General form of registration statement for all companies including face-amount certificate companies

Consolidated Balance Sheets

v2.4.0.6
Consolidated Balance Sheets (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current Assets:    
Cash and cash equivalents $ 168,490 $ 50,395
Accounts receivable (less allowance for doubtful accounts of $48,000 and $35,000 in December and September 2011 and $17,000 in December 2010) 294,306 387,697
Deferred Compensation 37,041 17,562
Prepaid Expenses and other current assets 218,675 63,215
Total Current Assets 718,512 518,869
Property and Equipment:    
Property and equipment 3,024,302 2,031,771
Less—Accumulated depreciation (1,680,484) (1,200,448)
Net Property and Equipment 1,343,818 831,323
Other Assets:    
Goodwill 2,201,828 2,201,828
Deferred compensation 26,614 44,176
Other assets 61,923 18,652
Intangible Assets, net 955,048 1,169,404
Employee loan 0 23,000
Total Other Assets 3,245,413 3,457,060
Total Assets 5,307,743 4,807,252
Current Liabilities:    
Accounts payable and accrued expenses 1,343,855 1,070,036
Credit line payable 100,292 99,970
Due to related party 124,753 52,718
Dividend Payable 162,500 125,000
Deferred revenue 641,381 461,724
Leases payable 499,325 325,934
Loans payable 128,182 122,251
Contingent consideration in SafeData acquisition 0 805,087
Total Current Liabilities 3,000,288 3,062,720
Deferred rental obligation 21,341 26,064
Due to officer 624,818 614,628
Loan payable long term 11,887 151,491
Leases payable long term 509,628 115,533
Convertible debt 0 18,928
Convertible debt – related parties 0 227,138
Total Long Term Liabilities 1,167,674 1,153,782
Total Liabilities 4,167,962 4,216,502
Commitments and contingencies 0 0
Stockholders’ Equity:    
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; 28,912,712, and 17,127,541 shares issued and outstanding for December 31, 2011 and 2010, respectively; 22,572,410 issued and outstanding for September 30, 2011. 28,913 17,861
Additional paid in capital 10,705,470 7,313,844
Accumulated deficit (9,596,004) (6,742,357)
Total Stockholders' Equity 1,139,781 590,750
Total Liabilities and Stockholders' Equity $ 5,307,743 $ 4,807,252