Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2017
Dec. 31, 2016
Current Assets    
Cash $ 1,421,711 $ 131,190
Accounts receivable, net of allowance of $4,801 and $7,001 at September 30, 2017 and December 31, 2016, respectively 216,241 179,637
Accounts receivable - related parties, net of allowance of $393,000 and $387,000 at September 30, 2017 and December 31, 2016, respectively 649,924 493,531
Advances and loans to employees 215,757 232,057
Inventory 1,314,698 1,186,189
Prepaid expenses and other current assets, net 169,574 105,429
Current assets of discontinued operations 172,670 208,154
Total Current Assets 4,160,575 2,536,187
Property and equipment, net 4,337,564 3,971,733
Prepaid foreign taxes, net 255,634 337,917
Investment - related parties 29,981 42,688
Deposits 61,284 61,284
Total Assets 8,845,038 6,949,809
Current Liabilities    
Accounts payable 194,525 349,180
Accrued expenses, current portion 1,034,373 1,691,743
Deferred revenue 1,514,786 1,884,606
Loans payable, net, current portion 202,476 31,312
Debt obligations 22,500 162,500
Other liabilities, current portion 16,421 15,776
Current liabilities of discontinued operations 44,104
Total Current Liabilities 2,985,081 4,179,221
Accrued expenses, non-current portion 278,272
Other liabilities, non-current portion 344,127
Loans payable, net, non-current portion 769,972
Total Liabilities 4,033,325 4,523,348
Commitments and Contingencies
Series B convertible redeemable preferred stock, par value $0.01 per share, 902,670 shares authorized, 761,933 and 0 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively. 7,619,643
Stockholders' (Deficiency) Equity    
Common stock, par value $0.01 per share; 80,000,000 shares authorized; 43,036,709 and 42,915,379 shares issued and 43,032,298 and 42,910,962 shares outstanding as of September 30, 2017 and December 31, 2016, respectively. 430,366 429,153
Additional paid-in capital 80,741,404 80,102,189
Accumulated other comprehensive loss (10,721,429) (10,459,242)
Accumulated deficit (73,244,201) (67,631,569)
Treasury stock, at cost, 4,411 shares at September 30, 2017 and December 31, 2016 (14,070) (14,070)
Total Stockholders' (Deficiency) Equity (2,807,930) 2,426,461
Total Liabilities and Stockholders' (Deficiency) Equity 8,845,038 6,949,809
Series A Convertible Preferred Stock [Member]    
Stockholders' (Deficiency) Equity    
Preferred stock, value