Income Statement

v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES:        
Project $ 561,022 $ 594,096 $ 1,512,628 $ 1,707,177
Maintenance and technical support 288,137 618,682 914,438 1,829,595
IT asset management services 196,576 154,391 816,903 481,783
Total Revenues 1,045,735 1,367,169 3,243,969 4,018,555
COST OF REVENUES:        
Project 458,337 303,126 1,180,193 821,264
Maintenance and technical support 131,363 262,830 366,357 727,529
IT asset management services 68,691 79,199 328,730 254,730
Total Cost of Revenues 658,391 645,155 1,875,280 1,803,523
GROSS PROFIT 387,344 722,014 1,368,689 2,215,032
OPERATING EXPENSES:        
Selling and marketing expenses 27,104 62,116 146,031 227,785
Salaries, wages and contract labor 784,012 758,685 2,359,899 2,583,419
Research and development 65,984 72,288 225,982 201,668
Professional fees 87,366 59,803 292,099 229,277
General and administrative expenses 210,398 198,715 768,606 622,851
Total Operating Expenses 1,174,864 1,151,607 3,792,617 3,865,000
LOSS FROM OPERATIONS (787,520) (429,593) (2,423,928) (1,649,968)
OTHER INCOME (EXPENSES):        
Interest expense (1,525,894) (161,515) (3,279,898) (443,929)
Gain on settlement of debt 64,647
Warrant derivative gain (loss) 2,188,546 1,901,219
Other income, net 34 1 1,339
Total Other Income (Expense) 662,652 (161,481) (1,314,031) (442,590)
NET LOSS (124,868) (591,074) (3,737,959) (2,092,558)
Series A preferred stock dividends (5,920) (17,760)
Net loss applicable to common stock $ (130,788) $ (591,074) $ (3,755,719) $ (2,092,558)
NET LOSS APPLICABLE TO COMMON STOCK PER COMMON SHARE:        
Basic & Diluted $ (0.07) $ (0.31) $ (1.98) $ (1.11)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:        
Basic & Diluted 1,899,716 1,886,457 1,896,578 1,881,266

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