Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets (Current Period Unaudited)

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Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 961,172 $ 1,039,442
Accounts receivable 967,887 668,712
Prepaid expenses and other current assets 88,172 500,163
Total current assets 2,017,231 2,208,317
Right-of-use operating lease asset 101,291 149,762
Property and equipment, net of accumulated depreciation and amortization of $303,244 and $300,258 15,492 9,681
Contract assets - non-current 13,918 0
Other assets 6,281 6,281
Total assets 2,154,213 2,374,041
Current liabilities    
Accounts payable 175,642 216,227
Contract liabilities 64,344 464,223
Accrued payroll and related liabilities 250,571 219,350
Commissions payable 103,946 108,058
Note payable - current 149,002
Operating lease liability - current 98,956 103,955
Other accrued liabilities 7,656 54,257
Interest payable 875
Total current liabilities 850,992 1,166,070
Note payable - non-current 300,998
Operating lease liability - non-current 45,595
Total liabilities 1,151,990 1,211,665
Stockholders' equity    
Common stock, $0.01 par value, 30,000,000 shares authorized, 12,854,376 shares issued, 11,211,760 shares outstanding as of June 30, 2020, and December 31, 2019 128,543 128,543
Additional paid-in capital 14,683,743 14,682,937
Accumulated deficit (12,879,852) (12,718,893)
Treasury stock, 1,642,616 shares at cost at June 30, 2020, and December 31, 2019 (930,211) (930,211)
Total stockholders' equity 1,002,223 1,162,376
Total liabilities and stockholders' equity $ 2,154,213 $ 2,374,041