v3.20.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash $ 4,116,582 $ 56,249
Accounts receivable, net 1,339,786 2,611,608
Contract assets 184,235 1,375,920
Prepaid expenses and other current assets 618,492 716,598
Total Current Assets 6,259,095 4,760,375
Property and equipment, net 336,486 260,181
Operating lease right of use asset 257,367 430,146
OTHER ASSETS:    
Software development costs, net 5,000 20,000
Patents and trademarks, net 65,757 61,598
Total Other Assets 70,757 81,598
TOTAL ASSETS 6,923,705 5,532,300
CURRENT LIABILITIES:    
Accounts payable 702,611 2,641,437
Accounts payable - related parties 7,950 12,791
Notes payable - financing agreements 70,991 42,299
Notes payable - related parties, net of discounts 905,373
Line of credit 27,615
Payroll taxes payable 3,146 115,111
Accrued expenses 989,397 393,272
Current portion - financing lease agreements 87,091 45,072
Current portion-operating lease obligations 247,182 239,688
Current portion-SBA loan 863,845
Contract liabilities 332,751 8,661
Deferred revenue 707,244 936,428
Total Current Liabilities 4,012,208 5,367,747
Finance lease payable 126,597 89,026
Operating lease obligations 18,958 202,797
SBA loan 546,425
Total Liabilities 4,704,188 5,659,570
Commitments and Contingencies (Note 6)
STOCKHOLDERS' EQUITY (DEFICIT):    
Common stock: $0.001 par value; 500,000,000 shares authorized, 3,535,339 and 1,982,039 shares issued, 3,534,015 and 1,980,715 shares outstanding at September 30, 2020 and December 31, 2019, respectively 3,536 1,982
Additional paid-in capital 39,730,665 31,063,915
Total stock & paid-in-capital 41,439,201 32,770,897
Accumulated deficit (39,062,232) (32,740,715)
Sub-total 2,376,969 30,182
Less: Treasury stock (1,324 shares of common stock at September 30, 2020 and December 31, 2019) (157,452) (157,452)
Total Stockholders' Equity (Deficit) 2,219,517 (127,270)
Total Liabilities and Stockholders' Equity (Deficit) 6,923,705 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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