Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows from Operating Activities    
Net Loss $ (4,181,812) $ (3,775,739)
Non-Cash Adjustments    
Depreciation and Amortization 239,830 169,188
Amortization of Software Development Costs in cost of sales products 71,613 71,612
Stock Based Option Compensation Expense 210,074 173,816
Amortization of Term Debt Discount 134,192 121,206
Amortization of Debt Issuance Costs 11,453 11,581
Common Stock and Warrants Issued for Services 0 38,925
(Gain) Loss on Derivative Valuation (22,560) (101,666)
(Increase) Decrease in Operating Assets    
Accounts Receivable (217,261) 269,233
Inventories (69,614) (57,026)
Vendor Prepayments (68,111) 33,337
Prepaid Expenses and Other Assets 246,687 169,204
Increase (Decrease) in Operating Liabilities    
Accounts Payable (82,323) (469,658)
Accrued Expense 49,262 32,119
Customer Deposits 42,123 24,530
Unearned Revenue (211,399) 44,994
Income and Other Taxes Payable (1,169) 8,122
Accrued Compensation (25,110) 0
Accrued Interest 40,926 23,647
Net Cash Flows Used in Operating Activities (3,833,199) (3,212,575)
Cash Flows from Investing Activities    
Purchases of Fixed Assets (262,774) (411,440)
Investments in Patents and Trademarks (42,315) (30,709)
Net Cash Used in Investing Activities (305,089) (442,149)
Cash Flows from Financing Activities    
Repayment of Long-Term Debt and Notes Payable 0 (8,479)
Net Cash Flows Used by Financing Activities 0 (8,479)
Net Decrease in Cash and Cash Equivalents (4,138,288) (3,663,203)
Cash and Cash Equivalents — Beginning of Period 14,533,944 11,877,058
Cash and Cash Equivalents — End of Period 10,395,656 8,213,855
Supplemental Disclosures    
Interest Paid in Cash 10,690 7,431
Conversion of Long-Term Debt and Accrued Interest 1,197,341 22,500
Receivable from Stock Option Exercise $ 14,820 $ 0