Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net loss $ (323,590) $ (377,105)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 123,542 298,292
Net loss on equity method investment 210 4,653
Non cash interest expense 104,598 103,134
Stock based compensation 24,280 49,254
Changes in Assets and Liabilities:    
Accounts receivable (104,104) (138,860)
Other assets (9,096) (450)
Prepaid expenses and other current assets 92,966 (11,132)
Employee loan (24,000)
Accounts payable and accrued expenses 151,376 132,134
Deferred revenue (32,817) (61,422)
Deferred rent 327 327
Net Cash Provided by (Used in) Operating Activities 113,492 (25,175)
Cash Flows from Financing Activities:    
Issuance of convertible debt 80,000
Advances from officer 15,000
Repayments of capital lease obligations (119,222) (108,623)
Net Cash Provided by (Used in) Financing Activities (104,222) (28,623)
Increase (Decrease) in Cash and Cash Equivalents 9,270 (53,798)
Cash and Cash Equivalents, Beginning of Period 67,045 110,448
Cash and Cash Equivalents, End of Period 76,315 56,650
Cash paid for interest 28,340 43,800
Cash paid for income taxes
Non cash investing and financing activities:    
Accrual of preferred stock dividend 51,712 46,812
Conversion of due to related party to convertible debt 245,601
Conversion of due to officer to convertible debt $ 1,065,762