Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current assets    
Cash $ 1,207,020 $ 1,188,485
Restricted cash 1,000,000 1,000,000
Accounts receivable, net of allowance for doubtful accounts of $2,512 and $15,503, respectively 114,210 1,244,484
Other current assets 222,243 179,376
Total current assets 2,543,473 3,612,345
Goodwill 803,118 803,118
Intangible assets, net 818,170 627,119
Other assets 105,134 109,776
TOTAL ASSETS 4,269,895 5,152,358
Current liabilities    
Accounts payable 641,943 701,347
Accrued interest 4,019 2,020
Accrued and deferred personnel compensation 578,573 671,677
Deferred revenue and customer deposits 407,436 160,023
Notes payable, net - current maturities 1,066,150 1,011,910
Other current liabilities 106,532 115,051
Total current liabilities 2,804,653 2,662,028
Non-current liabilities    
Notes payable, net - long term 353,108 361,166
Total non-current liabilities 353,108 361,166
Total liabilities 3,157,761 3,023,194
Commitments and Contingencies (See Note 9)
Stockholders' equity (deficit)    
Common stock, $0.001 par value; 100,000,000 shares authorized; 36,388,981 and 36,388,981, shares issued and outstanding 36,389 36,389
Equity payable 100,862 100,862
Additional paid-in capital 77,035,800 76,698,383
Accumulated other comprehensive loss (38,220) (32,999)
Accumulated deficit (76,022,697) (74,673,471)
Total stockholders' equity 1,112,134 2,129,164
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,269,895 $ 5,152,358