Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Current Period Unaudited)

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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 74,422,000 $ 44,816,000
Accounts receivable 297,000 107,000
Inventories, net 5,287,000 3,760,000
Other current assets 1,643,000 930,000
Total current assets 81,649,000 49,613,000
Property and equipment, net 702,000 476,000
Goodwill 1,764,000 1,764,000
Restricted cash 3,591,000 315,000
Other assets 598,000 372,000
Total assets 88,304,000 52,540,000
Current liabilities:    
Accounts payable 3,082,000 2,232,000
Income taxes payable 323,000 268,000
Accrued distributor commissions 14,338,000 8,853,000
Other accrued expenses 10,751,000 6,743,000
Deferred revenue 8,151,000 2,687,000
Deferred tax liability 65,000 65,000
Amounts held in distributor eWallets 8,533,000 2,064,000
Other current liabilities 1,696,000 1,513,000
Total current liabilities 46,939,000 24,425,000
Long-term incentive 1,524,000 1,665,000
Total liabilities 48,463,000 $ 26,090,000
Commitments and contingencies    
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding 0 $ 0
Common stock, $0.001 par value; 50,000,000 shares authorized; 12,891,317 and 12,979,414 shares issued at December 31, 2014 and June 30, 2015, respectively 13,000 13,000
Additional paid-in capital 85,928,000 85,750,000
Accumulated deficit (36,549,000) (54,799,000)
Accumulated other comprehensive income 135,000 62,000
Treasury stock, at cost; 384,220 and 583,476 shares at December 31, 2014 and June 30, 2015, respectively (9,686,000) (4,576,000)
Total stockholders’ equity 39,841,000 26,450,000
Total liabilities and stockholders’ equity $ 88,304,000 $ 52,540,000