Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

v3.7.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Current Assets:    
Cash $ 2,330 $ 1,411,612
Accounts receivable, net 9,984,873 7,019,576
Other current assets 3,649,047 2,833,311
Total Current Assets 13,636,250 11,264,499
Property and equipment, net 4,300,125 3,466,519
Total Assets 17,936,375 14,731,018
Current Liabilities:    
Accounts payable 2,332,805 2,357,334
Due to related parties 190,248 99,860
Accrued expenses and other current liabilities 3,507,893 3,202,105
Notes payable, current portion 5,430,565 3,443,562
Notes payable, related parties, current portion 791,158 791,158
Warrant derivative liability 3,357,000 594,000
Total Current Liabilities 15,609,669 10,488,019
Notes payable, non-current portion 7,300,332 6,530,035
Senior note payable, non-current portion, net of original issue discount and deferred costs 5,081,634 7,576,440
Total Liabilities 27,991,635 24,594,494
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 88,402,369 and 78,019,872 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 88,402 78,019
Additional paid-in capital 17,483,646 11,500,477
Shares to be issued 615,000
Subscriptions receivable (5,658,489) (2,828,997)
Accumulated deficit (23,021,207) (19,050,363)
Total Stockholders' Deficiency (10,492,640) (10,300,856)
Total Liabilities and Stockholders' Deficiency 17,936,375 14,731,018
Common Stock [Member] | Temporary Equity [Member]    
Temporary Equity:    
Common stock; $0.001 par value, subject to put provision, 200,000,000 shares authorized and 11,106,880 and 11,106,880 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 437,380 437,380
Series A Convertible Preferred Stock [Member]    
Stockholders' Deficiency:    
Preferred stock; $0.01 par value, 5,000,000 shares authorized: 5 5
Series A-1 Preferred Shares [Member]    
Stockholders' Deficiency:    
Preferred stock; $0.01 par value, 5,000,000 shares authorized: $ 3 $ 3