Balance Sheet

v3.20.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 6,552,888 $ 56,249
Accounts receivable, net 645,536 2,611,608
Contract assets 383,700 1,375,920
Prepaid expenses and other current assets 887,035 716,598
Total Current Assets 8,469,159 4,760,375
Property and equipment, net 246,811 260,181
Operating lease right of use asset 374,287 430,146
OTHER ASSETS:    
Software development costs, net 15,000 20,000
Patents and trademarks, net 67,566 61,598
Total Other Assets 82,566 81,598
TOTAL ASSETS 9,172,823 5,532,300
CURRENT LIABILITIES:    
Accounts payable 663,746 2,641,437
Accounts payable - related parties 12,491 12,791
Notes payable - financing agreements 184,580 42,299
Notes payable - related parties, net of discounts 954,299 905,373
Line of credit 65 27,615
Payroll taxes payable 12,390 115,111
Accrued expenses 150,969 393,272
Current portion - financing leaseagreements 46,520 45,072
Current portion-operating lease obligations 248,985 239,688
Contract liabilities 10,170 8,661
Deferred revenue 681,673 936,428
Total Current Liabilities 2,965,888 5,367,747
Finance lease payable 76,876 89,026
Operating lease obligations 137,535 202,797
Total Liabilities 3,180,299 5,659,570
Commitments and Contingencies (Note 6)
STOCKHOLDERS' EQUITY (DEFICIT):    
Common stock: $0.001 par value; 500,000,000 shares authorized, 3,525,838 and 1,982,039 shares issued, 3,524,514 and 1,980,715 shares outstanding at March 31, 2020 and December 31, 2019, respectively 3,526 1,982
Additional paid-in capital 39,329,214 31,063,915
Total stock & paid-in-capital 41,037,740 32,770,897
Accumulated deficit (34,887,764) (32,740,715)
Sub-total 6,149,976 30,182
Less: Treasury stock (1,324 shares of common stock at March 31, 2020 and December 31, 2019) (157,452) (157,452)
Total Stockholders' Equity (Deficit) 5,992,524 (127,270)
Total Liabilities and Stockholders' Equity (Deficit) 9,172,823 5,532,300
Series A Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Preferred stock: $0.001 par value, 10,000,000 authorized, 9,485,000 shares available to be designated
Series B Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Preferred stock: $0.001 par value, 10,000,000 authorized, 9,485,000 shares available to be designated $ 1,705,000 $ 1,705,000

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