Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
REVENUES:    
Project $ 229,123 $ 504,969
Maintenance and technical support 607,879 $ 597,126
IT asset management services 167,241
Total Revenues 1,004,243 $ 1,102,095
COST OF REVENUES:    
Project 141,078 334,495
Maintenance and technical support 267,581 $ 214,395
IT asset management services 77,758
Total Cost of Revenues 486,417 $ 548,890
GROSS PROFIT 517,826 553,205
OPERATING EXPENSES:    
Selling and marketing expenses 86,040 59,329
Salaries, wages and contract labor 886,167 589,627
Research and development 55,487 49,836
Professional Fees 77,229 90,305
General and administrative expenses 180,285 128,639
Total Operating Expenses 1,285,208 917,736
LOSS FROM OPERATIONS (767,382) (364,531)
OTHER INCOME (EXPENSES):    
Interest expense $ (72,305) (391,094)
Gain on settlement of accounts payable 3,200
Other income, net $ 1,306 1
Total Other Income (Expense) (70,999) (387,893)
Loss before income taxes $ (838,381) $ (752,424)
Income tax
NET LOSS $ (838,381) $ (752,424)
Preferred stock dividends
Net loss applicable to common stock $ (838,381) $ (752,424)
NET LOSS APPLICABLE TO COMMON STOCK PER COMMON SHARE:    
Basic $ (0.01) $ (0.01)
Diluted $ (0.01) $ (0.01)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:    
Basic 65,655,807 57,738,209
Diluted 65,655,807 57,738,209