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
Sep. 30, 2015
Current Assets:      
Cash $ 1,411,612 $ 205,133 $ 207,740
Restricted cash 3,003,226
Accounts receivable, net 7,019,576 1,446,480 1,215,445
Other current assets 2,833,311 2,047,606 2,052,583
Total Current Assets 11,264,499 6,702,445 3,475,768
Property and equipment, net 3,466,519 2,544,497 1,419,040
Total Assets 14,731,018 9,246,942 4,894,808
Current Liabilities:      
Accounts payable 2,357,334 2,998,240 2,476,901
Due to related parties 99,860 245,764 183,538
Accrued expenses and other current liabilities 3,202,105 3,578,945 2,965,290
Notes payable, current portion 7,611,335 1,887,120 1,295,271
Factoring lines of credit 600,554
Notes payable, related parties 791,158 287,301 287,302
Warrant derivative liability 594,000
Accrued litigation costs 1,335,771 1,840,891
Accrued lease termination costs 113,000
Total Current Liabilities 14,655,792 10,333,141 9,762,747
Notes payable, non-current portion 2,362,262 1,572,063 4,571,402
Senior note payable, non-current portion, net of original issue discount and deferred costs 7,576,440 6,846,110
Accrued interest, non-current portion 1,686,256
Total Liabilities 24,594,494 18,751,314 16,020,405
Temporary Equity:      
Total Temporary Equity 437,380 437,380
Commitments and contingencies
Stockholders' Deficiency:      
Common stock; $0.001 par value, 200,000,000 shares authorized and 78,019,872, 2,319,524, and 2,266,887 shares issued and outstanding at December 31, 2016, December 31, 2015,and September 30, 2015, respectively 78,019 2,319 2,267
Additional paid-in capital 11,500,477 3,053,075 2,565,709
Subscriptions receivable (2,828,997) (204,789) (349,789)
Accumulated deficit (19,050,363) (12,815,929) (13,362,100)
Total Stockholders' Deficiency (10,300,856) (9,941,752) (11,125,597)
Total Liabilities and Stockholders' Deficiency 14,731,018 9,246,942 4,894,808
Series D Convertible Preferred Stock [Member]      
Stockholders' Deficiency:      
Preferred stock; $0.01 par value, 5,000,000 shares authorized: 18,308 18,308
Series D Convertible Preferred Stock [Member] | Temporary Equity [Member]      
Temporary Equity:      
Temporary Equity, value 129,027
Series F Convertible Preferred Stock [Member]      
Stockholders' Deficiency:      
Preferred stock; $0.01 par value, 5,000,000 shares authorized: 5,256
Series F Convertible Preferred Stock [Member] | Temporary Equity [Member]      
Temporary Equity:      
Temporary Equity, value 308,353
Common Stock [Member] | Temporary Equity [Member]      
Temporary Equity:      
Temporary Equity, value 437,380
Series A Convertible Preferred Stock [Member]      
Stockholders' Deficiency:      
Preferred stock; $0.01 par value, 5,000,000 shares authorized: 5 5 5
Series A-1 Preferred Shares [Member]      
Stockholders' Deficiency:      
Preferred stock; $0.01 par value, 5,000,000 shares authorized: $ 3 $ 3 $ 3