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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 $)
Sep. 30, 2012
Dec. 31, 2011
Dec. 31, 2010
Assets      
Cash and cash equivalents $ 2,477,356 $ 766,602 $ 294,838
Accounts receivable, net of allowance of $99,580 and $47,595, respectively 726,063 847,234 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 80,682 103,478 5,794
Other current assets 20,927 0 0
Total current assets 3,305,028 2,640,107 2,145,464
Restricted cash 264,832 0 0
Property and equipment, net 104,762 129,944 21,884
Intangible assets, net 1,388,531 1,236,996 494,161
Accounts receivable, secured-related party, net of allowance of $502,315 and $0, respectively 270,478 0 0
Other assets 6,559 6,559 6,559
Total assets 5,340,190 4,013,606 2,668,068
Liabilities and Stockholders' Equity (Deficiency)      
Accounts payable 1,435,595 1,094,029 313,326
Accrued expenses 973,500 167,528 266,116
Deferred revenue 1,107,274 835,694 890,204
Convertible notes payable, current portion - related parties 600,000 0 0
Notes payable, current portion 22,000 6,383 30,871
Loan payable to stockholder 491 0 0
Deferred rent, current portion 5,766 4,291 2,324
Total current liabilities 4,144,626 2,107,925 1,502,841
Line of credit 215,754 233,215 243,499
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 16,582 21,274 25,565
Total liabilities 4,576,962 2,571,182 1,987,056
Commitments and contingencies - See note 7         
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:      
Series C preferred stock, $0.001 par value; 11,411,400 shares designated, none and 11,307,450 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 and 368,411 shares issued and outstanding, respectively 0 368 0
Common stock, $0.001 par value; 120,000,000 shares authorized, 35,275,204 and 11,837,930 and 21,000,000 issued and outstanding, respectively 53,165 11,838 21,000
Additional paid-in capital 11,212,809 3,275,296 3,850,809
Accumulated deficit (10,502,746) (5,326,370) (3,190,797)
Total stockholders' equity 763,228 (2,027,561) 681,012
Total liabilities and stockholders' equity $ 5,340,190 $ 4,013,606 $ 2,668,068