Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current Assets    
Cash and cash equivalents $ 354,700 $ 115,700
Accounts receivable, net of allowance for doubtful accounts of $11,800 and $227,500, respectively 686,800 1,063,500
Notes receivable, net 310,700
Inventory 104,100 130,200
Costs and estimated earnings in excess of billings on uncompleted contracts 242,500 314,300
Prepaid expenses and other current assets 225,500 235,000
Total Current Assets 1,613,600 2,169,400
Property and Equipment, net 561,800 831,900
Intangible Assets, net 479,500 516,800
Notes receivable, net of current portion 232,200
Other Assets 407,000 29,800
TOTAL ASSETS 3,061,900 3,780,100
Current Liabilities    
Accounts payable 1,189,400 1,772,400
Accrued liabilities 1,592,900 1,446,500
Billings in excess of costs and estimated earnings on uncompleted contracts 327,100 470,200
Deferred revenue 32,900 191,500
Payroll taxes payable 1,052,200 1,022,500
Customer deposits 10,900 1,600
Short term notes 2,408,100 823,100
Short term notes - related party 155,000
Convertible notes 1,605,000 1,603,600
Current portion of long term debt and capital lease obligations 258,100 179,200
Accrued interest - related party 27,100 11,800
Total Current Liabilities 8,658,700 7,522,400
Deferred revenue, non-current 30,200 63,200
Other non-current liabilities 381,900
Long term debt and capital lease obligations, net of current portion 268,400 432,800
Total Liabilities 9,339,200 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; 62,591,075 and 61,703,575 shares issued, issuable** and outstanding December 31, 2019 and December 31, 2018, respectively [1] 62,600 61,700
Common stock issuable 25,000 25,000
Additional paid-in capital 22,651,100 22,531,000
Stock Subscription receivable (25,000) (25,000)
Accumulated deficit (26,964,300) (24,405,500)
Total stockholders' deficit (4,250,600) (1,812,800)
Non-controlling interest (2,026,700) (2,425,500)
Total Deficit (6,277,300) (4,238,300)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 3,061,900 $ 3,780,100
[1] Includes 887,500 and 3,200,000 shares issuable at December 31, 2019 and December 31, 2018, respectively, per terms of note agreements.