Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.7.0.1
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Schedule of Results of Operations

    As Reported     As Restated  
Current Liabilities   $ 14,657     $ 10,490  
Long Term Liabilities   $ 9,939     $ 14,106  
Total Liabilities   $ 24,596     $ 24,596  

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities are excluded from the calculation of weighted average dilutive common shares because they are not currently convertible, or because their inclusion would have been anti-dilutive:

 

    For the Six Months Ended  
    June 30,  
    2017     2016  
Convertible preferred stock, Series A     667,169       667,169  
Convertible preferred stock, Series A-1     393,645       393,645  
Convertible preferred stock, Series D [1]     -       -  
Convertible preferred stock, Series F [1]     -       -  
Warrants     20,498,126       -  
                 
Total potentially dilutive shares     21,558,940       1,060,814  

 

[1] The Series D (39,883,500) and Series F (19,415,460) preferred shares are convertible at a rate of 400 pre-split shares of common stock for each share of preferred stock but not until the Company has effected a sufficient increase in the authorized common shares. The Series D and Series F preferred shares were mandatorily converted to common shares at a ratio of 1 to 20 when the reverse split of common shares was effectuated on May 26, 2016.
Schedule of Concentration Credit Risk Percentage

The following tables set forth the Company’s revenues and accounts receivable balances for the periods indicated:

 

    For the Three Months     For the Six Months  
    June 30, 2017     June 30, 2017  
Revenues   $     %     $     %  
Customer A     7,527       15 %     7,527       13 %
Customer B     8,126       16 %     8,126       15 %
Customer C     8,857       17 %     8,857       16 %

 

    For the Three Months     For the Six Months  
    June 30, 2016     June 30, 2016  
Revenues   $     %     $     %  
Customer J     1,044       33 %     1,419       27 %
Customer L     348       11 %     683       13 %
Customer M     285       9 %     578       11 %

 

             
    June 30, 2017     December 31, 2016  
Account Receivable   $     %     $     %  
Customer A     5,302       14 %     -       - %
Customer B     5,040       14 %     -       - %
Customer C     3,698       10 %     -       - %
Customer M      3,415       12 %     4,633       66 %