Balance Sheet

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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
[1]
Current assets:    
Cash $ 90,300 $ 115,700
Accounts receivable, net of allowance for doubtful accounts of $227,500 and $227,500, respectively 1,297,700 1,063,500
Notes receivable, net 325,800 310,700
Costs and estimated earnings in excess billings on uncompleted contracts 61,300 314,300
Prepaid expenses and other current assets 789,000 365,200
Total current assets 2,564,100 2,169,400
Property and equipment, net 746,100 831,900
Intangible assets, net 505,200 516,800
Notes receivable, net of current portion 227,000 232,200
Other assets 83,900 29,800
TOTAL ASSETS 4,126,300 3,780,100
Current liabilities:    
Accounts payable 1,689,900 1,772,400
Accrued liabilities 1,410,600 1,446,500
Billings in excess of costs and estimated earnings on uncompleted contracts 647,500 470,200
Deferred revenue 78,900 191,500
Payroll taxes payable 1,030,800 1,022,500
Customer deposits 1,600 1,600
Short term notes 1,254,200 823,100
Convertible notes 1,604,100 1,603,600
Current portion of long term debt and capital lease obligations 228,600 179,200
Accrued interest - related party 11,800 11,800
Total current liabilities 7,958,000 7,522,400
Deferred revenue, non-current 55,000 63,200
Other non-current liabilities 13,900  
Long term debt and capital lease obligations, net of current portion 367,800 432,800
Total liabilities 8,394,700 8,018,400
Stockholders' Deficit:    
Common stock; $.001 par value; 70,000,000 shares authorized; 61,903,575 and 61,703,575 shares issued, issuable** and outstanding March 31, 2019 and December 31, 2018, respectively [2] 61,900 61,700
Common stock subscribed 25,000 25,000
Additional paid-in capital 22,550,400 22,531,000
Stock subscription receivable (25,000) (25,000)
Adoption of ASU 2016-02, Leases (Topic 842) (20,800)  
Accumulated deficit (24,956,100) (24,405,500)
Total stockholders' (deficit) (2,364,600) (1,812,800)
Non-controlling interest (1,903,800) (2,425,500)
Total equity (4,268,400) (4,238,300)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 4,126,300 $ 3,780,100
[1] These numbers were derived from the audited financial statements for the year ended December 31, 2018. See accompanying notes.
[2] Includes 900,000 and 3,200,000 shares issuable at March 31, 2098 and December 31, 2018, respectively, per terms of note agreements.

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