Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.4.0.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
Current Assets:    
Cash $ 154,633 $ 205,133
Restricted Cash 750,704 3,003,226
Accounts receivable, net 2,700,589 1,446,480
Other current assets 2,521,783 2,047,606
Total current assets 6,127,709 6,702,445
Property and equipment, net 2,610,421 2,544,497
Total Assets 8,738,130 9,246,942
Current Liabilities:    
Accounts payable 3,266,577 2,998,239
Due to related parties 330,894 245,764
Accrued expenses and other current liabilities 3,547,273 3,578,945
Notes payable, current portion 2,052,331 1,887,120
Notes payable, related parties, current portion 287,301 287,301
Accrued litigation costs 1,195,839 1,335,771
Total Current Liabilities 10,680,215 10,333,140
Notes payable, non-current portion 1,555,564 1,572,063
Senior note payable, non-current portion, net of original issue discount and deferred costs 7,090,781 6,846,110
Total Liabilities 19,326,560 18,751,313
Temporary equity:    
Temporary Equity, Carrying Amount, Attributable to Parent $ 437,380 $ 437,380
Commitments and contingencies
Stockholders' Deficiency:    
Common stock; $0.001 par value, 70,000,000 shares authorized and 46,386,220 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively $ 46,387 $ 46,387
Additional paid-in capital 3,023,771 3,009,008
Subscriptions receivable (204,789) (204,789)
Accumulated deficit (13,915,284) (12,815,929)
Total Stockholders' Deficiency (11,025,810) (9,941,751)
Total Liabilities and Stockholders' Deficiency 8,738,130 9,246,942
Series A Convertible Preferred Stock [Member]    
Stockholders' Deficiency:    
Preferred Stock 5 5
Series A-1 Convertible Preferred Stock [Member]    
Stockholders' Deficiency:    
Preferred Stock 3 3
Series D Convertible Preferred Stock [Member]    
Temporary equity:    
Temporary Equity, Carrying Amount, Attributable to Parent 129,027 129,027
Stockholders' Deficiency:    
Preferred Stock 18,308 18,308
Series F Convertible Preferred Stock [Member]    
Temporary equity:    
Temporary Equity, Carrying Amount, Attributable to Parent 308,353 308,353
Stockholders' Deficiency:    
Preferred Stock $ 5,789 $ 5,256