Balance Sheet

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CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash $ 41,103 $ 174,376
Accounts receivable 268,492 256,989
Costs and estimated earnings in excess of billings on uncompleted contracts 285,169 476,673
Prepaid expenses and other current assets 201,351 135,964
Total Current Assets 796,115 1,044,002
Property and equipment, net 66,631 66,491
OTHER ASSETS:    
Patents and trademarks, net 48,692 51,423
Total Other Assets 48,692 51,423
TOTAL ASSETS 911,438 1,161,916
CURRENT LIABILITIES:    
Accounts payable 1,036,538 842,787
Accounts payable - related parties 44,334 40,136
Commercial insurance/office equipment financing 140,544 46,368
Notes payable - related parties 516,209 529,485
Notes payable, net of discounts 1,481,103 87,210
Convertible notes payable, including premiums 193,950
Warrant derivative liability 2,161,426 793,099
Line of credit 34,602 38,019
Payroll taxes payable 971,337 444,476
Accrued expenses 1,321,187 1,218,105
Billings in excess of costs and estimated earnings on uncompleted contracts 266,758 219,625
Deferred revenue 374,639 675,171
Total Current Liabilities 8,348,677 5,128,431
Notes payable - related party 43,716 48,231
Notes payable, net of discounts 1,338,406 1,206,522
Total Liabilities 9,730,799 6,383,184
Series A redeemable convertible cumulative preferred stock, $10 stated value per share, 500,000 shares designated, 29,600 shares issued and outstanding at June 30, 2017 and December 31, 2016 ($313,760 and $301,920 liquidation value at June 30, 2017 and December 31, 2016, respectively) 313,760 301,920
Commitments and Contingencies (Note 5)
STOCKHOLDERS' DEFICIT:    
Preferred stock, $0.001 par value, 10,000,000 authorized, 9,500,000 available to be issued
Common stock: $0.001 par value; 500,000,000 shares authorized 1,894,923 and 1,892,020 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively 1,895 1,892
Additional paid-in capital 18,156,626 18,141,629
Total paid-in-capital 18,158,521 18,143,521
Accumulated deficit (27,143,642) (23,518,709)
Sub-total (8,985,121) (5,375,188)
Less: Treasury stock (3,280 shares of common stock) (148,000) (148,000)
Total Stockholders' Deficit (9,133,121) (5,523,188)
Total Liabilities and Stockholders' Deficit $ 911,438 $ 1,161,916

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