Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 188,800 $ 46,800
Accounts receivable, net of allowance for doubtful accounts of $0 and $11,800, respectively 536,600 375,600
Inventory 201,700 161,400
Contract assets 3,600 6,800
Prepaid expenses and other current assets 111,300 96,100
Assets held for sale 145,000
Total Current Assets 1,042,000 831,700
Property and equipment, net 433,000 547,300
Intangible Assets, net 419,300 447,300
Right of use assets 302,300 349,800
Other assets 40,600 40,600
TOTAL ASSETS 2,237,200 2,216,700
Current Liabilities    
Accounts payable 471,200 841,700
Accrued liabilities 2,230,100 1,749,500
Contract liabilities 525,900 323,900
Deferred revenue 30,200
Customer deposits 6,200
Paycheck protection program liabilities 96,600 252,800
Short term notes 2,843,900 3,032,800
Short term notes and accrued interest - related party 180,800 206,300
Convertible notes 1,605,000 1,605,000
Current portion of long-term debt and capital lease obligations 525,600 523,900
Current portion of lease liabilities 54,700 47,100
Liabilities held for sale 1,961,100
Total Current Liabilities 8,533,800 10,580,500
Lease liabilities net of current portion 280,300 334,700
Long term debt and capital lease obligations, net of current portion 1,619,600 30,300
Total Liabilities 10,433,700 10,945,500
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; 65,088,575 and 65,088,575 shares issued, issuable and outstanding December 31, 2021 and December 31, 2020, respectively [1] 65,100 65,100
Common stock issuable 25,000 25,000
Additional paid-in capital 22,973,800 22,961,200
Stock Subscription receivable (25,000) (25,000)
Accumulated deficit (29,364,800) (29,693,700)
Total stockholders’ deficit (6,325,900) (6,667,400)
Non-controlling interest (1,870,600) (2,061,400)
Total Deficit (8,196,500) (8,728,800)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 2,237,200 $ 2,216,700
[1] Includes 2,785,000 and 3,185,000 shares issuable at December 31, 2021 and December 31, 2020, respectively, per terms of note agreements.