Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS (Unaudited)

v3.19.1
BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 1,803,200 $ 1,963,956
Accounts receivable, net 758,494 652,839
Prepaid expenses and other current assets 203,929 393,533
Total current assets 2,765,623 3,010,328
Right-of-use operating lease asset 219,943 0
Property and equipment, net of accumulated depreciation and amortization of $295,790 and $294,424 5,781 7,147
Other assets 6,281 6,281
Total assets 2,997,628 3,023,756
Current liabilities:    
Accounts payable 260,051 25,294
Commissions payable 375,474 508,083
Accrued payroll and related liabilities 229,070 217,751
Contract liabilities 180,724 318,552
Operating lease liability - current 97,425 0
Other accrued liabilities 44,132 81,485
Total current liabilities 1,186,876 1,151,165
Operating lease liability - non-current 124,560 0
Total liabilities 1,311,436 1,151,165
Stockholders' equity:    
Common stock, $0.01 par value, 30,000,000 shares authorized, 12,844,376 shares issued, 11,201,760 shares outstanding as of March 31, 2019, and December 31, 2018 128,443 128,443
Additional paid-in capital 14,680,460 14,676,006
Accumulated deficit (12,192,500) (12,001,647)
Treasury stock, 1,642,616 shares at cost at March 31, 2019 and December 31, 2018 (930,211) (930,211)
Total stockholders' equity 1,686,192 1,872,591
Total liabilities and stockholders' equity $ 2,997,628 $ 3,023,756