Income Statement

v3.7.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
REVENUES:        
Project $ 591,119 $ 882,961 $ 951,606 $ 1,112,084
Maintenance and technical support 310,974 603,034 626,301 1,210,913
IT asset management services 260,411 161,149 620,327 328,389
Total Revenues 1,162,504 1,647,144 2,198,234 2,651,386
COST OF REVENUES:        
Project 375,729 377,838 721,856 519,164
Maintenance and technical support 87,592 196,340 234,994 463,673
IT asset management services 122,181 97,773 260,039 175,531
Total Cost of Revenues 585,502 671,951 1,216,889 1,158,368
GROSS PROFIT 577,002 975,193 981,345 1,493,018
OPERATING EXPENSES:        
Selling and marketing expenses 50,182 84,629 118,929 170,669
Salaries, wages and contract labor 840,286 938,567 1,575,887 1,824,734
Research and development 72,380 73,894 159,998 129,381
Professional fees 84,580 92,246 204,733 169,474
General and administrative expenses 310,220 238,851 558,208 419,136
Total Operating Expenses 1,357,648 1,428,187 2,617,755 2,713,394
LOSS FROM OPERATIONS (780,646) (452,994) (1,636,410) (1,220,376)
OTHER INCOME (EXPENSES):        
Interest expense (832,689) (210,109) (1,754,004) (282,414)
Gain on settlement of debt 64,647
Warrant derivative gain (loss) 295,061 (287,327)
Other income, net 1 1,306
Total Other Income (Expense) (537,628) (210,109) (1,976,683) (281,108)
NET LOSS (1,318,274) (663,103) (3,613,093) (1,501,484)
Series A preferred stock dividends (5,920) (11,840)
Net loss applicable to common stock $ (1,324,194) $ (663,103) $ (3,624,933) $ (1,501,484)
NET LOSS APPLICABLE TO COMMON STOCK PER COMMON SHARE:        
Basic & Diluted $ (0.70) $ (0.35) $ (1.91) $ (0.80)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic & Diluted 1,894,923 1,881,640 1,894,549 1,878,653

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