Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS (Unaudited)

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BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 1,895,372 $ 2,167,928
Accounts receivable, net 1,157,387 1,298,029
Prepaid expenses and other current assets 663,556 603,340
Note receivable - current 2,630 0
Total current assets 3,718,945 4,069,297
Property and equipment, net of accumulated depreciation and amortization of $407,302 and $379,044 27,198 42,039
Other assets 6,281 6,281
Total assets 3,752,424 4,117,617
Current liabilities:    
Accounts payable 48,974 64,599
Commissions payable 853,340 959,052
Deferred revenue 615,035 581,102
Accrued payroll and related liabilities 206,475 261,202
Other accrued liabilities 396,081 74,472
Total liabilities 2,119,905 1,940,427
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, 2016 and 2015, respectively 128,443 128,443
Additional paid-in capital 14,631,362 14,622,352
Accumulated deficit (12,197,075) (11,643,394)
Treasury stock, 1,642,616 shares at cost at December 31, 2016 and 2015 (930,211) (930,211)
Total stockholders' equity 1,632,519 2,177,190
Total liabilities and stockholders' equity $ 3,752,424 $ 4,117,617