Quarterly report pursuant to Section 13 or 15(d)

3. Balance Sheet Information

v3.3.1.900
3. Balance Sheet Information
3 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Information

Balance sheet information is as follows:

 

    December 31,     September 30,  
    2015     2015  
Receivables, current, net:                
Accounts receivable, current   $ 7,679,919     $ 9,007,127  
Less: Allowance for doubtful accounts     (766,488 )     (763,135 )
    $ 6,913,431     $ 8,243,992  
                 
Receivables, long term, net:                
Accounts receivable, long term   $ 344,572     $ 344,572  
Less: Allowance for doubtful accounts     (344,572 )     (344,572 )
    $     $  
                 
Total receivables, net:                
Gross receivables   $ 8,024,491     $ 9,351,699  
Less: Allowance for doubtful accounts     (1,111,060 )     (1,107,707 )
    $ 6,913,431     $ 8,243,992  
                 
Components of allowance for doubtful accounts are as follows:                
Allowance for dilution and fees on amounts due from billing aggregators   $ 1,063,617     $ 1,063,617  
Allowance for customer refunds     (733 )     1,715  
Allowance for other trade receivables     48,176       42,375  
    $ 1,111,060     $ 1,107,707  
                 
Inventory                
Raw materials   $ 6,726,437     $ 6,715,298  
Work in progress     833,730       836,837  
Finished goods     5,995,439       6,185,741  
      13,555,606       13,737,876  
Less: Obsolescence reserve     (434,375 )     (402,278 )
    $ 13,121,231     $ 13,335,598  
                 
Property and equipment, net:                
Land and improvements   $ 688,000     $ 687,999  
Building and improvements     4,202,000       4,202,000  
Transportation equipment     77,419       77,419  
Machinery and equipment     7,734,360       7,676,561  
Furnishings and fixtures     211,700       211,701  
Office, computer equipment and other     251,313       244,674  
      13,164,792       13,100,354  
Less: Accumulated depreciation     (1,076,353 )     (618,453 )
    $ 12,088,439     $ 12,481,901  
                 
Intangible assets, net:                
Domain name and marketing related intangibles   $ 18,957     $ 18,957  
Website and technology related intangibles     25,300       25,300  
Purchased software     1,500,000       1,500,000  
      1,544,257       1,544,257  
Less: Accumulated amortization     (85,258 )     (27,327 )
    $ 1,458,999     $ 1,516,930  
                 
Accrued liabilities:                
Accrued payroll and bonuses   $ 734,534     $ 731,782  
Deferred revenue     243,082       243,082  
Accrued software costs     1,500,000       1,500,000  
Accrued expenses - other     475,224       1,186,085