Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 13,273 $ 19,459
Accounts receivable, net of allowance for doubtful accounts 8,449 6,621
Other current assets 1,823 2,118
Total current assets 23,545 28,198
FIXED ASSETS, net of accumulated depreciation 5,870 6,069
OTHER ASSETS    
Restricted cash 300 300
Patents and other intangible assets, net of accumulated amortization 1,679 1,727
Investment in joint venture 329 341
Goodwill 12,029 12,029
Other 217 220
Total other assets 14,554 14,617
Total Assets 43,969 48,884
CURRENT LIABILITIES    
Accounts payable and accrued expenses 7,775 7,579
Obligations under capital leases, current portion 106 122
Deferred revenue 630 831
Bank term note, current portion 1,833 1,333
Total current liabilities 10,344 9,865
Obligations under capital leases 251 276
Deferred rent payable and other 309 315
Warrant liability 0 17
Deferred revenue, long-term 622 752
Bank term note 4,146 4,642
Total liabilities 15,672 15,867
STOCKHOLDERS’ EQUITY    
Preferred stock, authorized 9,764 shares, $0.0001 par value, none issued 0 0
Common stock, authorized 100,000 shares, $0.0001 par value, 13,652 and 13,652 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively 1 1
Additional paid-in capital 131,701 131,167
Accumulated (deficit) (103,405) (98,151)
Total Stockholders’ Equity 28,297 33,017
Total Liabilities and Stockholders’ Equity $ 43,969 $ 48,884