Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 64,900 $ 115,700
Accounts receivable, net of allowance for doubtful accounts of $227,500 and $227,500, respectively 466,500 1,063,500
Notes receivable, net 310,700
Costs and estimated earnings in excess of billings on uncompleted contracts 374,300 314,300
Prepaid expenses and other current assets 540,800 365,200
Total Current Assets 1,446,500 2,169,400
Property and Equipment, net 651,700 831,900
Intangible Assets, net 488,300 516,800
Notes receivable, net of current portion 232,200
Other Assets 451,400 29,800
TOTAL ASSETS 3,037,900 3,780,100
Current Liabilities    
Accounts payable 1,423,700 1,772,400
Accrued liabilities 1,606,700 1,446,500
Billings in excess of costs and estimated earnings on uncompleted contracts 219,400 470,200
Deferred revenue 33,000 191,500
Payroll taxes payable 1,047,400 1,022,500
Customer deposits 10,900 1,600
Short term notes 1,637,000 823,100
Short term notes - related party 140,000
Convertible notes 1,605,000 1,603,600
Current portion of long-term debt and capital lease obligations 195,100 179,200
Accrued interest - related party 18,300 11,800
Total Current Liabilities 7,936,500 7,522,400
Deferred revenue, non-current 38,400 63,200
Other non-current liabilities 394,200
Long term debt and capital lease obligations, net of current portion 371,000 432,800
Total Liabilities 8,740,100 8,018,400
Commitments and contingencies
Stockholders' deficit    
Preferred stock; $.001 par value; 5,000,000 shares authorized; -0- shares issued
Common stock; $.001 par value; 70,000,000 shares authorized; 62,253,575 and 61,703,575 shares issued, issuable** and outstanding September 30, 2019 and December 31, 2018, respectively 62,300 61,700
Common stock issuable 25,000 25,000
Additional paid-in capital 22,623,100 22,531,000
Stock Subscription receivable (25,000) (25,000)
Adoption of ASU 2016-02, Leases (Topic 842) (20,800)
Accumulated deficit (26,387,900) (24,405,500)
Total stockholders' deficit (3,723,300) (1,812,800)
Non-controlling interest (1,978,900) (2,425,500)
Total deficit (5,702,200) (4,238,300)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 3,037,900 $ 3,780,100