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General form of registration statement for all companies including face-amount certificate companies

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Jun. 30, 2012
Dec. 31, 2011
Dec. 31, 2010
Assets      
Cash and cash equivalents $ 265,570 $ 766,602 $ 294,838
Restricted cash 105,932 0 0
Accounts receivable, net of allowance of $61,500 and $47,595, respectively 1,094,448 847,234 1,064,663
Accounts receivable, secured - related party 0 772,793 780,169
Note receivable from officer, secured - related party 0 150,000 0
Prepaid expenses and other current assets 116,561 103,478 5,794
Total current assets 1,582,511 2,640,107 2,145,464
Property and equipment, net 112,201 129,944 21,884
Intangible assets, net 1,372,524 1,236,996 494,161
Debt issuance costs, net 180,908 0 0
Accounts receivable, secured-related party, net of allowance of $309,117 and $0, respectively 463,676 0 0
Other assets 6,559 6,559 6,559
Total assets 3,718,379 4,013,606 2,668,068
Liabilities and Stockholders' Equity (Deficiency)      
Accounts payable 1,634,995 1,094,029 313,326
Accrued expenses 687,240 167,528 266,116
Deferred revenue 932,366 835,694 890,204
Convertible notes payable, current portion (includes $300,000 to related parties) 2,055,825 0 0
Notes payable, current portion 0 6,383 30,871
Loan payable to stockholder 491 0 0
Deferred rent, current portion 5,274 4,291 2,324
Total current liabilities 5,316,191 2,107,925 1,502,841
Line of credit 222,703 233,215 243,499
Loans payable (includes $50,000 to related parties) 0 200,000 200,000
Convertible notes payable (includes $50,000 to related parties) 200,000 0 0
Notes payable 0 8,768 15,151
Deferred rent 18,146 21,274 25,565
Total liabilities 5,757,040 2,571,182 1,987,056
Commitments and contingencies         
Temporary equity:      
Series A preferred stock, $0.001 par value; 850,500 shares designated, none and 850,395 shares issued and outstanding, respectively 0 809,900 0
Series D preferred stock, $0.001 par value; 3,700,000 shares designated, none and 1,176,750 shares issued and outstanding, respectively (liquidation value of $1,176,750) 0 1,109,268 0
Series E preferred stock, $0.001 par value; 2,000,000 shares designated, none and 1,700,000 shares issued and outstanding, respectively (liquidation value of $1,700,000) 0 1,550,817 0
Total temporary equity 0 3,469,985 0
Stockholders' equity:      
Preferred stock, $0.001 par value; 10,000,000 shares authorized 0 0 0
Series C preferred stock, $0.001 par value; 11,411,400 shares designated, none,11,307,450 and none shares issued and outstanding, respectively (liquidation value of $11,307) 0 11,307 0
Series B preferred stock, $0.001 par value; 368,421 shares designated, none, 368,411 and none shares issued and outstanding, respectively 0 368 0
Common stock, $0.001 par value; 120,000,000 shares authorized, 35,275,204, 11,837,930 and 21,000,000 issued and outstanding, respectively 35,295 11,838 21,000
Additional paid-in capital 6,845,754 3,275,296 3,850,809
Accumulated deficit (8,919,710) (5,326,370) (3,190,797)
Total stockholders' equity (2,038,661) (2,027,561) 681,012
Total liabilities and stockholders' equity $ 3,718,379 $ 4,013,606 $ 2,668,068