Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

v3.7.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash and cash equivalents $ 255,817 $ 67,045
Accounts receivable (less allowance for doubtful accounts of $90,000 in 2016 and $15,000 in 2015) 807,515 118,619
Prepaid expenses and other current assets 231,432 231,443
Total Current Assets 1,294,764 417,107
Property and Equipment:    
Property and equipment 3,401,251 3,375,958
Less-Accumulated depreciation (3,222,591) (3,064,492)
Net Property and Equipment 178,660 311,466
Other Assets:    
Goodwill 3,985,700 2,201,828
Employee loans 85,800
Other assets 54,503 6,060
Intangible assets, net 329,242 350,433
Investment in joint venture - at equity 20,117
Total Other Assets 4,369,445 2,664,238
Total Assets 5,842,870 3,392,811
Current Liabilities:    
Accounts payable and accrued expenses 1,219,247 1,051,349
Revolving credit facility 50,412 99,292
Accounts payable from acquisition 374,762
Dividend payable 619,138 513,073
Deferred revenue 919,103 436,563
Leases payable 254,078 241,983
Note payable - Enterprise Bank 350,000 350,000
Convertible debt - related parties, net of discount 901,924
Total Current Liabilities 3,786,740 3,594,184
Deferred rental obligation 1,904 1,251
Convertible debt - related parties 1,189,439
Note payable related party 190,000 12,000
Leases payable long-term 133,825 346,583
Total Long-Term Liabilities 325,729 1,549,273
Total Liabilities 4,112,469 5,143,457
Commitments and contingencies
Stockholders' Equity (Deficit):    
Common stock, par value $0.001; 250,000,000 shares authorized; 128,039,418 shares issued and outstanding in each period 128,039 36,588
Additional paid in capital 17,194,383 12,805,332
Accumulated deficit (15,593,423) (14,593,968)
Total Stockholders Equity(Deficit) 1,730,401 (1,750,646)
Total Liabilities and Stockholders' Equity(Deficit) 5,842,870 3,392,811
Series A Preferred Stock [Member]    
Stockholders' Equity (Deficit):    
Preferred stock, Series A par value $.001; 10,000,000 shares authorized; 1,401,786 shares issued and outstanding in each period $ 1,402 $ 1,402