Balance Sheet

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2025
Dec. 31, 2024
 [1]
Current Assets    
Cash and cash equivalents $ 175,500 $ 537,100
Accounts receivable, net of allowance for credit losses of $24,200 and $24,200, respectively 332,400 591,000
Inventory 2,100 2,100
Contract assets 30,900
Prepaid expenses and other current assets 104,700 102,600
Total Current Assets 645,600 1,232,800
Property and equipment, net 39,500 44,000
Intangible Assets, net 13,400 14,700
Right of use assets 114,600 126,200
Other assets 40,200 40,000
TOTAL ASSETS 853,300 [2] 1,457,700
Current Liabilities    
Accounts payable 1,101,600 905,000
Accrued liabilities 5,218,000 4,756,700
Contract liabilities 950,700 1,129,600
Deferred revenue 67,800 20,600
Short term notes 4,906,000 5,248,100
Short term notes and accrued interest - related party 229,900 220,100
Convertible notes 1,605,000 1,605,000
Current portion of long-term debt and finance lease obligations 505,500 506,500
Current portion of lease liabilities 72,500 72,500
Liabilities held for sale 34,500 34,500
Total Current Liabilities 14,691,500 14,498,600
Lease liabilities net of current portion 60,000 72,900
Long term debt 1,836,100 1,838,000
Total Liabilities 16,587,600 16,409,500
Commitments and contingencies
Stockholders’ deficit    
Preferred stock; $.001 par value; 5,000,000 shares authorized; -0- shares issued 4,000
Common stock; $.001 par value; 320,000,000 shares authorized; 68,688,575 shares issued, issuable* and outstanding June 30, 2025 and 70,000,000 shares authorized on December 31, 2024 68,900 65,100
Common stock issuable 25,000 25,000
Additional paid-in capital 23,356,600 23,113,800
Stock Subscription receivable (25,000) (25,000)
Accumulated deficit (37,203,900) (36,180,700)
Total stockholders’ deficit (13,778,400) (12,997,800)
Non-controlling interest (1,955,900) (1,954,000)
Total Deficit (15,734,300) (14,951,800)
TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT $ 853,300 $ 1,457,700
[1] These numbers are derived from the audited financial statements for the year ended December 31, 2024.
[2] Segment information excludes the results of SEM media operations. SEM discontinued its media operations as of January 1, 2023, except net income (loss), of which SEM media operations is categorized as discontinued operations. (See Note 15)

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