Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.10.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2018
Sep. 30, 2017
Current Assets:    
Cash $ 5,577,440 $ 3,277,602
Accounts receivable, net 3,668,673 3,555,350
Inventory, net 2,653,887 2,767,924
Prepaid expenses and other current assets 958,481 697,097
TOTAL CURRENT ASSETS 12,858,481 10,297,973
PLANT AND EQUIPMENT    
Equipment, furniture and fixtures 4,067,448 4,067,896
Leasehold improvements 287,686 287,686
Less: accumulated depreciation and amortization (3,889,345) (3,800,043)
Plant and equipment, net 465,789 555,539
Other trade receivables (Notes 4)   7,837,500
Other assets 527,249 156,431
Deferred income taxes 12,194,000 8,827,000
Intangible assets, net 20,546,544 20,752,991
Goodwill 6,878,932 6,878,932
TOTAL ASSETS 53,470,995 55,306,366
Current Liabilities:    
Accounts payable 3,461,641 2,685,718
Accrued expenses and other current liabilities 1,713,143 1,441,359
Credit agreement, short-term portion (Note 7) 6,428,567  
Unearned revenue 760,981 1,014,517
Accrued compensation 355,800 345,987
TOTAL CURRENT LIABILITIES 12,720,132 5,487,581
LONG-TERM LIABILITIES    
Credit agreement, long-term portion (Note 7) 4,274,428  
Residual royalty agreement (Note 7) 517,314  
Other liabilities (Note 4)   1,233,750
Deferred rent 89,093 131,830
TOTAL LIABILITIES 17,600,967 6,853,161
Commitments and contingencies (Note 10)
STOCKHOLDERS' EQUITY    
Common stock 569,281 553,922
Additional paid-in-capital 93,971,011 90,550,669
Accumulated other comprehensive loss (581,519) (581,519)
Accumulated deficit (50,282,140) (34,263,262)
Treasury stock, at cost (7,806,605) (7,806,605)
TOTAL STOCKHOLDERS' EQUITY 35,870,028 48,453,205
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 53,470,995 $ 55,306,366