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VirtualScopics, Inc. Reports Second Quarter and Six Months 2014 Financial Results; Awards Outstanding and Bookings Reflect a Two-Fold Increase Over 2013 First Six Months
Date:8/14/2014

pan class="prnews_span">$
5,573,576$
7,330,630
Accounts receivable, net

1,861,7351,725,070Prepaid expenses and other current assets

371,341397,699Total current assets

7,806,6529,453,399Patents, net

1,271,5861,334,420Property and equipment, net

261,608221,700Total assets

$
9,339,846
$
,009,519
Liabilities and Stockholders' EquityCurrent liabilitiesAccounts payable and accrued expenses

$
840,540
$
846,071
Accrued payroll

685,595837,611Unearned revenue

588,187745,028Dividends payable

335,333293,333Total current liabilities

2,449,6552,722,043Commitments and ContingenciesStockholders' EquityConvertible preferred stock, $0.001 par value; 1,000,000 and 15,000,000 shares authorized at June 30, 2014 and December 31, 2013, respectively;Series C-1 3,000 shares authorized; issued and outstanding, 3,000 shares at June 30, 2014 and December 31, 2013; liquidation preference $1,000 per share

33Series B 6,000 shares authorized; issued and outstanding, 600 shares at June 30, 2014 and December 31, 2013; liquidation preference $1,000 per share

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SOURCE VirtualScopics, Inc.
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