Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

v3.7.0.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 150,322 $ 255,817
Accounts receivable (less allowance for doubtful accounts of $90,000 in 2017 and $90,000 in 2016) 954,827 807,515
Prepaid expenses and other current assets 224,747 231,432
Total Current Assets 1,329,896 1,294,764
Property and Equipment:    
Property and equipment 5,148,347 3,401,251
Less-Accumulated depreciation (3,309,746) (3,222,591)
Net Property and Equipment 1,838,601 178,660
Other Assets:    
Goodwill 3,985,700 3,985,700
Other assets 50,903 54,504
Intangible assets, net 320,750 329,242
Total Other Assets 4,357,353 4,369,446
Total Assets 7,525,850 5,842,870
Current Liabilities:    
Accounts payable and accrued expenses 1,246,011 1,219,247
Revolving credit facility 50,412
Accounts payable from acquisition 374,762
Dividend payable 647,346 619,138
Deferred revenue 761,730 919,103
Leases payable - related party 614,292 254,078
Note payable - bank 350,000 350,000
Total Current Liabilities 3,619,379 3,786,740
Deferred rental obligation 1,796 1,904
Note Payable - related party 416,435 190,000
Leases payable long-term - related party 1,414,024 133,825
Total Long Term Liabilities 1,832,255 325,729
Total Liabilities 5,451,634 4,112,469
Stockholders' Deficit:    
Preferred Stock, $.001 par value; 10,000,000 shares authorized; 1,401,786 shares issued and outstanding in each period 1,402 1,402
Common stock, par value $0.001; 250,000,000 shares authorized; 128,039,418 shares Issued and outstanding in each period 128,039 128,039
Additional paid in capital 17,197,485 17,194,383
Accumulated deficit (15,252,710) (15,593,423)
Total Stockholders' (Deficit) Equity 2,074,216 1,730,401
Total Liabilities and Stockholders' (Deficit) $ 7,525,850 $ 5,842,870