Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Balance Sheets

v3.25.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 537,100 $ 57,900
Accounts receivable, net of allowance for credit  losses of $24,200 and $24,200, respectively 591,000 340,800
Inventory 2,100 16,800
Contract assets 17,000
Prepaid expenses and other current assets 102,600 81,400
Assets held for sale 54,300
Total Current Assets 1,232,800 568,200
Property and equipment, net 44,000 33,600
Intangible Assets, net 14,700 17,900
Right of use assets 126,200 191,300
Other assets 40,000 40,000
TOTAL ASSETS 1,457,700 851,000 [1]
Current Liabilities    
Accounts payable 905,000 816,600
Accrued liabilities 4,756,700 3,759,300
Contract liabilities 1,129,600 829,800
Deferred revenue 20,600 43,300
Customer deposits 26,800
Short term notes 5,248,100 4,243,100
Short term notes and accrued interest - related party 220,100 201,400
Convertible notes 1,605,000 1,605,000
Current portion of long-term debt and finance lease obligations 506,500 509,800
Current portion of lease liabilities 72,500 72,500
Liabilities held for sale 34,500 42,900
Total Current Liabilities 14,498,600 12,150,500
Lease liabilities net of current portion 72,900 145,100
Long term debt 1,838,000 1,843,900
Total Liabilities 16,409,500 14,139,500
Commitments and contingencies
Stockholders’ deficit    
Preferred stock; $.001 par value; 5,000,000 shares authorized; 4,000,000 shares issued and outstanding December 31, 2024 4,000
Common stock; $.001 par value; 70,000,000 shares authorized; 65,088,575 shares issued, issuable* and outstanding December 31, 2024 and December 31, 2023 65,100 65,100
Common stock issuable 25,000 25,000
Additional paid-in capital 23,113,800 22,973,800
Stock Subscription receivable (25,000) (25,000)
Accumulated deficit (36,180,700) (34,377,900)
Total stockholders’ deficit (12,997,800) (11,339,000)
Non-controlling interest (1,954,000) (1,949,500)
Total Deficit (14,951,800) (13,288,500)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 1,457,700 $ 851,000
[1] Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles.