Quarterly report pursuant to Section 13 or 15(d)

3. Prepaid Expenses and Other Current Assets

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3. Prepaid Expenses and Other Current Assets
6 Months Ended
Jun. 30, 2014
Notes to Financial Statements  
3. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following at June 30, 2014 and December 31, 2013:

 

 

  June 30, 2014   December 31, 2013
  (unaudited)    
Prepaid insurance  $                      163,504    $                     63,737
Due from purchaser of accounts receivable                          278,691                         236,232   
Escrowed funds – senior lenders                                     -   2,000,000
Other prepaid expenses                          893,902                         404,818
Total  $                   1,336,097    $                2,704,787