Balance Sheet

v3.20.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 5,374,786 $ 56,249
Accounts receivable, net 496,807 2,611,608
Contract assets 845,810 1,375,920
Prepaid expenses and other current assets 698,158 716,598
Total Current Assets 7,415,561 4,760,375
Property and equipment, net 346,979 260,181
Operating lease right of use asset 316,726 430,146
OTHER ASSETS:    
Software development costs, net 10,000 20,000
Patents and trademarks, net 66,649 61,598
Total Other Assets 76,649 81,598
TOTAL ASSETS 8,155,915 5,532,300
CURRENT LIABILITIES:    
Accounts payable 632,043 2,641,437
Accounts payable - related parties 12,491 12,791
Notes payable - financing agreements 175,796 42,299
Notes payable - related parties, net of discounts 905,373
Line of credit 27,615
Payroll taxes payable 10,730 115,111
Accrued expenses 130,798 393,272
Current portion - financing lease agreements 84,635 45,072
Current portion-operating lease obligations 252,907 239,688
Current portion-SBA loan 627,465
Contract liabilities 3,283 8,661
Deferred revenue 493,830 936,428
Total Current Liabilities 2,423,978 5,367,747
Finance lease payable 149,314 89,026
Operating lease obligations 74,713 202,797
SBA loan 782,805
Total Liabilities 3,430,810 5,659,570
Commitments and Contingencies (Note 6)
STOCKHOLDERS' EQUITY (DEFICIT):    
Common stock: $0.001 par value; 500,000,000 shares authorized, 3,527,470 and 1,982,039 shares issued, 3,526,146 and 1,980,715 shares outstanding at June 30, 2020 and December 31, 2019, respectively 3,528 1,982
Additional paid-in capital 39,527,682 31,063,915
Total stock & paid-in-capital 41,236,210 32,770,897
Accumulated deficit (36,353,653) (32,740,715)
Sub-total 4,882,557 30,182
Less: Treasury stock (1,324 shares of common stock at June 30, 2020 and December 31, 2019) (157,452) (157,452)
Total Stockholders' Equity (Deficit) 4,725,105 (127,270)
Total Liabilities and Stockholders' Equity (Deficit) 8,155,915 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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