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 $ 77,979 $ 8,833,230
Accounts receivable, net 1,467,580 8,149,484
Prepaid expenses and other current assets 216,642 1,193,077
Income tax refunds receivable 1,458,438 3,813,066
Total current assets 3,220,639 21,988,857
Property and equipment, net 3,096,602 7,148,295
Deposits 165,152 232,774
Total assets 6,482,393 29,369,926
Current liabilities:    
Accounts payable (includes related parties) 3,351,388 4,360,035
Accrued expenses 4,135,147 5,285,455
Income taxes payable 942,433 1,398,053
Current portion of notes payable 9,011,247 269,031
Current portion of notes payable, related party 328,500 5,133,888
Current portion of capital lease obligation 1,796,053 1,323,708
Total current liabilities 19,564,768 17,770,170
Other liabilities:    
Notes payable, net of current portion 0 2,903,898
Capital lease obligations, net of current portion 1,774,121 2,394,171
Derivative liabilities 29,401 7,495,486
Total liabilities 21,368,289 30,563,725
Stockholders' deficit:    
Common stock, $0.01 par value, 500,000,000 and 50,000,000 shares authorized, 2,800,377 and 488,398 shares issued and outstanding 28,004 4,884
Additional paid-in-capital 45,726,862 26,827,904
Accumulated deficit (60,640,864) (28,027,177)
Total stockholders' deficit (14,885,896) (1,193,799)
Total liabilities and stockholders' deficit 6,482,393 29,369,926
Series B Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, 100,000,000 shares authorized: 0 50
Series C Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, 100,000,000 shares authorized: 0 90
Series E Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, 100,000,000 shares authorized: 0 450
Series G Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, 100,000,000 shares authorized: 2 0
Series H Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock, 100,000,000 shares authorized: $ 100 $ 0