Income Statement

v3.19.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
REVENUES:        
Total Revenues $ 1,345,805 $ 3,240,056 $ 5,697,886 $ 4,387,985
COST OF REVENUES:        
Total Cost of Revenues 1,171,405 1,982,815 3,392,642 2,654,175
GROSS PROFIT 174,400 1,257,241 2,305,244 1,733,810
OPERATING EXPENSES:        
Selling and marketing expenses 128,506 74,403 238,122 115,624
Salaries, wages and contract labor 1,338,302 1,315,240 2,607,081 2,081,111
Research and development 118,435 143,081 231,129 278,361
Professional fees 17,054 59,937 144,973 123,801
General and administrative expenses 521,268 295,141 986,655 504,976
Total Operating Expenses 2,123,565 1,887,802 4,207,960 3,103,873
LOSS FROM OPERATIONS (1,949,165) (630,561) (1,902,716) (1,370,063)
OTHER INCOME (EXPENSES):        
Interest Expense (3,692) (4,438) (6,313) (10,166)
Gain on settlement of debt
Warrant derivative gain
Other income, net 3,066 636 3,407 2,762
Total Other Income (Expense) (626) (3,802) (2,906) (7,404)
NET LOSS (1,949,791) (634,363) (1,905,622) (1,377,467)
Net loss applicable to common stock $ (1,949,791) $ (634,363) $ (1,905,622) $ (1,377,467)
Basic & Diluted Net Loss Per Share $ (0.08) $ (0.03) $ (0.08) $ (0.07)
Weighted Average Shares-Basic & Diluted 25,041,232 20,707,153 23,316,146 20,706,712
Project Revenues [Member]        
REVENUES:        
Total Revenues $ 984,991 $ 2,940,992 $ 4,903,429 $ 3,785,706
COST OF REVENUES:        
Total Cost of Revenues 967,649 1,846,871 3,060,643 2,394,670
Maintenance and Technical Support Revenues [Member]        
REVENUES:        
Total Revenues 280,601 252,447 602,075 509,893
COST OF REVENUES:        
Total Cost of Revenues 156,341 108,193 261,665 211,516
IT Asset Management Services Revenues [Member]        
REVENUES:        
Total Revenues 80,213 46,617 192,382 92,386
COST OF REVENUES:        
Total Cost of Revenues $ 47,415 $ 27,751 $ 70,334 $ 47,989

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