Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current assets    
Cash $ 4,998,148 $ 363
Accounts receivable, net of allowance for doubtful accounts of $34,930 and $44,700, respectively 305,732 414,671
Other current assets 69,242 30,009
Total current assets 5,373,122 445,043
Equipment, net 13,120 14,111
Goodwill 4,213,699 2,259,624
Intangible assets, net 1,738,773 444,112
Other assets 33,800 187,117
TOTAL ASSETS 11,372,514 3,350,007
Current liabilities    
Accounts payable 476,780 514,949
Accrued interest 110,714 321,368
Accrued and deferred personnel compensation 325,281 299,534
Deferred revenue - related party    35,262
Deferred revenue and customer deposits 300,324 181,731
Convertible notes payable, net of discount    2,857,669
Notes payable 20,000 171,984
Derivative liabilities 209,089 3,074,504
Other current liabilities 231,567 250,144
Earn-out payable 46,567 2,032,881
Total current liabilities 1,720,322 9,740,026
Non-current liabilities 177,433   
Earn-out payable 177,433   
Total liabilities 1,897,755 9,740,026
Stockholders' equity (deficit)    
Common stock, $0.001 par value; 150,000,000 shares authorized; 96,079,318 and 23,218,117 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively 96,080 23,218
Equity payable 349,694   
Additional paid-in capital 53,153,190 25,412,932
Accumulated deficit (44,124,205) (31,826,169)
Total stockholders' equity (deficit) 9,474,759 (6,390,019)
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) $ 11,372,514 $ 3,350,007