Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash $ 140,129 $ 85,435
Accounts receivable 452,235 317,934
Costs and estimated earnings in excess of billings on uncompleted contracts 421,116 218,309
Prepaid expenses and other current assets 165,095 92,859
Total Current Assets 1,178,575 714,537
Property and Equipment, net 72,544 44,883
OTHER ASSETS:    
Patents and trademarks, net 57,006 52,496
Total Other Assets 57,006 52,496
TOTAL ASSETS 1,308,125 811,916
CURRENT LIABILITIES:    
Accounts payable 1,061,961 550,456
Accounts payable - related party 30,070 53,122
Commercial insurance/office equipment financing 44,024 33,055
Notes payable-related parties 486,964 $ 75,000
Notes payable 52,500
Convertible notes payable, including premiums 338,058 $ 1,425,106
Line of credit 40,216
Payroll taxes payable 296,215 $ 600,181
Accrued expenses 955,570 694,498
Billings in excess of costs and estimated earnings on uncompleted contracts 303,064 153,783
Deferred revenue 908,206 865,394
Contingent lawsuit payable 550,000 1,411,650
Total Current Liabilities 5,066,848 5,862,245
Total Liabilities $ 5,066,848 $ 5,862,245
Commitments and Contingencies (Note 10)
STOCKHOLDERS' EQUITY (DEFICIT):    
Preferred stock, $0.001 par value; 10,000,000 authorized, none issued or outstanding
Common stock: $0.001 par value; 500,000,000 shares authorized, 64,777,621 and 57,738,209 shares issued and issuable, and outstanding at December 31, 2015 and December 31, 2014, respectively $ 64,778 $ 57,738
Additional paid-in capital 17,127,675 13,517,159
Accumulated deficit (20,951,176) (18,625,226)
Total Stockholders' Equity (Deficit) (3,758,723) (5,050,329)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 1,308,125 $ 811,916