712,829
Accrued payroll and related liabilities 247,415 275,582
Contract liabilities 238,042 387,002
Other accrued liabilities 73,457 411,487
Franchise taxes payable 822 6,400
Total liabilities 1,295,942 1,840,958
Stockholders' equity:    
Common stock, par value $0.01, 30,000,000 shares authorized, 12,844,376 shares issued, 11,201,760 shares outstanding as of March 31, 2018, and December 31, 2017 128,443 128,443
Additional paid-in capital 14,652,694 14,646,406
Accumulated deficit (11,983,889) (11,950,613)
Treasury stock, 1,642,616 shares at cost at March 31, 2018 and December 31, 2017 (930,211) (930,211)
Total stockholders' equity 1,867,037 1,894,025
Total liabilities and stockholders' equity $ 3,162,979 $ 3,734,983