Balance Sheet

v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash $ 250 $ 174,376
Accounts receivable 583,149 256,989
Costs and estimated earnings in excess of billings on uncompleted contracts 345,085 476,673
Prepaid expenses and other current assets 136,230 135,964
Total Current Assets 1,064,714 1,044,002
Property and equipment, net 56,609 66,491
OTHER ASSETS:    
Patents and trademarks, net 47,335 51,423
Total Other Assets 47,335 51,423
TOTAL ASSETS 1,168,658 1,161,916
CURRENT LIABILITIES:    
Bank overdraft 688
Accounts payable 1,469,519 842,787
Accounts payable - related parties 41,374 40,136
Commercial insurance/office equipment financing 101,073 46,368
Notes payable - related parties 516,327 529,485
Notes payable, net of discounts 2,124,371 87,210
Convertible notes payable, including premiums 193,950
Warrant derivative liability 938,228 793,099
Line of credit 34,233 38,019
Payroll taxes payable 1,178,666 444,476
Accrued expenses 1,653,188 1,218,105
Billings in excess of costs and estimated earnings on uncompleted contracts 242,846 219,625
Deferred revenue 341,545 675,171
Total Current Liabilities 8,642,058 5,128,431
Notes payable - related party 41,478 48,231
Notes payable, net of discounts 1,404,348 1,206,522
Total Liabilities 10,087,884 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 September 30, 2017 and December 31, 2016 ($319,680 and $301,920 liquidation value at September 30, 2017 and December 31, 2016, respectively) 319,680 301,920
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, 1,901,670 and 1,892,020 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively 1,902 1,892
Additional paid-in capital 18,181,620 18,141,629
Total paid-in-capital 18,183,522 18,143,521
Accumulated deficit (27,274,428) (23,518,709)
Sub-total (9,090,906) (5,375,188)
Less: Treasury stock (3,280 shares of common stock) (148,000) (148,000)
Total Stockholders' Deficit (9,238,906) (5,523,188)
Total Liabilities and Stockholders' Deficit $ 1,168,658 $ 1,161,916

Source