Balance Sheet

v3.19.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash $ 1,202,415 $ 1,209,301
Accounts receivable, net 3,623,736 1,538,793
Contract assets 286,996 1,208,604
Prepaid expenses and other current assets 309,164 235,198
Total Current Assets 5,422,311 4,191,896
Property and equipment, net 257,946 204,226
Operating lease right of use asset 557,485
OTHER ASSETS:    
Software Development Costs, net 35,000 40,000
Patents and trademarks, net 55,529 53,871
Total Other Assets 90,529 93,871
TOTAL ASSETS 6,328,271 4,489,993
CURRENT LIABILITIES:    
Accounts payable 2,060,631 1,416,716
Accounts payable - related parties 13,473 13,473
Notes payable - financing agreements 149,899 48,330
Line of credit 30,280 31,201
Payroll taxes payable 160,730 317,573
Accrued expenses 248,593 222,328
Current portion-operating lease obligations 207,688
Contract liabilities 1,249,781 2,248,829
Deferred revenue 298,563 362,528
Total Current Liabilities 4,419,638 4,660,978
Operating lease obligations 363,557
Total Liabilities 4,783,195 4,660,978
Commitments and Contingencies (Note 6)
STOCKHOLDERS' EQUITY (DEFICIT):    
Common stock: $0.001 par value; 500,000,000 shares authorized, 24,082,351 and 21,082,351 shares issued, 24,075,958 and 21,075,958 shares outstanding at March 31, 2019 and December 31, 2018, respectively 24,082 21,082
Additional paid-in capital 29,066,117 27,397,225
Total stock & paid-in-capital 31,920,199 30,248,307
Accumulated deficit (30,225,664) (30,269,833)
Sub-total 1,694,535 (21,526)
Less: Treasury stock (6,393 and 3,280 shares of common stock at March 31, 2019 and December 31, 2018, respectively) (149,459) (149,459)
Total Stockholders' Equity (Deficit) 1,545,076 (170,985)
Total Liabilities and Stockholders' Equity (Deficit) 6,328,271 4,489,993
Series A Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Preferred stock
Series B Convertible Preferred Stock [Member]    
STOCKHOLDERS' EQUITY (DEFICIT):    
Preferred stock $ 2,830,000 $ 2,830,000

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