Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS (Unaudited)

v3.3.1.900
BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 2,167,928 $ 2,450,006
Accounts receivable, net 1,298,029 970,621
Prepaid expenses and other current assets $ 603,340 759,982
Note receivable - current 3,896
Total current assets $ 4,069,297 4,184,505
Property and equipment, net of accumulated depreciation and amortization of $349,178 and $317,801 $ 42,039 53,675
Note receivable - long-term 5,102
Other assets $ 6,281 6,281
Total assets 4,117,617 4,249,563
Current liabilities:    
Accounts payable 64,599 32,327
Commissions payable 959,052 1,017,047
Deferred revenue 581,102 737,994
Accrued payroll and related liabilities 261,202 255,703
Other accrued liabilities 74,472 116,097
Total liabilities 1,940,427 2,159,168
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 December 31, 2015 and 2014, respectively 128,443 128,443
Additional paid-in capital 14,622,352 14,613,887
Accumulated deficit (11,643,394) (11,721,724)
Treasury stock, 1,642,616 shares at cost at December 31, 2015 and 2014 (930,211) (930,211)
Total stockholders' equity 2,177,190 2,090,395
Total liabilities and stockholders' equity $ 4,117,617 $ 4,249,563